Once you complete the payment, your money is transferred to a neutral escrow account and is not released to the seller until the transaction conditions are met.
Payment Confirmation
- The buyer’s payment is confirmed immediately after the payment is completed.
- The full amount is held in Waffy’s escrow account and does not enter either the buyer’s or seller’s bank account.
Holding the Funds Until the Conditions Are Met
- Waffy, as a neutral third party, holds the funds throughout the product delivery and inspection period.
- No part of the funds is released to the seller before the buyer confirms receipt of the product.
Releasing the Funds to the Seller
- The funds are transferred directly to the seller’s bank account once the buyer confirms receipt of the product.
- The funds are also released automatically if the inspection period ends without a response from the buyer.
What Happens in Case of a Dispute?
- Waffy temporarily holds the funds as soon as the transaction is escalated until the dispute is resolved.
- If the buyer rejects the product during the inspection period, the amount is refunded after deducting the applicable fees, within a maximum of 14 business days from the date both parties are notified of the decision.
- If the decision is to complete the transaction or split the funds between the parties, the transfer is processed within a maximum of 7 business days.
Throughout these stages, the funds remain under Waffy’s management as a neutral third party and are released only according to the agreed transaction conditions.