Escrow Policy

Escrow Policy

Escrow is at the heart of every Social Bidz transaction. This policy explains how we hold and release funds to protect both buyers and sellers.

1. How escrow works

When a buyer agrees to a purchase, their funds are placed into a secure, segregated escrow account held by Social Bidz. The seller transfers the channel to our escrow agent, who verifies it before handing it to the buyer.

2. Release of funds

Funds are released only after the required transfer, verification, ownership, and protection steps are completed under the transaction workflow. This protects the buyer from non-delivery and the seller from non-payment.

3. Fees

The buyer pays the channel price plus a 1.5-7% service fee ($2 minimum), with lower rates on higher-value deals. The seller receives the full channel price with no deductions. The fee covers escrow protection, verification, and dispute resolution.

4. Disputes

If a dispute is opened, funds remain locked in escrow until our resolution team reviews the evidence and issues a binding decision.

5. Refunds

If a transfer cannot be completed or a dispute is decided in the buyer's favor, escrowed funds are refunded according to the resolution outcome.

6. Supported methods

Supported payment methods, currencies, and withdrawal networks are the options currently enabled and displayed by Social Bidz at checkout or in the Balance area.