FAQs

Some of the topics that were mentioned in the video are categorised and described in more detail here:

 

 

Basics

To find out the basics of how Trustap can work for your transaction, please visit our About Trustap & How it works section. If you can’t find the answers you’re looking for there, take a look at our FAQ’s:

What is trustap for?

Trustap is for peace of mind. Trustap is a service specifically designed for C2C (Customer to Customer) transactions online. Every C2C transaction has a buyer and a seller and, for the vast majority of these transactions, the person you will be transacting with will be a complete stranger to you. Trustap ensures that you don’t need to place your trust in a complete stranger and insures your transaction.

How does it work?

Trustap is a transaction platform where payment is integrated with delivery services to hold the buyer’s money until such time that confirmation of delivery has been received and the buyer is happy with the item in question. This means that your chances of being scammed are eliminated and you can transact with peace of mind! You no longer have to trust someone you don’t know.

What are the advantages of using Trustap?
  • Trustap directly solves this trust aspect, which makes it unique in comparison to other online payment companies. With Trustap, an escrow-like transaction takes place whereby the buyer’s money is held until confirmation of delivery has been received and the item is as described. This means that customers no longer have to place their trust in someone that they don’t know.
  • Trustap combines delivery and payment into one efficient and transparent service for its users. Competitor platforms prioritize either payment or delivery and do not cater for both. Trustap’s service provides value to customers by ensuring they have peace of mind when they think about buying and selling with strangers online, something the competitor platforms cannot provide to them.
  • Trustap’s service is completely transparent so there is no ambiguity between the buyer and the seller in any scenario. Both parties will know exactly what stage the payment is at and also exactly what stage of delivery the item is at. This provides valuable peace of mind to both parties in the transaction. Competitor platforms can’t offer this because, for the most part, they only facilitate payment.
  • Trustap’s fees are lower compared its competitors, at only 1.8% per transaction. This, coupled with the added security and peace of mind that the platform offers, makes using it a huge advantage to customers.
How do I know Trustap is secure?

Trustap’s payments are secured by Stripe. Trustap uses Stripe’s “connect” platform to manage all its payments meaning they are secured to the highest possible level against any form of fraud. Visit https://stripe.com/connect for more details.

How can I be sure I won’t be scammed?

Trustap significantly reduces the chances that either the buyer or the seller in a transaction will be scammed. “Scamming” comes in two primary forms in all transactions. Either buyers don’t get value for what they pay for or sellers don’t get value for what they sell. Trustap is the only transaction platform that fully addresses this issue by ensuring each transaction runs fairly. Buyers don’t pay for anything until they receive it and are happy with it. Sellers don’t have to send anything until they know the correct funds have been deposited. Check out our About Trustap & How it Works section to get a clearer idea of how the platform can help put an end to online fraud and scams.

Who is the buyer?

The buyer is the person in the transaction that is paying money to get an item from someone else.

Buyer Time Limit

The buyer in the transaction has 24 hours to lodge a complaint if he/she is not happy with the item they have purchased. The money stays held during this process and neither party can access it. If the 24 hours passes or the buyer is happy with the item in question, the money is then automatically released to the seller.

Who is the seller?

The seller is the person in the transaction that is receiving money to send an item to someone else.

Seller Time Limit

The seller in the transaction must send the item in question and input the tracking information (including the courier or postal service used) within 48 hours of notification that the buyer has lodged the funds into the Trustap hold.

Pricing

Trustap only charges users 1.8% of the fee being transferred per transaction.

Overview of the process (With Screenshots)

Once two parties in a transaction have found each other, and initiated the transaction process by agreeing a price for a particular item, it is then time for them to use Trustap to facilitate the transaction to ensure neither party is scammed in any way, shape or form. Once the app is downloaded and either the buyer or seller logs into their account, they will automatically begin on the homepage as follows:

The Trustap homepage gives users the option to create or join a transaction.
trustap_home_page
Again, in most cases, it will be the buyer who initiates the process and so will most likely be the one who creates the transaction. Using the example of the buyer as the person who creates the transaction in this case, they will log in, click the green “Create Transaction” button and then input all the necessary details of the transaction, including:

  • Their role in the transaction (Buyer or Seller)
  • Agreed price
  • Trustap fee
  • Brief item description

