Escrow Service Requirement: Who Qualifies and What You Get
Learn how escrow services protect your money during online shopping transactions in South Korea.
This requirement ensures that your money is held securely by a third party rather than being sent directly to a seller immediately upon purchase.
Who it's for
This protection is designed for online shoppers making purchases through digital marketplaces.
What you get
You get protection for your funds. The money you pay is held securely and is not released to the seller until you have actually received your product.
What it costs you
There is generally no direct cost to you, as the service is usually built into the platform's standard payment process.
The catch to know
This protection is not universal for every website; it only applies to online platforms that support and use this specific service.
How to apply
- Shop on a platform that supports escrow services.
- Proceed to the checkout using the platform's secure payment system.
- Confirm that your funds are being held in escrow rather than sent directly to the merchant.
- Wait for your product to arrive before the funds are released to the seller.