What do we do?

TransactSafe protects both the buyer and seller in high-value, global transactions, removing payment-related risk for both parties when dealing with unfamiliar counterparties and jurisdictions, and allowing both parties to proceed with confidence. We achieve this by offering an ‘escrow’ service. We handle transactions in USD, EUR, Bitcoin and other selected cryptocurrencies.

How Does Escrow Work?

First, both of the parties who wish to enter into a transaction sign our escrow agreement. The buyer then forwards the full amount (plus the escrow fee), as agreed in the contract, to TransactSafe’s UK bank account and TransactSafe notifies the seller to deliver the goods or services. Once the buyer has received and accepted the goods or services, Transactsafe forwards the payment to the seller, minus TransactSafe’s service fee. If the buyer disputes the delivery of the goods or services, both parties are bound to resolve the dispute through arbitration in the UK. Please see our Terms and Conditions for more details.

How Much Does It Cost?

For USD and EUR-based transactions, there is a 1% fee payable in addition to the transaction amount, with a minimum fee of €497.

Examples:

Transaction amount: €35,000
TransactSafe fee: €497 (minimum fee applies)
Total amount payable to TransactSafe: € 35,497

Transaction amount: €75,000
TransactSafe fee: €750
Total amount payable to TransactSafe: € 75,750

Advantages of Escrow

TransactSafe’s service is simpler, faster and cheaper than a letter of credit.

Example:

Credit Agricole letter of credit
Fee: 2-3%
Time: Minimum 3 days
(if all submitted documents are accepted by the bank)

Why TransactSafe?

TransactSafe LLP is a limited liability partnership, registered in the UK and managed by a qualified solicitor. All services are operated and payments are safeguarded in the United Kingdom under UK and EU law. TransactSafe specializes in large commercial transactions, and exercises the highest level of security and regulatory compliance.

Cryptocurrencies and ICOs

TransactSafe offers traditional or smart-contract-based escrow services for the protection of both parties in transactions which use the following cryptocurrencies: Bitcoin, Ethereum (and all ERC-20 tokens), Ethereum Classic, ZCash, Litecoin, Namecoin, Dogecoin, Dash and Bitcoin Testnet. (Please enquire if you wish to use another cryptocurrency).

We also provide escrow services for ICOs. Our fees for this service start at 2.5% plus an agreed pre-payment.

Note for ICO investors

It has come to our attention that we have been named as the escrow agent of an ICO transaction without having signed any agreement with that party. To protect yourselves from such fraudulent activity, please look at our list of active ICOs below or contact us to confirm that TransactSafe is the official escrow agent before you enter into such a transaction.

We are currently involved in the following active ICOs:
(none)

About Us

Graham Mitchell, Managing Partner

Graham is a British lawyer and strategy consultant with experience in the investment banking and high-tech sectors. He works as an external consultant for PwC and is currently the CEO of the strategy and innovation consultancy Consultivate. He obtained his Bachelor of Laws (LL.B.) from the University of Melbourne and a Masters in Business Administration (MBA) from INSEAD.

LinkedIn Profile

Photo of Graham

United Kingdom

TransactSafe LLP
27 Old Gloucester Street
London
WC1N 3AX
United Kingdom

  • contact@transactsafe.co.uk
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