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Alibaba Escrow?

by oatz
19 replies
  • ECOMMERCE
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Anyone ever use it? Had any troubles with refunds? I could just google it, but I'd rather get some input from the good people here
#alibaba #escrow
  • Profile picture of the author HealthWebmasters Dave
    use escrow.com??
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  • Profile picture of the author WeavingThoughts
    Why not escrow.com?
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  • Profile picture of the author onegoodman
    I used Escrow for big transaction, but would never use it for small one ( fees are high for small transactions )

    Never had a refund through them ( never needed one ).
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  • Profile picture of the author chenyanroger
    I see,where you are buying. it's not bad.
    If your quantity is large, why not let me help source for you ?
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  • Profile picture of the author AJMontoya
    Alibaba has their own escrow service so it's free to use. As long as you know you're buying from a legitimate supplier, you won't have any issues with their escrow service. They will hold your funds until you receive the goods you purchased, and once you confirm that you received the goods, Alibaba will then release the funds to the seller.
    Just a heads up, if the seller gives you the location of where to transfer the funds, DO NOT do it. They will run with your money. Only Alibaba can instruct you on where to send the funds.
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  • Profile picture of the author Danceparty
    on the other note, has any one ever used L/C between the banks?

    what range would you say the transaction amount should be in for it too be worthwile using L/C?
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  • Profile picture of the author chenyanroger
    sure, I have received some L/C payments before.
    But, fee is not low, and every step you want to modify L/C, you should pay fee.

    It is suitable for Large amount.
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  • Profile picture of the author chenyanroger
    sure, I have received some L/C payments before.
    But, fee is not low, and every step you want to modify L/C, you should pay fee.

    It is suitable for Large amount.
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  • Profile picture of the author RomanZ
    Thank you!
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  • Profile picture of the author cyberws
    The escrow on samples/small orders is mostly a joke. Why? Because it costs a fortune to send the product back. I had a sample order that cost $11 and wanted to return it. I went to the Post Office, FedEx and UPS and the cheapest return cost was $40-something dollars up to $60-something. So I just kept the useless product for obvious reasons and lost the money. I had a couple of other orders that weren't as bad but I wouldn't have kept them, either, if they were in the US.
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  • Profile picture of the author sajeneika
    I recommend you to use alibaba escrow service for all bigger purchase.
    I have some experience with alibaba sellers with no escrow, paid to 7 sellers, 3 times were scammed, but always buying low quantities to check quality first.

    few tips:
    - Buy from sellers which have 2yrs + badge.
    - First time buy low quantity, quality is not always same as seller describes it.
    - ALWAYS pressure seller on price, they always make discounts.
    - Get price and MOQ (minimum order quantity) from different sellers, not one and then choose where to buy.
    - If seller offers ~50% cheaper than all others, it is a scam.
    - Almost all the time, you will get taxes to pay when you get goods, remember to include that in price when you calculate your profit.
    - They usually ship with TNT, DHL and EMS. DHL and TNT - is fast, EMS - Cheap.

    Good luck with it
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  • Profile picture of the author AJMontoya
    To add to what saneneika said above, just because a seller has a 2+ year badge on their account doesn't necessarily mean they won't scam you. Even sellers who are verified by Alibaba have been known to rip people off. Only spend what you can afford to lose, just in case you end up dealing with a dishonest seller. Best of luck!
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    • Profile picture of the author Importexport
      Originally Posted by xismfofx22 View Post

      To add to what saneneika said above, just because a seller has a 2+ year badge on their account doesn't necessarily mean they won't scam you. Even sellers who are verified by Alibaba have been known to rip people off. Only spend what you can afford to lose, just in case you end up dealing with a dishonest seller. Best of luck!
      Absolutely right!

      You are looking in the wrong place if luck comes into it.

      There are safe ways and safe places to locate suppliers. If you search the forum you will find countless stories of buyers being ripped off.

      On this forum it seems that most people who sell physical products buy from dropshippers or wholesalers in the mistaken belief that you have to place big orders to buy direct from the manufacturers.

      That is absolutely not true. I teach how to safely source small quantities direct from real manufacturers at genuine factory prices. You can forget those stories about huge MOQs. In fact one of the things I teach is: Do not ask about Minimum Order Quantities. Sooner or later the factory will tell you what it is, and by then those who follow my system are well on the way to getting them to accept their first small order.

      Even when dealing with trustworthy suppliers it is not a good idea to order up big at first. Many people make mistakes in their first approach to Chinese companies and wonder why they get no replies. The biggest mistake is telling them that you are just starting off in business.

      Oh, I should add that importing is easy.
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      Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com
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  • Profile picture of the author Richard Tunnah
    Alibaba have a section within them called aliexpress. You order directly from suppliers and alibaba hold funds (for free) until you confirm delivery of goods as ordered.
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  • Profile picture of the author arsenir57
    Banned
    [DELETED]
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    • Profile picture of the author Importexport
      Alibaba's old escrow system is now called Trade Protection. The name has been changed for legal reasons since the float on the NYSE. It should not be confused with their new Trade Assurance system. If anyone wants to know about Trade Assurance just ask and I will post an explanation.

      Alibaba's Trade Protection scheme is full of loopholes. Few people bother reading the fine print, but I am one of the few that do. I can tell you that the fine print contains contradictions and is missing information that is very important to buyers.

      The biggest problem is the time limit. As I wrote in a much earlier post: "If you are lucky enough to find a real manufacturer on Alibaba they may be willing to accept payment by escrow, but remember to read Alibaba's fine print regarding their escrow service. It has a short time limit for you to lodge a dispute and many suppliers are expert at procrastinating until that time limit runs out."

      There are other problems, such as the risk of refusal of your claim if you sign for a parcel and it contains wood shavings, newspaper, or maybe an empty plastic casing instead of the phone you ordered.

      Be careful about accepting advice on forum posts by people who obviously don't know much about the subject.
      Signature
      Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com
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  • Profile picture of the author MarketResearchAmazon
    Originally Posted by oatz View Post

    Anyone ever use it? Had any troubles with refunds? I could just google it, but I'd rather get some input from the good people here
    I have used Aliexpress Escrow services. Works fine with me.
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    • Profile picture of the author Importexport
      Originally Posted by MarketResearchAmazon View Post

      I have used Aliexpress Escrow services. Works fine with me.
      You may have been lucky, but I can tell you that large numbers of people find that it does not work fine for them.

      As I wrote in the post immediately above yours: People should be careful about accepting advice on forum posts by people who obviously don't know much about the subject.

      With hundreds of people telling me of their experiences, and because I monitor the community forums operated by the big B2B sites, I know what a big problem just relying on Aliexpress and Alibaba's escrow service can be.

      By the way, it is no longer called escrow. For legal reasons Alibaba have changed the name to Trade Protection, and on Aliexpress they call it Buyer Protection.
      Signature
      Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com
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