Is TradeSafe legit?
TradeSafe is a licensed, independent fintech company that safeguards a buyer's funds in trust (escrow) until the seller delivers what was promised.
How does TradeSafe work?
The company is an independent third party that safeguards the buyer's funds in trust until the seller delivers to the buyer what was promised. TradeSafe releases the funds to the seller only when the buyer is happy with the goods or services received.
Is there escrow in South Africa?
The funds are safeguarded and only released upon successful completion of the transaction, as agreed by both parties. There is a fee for facilitating the escrow transaction and this fee can be covered by either the buyer or seller, alternatively there is an option to take on a 50/50 split between both parties.
What is Standard Bank escrow?
'Escrow' is an arrangement where a third-party, in this case, Standard Bank, safeguards funds on behalf of two transacting parties until all obligations and terms of the agreement are met. When the buyer is satisfied with the goods or services provided, Standard Bank releases the funds to the seller.