Flippa Escrow is Flippa's secure payment method. We recommend that all transactions take place through Flippa Escrow.

Summary:

  • Buyers and sellers must both complete ID verification before a payment can be made using Flippa Escrow
  • Seller must request payment from a buyer to start escrow
  • Buyer payment is held secure in escrow until buyer explicitly declares they have received all inclusions in listing and they are happy to release payment

Detail:

As a buyer, Flippa Escrow protects you by securely holding onto your payment until you authorise it to be released after you confirm receipt of everything that you expected to be included in the sale. If you have any concerns over anything that has been transferred - or if anyhting is missing - you can contact us and we can work with you and the seller to resolve the matter - all the while your payment remaining securely held within Flippa Escrow.

As a seller, Flippa Escrow protects you by notifying you when a buyers payment has been received and cleared so that you can start asset transfer. You should only start transferring assets after we notify you that we have received your payment.  

A summary of the process is as follows:

  • Buyer makes an offer or places a winning bid in an auction
  • Seller accepts the offer or the auction bid is automatically accepted
  • Seller requests payment
  • Buyer makes payment
  • Seller is informed when payment has been received, has passed all fraud checks and has cleared
  • Seller begins release of assets and everything included in the listing
  • Buyer confirms when this has been completed and releases funds
  • Seller receives funds

Please note that buyers and sellers should conduct all due diligence and assessment before payment is made. Once payment has been transferred out of escrow or assets have been transferred to a buyer, the sale process is deemed to have finished. 

Flippa charges no fees to use Flippa Escrow, however there are various fees to use Flippa. These can be found here.

Flippa Escrow is available for all transactions on Flippa.  

Flippa Escrow currently accepts bank or wire transfers (often known as ACH or SWIFT or transfers that need an IBAN) and major debit/credit cards. Flippa Escrow does not currently accept American Express payments.

Flippa Escrow performs identity verification as part of a customer identification procedure. This is done to ensure trust on the platform. Customer identification checks are also at times required by the merchant bank. Some transactions, particularly those of a higher dollar amount, will require additional identity verification.

 

Milestone or instalments

Flippa can facilitate Milestone or instalment payments. 

For more information please see here

 

Additional Information.

Slow to Pay Countries

Some countries are known by banks as slow-paying or slow-to-pay, a list of affected countries can be found our Slow-to-Pay Countries article.

IBAN

An International Bank Account Number or IBAN is is an internationally agreed system of identifying bank accounts.

https://en.wikipedia.org/wiki/International_Bank_Account_Number

Most banks in the European Union require an IBAN to receive funds, as do many in the Middle East and the Caribbean.

Please ask your bank if your country and bank provide an IBAN, as it will make the process of receiving your funds from Flippa Escrow faster and more seamless.

European customers who have not provided their IBAN may experience delays until the IBAN is provided.

Canadian Bank Details

Canadian customers who have not provided required banking details may experience delays until said information is provided.

  1. i. the name of the account holder
  2. ii. the account holder’s physical address
  3. iii. the name of the financial institution
  4. iv. the bank’s SWIFT or BIC code
  5. v. the account number
  6. vi. the branch transit number and full branch address
  7. vii. the institution number
  8. viii. the account type (cheque/current or savings)
  9. ix. the account holder type (personal or business)
 
If you have been waiting more than three weeks for your payment, or you have any questions regarding a payment in process, please contact the Flippa Escrow team at escrow@flippa.com.
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