Trustap then generates a unique alpha-numeric code that can then be shared with the other party in their transaction. The seller in this case would then log in and select the orange “Join Transaction” button. Once they have confirmed that the aforementioned information is correct, the transaction is then initiated and both parties will then be brought back to the homepage.
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By selecting the “My Transactions” button on the homepage, users can check the status of any one of their ongoing transactions at any time. If only one party in the transaction has joined, then they will be met with this status whenever they check the status of the transaction. The funds will automatically be transferred from the buyer’s account once both parties agree on all the transaction details. The whole transaction is then broken down into a very transparent and efficient 4 step process:

Step 1

The first step is in the process is the transfer of the funds, made up of the agreed price and the Trustap fee, to the Trustap hold.
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At this point it is then over to the seller to send the item via registered post. The seller has 48 hours to input the tracking information into the app and move the transaction onto the next phase.If the seller fails to input the tracking information from the package within the allotted time frame then the funds are returned to the buyer’s account and the transaction is cancelled.It is within the seller’s interest to enter the correct tracking information or the next phase of the transaction can’t happen and they will not get paid. 

Step 2

Once the tracking information has been verified, if either party checks the status of that transaction at any time during this phase, they will then be notified that the package is on route.
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Because this phase is linked to the courier or postal companies own tracking system, this provides users with an up to date status and rough timeframe of their transaction. This in turn provides this valuable peace of mind to them that they know the whole process is under control.

Step 3

Due to the fact that both parties know that the funds will be held for 24 hours after confirmation of delivery has been received, the timeframe for this step will always remain the same.
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Once the buyer in the transaction signs to receive the item, the 24 hour time period begins. The funds will remain held for this 24 hour time period and will be automatically released to the seller after the time has elapsed. If the buyer lodges a complaint, the funds will remain held and the reverse of the transaction will take place whereby the buyer must return the package to the seller within the seller time limit (48 hours). Once the seller signs for the package, the funds will be released. The Trustap fee is non-refundable however. Working on the assumption that this example had no dispute, step 3 is the notification to both parties that the package has been delivered to the buyer and that the funds have been released from the Trustap hold and are on route to the seller’s account. Depending on the bank, the timeframe for this step can vary.

Step 4

When users check to progress of a transaction, and it has been completed fully, they are showed this status they select the relevant transaction in “My Transactions”.
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Step 4 notifies users that the transaction has been successfully completed.

Detailed Questions
What is the transaction price?

The transaction price is the amount of money that will be transferred in return for the delivery of the item in question. i.e. It is the price that the seller has agreed to sell the item for, and the price that the buyer has agreed to buy the item for.

What is the Trustap fee?

The Trustap fee is the cost of using Trustap for that transaction. The fee depends solely on the amount of money that is being transferred. See the “pricing” tab in the About Trustap & How it works section.

What is the total fee?

The total fee is the total amount coming out of the buyer’s account. This is simply just the sum of the agreed transaction price and the Trustap fee. For example: If one user is buying a ticket off another user for $50, and the Trustap fee is $3.49, then the total amount coming out of the buyer’s account will be $53.49.

Who pays the fees?

The recommended process for the fee paying is outlined in the About Trustap & How it Works section.
It is recommended that the most logical way to deal with the fees involved are to get the buyer to pay the Trustap fee and the seller to pay the delivery fee. These fees will roughly cancel each other out. In any situations where this is not the case or users do not want to structure the transaction that way, users will have to factor in the necessary fees into their agreed price.
In the case of refunds, the buyer must pay for the package to be returned to the seller. In exceptional circumstances, a claim form will be made available and Trustap will refund the cost of the delivery.

What is escrow?

If money is in escrow it means it is being held by a third party (Trustap) on behalf of the other two parties (buyer & seller) in a transaction. With Trustap, the funds are held for 24 hours after the buyer signs for the item in question.

Why 24 hours?

Extensive market research has shown that 24 hours is the ideal length of time for a buyer to inspect an item, determine if it is legitimate or else get a second opinion.

Who pays the Trustap fee per transaction?

The trustap fee per transaction is a very small fee that is dependent solely on the amount of money that is being transferred. Trustap’s fees are lower compared its competitors, at only 1.8% per transaction. This provides huge value to customers considering they are getting an increased level of transaction security. The Trustap fee will come out of the buyer’s account in addition to the transaction price that has been agreed between both parties. This is something that can be talked about with the seller in advance and an agreement could be made to reduce the total fee to take the Trustap fee into account.

