Flippa Escrow - Can someone with on hand experience share the process please?

[ikhub]

Is there anyone who has sold his domain/website through the flippa escrow.? Or any link to such experience?
My listing in flippa has a bid above the reserve price from a buyer and I am really worried about the flippa escrow process as I had a bitter experience in another marketplace.
Can you throw light on how secure is the Flippa Escrow system for a seller?

 

[FlippaDomains]

You're absolutely safe with Flippa Escrow -- please email [email protected] so they can walk you through the process.

 

[Eric Lyon]

please email [email protected] so they can walk you through the process.

Please provide the steps (Or a link to the steps on your website) in this thread.

Thank you,

 

[Martin Turgeon]

Not so sure on how they are safe! They can choose to manipulate the seller! Yes it is safe for the buyers, but not for the sellers! I will add proof and screenshot here as well!.

I sold two websites and the buyer paid bia flippa escrow. I DID got the confirmation from flippa saying that they have the funds plus the support confirmed that they hold the funds. They then asked me to provide all assets to my buyer. (two website one of 109$ USD and one of 127 USD)

Now they buyer cannot release the funds and flippa told me that we cannot go forward with the sale (35 days after the sale date) They now ask me to take arrangement with the buyer so that he can pay with paypal... HE PAID ALREADY! I have proof as I print everything for this sale! and documented screenshots!

Seller should beware of flippa escrow as it looks like I will loose that money after flippa escrow told me it was safe to transfer everything to my buyer!

 

[Templr]

You're absolutely safe with Flippa Escrow -- please email [email protected] so they can walk you through the process.

The transaction is secure but as a seller I'm never alerted via email that the buyer has paid?

 

[Martin Turgeon]

NOT SAFE

Flippa escrow IS HOLDING THE MONEY AND THEY CONFIRMED THAT THE MONEY IS IN THE VAULT.
Now look the message I got just now !

They alerted me by email to confirmed that the funds are now safe and I MUST proceed with transfer of assets

Parnell P ( SITE ADMIN ) | Sent 5 hours ago

Hi there, unfortunately this sale will not be able to be processed via Flippa Escrow due to issues with the buyer account. Parties may continue via PayPal or dispute the sale to have it formally cancelled.


The sale was made 40 days ago and the buyer have the 2 website and 2 domain already! Now they want me to cancel... They confirmed that have the funds... So now I (seller) loose my money due to using this "safe" payment method

 

[voiceofreason]

You're absolutely safe with Flippa Escrow -- please email [email protected] so they can walk you through the process.

I have only found negative reviews about Flippa's Escrow service. It was PromisePay that is now rebranded as Assembly Payments.
Escrow.com has been around forever.
On another website someone mentioned that an investor in Flippa (board member), is also an Assembly Payments bigwig. It seems that Assembly Payments pressured Flippa to remove their much bigger competitor, Escrow.com, as a greedy ploy. And as Flippa states itself, buyer and seller can use ANY platform they want to complete the sale. As long as they agree on it.
But Flippa is using slippery language to make it sound like Paypal and Flippa's Escrow are the only ALLOWED options. Simply not true.
Flippa's assertion that they left the Flippa Escrow and Paypal buttons, but removed Escrow.com as an option in order to enhance a safer marketplace is outlandish. Escrow.com just won a bigtiem Ethics award to boot.
The ONLY safe way to accept Paypal and not worry about chargebacks is having buyers use paypal via Escrow.com.

 

[FlippaDomains]

Hi all,

Just wanted to clarify some of the points made in this thread.

In order to better facilitate transactions on the marketplace, we’ve moved towards the use of only Flippa Escrow as an escrow method within the Sales Completion Area.

Our aim is to provide the best support possible, and the integration of Flippa Escrow as our sole escrow function allows for agents to act quickly and effectively with any inquiries that arrive post-auction.

