Frequently Asked Questions Need Answers?

Below are answers to the questions we’re asked most …
… plus a few we think are important too.

If you have a complaint about any aspect of our service, then we would like to hear from you.

For full details, please download our Complainant Procedure.

Escrow is the term used when a 3rd party, like Truzo, holds the buyer’s money securely and only releases payment to the seller when they deliver the products or services bought. In this way, buyers get what they’ve paid for without being scammed and sellers get paid on confirmed delivery without having to wait for payment. It’s a win-win for both buyers and sellers.

Truzo (Pty) Ltd (2016/390144/07) is an Authorised Financial Service Provider (FSP 51539).

Truzo, from the words TRUst ZOne, is an independent Escrow Payment Platform. Unlike other escrow services, Truzo is regulated by the Financial Sector Conduct Authority (FSCA), registered with the Payments Association of South Africa (PASA) and does strict compliance checks on every Truzo user to make sure your personal and/or business TRUst ZOne is safe and secure. 

It’s the safest way to buy and sell with strangers. Using Truzo means not worrying about getting scammed because all registered users are fully vetted and verified, you don’t have to chase for payment and it’s so easy to make and receive payments, via Credit card/ Debit card/ Instant EFT or EFT. You’ll have your own personal or business Trust Zone every time you buy or sell.

Not at all. You may use either the app or the website on their own or both at the same time. The app is available for your convenience.

Your Truzo wallet is like a digital version of the real wallet or purse you carry around. The available balance in your wallet can be used to buy goods using Truzo or it can be transferred into your bank account by making a withdrawal request.

  • Credit Card – convenient but costs a little more
  • Manual EFT costs very little but the process takes longer
  • Instant EFT – also convenient but costs a little more
  • Truzo Wallet – by far the best option for both convenience and price.
  • Truzo users can’t trade in any illegal goods/services, sanctioned goods/services, unlicensed goods/services (where a licence is required by law to sell/buy/trade in), and anything that is not in Truzo’s risk appetite, as per our T&C’s.

Individual Registration

Individual registrations should not require documentation. Should our automated verification fail, Truzo may require manual verifications as follows:

  1. Proof of ID
  2. Proof of Address
  3. Proof of Income/Employment
  4. Proof of Bank Account


Business Registration

Business Registration is a little more complex, depending on the type of business being registered. Both SA Registered Company (Private Company – Pty Limited) and SA Registered Closed Corporation (CC) should be verified automatically, but if documents are required, it will be a copy of your CIPC CoR 15.1 (Memorandum of Incorporation).

Other business types:

  • Listed Company (on recognised stock exchange)
    • Official Incorporation Documents and
    • Proof of Listing on Stock Exchange
  • Foreign / External Company (Non-SA registered)
    • Official Incorporation Documents issued upon registration
  • Sole Proprietor
    • Is treated as an Individual
  • Trust
    • Trust Deed and Letter of Authority
  • Partnership
    • Partnership Agreement
  • Charity / Foundation / Non-Profit Organisation
    • Constitution / Official Incorporation Documents

Anyone, really. Personal and business profiles can be registered.

Yes. Truzo users are verified to make sure users are who they say they are and is done automatically while registering.  In some case Truzo may need you to upload some documents to verify your registration.

Verification should be immediate (thanks to our awesome development team) but it is possible we’ll need to ask for more information and/or do some manual verification which could take up to 24 hours.

Verifications are done with KYC (Know Your Customer) agencies.

Verifications are done every 12 months or every time you change important information like bank details or your physical address.

Truzo fees are based on a sliding scale depending on the value of the transaction and the payment method chosen. Visit the fees page to see the various available options.

While we strive to keep costs as low as possible, these fees are subject to change. If you’re a subscriber, we’ll be sure to let you know if they do using your preferred method of contact.

The buyer automatically pays the Truzo fees unless you both agree to split the fee 50/50.

Yes. VAT is charged on all Truzo fees.

No. There are no monthly fees on the Truzo platform. Truzo works on a fee per transaction basis. So you only pay a fee relating to the transaction you create. 

After registering, it’s just 4 easy steps!

  1. Agree: Buyer, seller and agent, if present, agree to the terms of the transaction.
  2. Secure: Verified buyer commits to a transaction by paying money into a secure escrow account.
  3. Deliver: Verified seller delivers the products or services, as agreed with all the parties.
  4. Pay: Once approved by the buyer, Truzo releases funds to the seller and/or agent.

Whether the inspection days are over or the buyer releases the money, you can expect the money to show in your Truzo Wallet within 24hrs. Any money in your Truzo Wallet can be transferred into your bank by simply clicking “Transfer”. It usually takes about 24hrs for Truzo to make payment and depending on your bank’s rules, the money will be available in your account within 24hrs-48hrs.

The inspection days are there to give the buyer enough time to check that they are happy with the goods or service they received. The seller clicks delivered and the clock starts ticking on the inspection days. When the inspection days are over, the money is automatically paid to the seller.

First contact the seller to see if you can fix the problem. If the inspection time is almost over you should dispute the transaction to stop your money being automatically paid over. If you and the seller can’t agree then Truzo can help with arbitration, but it will cost you.

Yes, you can change the number of inspection days. It’s completely customisable. You can also edit the number of inspection days by editing the transaction details.

Absolutely. Truzo is the safest way to buy and sell. Truzo is:

  • is an Authorised Financial Service Provider (FSP 51539)
  • is regulated by the Financial Sector Conduct Authority (FSCA)
  • is registered with the Payments Association of South Africa (PASA)
  • does strict compliance checks on every Truzo user
  • has Professional Indemnity insurance cover in place for your peace of mind
  • is backed by Envisionit Capital Solutions & Founders Factory Africa as shareholders and
  • is an international business with offices in Johannesburg and London

All our systems are hosted by Amazon Web Services (AWS) and all information handled by us is encrypted using the latest technologies, protected by and processed in accordance with PCI Security Standards Council (PCI DSS) and ISO27001 standards. What does that mean? It means that your information cannot be traced, intercepted or used by unauthorised third parties.

All infrastructure devices that are used to provide this service are properly maintained, patched and assessed for any vulnerability or outdated components. Truzo uses appropriate physical and software measure, including but not limited to firewalls, anti-malware and intrusion detection and prevention software, to ensure continued and uninterrupted service.

Data privacy is a human right. That is why Truzo is committed to the privacy and confidentiality of information provided to us in compliance with all relevant legislation, including the Protection of Personal Information Act, 2013 (“POPI”) and General Data Protection Regulation (GDPR) (EU) 2016/679. We will never sell or use your information for anything other than communications about the Truzo platform and to perform verifications checks for compliance.
Truzo needs your details to verify that you are who you say you are. It’s how they make sure you have a scam free, safe space to buy and sell stuff.
First contact the seller to see if you can fix the problem. If the inspection time is almost over you should dispute the transaction to stop your money being automatically paid over to the seller. If you and the seller can’t agree then Truzo can help with arbitration, but it will cost you.

Arbitration thresholds and fee tables below:

under R 100,000.00Truzo appointed Arbitrator – decision is final.
R 100,001.00 to R 3,000,000.00Truzo panel of Arbitrators for parties to agree and select from.
over R 3,000,000.00Truzo panel of Arbitrators to select from or can provide their own.


under R 15, 000.00R 1,500.00 (10%)
R 15, 001.00 to R 30, 000.00R 3,000.00 (10%)
R 30,001.00 to R 1,000, 000.0010% fee
above R 1, 000,001.002-5% fee, based on the complexity of the transaction

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