If you are not using Epik.com for escrow, you are wasting time and money!

[Rob Monster]

Special Program for NamePros members only: Process your escrow transaction via Epik.com using bank transfer or major crypto, with a domain name registered at Epik.com and we'll waive the escrow fee completely! No escrow fee. No cashout fee. No kidding.

NamePros members are switching to Epik.com for Domain Name Escrow. Here's why:

- Lowest Fees: NamePros members pay no minimum fees. For domains registered at Epik.com, escrow is FREE when your buyer pays via bank transfer or major crypto. Otherwise, escrow is as low as 1.5%!

- Fast closing: Escrow transactions with domains registered at Epik, paid with major crypto or bank deposit can typically be closed within hours. We are open 24 hours a day, 7 days a week.

- Secure Transactions: Epik.com is the only full-service escrow agent that is also a full-service accredited registrar. Transfer in and out within minutes. If a transaction is cancelled, your domain is not in limbo-land!

- Flexible payment solutions: Pay or get paid via wire transfer, ACH, major crypto, credit card, PayPal, Transferwise or Western Union. We support all major currencies, domain swaps and scheduled payments.

There has never been a better time to move your domains to Epik.com and to choose our integrated solutions for domain marketplace and escrow services.

To get started on your escrow transaction, simply go here:

https://www.epik.com/services/escrow/

To discuss your portfolio or escrow transaction, contact us at [email protected], visit us Epik.com or phone us at +1.425-366-8810 or US toll-free at +1.888-894-9026.

This is a sponsored post.​

 

[Internet.Domains]

Compassion in action:

Love it!

Compassion is the WOW factor. We need more of it in today's world, not less.

Thank you for keeping "compassion" close to the heart!

 

[CJ6]

Sure thing, first understand the expiry process:

https://www.epik.com/support/faq/expired-registration-recovery-policy/

As discussed privately, our default grace period for .COM is 15 days.

Some customers have longer grace periods. The domain you asked about is owned by a very large Epik customer who frankly abuses our grace period a bit more than we would like. He has an extended grace period of 35 days.

On day 36, we send our .COM expiry stream to Snapnames. Before sending to Snapnames, in some cases we'll warehouse a name for up to a year just in case we think a customer is dropping a domain by accident.

On or around day 43 we do finally send domains to redemption. From then we have 30 days of redemption during which we can recover a domain for a redemption fee. We do sometimes have folks buy domains from us out of redemption.

Just for calibration, this particular domain that you backordered is probably worth $100,000. The owner makes liberal use of our grace period but is no idiot. As such, I am not entirely shocked that the former registrant did finally renew it.

Backorders are awarded on a first come first serve basis. We are working on a non-exclusive post-pay backorder service for reg-fee. This should go live in September which we think domain investors will really like.

And if you cancel a backorder, you get a full refund.

What part of this process does a domain go to daily diamonds? The very end?

 

[Rob Monster]

What part of this process does a domain go to daily diamonds? The very end?

Great question -- it is on Day 42 -- the final 24 hours. The last hour the price drops to $9. People pick up very nice names there every day:

https://marketplace.epik.com/daily-diamonds

 

[oldtimer]

@Rob Monster , No one can deny that you are going out of your way to be helpful to all domainers.

I am glad to know that Epik will extend the grace period if we ask for it, but in all fairness to people who want to buy exclusive back orders such as Kieth perhaps this should be indicated in the TOS so that people will be aware of this fact ahead of time, something like:

‘even though the default grace period for renewing domains is 15 days from the expiration date , but the grace period can be extended to its maximum time allowed upon request by the original domain owner as Epik strives to give its customers every chance to be able to keep their valuable domains in case they are facing some unfortunate circumstance and need more time to renew their domains.’

 

[Rob Monster]

@Rob Monster , No one can deny that you are going out of your way to be helpful to all domainers.

I am glad to know that Epik will extend the grace period if we ask for it, but in all fairness to people who want to buy exclusive back orders such as Kieth perhaps this should be indicated in the TOS so that people will be aware of this fact ahead of time, something like:

‘even though the default grace period for renewing domains is 15 days from the expiration date , but the grace period can be extended to its maximum time allowed upon request by the original domain owner as Epik strives to give its customers every chance to be able to keep their valuable domains in case they are facing some unfortunate circumstance and need more time to renew their domains.’