NOT SAFE

Flippa escrow IS HOLDING THE MONEY AND THEY CONFIRMED THAT THE MONEY IS IN THE VAULT.
Now look the message I got just now !

They alerted me by email to confirmed that the funds are now safe and I MUST proceed with transfer of assets

Parnell P ( SITE ADMIN ) | Sent 5 hours ago

Hi there, unfortunately this sale will not be able to be processed via Flippa Escrow due to issues with the buyer account. Parties may continue via PayPal or dispute the sale to have it formally cancelled.


The sale was made 40 days ago and the buyer have the 2 website and 2 domain already! Now they want me to cancel... They confirmed that have the funds... So now I (seller) loose my money due to using this "safe" payment method

We apologize for the inconvenience here Martin. I understand you have a ticket open with one of our Marketplace Integrity agents. We're currently working on a solution for you with our Flippa Escrow Team. Along with this, we're looking to fine-tune our processes moving forward so this does not occur again.

 

[Jelani Abdus-Salaam]

Damn Flippa has been getting wrecked lately. I use to promote them but now I think I'll reserve that for another platform

 

[voiceofreason]

Hi all,

Just wanted to clarify some of the points made in this thread.

In order to better facilitate transactions on the marketplace, we’ve moved towards the use of only Flippa Escrow as an escrow method within the Sales Completion Area.

Our aim is to provide the best support possible, and the integration of Flippa Escrow as our sole escrow function allows for agents to act quickly and effectively with any inquiries that arrive post-auction.



We apologize for the inconvenience here Martin. I understand you have a ticket open with one of our Marketplace Integrity agents. We're currently working on a solution for you with our Flippa Escrow Team. Along with this, we're looking to fine-tune our processes moving forward so this does not occur again.

Better facilitate ? Sellers were doing just fine using Escrow.com. And your own FAQ states that Sellers can offer any form of payment settlement as long as buyer agrees.
I received an email from Flippa that my payment was being released to me. Now I received an email that Flippa wants me to scan a photo of me holding my id next to my head. And uploading it to a cloud based host.
No. Just no.
I am a seller using my bank who has verified me to receive funds form your escrow partner who uses their bank, wells fargo, to send funds. I am not their customer.
You may chose to vet the buyer but that is not my concern.
There is nothing in the guidelines for KYC that require you to demand photo id held next to one's head.
This should have been discussed way before I transferred my valuable name away.
A satisfactory knowledge of a paying customer is all that is needed.
And I am not the one who needs to be vetted. The paying customer/the buyer is supposed to be vetted.
Seriously, to only offer Paypal (insecure) and Flippa Escrow as possible payment forms is too limiting and will not bring you more business.
How to I get my domain back now ?

 

[comati]

In order to better facilitate transactions on the marketplace, we’ve moved towards the use of only Flippa Escrow as an escrow method within the Sales Completion Area.

and that's your decision to make, a direct consequence should be that everybody moves away from your platform.

 

[deez007]

Seems to be multiple threads on NP about negative experiences with Flippa Escrow

 

[rafaelo0]

OK im seeing lots of threads about flippa escrow that when you complete a transaction and ask for payment release it shows a error and flippa will ask for a foto of you holding your id.

Is this happening to everyone rencently?

I use flippa escrow for almost 1 year and haven't had any problems, especially a problem like the one mention above, i like the flippa escrow service.

I was thinking of listing some auctions there but if they are asking me for a foto holding my id i will rather avoid auctioning this names there.

So is flippa asking for a foto of you holding your id to all flippa members or just to new ones?

 

[voiceofreason]

OK im seeing lots of threads about flippa escrow that when you complete a transaction and ask for payment release it shows a error and flippa will ask for a foto of you holding your id.

Is this happening to everyone rencently?

I use flippa escrow for almost 1 year and haven't had any problems, especially a problem like the one mention above, i like the flippa escrow service.

I was thinking of listing some auctions there but if they are asking me for a foto holding my id i will rather avoid auctioning this names there.

