PayPal Vs Escrow Services Efficiency and Safety by the Numbers

by Alex Pardin Financial Consultant

If you are a businessman then you need a service provider that helps in quick and easy transferring of money. Perhaps that is why today banking services are trying to initiate new ways so that you can pay the suppliers in the safest and the fastest way possible. However, it is the non-banking services which have become more popular in this field, such as PayPal, escrow services, etc.

Keeping this in mind here the comparison between two money transfer and payment service provider has been done — PayPal and Escrow Services, so that you understand which one is a better option for you and how Axios Credit Bank can help you as an Escrow Service provider.

PayPal and its Drawbacks

Introduced in 1999 from San Jose, California, PayPal has become one of the most sought-after ways of transferring money. Being a subsidiary of eBay, PayPal has much to offer you. For instance, it is cheap for any business merchant to hold an account of PayPal. Furthermore, the processing of PayPal is easy and quick. This makes it possible for a businessman like you to make payment to your client in the smoothest and the fastest way possible.

Despite saying this, one cannot ignore the disadvantages of using a PayPal account for the payment. In fact, the most dangerous thing about PayPal is that it lacks security and once anyone cheats you, your account gets frozen for a long time, thereby damaging your business. Even the customer service of PayPal is not very friendly, so if any problem pops up you cannot expect much help from PayPal. Surprisingly, even setting up a PayPal account is not a piece of cake. You need to verify the deposited funds in your account.

Thankfully, in order to free you from all these issues another newer and more customer-friendly service has been rolled out and that is escrow services. One of the most secure money transaction services, Escrow service has made disbursement and collection of money not only simpler but cost-effective. The whole payment process is of five steps and has given a new boost to the third party transaction industry.

What is Escrow Service and how Axios Credit Bank helps you?

Escrow service is government regulated and licensed money transaction service. It resolves the issues of transferring money between buyer and seller. It won’t be wrong to say that it builds a new trust between the two ends- importers and exporters and ensuring a smooth transaction of money between both parties. Axios credit bank as an escrow service provider helps you a great deal in this. It makes sure that you receive escrow service in addition to other banking services and remain free from any type of fraud related to money.

Conclusion

If you are someone who is running a business then you must understand that security of any money transaction is of utmost importance and PayPal service fails to offer you impeccable security in the payment of money. Hence, you must select Escrow services offered by Axios Credit Bank, as it is one of the best escrow service providers.