EFynch Escrow- the Protection and Security that helps you.


(updated 4/28/2018)

Explanation of EFynch Escrow- simplified.

(Baltimore, MD)- The EFynch Escrow system is based on years of experience in contracting.

There is no additional costs for homeowners to use system and although sometimes credit card fees apply, contractors have included all fees already in bid you received.  If you are told otherwise please contact us immediately- this is against our contractor terms of service and is false.

*** We recommend using the Escrow System for ALL transactions *** For projects not in the EFynch Escrow, we are VERY limited on the assistance we can supply shoudl something go wrong.***

The EFynch Escrow works as follows:
 
1. After hiring, use your credit card, paypal, or venmo to post the funds.

2. The funds are held in a 3rd party escrow. They are fully refundable if you are not 100% satisfied. Funds are still under your control and are never released until you agree to doing so.

3. By putting up the funds early, this acts as a natural motivator for the contractor (stick and carrot).

4. Once the job is complete, the contractor must click "complete" on their phone. As the homeowner you have the ability to review, inspect, then finally sign off on the work- releasing the funds.

5. AT THIS TIME you rate the contractor. With EFynch, ONLY completed projects can be rated unless another circumstace has been approved (i.e. the contractor failed to perform and you email us to report).


BENEFITS of the EFynch Escrow:


- Security of Payment

- EFynch Escrow verifies contractor identity, address and status in the EFynch system with every transaction.

- Various payment options.

- 100% refundable (in full or partial).


The EFynch escrow can be very powerful and provide value and comfort the transaction. If you have any questions, please contact us through the EFynch website.




Q & A

Is there any cost for EFynch Escrow?
When you get a bid on EFynch, all fees are already included in that bid. There is a cost to use EFynch escrow and that is shown to the Pro when they have placed your bid*. The fee that is paid for EFynch Escrow is the greater of 5% or $10. We felt paying $10 on a $300 project or $20 on a $1,000 project is a small price for great security which helps both sides.

*CLARIFICATION: When a contractor places a bid on EFynch, all fees are included in that bid and shown to the contractor up front. By placing a bid, the contractor has agreed to pay us this (small) fee. At any time if you encounter someone who claims we charge "additional fees", please let us know. We feel this statement would be dishonest and it is not someone we want working on our member's homes.


Can I use EFynch Escrow even if I did not hire through EFynch?
Yes! EFynch Escrow provides security. If you want to pay through EFynch Escrow you are able to do so, even if you did not hire. Please contact us to arrange this.

Where is the money held?
EFynch Escrow Funds are held by a 3rd party- (a company owned by Paypal). EFynch CANNOT touch you money and the only power we have is to refund this in the event you are not satisfied. You money is held in escrow but is under your control.


What if the work is not completed to satisfaction?
 If work is not 100% to your satisfaction, we can refund it fully. If a request comes in, we always work our hardest to remedy the situation, even scheduling an alternative professional to complete the work when possible. This is part of our promise to help you with any home improvement project- from start to finish.

What is the verification process?
 EFynch Escrow is part of the process for our contractor verification. The Maryland Home Improvement Commission views "financial solvency" as an important factor in trusted someone. Our verification system automatically (at the start of each job) verifies the banking information of the contractor. Included with this is their banking account and related address.

How long until my Contractor is paid?
Work is done. Contractor presses "Complete Job" on their phone and you "Agree to Release Payment". The process starts immediately. You should receive an email with confirmation and the money is released to the  Pro's bank as soon as possible. Normal processing time occurs (like a check), but this process gives everyone comfort that funds are in process.






Location: Towson, MD, USA

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