Escrow.com not approving payment??

[john888]

I have a domain sale transaction where the buyer has paid by wire and Escrow.com has received the funds. They still need additional information from the buyer before approval of payment. This is a transaction using Escrow concierge. Because of privacy reasons they won't give me any info. Anyone have experience of holdups like this one??

 

[karmaco]

Never used concierge and my experience with normal transactions there is lots of excuses and very slow to pay. Hopefully its resolved quickly. The question becomes why did they accept a payment with some pertinent info they require missing? It makes no sense.

Are you watching the whois? Has the domain pushed from them to the buyer yet?

 

[Daniel Owens]

I have a domain sale transaction where the buyer has paid by wire and Escrow.com has received the funds. They still need additional information from the buyer before approval of payment. This is a transaction using Escrow concierge. Because of privacy reasons they won't give me any info. Anyone have experience of holdups like this one??

Yeah, it would take like 10 days to get paid. You'll need to double check & ask escrow how long you should wait for payment before expediting it to a payment claim. Regards

 

[john888]

I assume that the buyer is using a different last name on either her Escrow account sign up, her ID or Bank wire transfer. She uses two last names maiden name with married name so maybe her Bank wire is from an account with just the maiden name. Escrow has the money. I am waiting to push the domain to Escrow since Escrow hasn't approved the buyers payment.

 

[matt_2004]

I am having an issue with Escrow receiving funds from a dubai based buyer. Its now 10 days since funds have been sent. Instead of adding comfort its adding a lot of insecurity for the corporate buyer.

Any alternatives going forward? Especially for non US buyers? Crazy how how slow it is in this day and age.

 

[NameInbox]

Escrow is super slow​

In future be aware. More info here
https://www.trustpilot.com/review/escrow.com

 

[davidc1]

forget escrow.com if buyer+seller is not US...
prefers daaz, dan, sedo

 

[Revisiting]

Not sure how much this is impacting on our American cousins but there has been a big tightening-up on banking transactions across Europe and here in the UK. Even something as small as omitting a middle name or letter can result in a failed transaction. We all knew it was coming but I don't think many expected such an impact on daily life. You have to be so precise where as before as long as banking codes matched all was OK. Many transactions particularly from those with multiple bank accounts can be held up or most likely subject to additional verification checks.

When all the warnings were first publicised we naturally thought it was cracking down on wire fraud and money laundering but many financial institutions have withdrawn their services due to new compliance rules.

 

[matt_2004]

I am having an issue with Escrow receiving funds from a dubai based buyer. Its now 10 days since funds have been sent. Instead of adding comfort its adding a lot of insecurity for the corporate buyer.

Any alternatives going forward? Especially for non US buyers? Crazy how how slow it is in this day and age.

Tomorrow its 2 weeks since transfer was started. Both sides have been in touch with them. I really hope buyer made a mistake when making transfer for all sides involved.

… still waiting.

 

[john888]

As of yesterday Escrow approves the payment. Maybe the buyer initially sent a partial payment. I will never know. Now Escrow is "waiting for the buyer to respond with their own set of details". It is concierge service so I am left in the dark as it Chugga Chuggas along.

 

[premkumar]

Any update, you solved your problem?

 

[john888]

Yes, the buyer thought she could leave the domain at Escrow since it was already paid for. I recieved an email from another prospective buyer and told her to cancel the sale if she was having second thoughts. That email got things moving. She opened an account at Godaddy and domain was pushed and the money was sent to me. Total time 5 weeks because of slow buyer.

 

[alcy]

that's why they are called escrow... to make sure all good...and reject payment if not

 

[premkumar]

So escrow.com didn't gave you what's the issue is? And 2nd buyer, how she paid the money through Escrow.com?

 

[matt_2004]

It took 2 months to complete the escrow work. Only reason it closed is I asked the customer to request the money be sent back. Probably due to KYC (know your client) paper work but clear they had no incentive to get it done fast. Not using again outside of US.