Thanks OT.

In the email confirmation notice for a backorder, we actually tell you your backorder priority and also the earliest possible drop date based on the current expiration date, plus the grace period. I will have our engineers check to make sure that if the registrant does have an extended grace period that the projected drop date reflects this.

Best to not make plans around the off-chance of a $100K domain being abandoned. This would be like someone buying a house because they think they are going to win the lottery this week. Many registrants do wait until the last minute to renew precisely because they are managing cash.

 

[Keith]

Thanks OT.

In the email confirmation notice for a backorder, we actually tell you your backorder priority and also the earliest possible drop date based on the current expiration date, plus the grace period. I will have our engineers check to make sure that if the registrant does have an extended grace period that the projected drop date reflects this.

Best to not make plans around the off-chance of a $100K domain being abandoned. This would be like someone buying a house because they think they are going to win the lottery this week. Many registrants do wait until the last minute to renew precisely because they are managing cash.

It doesn’t matter if it’s a domain worth $1 or $1 million. You either have a BO policy or you don’t.

You should also educate your staff as to the “special” circumstances regarding 1% of customers. They are unaware or at least were when we spoke.

 

[kam]

This is why you should always use a licensed, audited escrow service.
https://finance.yahoo.com/news/justice-department-slaps-escrow-firm-134617683.html

Jackson,

I expected the service provided by escrow.com is top notch since it is licensed by the California Department of Business Oversight.

I have a transaction that closed by 25 July 2019 and Escrow.com sent me the closing statement on the same day. It's 21 days now but the payment ( $1,663 USD) still have not hit my bank account.

Regards,
Kam

 

[kam]

Yes, special rules aren’t for most, and thus most shouldn’t keep domains at epik.

If or when your platform treats every registration the same, let us know, it may result in more business.

With known domainers being part owner in your company, it’s easy to see how certain dealings get “special” treatment.

Keith,

Sometimes you can't treat all the people the same because they will abuse it.
I think Epik is doing great, their CEO have a open-mind to accept suggestions and feedback.

 

[TCK]

As for supplements, here is pretty much all I take:

https://www.naturologie.com/store/products/brilliant-brain-120-capsules

That is my wife's online store but their clinic is this one:

https://www.naturomedica.com/

I am surprised that your wife's websites and hosting are provided by companies other than Epik.

- Interest free domain loans for up to 1 year

Is there a link that explains Epik's interest free domain loans? That sounds interesting. Does the interest start after 1 year or is that the length of the loan?

 

[Rob Monster]

I am surprised that your wife's websites and hosting are provided by companies other than Epik.

The hosting is done by their web developer. They built a proprietary CMS and service what they sell. The site has been around for a while. We are the registrar.

Is there a link that explains Epik's interest free domain loans? That sounds interesting. Does the interest start after 1 year or is that the length of the loan?

Login at Epik.com and go here:

https://registrar.epik.com/account/domain-loans/

 

[TCK]

The hosting is done by their web developer. They built a proprietary CMS and service what they sell. The site has been around for a while. We are the registrar.

Is this because their web developer offers services Epik doesn't? Like e-commerce? Or were the sites developed long before Epik offered similar services?

Login at Epik.com and go here:

https://registrar.epik.com/account/domain-loans/

Just logged in, but the page offers very limited details. Missing info such as maximum length of loan, monthly payment calculator, maximum loan amount, etc.

 

[Rob Monster]

Is this because their web developer offers services Epik doesn't? Like e-commerce? Or were the sites developed long before Epik offered similar services?

My wife started her clinic (Naturomedica.com) and online dispensary (Naturologie.com) more than 10 years ago -- before Epik.

Just logged in, but the page offers very limited details. Missing info such as maximum length of loan, monthly payment calculator, maximum loan amount, etc.

It is a consultative discussion with each case. However, people here might be surprised by how many folks have domain loans from Epik.

We just helped one customer make a very large domain sale. Were it not for Epik, he would have lost his entire portfolio last year. He just sold 1 domain for $85K.

There are a few success stories like that. I won't name names but these folks appreciate Epik. It was a win-win because we got their portfolio on Epik. They are loyal and selling.

