Chrono24 escrow question.

TriSum · Apr 23, 2021

Dedalus05
Sorry you didn't get the watch you had your eye on. You may want to reconsider at some point. There may be a grail that comes up on Chrono24 that you want - where a risk/benefit analysis will skew towards having the watch. If/when that time comes, if it is any comfort I expect Chono24 would have to have very, very strict data protection policies in place to secure a European banking license (which is essentially what escrow is to my understanding). The EU data protection laws are very strict indeed - though no database is truly a fortress. Still I am guessing again, so it might be worth asking them for your own piece of mind.

Again, shame about the watch. Any pics?

I understand their purpose for asking and was willing to oblige to an extent. I sent them my ID, all I did was block the actual DL number, everything else was legible and they wouldn't accept it. It is what it is, identity theft is not worth it to me. I'm not saying Chrono would try and steal my identity, but you never know who the employee is on the other side. Again, I understand why they do it, it's just not for me.

Here is the watch I was looking at. I ended up finding one local to me, so it ended up working out in my favor anyway.

TriSum · Apr 23, 2021

hronists
Interesting. I have chrono24 account for ages, purchased watches and I don't recall them asking proof of ID. My latest purchase was 3 weeks ago, less than 5k, maybe they have some threshold when KYC and AML procedures kicks in?

If they'd asked proof of ID I'd sent them, chrono24 is a reputable marketplace, I see no harm.

I agree, all I did was block my DL number, no reason they need that, but they declined it. Soo....

Dedalus05 · Apr 23, 2021

TriSum
I agree, all I did was block my DL number, no reason they need that, but they declined it. Soo....

Apropos of this. I never worked in the security or fraud department, but the outfit I work for would pay a service to verify customers. A client would call up - never having had an account with us - and they would give some basic details to open the account (name and address I think). But before they could make a transaction for money they would be asked a security question to verify their bona fides. For example, "What was the make of your first car?". If they couldn't answer the question (or answered incorrectly) they couldn't open an account. It astonished me, and would f**king floor the customer, that the agent on the phone knew the answer to this question already.

It was 15 years ago I first saw this. God knows what access to data they have now.

TriSum · Apr 23, 2021

Dedalus05
Apropos of this. I never worked in the security or fraud department, but the outfit I work for would pay a service to verify customers. A client would call up - never having had an account with us - and they would give some basic details to open the account (name and address I think). But before they could make a transaction for money they would be asked a security question to verify their bona fides. For example, "What was the make of your first car?". If they couldn't answer the question (or answered incorrectly) they couldn't open an account. It astonished me, and would f**king floor the customer, that the agent on the phone knew the answer to this question already.

It was 15 years ago I first saw this. God knows what access to data they have now.

Exactly! I am a Private Investigator, the amount of information that is available these days is unbelievable. With that being said, there is even information that I have to have specific reason to get, like SSN and DL numbers because these are pieces of information that put together an identity. This is not information an escrow service needs to verify I'm the person buying a watch, at least not in my book.

Butik · Apr 23, 2021

I had a few experiences on CH24, both as buyer & seller. I have been selling private to private and buying from dealers. Never had an issue with escrow service again - both ways. Had two instances when I had to reject the watch and it always worked perfectly well. I hear some strange stories about CH24, but never had any problems, even when needed customer service assistance.

Chrono24 escrow question.

TriSum

TriSum

Dedalus05

TriSum

Butik

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