How and when do I send the item in question?

The seller has 48 hours to send the item and input the correct tracking information before the transaction will be cancelled and the buyer will be refunded.
REMEMBER: The seller must send the item via registered post or a courier so that there is a tracking number associated with the delivery. Failure to do this and input the tracking information (including the courier or delivery service used) within the time limit will result in the funds being returned to the buyer. The seller in the transaction must send the item in question and input the tracking information (including the courier or delivery service used) within 48 hours of notification that the buyer has lodged the funds into the Trustap hold. To speed up the transaction, it is recommended that this is done as soon as possible after the buyer transfers the funds.

How and when do I send the money?

As soon as both parties have agreed to a price for the transaction, and all the other necessary information has been entered correctly, the buyer’s funds will be transferred to the Trustap hold.
REMEMBER: The seller will not receive these funds until the buyer has received and is happy for the item in question or the 24 hour complaints period has passed.

When do I input the tracking information?

The seller in the transaction must send the item in question and input the tracking information (including the courier or delivery service used) within 48 hours of notification that the buyer has lodged the funds into the Trustap hold. Once the funds have been lodged into the hold by the buyer, the seller’s screen will show a box within which all the necessary details about the courier or delivery service used as well as the unique tracking number assigned to that delivery will need to be entered. You will receive the tracking information from the post office or courier company you use as soon as you pay for the item to be sent and so it is recommended to input these details as soon as possible to avoid any errors.

How do I know what stage the transaction is at?

Once all the necessary details have been agreed for a transaction, each user will be able to check exactly what stage their transaction is at. This means that buyers can see what their seller has done, including where the package is at, and likewise sellers can see if the buyer has deposited the funds and whether the package has been signed for. Users just simply have to click back into the relevant transaction in the “My Transactions” section and the graphic will illustrate to them exactly what stage the transaction is at.

Buyer Questions

To find out how Trustap can work for buyers in a transaction, please visit our About Trustap & How it Works section. If you can’t find the answers you’re looking for there, take a look at our FAQ’s:

How do I start a transaction as a buyer?

Please view the “Overview of the process (With Screenshots)” heading.

How do I join a transaction as a buyer?

Please view the “Overview of the process (With Screenshots)” heading.

What if I sign for the package and then I realise I don’t want it?

If you sign for a package and realise you don’t want it within the 24 hour period then you can lodge a complaint and folow the refund process. A buyer will only not be able to receive a refund if they have signed for the package or someone else has signed for the package on their behalf and they have allowed the 24 hour escrow period to elapse. It is essential to complain within the time period if you are disatisfied.

What if I won’t be there to check/sign for the item?

If circumstances mean that you won’t personally be able to sign for your item, then you must contact the postal company or the courier company that is being used and provide an alternative address for someone who is able to sign for the item. Alternatively, you could contact the delivery company and provide instructions as to where to leave the package, which will also start the 24 hour time period.

Seller Questions

To find out how Trustap can work for sellers in a transaction, please visit our About Trustap & How it Works section. If you can’t find the answers you’re looking for there, take a look at our FAQ’s:

How do I start a transaction as a seller?

Please view the “Overview of the process” heading near the top of the About Trustap & How it Works section.

How do I join a transaction as a seller?

Please view the “Overview of the process” heading near the top of the About Trustap & How it Works section.

What if the seller doesn’t send the item at all?

The seller in the transaction must send the item in question and input the tracking information (including the courier or postal service used) within 48 hours of notification that the buyer has lodged the funds into the trustap hold. Failure to send the item and input the information within the time limit will result in the funds being returned back to the buyer immediately.

What if the seller claims that goods that have been returned to him are not the ones originally sent?

If the situation arises that a buyer has elected to return an item within the time period, and has followed all the necessary steps and returned it to the seller, but within the 24 hour time limit the seller isn’t satisfied that the items are the same as the ones originally sent out, then the seller must send the package to: Trustap HQ, 1 Concord Drive, East Falmouth, Martha’s Vineyard, Ma 02536 to launch a fraud investigation.

Payment

To find how the payment aspect of each Trustap transaction works take a look at our FAQ’s:

What if the price we agreed isn’t right or we can’t agree on a price?

