The Escrow system is a payment system that is fully integrated into RCTrader.com. It is a proprietary system that we have developed. tested and implemented to offer greater control and security to buyers and sellers.
The Escrow system works by holding the buyer's funds in an RCTrader.com controlled bank account. The funds are held until the buyer receives the item. Once the buyer confirms receipt of the goods, the funds are released to the seller.
Here is more information relating to the system:
How to sell something using the Escrow system? click here
How to buy something that is using the Escrow system? click here
Only a seller needs to register with our payment gateway so that we can transfer their funds into their bank account. Click here to learn how to register. A buyer doesn't need to register as they only need to pay via credit card.
Which payment gateway is used to process and hold the funds?
Stripe - Click here to learn more.
How easy is the system to use?
The system is very simple and easy to use. Just in case, you also have access to RCTrader's award-winning customer service to help you with your first sale!
What happens if there is a dispute?
RCTrader.com will act as the final arbiter in the event of a dispute. Disputes must be made within 28 days of the transaction and can only be filed before the goods are marked as "received" (this is for obvious purposes as when the goods are marked as received, the funds are automatically released to the seller).
What does RCTrader.com charge for Escrow?
We charge a flat 5% fee so that you have 100% peace of mind. You can now confidently sell interstate and overseas knowing that if the seller doesn't send your item, you have 30 days to lodge a dispute and get a full refund!
Can I upgrade my listing to use the Escrow system?
Yes! you don't need to recreate your listing. Upgrading is simple. Just register to use the system!
*Note - we're working on a bunch of videos to help with registration, selling, buying, disputes etc