Waffy is a suitable option when you want greater confidence and protection, especially for transactions where both parties need clear safeguards.
When dealing with someone you do not know
- You have no previous transaction history or direct relationship with the other party.
- The deal was made through a public listing or platform without additional personal guarantees.
When the transaction amount is high
- Losing the amount would have a significant financial impact if the agreement is not fulfilled.
- There is no formal contract or alternative protection for either party.
When inspection or delivery is required before final payment
- The buyer needs to inspect the product or receive the service before the seller receives the funds.
- The transaction involves multiple stages, such as business projects, where each stage needs to be documented separately.
When either party wants a formal refund process
- A direct bank transfer does not provide a formal refund mechanism in the event of a dispute.
- Waffy holds the funds until the agreed conditions have been fulfilled by both parties.