So is flippa asking for a foto of you holding your id to all flippa members or just to new ones?

Well, I am not new and they are requiring that from me. I have paid x,xxx in listing and success fees to Flippa and am in the US. I have a 15 year old cell phone number and am not a risk. Escrow.com and Payoneer did not present these issues when I used them.

My gut told me not to use them and my gut was right. I am primarily annoyed that they sent me an email that payment was released to me , when they didn't send it.

KYC is done BEFORE any escrow /transactions are to take place. And it is intended for customers of banks and financial orgs. I will state that anyone holding their id next to their face and sending it to the cloud is not being careful enough.
PLUS, Flippa Escrow requires one's full DOB and SSN. That is like the identity theft trifecta there.
Gives me nightmares just thinking about it!

I am sure there are all sorts of issues with having one party exchange goods for money and then putting up barriers to release after the fact.
My brother in law handles a lot of sensitive info and has clearances, so when I mentioned this to him, he practically SCREAMED at me to not share all that personal info online. He made a good point that any disgruntled employee can run off and sell all this private info.
Anyway, I simply will only check the paypal button from now on; since apparently many buyers do not bother to read listing copy on Flippa. Escrow.com accepts Paypal, so I am covered.
I really, really wish and pray that Flippa smartens up and adds an option for Sellers to write out their preferred form of payment.
If Flippa did that, a lot of sellers would write in Bitcoin and Flippa would make more money.
Instead they are leading sellers and buyers to believe that they can ONLY use Flippa Escrow and/or Paypal now.

I just hope I get my domain back or money from this transaction soon !

 

[rafaelo0]

@voiceofreason i asked if this happens just to new members because just last week i made a sale on flippa and i could receive the payment without that "take a foto of you holding your id" crap, i did lot's of deals in flippa and never had that problem but i don't want to risk listing new auction and in the end flippa ask's that stupid question and keep the money has "hostage" until i take the foto.

I completely agree with you this is a major security risk and simply stupid i like the flippa marketplace and closed my eyes for some bugs and problems with it's marketplace that happen to me in the past but if they ask me to take that picture i'm sorry flippa but goodbye i'm moving to another marketplace.

Maybe @FlippaDomains can shed some light on this subject.

 

[thekiller]

Stay away from Flippa. They'll threaten you eventually if you cannot provide ID or if they think ID is fake.

I had horrible experience with them, they didn't accepted my ID and asked for a verified document from a law firm which will cost me $150.

 

[voiceofreason]

@voiceofreason i asked if this happens just to new members because just last week i made a sale on flippa and i could receive the payment without that "take a foto of you holding your id" crap, i did lot's of deals in flippa and never had that problem but i don't want to risk listing new auction and in the end flippa ask's that stupid question and keep the money has "hostage" until i take the foto.

I completely agree with you this is a major security risk and simply stupid i like the flippa marketplace and closed my eyes for some bugs and problems with it's marketplace that happen to me in the past but if they ask me to take that picture i'm sorry flippa but goodbye i'm moving to another marketplace.

Maybe @FlippaDomains can shed some light on this subject.

I don't have many issues with Flippa.

I am just shocked that they're limiting visible payment options.
More options equals more sales equals more success fees for them.
And since the oh so unsafe for Sellers option of paypal is still listed, I do not want anyone from Flippa to say they removed Escrow.com for safety concerns.

Oh look how awful escrow.com is. {insert heavy sarcasm here }

Escrow.com wins the BBB Torch Award for Ethics
Escrow.com, the leading global provider of secure online payments with over US$3 billion in payments secured, was awarded the Torch Award for Ethics by the Better Business Bureau (BBB).

 

[makan nasi]

wow i'm shocked with many negative experiences with @FlippaDomains Escrow here. I had a flippa transaction for about $20K+ today. any advice? I am not sending my assets yet. I don't wanna lose my website and got nothing. I'm afraid that buyer is not cooperative.