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Epik Escrow and Fee Comparison

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Rob Monster

Founder of EpikTop Member
Epik Founder
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I lose $42,000 on an escrow.com transaction as pdd.com, help please.
It is hard to believe that we are still talking about this case, but indeed $42K is life-changing money for many people. NetSol was once a mighty registrar. Those days are long-gone and I find it hard to believe that there are NamePros members who still use them, other than for promo domains where they probably hope to not get abused on the way out. However, there are some really old domains on NetSol. Some of us remember paying $70 per year for a .COM back when NetSol had the monopoly. Things changed.

As for this specific case, this is case where any competent escrow agent would have fully insulated the buyer from getting defrauded. There is actually a very major design flaw in how most escrow transactions are conducted in the domain name industry. The typical counterparties are:

Buyer
Seller
Escrow agent
Broker
Registrar


That is a total of up to 5 counterparties, each of why can be declared liable to each other in the course of a transaction. In most cases, there is no purchase and sale agreement, nor a posted Terms of Service governing the relationship with one or more counterparties. It is of course a recipe for chaos in the event that there is a perceived default by one of the counterparties. I have seen cases, including Gab.com, where there was also a Domain Lender with a partially paid off leaae in the mix of a transaction.

At Epik.com, we designed the "escrow" process around the registrar. There is essentially no counterparty risk assuming the buyer uses a bank transfer or major crypto to complete their purchase. For domains registered at Epik, we can even do these escrow transactions without fee. Why? Because there is no risk. The risk comes in when the domain is at another registrar, or where the buyer is using a credit card or PayPal where there is a chargeback risk. In this case there should also be a fee to underwrite that risk.

For anyone not aware, Escrow has become a material business for Epik. The buyer and seller are both contracting with Epik. The seller provides the disbursement instructions, which can be multi-party, e.g. broker, lender and registrant. And for the moment, Epik.com is still the only escrow agent -- which is legally defined as a neutral, trusted 3rd party -- to serve as trusted intermediary. Proceeds from sales can also be held at Epik and spent tax-free on like-for-like domain assets.

More here: https://www.epik.com/services/escrow/
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
You dont mention anything about seller redemption fees for monthly payouts.

Because there are none.

It seems you are looking for some witch, and thinking you might find one behind this rock or that rock. Well, long-time NamePros members will probably tell you that when it comes to Epik, you are wasting your time.

Welcome to the domain industry -- it seems you might be new.
 
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I registered over 200 domains back in 1996 with network solutions for $75 each per year. Where was Epik in 1996?
 
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I registered over 200 domains back in 1996 with network solutions for $75 each per year. Where was Epik in 1996?

Congratulations for being prescient. If you were able to hold those 1996 domains, there are some folks here who know you already! As for Epik, we were founded in 2009 and became a registrar in 2011. In August 2018, I made Epik my full-time focus and we have seen steep growth across multiple lines of business.
 
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You dont mention anything about seller redemption fees for monthly payouts.

Lol. Did you make an acc, just to bash Rob?

No answer he gives you is/will b good enoug for you
 
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You say you’re taking your business elsewhere, but never saw u were interested...most CEO, never gave half this transparency, or even time! It’s admirable.
Some ppl worth supporting, yet u keep coming after..

i wont be calling anyone... already won my business.
 
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I completed 3 domain escrow transactions through Epik 3 days ago. I was the buyer. The domains were not even registered at Epik. I just asked Epik to add the transfer costs ($7.49 each) to the purchase price. The transaction was swift and completely FREE for both me and the seller.

I am not aware of any other service that can even be compared to this. It's a thing of beauty in my eyes (y)
 
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1996? Where was AOL in 1996? Yahoo?

Those who content with their past accomplishments, will become the next Network Solutions...
 
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Posting details here will save countless calls to your business. Transparency is essential. Your answers are vague. For instance, you dont tell me that buyer funds go into my account as bingo bucks which will lose value when they are converted into hard cash.

