Frequently asked questions

For money held between two parties in TwoHold, mutual agreement must be received before any funds are sent to the seller or buyer. The exception is where the buyer has the option to release all funds to the seller as expedited payment.

Neither party can simply “withdraw” the money. Sellers cannot access funds without the approval of the buyer. Likewise, buyers cannot withdraw the funds without the action first being proposed by the seller. It’s therefore in the utmost interest of both parties to resolve disputes amongst themselves to access the funds held in TwoHold. When a compromise or conclusion is reached, TwoHold will release the agreed funds to both the buyer and the seller. If a compromise cannot be reached, parties will need to pursue the usual legal channels in their jurisdiction.

The seller requests an amount of money be secured in TwoHold in order to satisfy a particular condition. The funds are paid into TwoHold by the buyer, and both parties are advised the funds are secured in TwoHold. Once the conditions for release are met, the seller requests release of the funds. If the buyer approves, the funds are released.

Money in TwoHold is paid directly to an Australian APRA regulated deposit taking institution (currently ‘Wise’) and held ‘at call’ in local currency. When a release request is approved by both parties, TwoHold passes this information on to the bank who makes the payment directly to the appropriate party or parties.

Escrow is a contractual arrangement where a third party receives, and then disburses funds on behalf of two other parties subject to certain conditions.

All money in TwoHold is deposited in at-call accounts and immediately accessible.

See our pricing page for more information.

TwoHold has been designed with most situations and industries in mind. There are no minimum or maximum transaction amounts.

Yes. Provided both parties agree – funds that have not been released to the vendor can be refunded to the customer.

You can make payments into TwoHold via bank transfer.

Please note that TwoHold does not accept cash, cash deposits or cheques. These funds will be returned to you at your expense.

TwoHold is required to collect and verify information on all clients in order to comply with Anti-Money Laundering and Counter-Terrorist Financing legislation. You may pass the required ID checks online or you may receive a phone call from our office to confirm your identity as an individual or company. It’s easy and takes less than two minutes in most cases.