No transaction will be processed until both parties agree to the full transaction price including the Trustap fee. This means that both parties must be in full agreement of all the terms before any money changes hands

How do I know the payment is safe when I’m using Trustap?

Trustap’s payments are secured by Stripe. Trustap uses Stripe’s “Connect” platform to manage all its payments meaning they are secured to the highest possible level against any form of fraud. Visit https://stripe.com/connect for more details.

When will my account be credited (buyer)?

Your account will be credited as soon as you confirm the transaction as the money will leave your account and go into the trustap hold account. It will not leave that hold account until you have received and are happy with the item you purchased.

When will my account be debited (seller)?

Your account will be debited as soon as the buyer signs for the delivery and the 24 hour escrow period expires.

Delivery

To find how the delivery aspect of each trustap transaction works, take a look at our FAQ’s:

Does it matter how I send the item?

The only stipulation on how the item is sent is that it must be sent via registered post or via a courier. It is essential that there is a tracking number for each transaction or the buyer will be refunded after the 48-hour time limit expires.

Does it matter which company or post office I use to send the item?

You can use any courier company or postal service you like as long as the item is sent via registered post or via a courier that provides a tracking number.

What if package/item doesn’t arrive or gets lost in the post?

If a scenario arises that there is evidence of a package being shipped but the package is taking an abnormally long time to arrive then it is best to contact the courier or delivery company used directly.

What if item is damaged in the post?

If an item arrives, and has been damaged in the post, then it is best to contact the courier or delivery company used directly.

How much does postage cost?

Postage fees vary between different companies and postal services. Trustap advize that users check to see which companies can provide the best value deal for their item as prices will depend on size of the package and the distance it will need to be shipped.

Who pays for the postage cost?

The seller will have to incur the cost of the postage when they send the item off. However, this, like the Trustap fee, could be negotiated between the buyer and the seller and factored in to the price being paid for the item.

Cancellation & Refunds

To find out how Trustap can eliminate the risk from your transaction check out the step by step guide near the top of the About Trustap & How it Works section. If you can’t find the answers you’re looking for there, take a look at our FAQ’s:

Can I cancel a payment?

Users will be unable to cancel a payment once the details for the transaction have been confirmed and the transaction has begun. However, if both parties are in agreement that the payment can be cancelled then the money will be returned to the buyer regardless after the 48-hour time limit. The money will also be returned to the buyer if the package is returned back to the seller as is described in the “Buyer” tab.

How do refunds work?

In the case of refunds, the buyer must pay for the package to be returned to the seller. In exceptional circumstances, a claim form will be made available and trustap will refund the cost of the delivery to the buyer. It is important to note that the buyer and seller swap roles when a refund takes place.
REMEMBER: The seller(formerly the buyer) must return the item via registered post or a courier so that there is a tracking number associated with the delivery. Failure to do this and input the tracking information (including the courier or delivery service used) within the time limit will result in the funds being paid out as normal. The seller(formerly the buyer) in the transaction must re-send the item in question and input the tracking information (including the courier or delivery service used) within 48 hours of lodging a complaint. To speed up the transaction, it is recommended that this is done as soon as possible after lodging the complaint.
Contact us at help@trustap.com to receive any advice as to what to do in your particular scenario.

How do I complain or report fraud?

If you are a buyer and believe that you have not received value for money you can always return the item to the seller as is described in the “Buyer” tab. If this hasn’t worked out for whatever reason and you wish to make a complaint, then feel free to contact us at help@trustap.com and we will do our best to solve your problem.

What if buyer isn’t happy and seller claims he returned the wrong item?

If the situation arises that a buyer has elected to return an item within the time period, and has followed all the necessary steps and returned it to the seller, but the seller isn’t satisfied that the items are the same as the ones originally sent out, then the seller must send the package to: Trustap HQ, 1 Concord Drive, East Falmouth, Martha’s Vineyard, Ma 02536 to launch a fraud investigation.

My Profile

Coming soon.

More Help

If you still have some questions about how Trustap works or have any issues at all after checking this section, why not see if you can find some answers in our How it Works section?

If those two sections can’t solve your problem, then feel free to contact us at help@trustap.com and we’ll do our best to help with any of your issues!

 

 

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