What is an escrow-style account?

If money is in an escrow-style account it means it is being held by a third party (Trustap) on behalf of the other two parties (buyer & seller) in a transaction. With Trustap’s online model, the funds are held for up to 24 hours after the buyer signs for the item in question. Why 24 hours? Extensive Market research has shown that 24 hours strikes an ideal balance between giving the buyer enough time to examine the item, determine if it is legitimate, or get a second opinion, and ensuring that the seller receives their money reasonably promptly.

In exceptional cases, the 24-hour period may be extended with the agreement of both the buyer and the seller. To enquire about the extension of the complaints period, feel free to contact us at support@trustap.com or via our live chat.

For face-to-face transactions, the funds are held for 1 hour. This is because for face-to-face transactions it is likely that the buyer, the seller, or both will have to travel to complete the transaction. The complaints period is therefore shortened to accommodate the travelling party.