Introduction

Welcome to Onion Escrow. Our payment policy outlines the terms and conditions for processing payments through our escrow service. We focus on ensuring transparency, security, and fairness in all transactions. Please review this policy carefully to understand our procedures and your responsibilities.


Payment Methods

1. Accepted Payment Methods Onion Escrow exclusively accepts payments in cryptocurrencies. We support major cryptocurrencies including:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)

Cryptocurrency payments are chosen for their security, anonymity, and efficiency. They provide a streamlined and private payment method suitable for transactions on our platform.


2. Payment Processing Fees Cryptocurrency transactions may incur network fees, which are determined by the cryptocurrency's network and can vary based on congestion. Onion Escrow does not cover these additional fees, and they are the responsibility of the payer.


Escrow Fees

1. Service Fee Onion Escrow charges a service fee of 3% of the total transaction amount. This fee covers our platform's administrative costs, security measures, and overall maintenance. The fee is deducted from the transaction amount before funds are held in escrow.


2. Fee Calculation and Deduction The service fee is calculated based on the total amount of the transaction. For instance, if the transaction amount is 1 BTC, the service fee would be 0.03 BTC, and 0.97 BTC will be held in escrow. The fee is deducted at the time of payment.


3. Refunds of Fees The service fee is non-refundable once the transaction has begun. If a transaction is canceled or a dispute arises, the fee remains non-refundable.


Payment Procedures

1. Initiating a Payment To initiate a payment:

  • Login: Access your Onion Escrow account using your secure credentials.
  • Create Transaction: Provide transaction details including the amount and cryptocurrency type.
  • Deposit Funds: Transfer the agreed-upon cryptocurrency amount to the provided wallet address. Ensure accuracy to avoid any loss of funds.

2. Payment Confirmation Upon successful payment, you will receive a confirmation email or notification within your Onion Escrow account. This confirmation will detail the amount deposited, the transaction ID, and the status of your payment.


3. Payment Processing Time

  • Cryptocurrency Payments: Typically processed within 30 minutes to a few hours, depending on network congestion and transaction confirmations. The speed of processing can vary based on the cryptocurrency used.

Disputes and Chargebacks

1. Handling Disputes If you encounter issues with a payment, such as discrepancies or disputes, contact our support team immediately. Provide all relevant documentation and evidence to facilitate a swift resolution.

2. Chargebacks Chargebacks are not permitted for transactions processed via cryptocurrencies. Once funds are deposited into the escrow account, they are held securely until the transaction is completed or a dispute is resolved.


Refunds and Cancellations

1. Refund Policy Refunds are subject to the following conditions:

  • Transaction Cancellations: If a transaction is canceled before the funds are deposited into the escrow account, a refund may be issued minus any network fees incurred.
  • Disputed Transactions: If a dispute is resolved in favor of the buyer, the funds may be refunded, excluding the non-refundable service fee.

2. Cancellation Procedures To cancel a transaction, contact our support team promptly before funds are deposited into escrow. Once the funds are in escrow, cancellations are not possible. Disputes must be resolved through our resolution process.


Security and Privacy

1. Secure Transactions Onion Escrow uses advanced encryption and security measures to protect your cryptocurrency payments. Our systems ensure that all transactions are secure and that your information remains confidential.


2. Privacy Policy We are committed to maintaining your privacy. All personal and payment information is used exclusively for transaction purposes and is not shared with third parties without your consent. For more information, please refer to our privacy policy.



Conclusion

Thank you for choosing Onion Escrow. Our payment policy is designed to provide a secure, transparent, and reliable experience. For any questions or assistance with payments, contact our support team at contact@onionescrow.com. By using Onion Escrow, you agree to this payment policy and any updates or changes made to it. We reserve the right to modify this policy to maintain the integrity and security of our services.