FAQ

How long does it take to transfer assets?

This is determined by the methods used by the Buyer and the Seller. ZoomEscrow is not responsible for the transfer of assets. We can only disburse funds upon the written authorization of both parties.

Does ZoomEscrow handle domain name transactions?

Yes, however we do not hold domains in escrow - in domain-only deals, we only hold funds in escrow while the Seller transfers the domain to the Buyer. The Buyer and Seller are directly responsible for all asset transfers. ZoomEscrow does not oversee the transfer of assets. We can only disburse funds upon the written authorization of both parties.

Who pays for currency conversion rates?

ZoomEscrow only receives and disburses funds in United States Dollars (USD).  The Seller and Buyer assume all risks relating to gains/losses based on how international currency conversion rates fluctuate during the fund’s time in escrow.

What payment methods do you accept?

To live up to our goals as the fastest and most secure escrow service for online businesses, we only accept wire transfers.

These transfers are usually processed on the same day. Since the money transfers faster, ZoomEscrow does not have to wait as long to verify receipt in the trust account.

They are more secure as the sender must already have the funds in their account before they initiate a wire.

As with all steps, your expert escrow officer is available to personally assist you whenever a need may arise.

How quickly are incoming payments processed?

Wire transfers processing time depends on financial institutions. However, once the funds leave the Buyer’s account, ZoomEscrow can usually process it the same day.

Since the wire transfers are quick, ZoomEscrow does not have to wait as long to verify receipt in the trust account.

How does ZoomEscrow protect me?

How Buyers are protected:

  • ZoomEscrow does not release the funds to the Seller until both parties have authorized that all online business assets have been transferred. 

  • ZoomEscrow keeps the Buyer’s money safe until the Buyer claims the transaction to be complete.

How Sellers are protected:

  • ZoomEscrow keeps the funds safe in the escrow account to assure payment to the Seller after closing the transaction.

  • The Seller is notified to transfer the business assets only after ZoomEscrow secures the escrow funds.

 

When should I use ZoomEscrow?

ZoomEscrow is the ideal system for anyone buying or selling an eCommerce, Amazon FBA, SaaS or any other online business or website.

Due to our specialization within the online business niche, our escrow processes for online businesses transfers are more affordable, more transparent, more expedient, and most of all, secure.

With help from our in-house lawyer who expedites each transaction, our customers seamlessly transfer 5-8+ figure online businesses with peace of mind that everything they have worked so hard for is kept safe.

How do I change transaction details and terms?

Changes can be made after signing into ZoomEscrow, up until both parties agree on the terms.

If the other party has yet to agree, that party is the one with access to the “modify” feature.

If both parties have agreed to the terms, to make any additional changes, both parties must email help@zoomescrow.com with the changes and ZoomEscrow must confirm its receipt and update of those changes.

How do Buyers or Sellers cancel transactions?

 

Up until both parties agree to the terms of the transaction, the Buyer or Seller can cancel the transaction by clicking “cancel” in the transaction detail section.

Once both parties have confirmed their agreement details, either party can only cancel the transaction under the condition that ZoomEscrow has not received the Buyer’s funds. This is done through an email request sent help@zoomescrow.com.

If the funds have been secured, the cancellation of the transaction can only be done by ZoomEscrow once both parties have been notified.

If I have any questions about the business being transferred, do I contact ZoomEscrow.com?

No. ZoomEscrow only serves to facilitate the transfer of an online business after both parties have done their own due diligence on the transaction.

When are funds released by the Buyer?

ZoomEscrow may release funds to the Seller once both parties have approved the release of funds through their mutual written authorization.

Funds transfer to the Seller within the same or next business day after ZoomEscrow receives both the Buyer and the Seller’s written authorization for the disbursement of funds.

How should I transfer the business assets?

This should be discussed with and executed directly between the Buyer and Seller.

The Buyer and Seller are directly responsible for all asset transfers. ZoomEscrow does not oversee the transfer of assets. We can only disburse funds upon the written authorization of both parties.

When does the Seller transfer the business assets?

Once ZoomEscrow receives the Buyer’s funds in escrow, ZoomEscrow will notify both parties of the receipt of the funds in escrow. Upon that notification, the Seller will transfer the business assets.

If the Buyer rejects the transfer, who pays for the transfer’s process expenses?

As described in the escrow terms, once both parties accept the escrow terms, both parties are responsible for the escrow fees (jointly and severally). Please see our Escrow Agreement for more details.

How do I check the status of my transactions?

Once you sign into ZoomEscrow, you may access the details and status of your transaction on the summary page.

Who is responsible for paying the escrow fees to ZoomEscrow?

During the drafting of the Terms of Agreement, you will have an option to determine this.

You have the option of selecting “Buyer”, “Seller”, or “50% Buyer / 50% Seller”.

Who is responsible for taxes, customs, and import fees?

Normally, the Seller is responsible. But they are free to negotiate any fees into the purchase price - ZoomEscrow does not engage in any tax, customs or import advice or processes.

What is the verification of "good funds" or "secured funds"?

To protect the Seller, ZoomEscrow must assure that the funds are fully deposited into the escrow account. This is when the money is considered “good funds” or “secured funds”.

Where do I send my payment?

Once an escrow order is placed, we send them instructions on how to wire funds to our Escrow account at JP Morgan Chase.

As the Buyer, what happens to my money when I send it to ZoomEscrow?

Your money is parked in our secured escrow account until after the transaction has been completed.

Whether or not the parties successfully complete the transfer of the business assets, ZoomEscrow requires the mutual written authorization of the Buyer and the Seller to disburse funds.

How does ZoomEscrow.com protect against fraud?

ZoomEscrow protects both parties from fraud by verifying the Buyer’s funds are secure in the escrow account before the Seller is notified to transfer the business, and by not releasing any escrow funds until both parties agree in writing.

How long does it take for Sellers to be paid?

Usually, funds are distributed the same or next business day once the transaction has been completed.

Does ZoomEscrow have restrictions on where they can send funds?

Generally, no. We can send wires worldwide to any bank as long as we are given the proper SWIFT codes and IBANs.

Can I send multiple payments for one transaction?

After we approve, multiple wire transfers may be used for one transaction.

Are services offered through ZoomEscrow safe?

Absolutely. We have your back every step of the way. We are strict and our internal processes are used on every transaction to keep your information confidential, safe and secure.

How does the Buyer decline the transaction sent by the Seller?

There is a “reject” option that the Buyer can click on the transaction screen.

What if the Buyer does not accept or decline the assets at ZoomEscrow.com?

ZoomEscrow releases the funds to the Buyer after ZoomEscrow receives the mutual written authorization from the Buyer and the Seller.

What if there is a dispute during the transaction?

If there is a dispute, the parties handle that directly and let us know the outcome - we don't make any judgments or determinations. 

If the parties cannot resolve the dispute, then we may deposit the funds with a court to make that determination.

After all of the time and money this takes, from legal fees to the parties’ cost of our own lawyer, everyone is motivated to resolve any disputes outside of court, so, in our experience, any disputes are usually handled between the parties and they give ZoomEscrow mutual written authorization to disburse the funds.

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