Secure payments,
giving complete peace of mind...

Basics

What is escrow?

Escrow is a method of payment where seller and buyer are checked and verified before money is held by a trusted third party until the purchase has been safely completed. Giving complete peace of mind and protection to both parties.
To enable secure payments for our users and visitors, we have partnered with trustshare, the FCA regulated company registered in England and Wales, offering global cross-border payments in USD, EUR or GBP in 186 countries.

  • - Buyers and sellers protection
  • - Trust
  • - Transparency
  • - Safe & secure payments
  • - A fair and safe transaction for everybody
Main benefits

Are you a seller?

  • - Know who you are transacting with. Everyone’s identity is verified to ensure they’re a genuine user.
  • - Avoid last-minute cancellations. Buyers are charged the transaction fee when they make the transfer. This reduces the chances of the buyer changing their mind and cancelling the purchase.
  • - Get paid on time! When the item has been delivered, the buyer must release the funds if the agreed terms have been met.
  • - Visibility of funds. See in real-time when funds are transferred into the dedicated escrow account. So that you can set up shipping and contract exchange with peace of mind.
How does it work

...for sellers?

  • 1. Create a payment link for the buyer inside your racemarket user panel (trustshare tab) or ask the buyer to start the transaction via the link in the ad.
  • 2. Get verified (verify your identity to act on your transaction).
  • 3. Deliver goods (complete the agreed service).
  • 4. Receive funds (Time to get paid. The buyer will release the funds if the agreed terms have been met.).
Main benefits

Are you a buyer?

  • - Keep your money safe in a dedicated escrow account & only release the funds when you’re happy with your purchase.
  • - Know who you are transacting with online as everyone’s identity is verified.
How does it work

...for buyers?

  • 1. Ask the seller to provide the link to start the escrow process or initiate it by clicking on the link inside the ad.
  • 2. Deposit funds (make a transfer into your dedicated account).
  • 3. Get verified (verify your identity to act on your transaction).
  • 4. Release funds (hit release when item gets delivered and you are satisfied).
FAQ

Frequently asked questions

Who can use escrow?

Anyone and for any transaction, regardless of its value. Whether you are buying a race car, a spare gearbox, a set of tyres or a helmet, trustshare will help you avoid scammers with their strict seller verification process and in case the acquired gearbox on delivery still turns to be just a "box", your money is still safe with you, as you only release it to the seller once you receive the goods and confirm that they match the agreement. Complete peace of mind for every acquisition, who wouldn't want that?

Where is my deposit held?

Your money is held in a protected, safe-guarded bank account. This will be with Barclays in the UK or Crédit Mutuel Arkéa in Europe. A safe-guarded account doesn’t generate interest because even the bank can’t use your funds for investments, it’s that well-protected.

Who are trustshare?

We have partnered with trustshare, whose mission is to revolutionise how consumers pay online through our safe and trusted escrow service. Trustshare is the FCA regulated business who keeps your funds under lock and key until you are happy that the product or service has been delivered. If you’re not 100% sure about the seller / buyer, it’s best to use their escrow payment solution just in case. It takes the hassle out of payments and makes sure you are protected if things don’t turn out as expected.
trustshare is a licensed eMoney provider. trustshare ltd is a company registered in England and Wales (No. 12650826) at 71-75 Shelton Street, London, United Kingdom, WC2H 9JQ and registered with the Financial Conduct Authority with reference number 902866. trustshare UAB is their subsidiary registered in Lithuania (No. 305668309) at Zalgirio g. 90-100, Vilnius, Lithuania, LT-09303 and registered as an agent with the Central Bank of Lithuania with authorisation code LB001994.
Trustshare completes robust KYC and AML checks on buyers and sellers so you are safe and protected.

How to get verified on trustshare?

Before first transaction as a seller (or buyer), you will have to get verified. The process on the trustshare panel is simple, takes just a few minutes and requires a selfie using your (PC or phone) camera and one of your identification documents to match it. Do not worry if the document photo is blurry, you can submit it anyway and the system will ask you to upload the more clear scan of the document later on in order to finalize verification.
During the transaction between the buyer and the seller, the system may ask you for additional proofs of transaction, where you can upload the proof of bank transfer or a contract between the seller and buyer for the acquisition of the item you are buying.

How much does it cost to use trustshare?

Escrow fees are charged in percentage of the sale amount:
Buyer fee: 4% (min. 24€, max. 4000€).
Fees are used for protecting your funds so you can safely complete transactions online with peace of mind. Buyer pays its fees when depositing the agreed sale amount (amount + fees). Please note that the fees are not refundable, so we recommend not to start the transaction before you make an agreement with the seller.

Terms and Conditions

All transactions are handled by trustshare and subject to their Terms & Conditions, which you can find here, including potential disputes between parties. Racemarket.net network is not responsible nor directly included in any transaction processed through trustshare as a result of agreement via our network. The checkout process may contain racemarket branding including logo for the purpose of legitimacy and racemarket brand name in the checkout "to" field to protect seller identity, but racemarket network is never the recipient of the deposit, trustshare is.

Additional help

About trustshare
trushare Support for buyers
trushare Support for sellers
We're here for you

Need Help?

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Inquiries: info@racemarket.net