Auction / Escrow Process
Escrow protection.
Shift and Bids offers escrow service to protect both buyers and sellers during the post auction money transfer process.
Buyers can rest assured that their payment will be held in escrow until all conditions of the sale are met.
Prepare for the money transfer.
Gather the necessary wiring details and bring it to your personal bank an initiate the wire transfer.
- Check your email for wiring instructions from Shift and Bids.
- Initiate the wire transfer within 3 business days.
- Arrange for shipping if needed.
- Inspect the car upon arrival and confirm its condition.
- Approve the money transfer. Money will be released to the seller.
Is a wire safe?
Yes! wire transfer is the safest and fastest way to transfer money. Many businesses rely mainly on wire transfers for large transactions.
What if the vehicle has a lien or payoff?
We will use the escrow money to pay off the lien and send the remaining amount to the seller.
How much does a wire transfer cost, and how long does it take?
Typical fee is about $15-$30 depending on your bank. We'll receive it within 1-2 business days.