Escrow.com problems

[elmoney]

We created a transaction for a domain transfer in escrow.com, they accepted my bank account confirmation, and after received and secured payment from a buyer, they sent me an email about didn’t support my country.
Why they didn’t inform me before? It's their fault. How will I receive and open bank account in another country? I have no way to go to another country for open an account to disburse escrow funds.
What do you advise?

 

[MarketingArchi]

try to find something like borderless account, transferwise and payoneer has it.
open, go through verification and you will be able to get accounts in top tier countries like Germany, US, Australia, New Zealand

ps: don't know if it would work with escrow though.

PS2: do they offer PayPal withdrawal ?

 

[DanSanchez]

Two questions, has the domain been exchanged yet? Has the buyer been made aware of the issues you are facing?

 

[elmoney]

Two questions, has the domain been exchanged yet? Has the buyer been made aware of the issues you are facing?

Buyer did not know about it, he want to transfer to namecheap account via escrow.com

 

[DanSanchez]

Okay, inform the buyer of the issues and tell them Escrow.com failed to inform you of the requirements for disbursing the funds to you after the domain is delivered.

 

[elmoney]

Thank you Dan.
Sure, i will be glad to your offer to help.

 

[elmoney]

Escrow.com must to send emails and inform his clients about changes in their work, but they did not do it!

 

[DanSanchez]

Don't worry I will try to help get this deal closed. Sometimes buyers may believe one solution is reliable until it isn't. Things have to work for both parties. Unfortunately this had to happen to you now, lesson learned.

Look at the bright side, you have a good problem on your hands! Someone wants to send you money =D

 

[Internet.Domains]

What do you advise?

I advise you to cancel any and all Escrow.com transactions.

Use Epik escrow, it is safer, much safer, because they are an accredited registrar that handles the nuances of domain transfers. This is a major benefit that you only get at Epik.

Use Epik, safer (for buyer & seller), more secure, faster payouts, less expensive and better customer service. Use Epik, it's really a "no brainer."

 

[bmugford]

I advise you to cancel any and all Escrow.com transactions.

Use Epik escrow, it is safer, much safer, because they are an accredited registrar that handles the nuances of domain transfers. This is a major benefit that you only get at Epik.

Use Epik, safer (for buyer & seller), more secure, faster payouts, less expensive and better customer service. Use Epik, it's really a "no brainer."

I use still use Escrow.com. In fairness, it can be a bit of a pain in the butt from time to time.

However, Escrow.com is actually a licensed escrow company in every state.

Is Epik?

Brad

 

[Rob Monster]

I use still use Escrow.com. In fairness, it can be a bit of a pain in the butt from time to time.

However, Escrow.com is actually a licensed escrow company in every state.

Is Epik?

Brad

The topic has been discussed at length:

https://www.namepros.com/threads/if...scrow-you-are-wasting-time-and-money.1119508/

For most transactions, our marketplace is actually ample for both selling and leasing.

However for customers who are transacting larger amounts, know the buyer, and/or have unique terms, our escrow product may be applicable.

When we do an escrow transaction, our process is straight forward:

- The seller deposits the domain in their registrar account.

- The buyer deposits the purchase price in their registrar account

- We do a simultaneous close, buying the domain from the seller, and selling the domain to the buyer.

For transactions where the buyer is paying with wire or BTC, and the domain was on Epik, it can be usually be done without fee.

Many transactions are completed, start to finish, within hours.

A forthcoming escrow dashboard coming online this month should make the experience highly automated, allowing transactions to be done even more quickly, 24/7 in many languages.

 

[biggie]

We created a transaction for a domain transfer in escrow.com, they accepted my bank account confirmation, and after received and secured payment from a buyer, they sent me an email about didn’t support my country.
Why they didn’t inform me before? It's their fault.

Hi

I have used Escrow.com for over a decade.

but for those around the world, here is list of countries that Escrow.com does not support:

https://www.escrow.com/support/faqs/what-countries-regions-are-not-supported-by-escrowcom

hopefully @DanSanchez can help and you'll get the sale completed

imo...

 

[bmugford]

Hi

I have used Escrow.com for over a decade.

but for those around the world, here is list of countries that Escrow.com does not support:

Alabama, United States. LOL

 

[biggie]

Alabama, United States. LOL

I just chatted with escrow
here's the reply
"We are not able to provide service to this state for banking restrictions and reputation"

that's odd and interesting at the same time

imo...

 

[Internet.Domains]

In fairness, it can be a bit of a pain in the butt from time to time.

That's too bad. That's why I recommended Epik.

However, Escrow.com is actually a licensed escrow company in every state.

Well, they (Escrow.com) are not an accredited registrar. An accredited registrar is much more important with domain transfers. Maybe, Escrow.com is better for a tractor or RV exchange, but with domains, Epik has the infrastructure to make for a safer transaction, for all parties.

 

[elmoney]

Used escrow.com 2011-2019, always was smooth and fast, this is the first incident. Escrow.com must to inform and close all accounts from countries, which no longer support.

 

[Furquan]

I use still use Escrow.com. In fairness, it can be a bit of a pain in the butt from time to time.

However, Escrow.com is actually a licensed escrow company in every state.

Is Epik?

Brad

They ask lots of document from buyer and seller. There are other services which do the same but not painful as escrow.com

 

[premkumar]

Escrow.com worked for me all the time. I use them for years. Not friendly but ok compare to others.

 

[AIS01]

use Dan or Epik for complete the transaction

 

[Bob Hawkes]

Buyer did not know about it, he want to transfer to namecheap account via escrow.com

I hope it works out for you - it must be stressful. I am unclear whether he has submitted funds already to Escrow or is locked in to them in some other way.

If he/she is not locked into Escrow another option would be to transfer it to Namecheap and then do it as a marketplace transaction there. They do not invoke the lock period for marketplace sales. Of course there is their 10% commission and also if the deal fell through you would be locked to a Namecheap sale or push for 30 days. You would not be able to use funds for 5 business days and there may be charges by PayPal for payments to your country.

Of course if Epik can help you with the transaction that is great and payment would be faster.

I really hope you get that sale done promptly.

Bob

 

[Bob Hawkes]

I just chatted with escrow
here's the reply
"We are not able to provide service to this state for banking restrictions and reputation"

that's odd and interesting at the same time

imo...

At NamesCon 2019 I did an interview with the CEO of Escrow.com and I recall he indicated that in US a separate agreement was needed with each state. My interview was primarily on other topics, and I did not make notes of this part, but I recalled at that time there were a few states they could not operate in. Appears now just Alabama.

Thanks for the link to Escrow.com countries and regions. I had not realized how many places they do not do transactions.

Bob

 

[Jurgen Wolf]

try to find something like borderless account, transferwise and payoneer has it.

They don't pay to Payoneer bank accounts, it was already stated by their representative in other threads.

 

[Jurgen Wolf]

do they offer PayPal withdrawal ?

No, as I know.

 

[Jurgen Wolf]

I recommend the following scheme:
Epik escrow for sales over $5K...
Sedo escrow in $1K-5K range...
Dan escrow for 3F sales.

 

[xynames]

I’d be interested to know if a borderless account from transferwise is accepted from outfits like escrow.com or PayPal. However I assume that you’d need to also claim a registration address in the same country where you claim to have a bank account if the financial institution’s policy doesn’t allow you to transact business from your country.

Also PP may flag your account if you give a registration address in one country and login from that country and then present a bank account from another country, or may flag you if your login IPs don’t match where you claim to be registered.