The official maximum is 1 year. We have yet to foreclose on anyone. However after a year, we get more hands-on with getting the domains sold.

We also get involved in helping domain addicts to pare back their portfolios. Sometimes people are cash poor because they are emotionally attached to bad domains....

 

[rh2000]

We just helped one customer make a very large domain sale.

This was nice of you. You found a buyer for the domain and brokered it? You broker domains also?

 

[Rob Monster]

This was nice of you. You found a buyer for the domain and brokered it? You broker domains also?

We helped him close it --- he sourced the lead. One of the very nice features of Epik is that we help registrants close deals. If they source the confirmed buyer, we work to get it closed very quickly before the buyer's circumstance changes. I believe this is the absolute key to preventing failed escrow transactions -- you must close quickly.

 

[Jurgen Wolf]

Also western union, and crypto are
added payment options you don’t see everyday. Helps with many new sectors of the world who are now blocked from traditional payments. I was in escrow with a party from Ukraine, the transaction was cancelled, and that parties account was closed as I guess new sanctions block their payment options which is not anybody’s fault who is involved in the transaction, but these people are basically being forced to use crypto now, as they have few options.

No any sanctions against Ukraine, except Crimea region which was occupied by Russia in 2014.
All payment options work here.

The only one limitation - Ukrainian PayPal accounts work in Send-mode only, it is impossible to receive PayPal.
This PayPal policy still without changes for many years... and not only regarding Ukraine, many other countries are limited as well.

 

[Rob Monster]

No any sanctions against Ukraine, except Crimea region which was occupied by Russia in 2014.
All payment options work here.

The only one limitation - Ukrainian PayPal accounts work in Send-mode only, it is impossible to receive PayPal.
This PayPal policy still without changes for many years... and not only regarding Ukraine, many other countries are limited as well.

Amex Fx and Transferwise are helpful here. I am far less impressed with PayPal or major old-school banks like Chase or Wells, who we also use but have archaic processes for doing real-time Fx.

 

[Jurgen Wolf]

So what is your current wire transfer fee (SWIFT) for payout to my Ukrainian bank?

 

[Rob Monster]

So what is your current wire transfer fee (SWIFT) for payout to my Ukrainian bank?

From Amex Fx:

 

[Jurgen Wolf]

Thanks.

I can receive USD/EUR as well...
How about fees for USD/EUR wires?

 

[Rob Monster]

Thanks.

I can receive USD/EUR as well...
How about fees for USD/EUR wires?

Covered earlier in this thread:

https://www.namepros.com/threads/if...g-time-and-money.1119508/page-10#post-7346151

AmexFx is undercutting Transferwise.

 

[Jurgen Wolf]

One more question regarding the external domain escrow...
For me (NamePros Seller) escrow fee will be 1.5% and the Buyer will be charged for the domain transfer to Epik...
Then I can withdraw my Epik funds to my bank without fees (according to your screenshots).
Right?

 

[Rob Monster]

One more question regarding the external domain escrow...
For me (NamePros Seller) escrow fee will be 1.5% and the Buyer will be charged for the domain transfer to Epik...
Then I can withdraw my Epik funds to my bank without fees (according to your screenshots).
Right?

Actually, we need the domain to come to Epik first. This is part of our transaction assurance and also how we manage regulatory compliance. We do 2 transactions: (1) a buy transaction, and (2) a sell transaction.

 

[Jurgen Wolf]

So if I transfer this external domain to Epik myself and then initiate the escrow process...
+ Buyer pays to Epik via wire...
= NO any fees at all (including payout to my bank), FREE escrow - in other words, right?

 

[Rob Monster]

Correct.

I suggest you read the whole thread and catch up a bit.

So, here is the deal for NamePros members to have commission-free transaction clearing at Epik:

- Buyer and Seller both have Epik accounts
- Domain is at Epik
- Buyer funds purchase with wire, ACH or BTC

If there is a fee to transfer out based on the seller's preferred disbursement method, we pass that along.

 

[Jurgen Wolf]

From Amex Fx:

Show attachment 126503

Just noticed their conversion rate 24.08 to my local currency UAH, it is significantly lower than official rate of National Bank of Ukraine... as of today it is 25.25
So this is how Amex Fx gets their profit...

It is definitely better to send USD wires.