An Escrow is a contractual arrangement between a Hirer and a Freelancer, where a Hirer purchases the services of a Freelancer and is legally bound to pay for the services they purchased. To manage payments securely and building the trust between the hirers and freelancers on a project, we use Escrow account, where the project funds are deposited securely.
At PROLANCER, an Escrow account is held, containing funds for payment of services to be provided by the Freelancer; and we release these funds when the Freelancer has completed a pre-agreed job or project, raised an invoice and the hirer has accepted and agreed to release the funds from the Escrow account to Freelancer's account.
Please note, from September 2019 all transactions made to, or from destination in Europe must go through the 3D Secure (3DS) process. The 3DS process provides an additional security layer for online credit and debit card transactions, allowing customers to authenticate their payments with their Issuing Bank in real time.