So you join the forum and immediately go to an Epik thread and start criticizing? People without an agenda generally don’t attack/troll out the gate and introduce themselves to the community.
 
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You charge 9% fee when domain was sold from Epik's parking page/marketplace, am I right?
I don't understand why the escrow process is 'free' on the other hand (this is more personal work in this case while in case with parking it can be almost automatic).
 
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I have used epik escrow recently for low xxx$ and service was good and fast. Will use in future too.
 
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Does the Epik marketplace support listing domains that are not with Epik? If so, what's the commission?
 
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Does the Epik marketplace support listing domains that are not with Epik? If so, what's the commission?

We will typically bring the domain through Epik registrar as part of transaction assurance. Depending on the jurisdictions, we many not enforce that but it is case by case.

The rate depends on buyer's payment method.

You can start a transaction here to get a quote:

https://escrow.epik.com/

@Tony Blessed will get in touch.
 
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Rob, I was not asking about the escrow process. I am fine with bringing the domain into Epik after the buyer has clicked "Buy it now." My question is whether Epik allows listing domains on its marketplace if the domain is with another registrar.
 
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Rob, I was not asking about the escrow process. I am fine with bringing the domain into Epik after the buyer has clicked "Buy it now." My question is whether Epik allows listing domains on its marketplace if the domain is with another registrar.

Yes, of course. Very much so.

And you can also use our awesome SSL landers for free even for domains registered elsewhere.

Good tutorial here:

 
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@Tony Blessed
my question; what minimum price transaction possible ? (condition- domain not available epik and push only same registrar)
 
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Escrow transaction minimum: $500
Escrow fee ranges from 1.5% - 6.5% depending on the payment method.

Marketplace transaction minimum: No minimum
Marketplace commission: 9% of transaction amount

We accept listing/selling Non-Epik registered names. Domain push is processed for the buyer through Epik escrow accounts at other registrar (majorly tier 1 registrars) during the sale of the domain.

Feel free to ask any further questions.
 
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Hello Sir,

How do I delete a domain I bought today from your site. I don't want a refund but want to use the money and buy another domain in your registrar. Please how do I do it Sir? I want to do it asap!
 
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Hi,

There will be a charge for deleting a domain (0.50 cents)

Tony

Hello Sir,

How do I delete a domain I bought today from your site. I don't want a refund but want to use the money and buy another domain in your registrar. Please how do I do it Sir? I want to do it asap!
 
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A NamePros member could sell a domain name for $1 million and use Epik.com as their escrow agent and pay no fee. They have the option to disburse funds or re-invest their proceeds tax-free.

.

Hi @Rob Monster ,

Is this promotion still valid?

Some buyers don't want to expose their true identity to sellers. Can buyers stay nameless on Epik escrow (i see we need only the emails of buyer and seller to initiate the escrow)?

Does Epik issue masterbucks for escrow funds?
 
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Hi @Rob Monster ,

Is this promotion still valid?

Some buyers don't want to expose their true identity to sellers. Can buyers stay nameless on Epik escrow (i see we need only the emails of buyer and seller to initiate the escrow)?

Does Epik issue masterbucks for escrow funds?

Sure, we still do those deals for domains that are on Epik and where buyer funds via wire transfer.

The proceeds are disbursed to fully redeemable Masterbucks.com. It works like a champ. Your Epik login works on both sites -- it is single sign-on across nearly all Epik propertiies.

We can now also do large crypto transactions following recent acquisition of Amplify.io -- an Ireland domiciled crypto exchange.
 
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@Rob Monster Can buyer and seller see each other's details like real names etc when performing escrow transaction?
 
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Once again completed US$10.5k domain/site Escrow Transaction SWIFTY through Epik Escrow. Seller, buyer, and broker all three were able to see details of transaction; very transparent experience.
Very responsive customer support, lower on fee side, and super easy to use. Withdrawl in process. Thankyou Epik!
 
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