Does ProTask have an Escrow service?
Whilst we would like to provide an escrow service to our members, ProTask is unable to do so at this time as Australian Financial Services legislation requires that to provide an escrow service we must hold an Australian Financial Services License. The cost of obtaining such a licence is such that we do not believe it to be commercially viable at present. Nevertheless as ProTask continues to grow it is anticipated that an escrow service or similar arrangement will become part of the services offered on the site in the future. Currently we have been unable to find a third party escrow service provider in Australia that is willing to handle large volumes of relatively small transactions. The Banks and Escrow companies contacted by ProTask were only interested in providing escrow services for large transactions such as the purchase of expensive motor vehicles, boats, or property and charge relatively large fees for their services. However, should you represent an Escrow company or are awa
