How it works
A deal from start to finish.
FairBank Escrow runs the way a traditional escrow agent runs. There are no accounts; you submit your side, we match it with the other party, and a real person moves the money and sets each status. Here is the whole process, step by step, including what happens if a deal goes wrong.
You submit your side
You fill out the form with your name, email, phone, whether you are the buyer or the seller, the deal type, a plain description of what is being exchanged, the dollar value, and the counterparty's email. No account, no password. When you submit, we save your side and give you a reference number. Keep it; you will use it with your email to check the deal.
We match you with the counterparty
The other party fills out their own submission and names you back as their counterparty. When two submissions name each other and take opposite sides, one buyer and one seller, we link them into a single deal. If your counterparty has not submitted yet, your deal simply waits as awaiting the other party, and you can check back with your reference number any time.
The deal is linked and the fee is set
Once both sides are in, the deal moves to Created, meaning it is ready to fund. This is the point where the escrow fee is worked out from the deal value and fixed to the deal. Both parties can now look the deal up and see the same terms, the same status, and the same fee.
Funds are sent and held
The buyer sends the funds to FairBank Escrow, a wire to our bank account or coin to our crypto account. Our staff confirm the value has actually arrived and mark the deal Funded. From here the money is held in escrow, apart from the deal; the seller can see it is there without being able to take it.
The terms are confirmed
The seller delivers their side of the deal. Once the terms both parties described have been met, FairBank Escrow confirms it and marks the deal Verified. Verified means the deal is cleared and the release is authorized, but the money has not moved yet.
A reviewer approves the release
Every release gets a final human check. The deal sits in Pending Review while a FairBank Escrow reviewer looks it over. This is a deliberate gate so nobody records a release by accident. The reviewer can approve it, or hold it with an internal note if something still needs checking. The funds stay held until they approve.
Funds are released and the deal settles
On approval, the reviewer sends the funds to the seller from the real accounts and marks the deal Released. That is the end of a normal deal. The whole path, from your first submission to release, is written to the deal's history with timestamps, and both parties can read it.
If a deal goes wrong: disputes
While the funds are held, either party can open a dispute from the status page with their reference number and email. They explain what went wrong and can attach a file. Opening a dispute pauses the deal, so nothing releases while it is open. Both sides can add evidence, then a FairBank Escrow reviewer weighs it and decides one of two outcomes: release the funds to the seller, or refund the buyer. That decision closes the deal.
You can check any deal at any time with your reference number and the email you submitted with. That reference number plus your email is what proves you are a party; keep it somewhere safe.