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Protective WearGeneral & Registration Information
What is TrustDrop?
TrustDrop is a secure transaction platform that protects buyers and sellers during online trade. The platform uses an escrow process where payment is securely held until the buyer receives the goods and confirms the transaction.
What is "Escrow"?
An escrow account is a secure account where funds are held on behalf of two or more parties until the terms of a transaction are fulfilled. It protects both buyers and sellers — ensuring payments are only released once agreed conditions have been met.
How is my money safe with TrustDrop?
TrustDrop has integrated with “TradeSafe” who is South Africa’s longest-running digital escrow service, protecting businesses and individuals from transactional fraud and bad debt
The escrow funds are held in a secure Standard Bank account.
Standard Bank has management oversight of the escrow account and are involved in the approval process for payment instructions.
The escrow funds are insured by iTOO, a division of Hollard. TradeSafe holds Crime & Civil Liability cover, including fidelity and professional indemnity insurance as underwritten by iTOO.
Auditing firm EY performs agreed-upon procedures, in terms of International Standards on Related Services, to ensure the validity and accuracy of the Transactions and Balances of our escrow account.
TradeSafe is an authorised Third-Party Payment Provider with the Payment Association of South Africa (PASA) in terms of SARB Directive 1 of 20
Why was TrustDrop created?
TrustDrop was created to reduce fraud and increase trust in community trading environments such as social media marketplaces, agricultural trading communities, and private peer-to-peer transactions.
Who can use TrustDrop?
Trust Drop can be used by:
- Farmers
- Beekeepers
- Online marketplace sellers
- Private buyers
- Small businesses
- Community trading groups
Anyone involved in buying or selling legal goods can use the platform.
Is TrustDrop a bank?
No. Trust Drop is not a bank. Trust Drop facilitates secure transactions by using escrow processes that hold funds until transaction conditions are fulfilled.
Do I need an account to use TrustDrop?
Yes. Both buyers and sellers must create a Trust Drop account before participating in a transaction.
How do I create a TrustDrop account?
Registration can be completed online by providing:
- Name and contact details
- Email verification
- Login credentials
Once registered, users can initiate or participate in transactions.
Is registration free?
Yes. Creating a TrustDrop account is free. Fees are only charged when using the escrow service for a transaction.
Do users need to verify their identity?
Yes. TrustDrop integration partner TradeSafe who is an authorised third-party payment provider, requires that we must perform a few verification steps to determine that you are who you say you are.
TrustDrop will require identity verification to maintain platform security and prevent fraud.
A valid South African ID number (or foreign passport number), a South African bank account number, an active email address, and an active mobile number to verify your profile.
To ascribe to provisions of the South African Financial Intelligence Centre Act (FICA), we are required to verify the source of funds as well as manage any potential risk of money laundering. As a measure, TradeSafe performs Account Verification Services (AVS) to ensure that the party is the bank account holder. We do this by agreeing the bank account number with their ID/passport number with their bank.
Can businesses create accounts?
Yes. Businesses and professional traders can create accounts and use TrustDrop for secure transactions with customers.
Process & How Transactions Work
How does a TrustDrop transaction work?
- Buyer and seller agree on a deal.
- The transaction is created on TrustDrop.
- The buyer pays the agreed amount into escrow.
- TrustDrop confirms the funds are secured.
- The seller ships or delivers the goods.
- The buyer confirms delivery.
- The funds are released to the seller.
When should the seller ship the goods?
The seller will receive a notification (e-mail; WhatsApp; sms) message from Trust Drop to confirm that payment was received from the buyer and funds are secured in escrow account
When does the seller receive payment?
Payment is released after:
• The buyer confirms receipt and satisfaction, or
• The confirmation period expires without a dispute – 24 – 48 hours
What happens if there is a problem with the transaction?
If a problem occurs, either party can open a dispute. TrustDrop will review the transaction and supporting evidence before deciding how the funds should be handled.
