Buying or selling privately means both sides need confidence before money and goods change hands. GoEscrow provides a structured payment arrangement where the buyer funds the transaction into escrow before the seller hands over or ships the agreed item, and the payment remains in escrow until settlement is authorised under the transaction terms.
The private-sale trust problem
A buyer may not want to transfer money directly to someone they do not know before receiving or inspecting an item. A seller may not want to hand over or ship an item based only on a payment screenshot, promise or transfer that has not actually cleared.
GoEscrow sits between those positions as a financial intermediary. It manages the payment side of the transaction so the parties do not have to rely solely on blind prepayment, cash handover or a screenshot as evidence of payment.
How GoEscrow works for a private sale
- Create the transaction. The buyer or seller establishes the GoEscrow transaction and the other party accepts it.
- The buyer funds the transaction. The payment is deposited into escrow. The parties can see the transaction funding status in GoEscrow.
- The seller waits for confirmed funding. Goods should not be handed over or shipped merely because somebody provides a screenshot or says they have paid. The seller should wait until GoEscrow shows the funds are in escrow.
- The parties complete the private sale. The buyer receives or inspects the item according to the arrangement made between buyer and seller.
- The payment is settled. When the agreed conditions have been met, settlement is authorised and GoEscrow remits the escrow funds to the seller in accordance with the transaction.
For buyers: avoid blind prepayment
When buying privately, the concern is often simple: “Why should I send my money directly to a stranger before I have the item?” GoEscrow allows the payment to be funded into escrow rather than paid directly to the seller at the outset.
This can be useful for private purchases where payment and handover cannot comfortably happen at exactly the same moment, including remote or interstate transactions.
For sellers: know the payment has actually been funded
Sellers face the opposite problem. You may be asked to release an item after seeing a payment screenshot, transfer receipt or other claim that payment has been made. With GoEscrow, the relevant signal is the GoEscrow transaction status: wait for the transaction to show that the funds are in escrow before supplying the goods.
This gives the seller evidence within the GoEscrow payment process that the agreed funds have been received into escrow before handover or shipment.
Example: a A$4,500 private sale
This is an illustrative example only.
A buyer and seller agree on A$4,500 for a second-hand item. Instead of the buyer transferring A$4,500 directly to the seller before collection, they establish a GoEscrow transaction. The buyer funds the transaction and the seller waits until GoEscrow confirms the money is in escrow. The parties then complete the agreed inspection and handover. Once the buyer is satisfied that the agreed transaction conditions have been met, settlement can be authorised to the seller.
GoEscrow manages the financial interaction. The buyer and seller remain responsible for the underlying item and for deciding the terms of their sale.
What GoEscrow does — and does not do
GoEscrow is a digital escrow payment service. It holds and manages the payment in accordance with the transaction and the GoEscrow Terms of Use.
GoEscrow does not inspect, transport or supply the goods. It does not independently verify an item’s condition, quality, authenticity, ownership or title, and use of GoEscrow is not a guarantee that a private sale will be free from disagreement.
What if the private sale does not go to plan?
If a transaction needs to be stopped or the parties disagree about settlement, the GoEscrow process allows funds to remain in escrow while the issue is addressed. The applicable cancellation and dispute processes depend on the transaction circumstances and the instructions or agreement of the parties.
A dispute does not mean GoEscrow decides whether the goods are genuine, correctly described or otherwise satisfactory. For the detailed rules that apply to settlement, cancellation and disputes, read the GoEscrow Terms of Use and Product Disclosure Statement.
When GoEscrow may be useful
- You are buying from or selling to someone you do not already know.
- The buyer does not want to make a direct blind transfer before receiving the item.
- The seller wants confirmation that funds are in escrow before releasing the item.
- The transaction is remote or interstate and payment and handover cannot occur together.
- Both parties want a documented payment process rather than relying on cash, screenshots or informal promises.
When it may not be the right fit
GoEscrow may add unnecessary steps where the parties already have an acceptable low-risk payment arrangement, and it is not a substitute for checking the item, seller, buyer, ownership, provenance or other matters relevant to the purchase. The service is available only for eligible lawful transactions and registered users, subject to the applicable GoEscrow product terms and limits.
Fees
GoEscrow charges an Escrow Management Fee for its payment management service. The applicable fee and the party responsible for it are disclosed when the transaction is established. Current public GoEscrow documents contain differing historical fee-range wording, so rely on the fee disclosed in the transaction before proceeding and review the current Financial Services Guide and Product Disclosure Statement for formal product information.
Is GoEscrow legitimate in Australia?
GoEscrow Pty Ltd ATF The GoEscrow Unit Trust operates its payment solution in Australia. Current GoEscrow disclosure material states that GoEscrow is a Corporate Authorised Representative (No. 001312536) of AFSL No. 526194, is an AUSTRAC provider of designated remittance services and is a member of the Australian Financial Complaints Authority (AFCA).
Before using any escrow service, make sure you are dealing with the genuine provider and use its official website or applications rather than payment instructions sent from an unverified source.
Frequently asked questions
Is escrow useful for a private sale?
It can be where buyer and seller want payment funded before goods are supplied, without requiring the buyer to pay the seller directly before the agreed handover or inspection conditions have been met.
Should a seller trust a payment screenshot?
A screenshot is not the GoEscrow funding confirmation. When GoEscrow is being used, the seller should rely on the transaction status in GoEscrow and wait for confirmation that the funds are in escrow before handing over or shipping the item.
Does GoEscrow check the item I am buying?
No. GoEscrow manages the financial interaction. It does not inspect or supply the goods and does not independently verify their quality, condition, authenticity, ownership or title.
Who releases the money to the seller?
The GoEscrow product is designed around payer-controlled settlement: once the applicable conditions are met, the payer authorises settlement and GoEscrow remits the funds to the payee in accordance with the transaction and its terms.
What happens if buyer and seller disagree?
The funds can remain in escrow while the matter is addressed under the applicable GoEscrow cancellation or dispute process. The outcome depends on the circumstances, party instructions and the GoEscrow Terms of Use; using escrow does not guarantee a particular dispute outcome.
Can GoEscrow be used for an interstate private purchase?
Potentially, yes, where the transaction is eligible. Escrow can separate confirmed funding from later shipment, inspection or handover, which may be useful when buyer and seller cannot meet in person.
Ready to protect the payment?
Use the official GoEscrow mobile app or web app to start your transaction. Review the transaction details, fee and applicable terms before funding.
For formal information about the service, see the Product Disclosure Statement, Financial Services Guide and Terms of Use.