What happens if the buyer does not confirm delivery?
If the buyer does not respond within the confirmation period (24 – 48 hours), the transaction will automatically complete and payment will be released to the seller.
Can TrustDrop be used for Facebook or social media sales?
Yes. TrustDrop is designed to support transactions originating from:
- Facebook Marketplace
- Facebook trading groups
- Instagram sales
- WhatsApp sales
- Private online deals
Can TrustDrop be used with courier services?
Yes. Sellers may use courier companies to deliver goods.
TrustDrop recomends “Courier guy” and “Pudo” as preferred courier services.
Tracking numbers and delivery confirmations can be used as proof of shipment and that goods were delivered.
Can TrustDrop work with existing online stores?
Yes. Businesses can integrate TrustDrop as an additional secure payment option for customers.
Can TrustDrop support agricultural and farming transactions?
Yes. TrustDrop was specifically designed to support farmers, beekeepers, and agricultural communities that sell products directly to buyers.
How is my personal information protected?
TrustDrop uses secure systems and protocols to protect user data. Personal information is stored securely and used only for legitimate transaction and verification purposes.
Does TrustDrop share my personal information with other users?
Only the necessary information required to complete a transaction is shared between the buyer and seller involved.
Does Trust Drop sell user data?
No. TrustDrop does not sell personal data to third parties.
How does TrustDrop prevent fraud?
TrustDrop uses several safeguards including:
- Account verification
- Escrow payment protection
- Transaction monitoring
- Dispute resolution processes
Data Privacy, Fees & Shopping Cart
How is my personal information protected?
TrustDrop uses secure systems and protocols to protect user data. Personal information is stored securely and used only for legitimate transaction and verification purposes.
Does TrustDrop share my personal information with other users?
Only the necessary information required to complete a transaction is shared between the buyer and seller involved.
Does Trust Drop sell user data?
No. TrustDrop does not sell personal data to third parties.
How does TrustDrop prevent fraud?
TrustDrop uses several safeguards including:
- Account verification
- Escrow payment protection
- Transaction monitoring
- Dispute resolution processes
What fees does TrustDrop charge?
TrustDrop charges a transaction fee for the escrow service. The fee is calculated based on the value of the transaction and is displayed before payment is confirmed.
Who pays the transaction fee?
The fee can be paid by:
- The buyer
- The seller
- Both parties sharing the fee
The arrangement is agreed when the transaction is created.
Are there any monthly fees?
No. TrustDrop does not charge monthly subscription fees for standard users.
Are fees shown before payment?
Yes. All applicable fees are displayed before the buyer completes payment.
Can multiple items be included in one transaction?
Yes. Buyers and sellers can include multiple products in a single transaction.
Can businesses use TrustDrop with their online shop?
Yes. Businesses can use TrustDrop as a secure payment layer for their online sales.
Can buyers track their purchases?
Yes. Buyers can log into their TrustDrop account and view the status of their transactions.
Can users open disputes from their account?
Yes. Disputes can be opened directly from the transaction page within the user dashboard.
Disputes, Resolution & Trust
How do I open a dispute?
Users can open a dispute from their transaction dashboard if there is a problem with the order.
What evidence may be required?
Evidence may include:
- Courier tracking information
- Photos of goods received
- Communication records
- Transaction agreements
How long does dispute resolution take?
Resolution times depend on the complexity of the case and the evidence provided by both parties – not longer than 48 hours
What decisions can be made?
TrustDrop may:
- Release funds to the seller
- Refund the buyer
- Issue a partial refund if applicable
Why should I trust TrustDrop?
TrustDrop protects both parties by ensuring that:
- The buyer’s money is secure
- The seller only ships after payment confirmation
- Disputes are handled fairly
- Transactions are transparent and traceable
How does TrustDrop reduce fraud?
By acting as a neutral third party, TrustDrop prevents situations where money is paid without receiving goods or goods are shipped without guaranteed payment.