services Escrow.com - a complete joke?

[B Klug]

I may lose a $2200 sale because Escrow.com has no apparent sense of professionalism or urgency.

Anyone else share an experience like this?

An offer came in which I accepted, but I noticed Escrow.com still had my old name on their account, and I have since changed my name everywhere (including at the bank) which I'm told must match for transfers to go through. My fault for not changing this before, but it's hard to remember every website and place that has your old name/info of course.

So mid last week, I write in, asking them to process the name change (the website will not let me change name once verified) and I send them my old name, old e-mail, new name, new e-mail, a certified COURT ORDER of the name change, and a high res scan of my new USA passport.

The next day someone replies asking for my e-mail. I'm upset because they wasted a day to ask for information that was included in my original support request. Whatever, I let it slide and answer their question.

Another day goes by and they reply asking for new name. What the heck is going on? This was clearly included in the COURT ORDER which very specifically spells this out.

Now several more days go by, and another person now gets back to me ... asking for "government issued ID or certificate showing that your name was changed". You have kidding me. Oh my god.

What a joke.

 

[topdom]

Not many people change their name while using escrow.com, so not many people will have a similar experience.

I used escrow in the past with no problem, but I find their business model risky, because the buyer can say "I didn't get the domain", or fail to say "I got the domain", and I don't know what would happen then.

 

[tiletalk]

they have to be careful that it is not a new scam in place also.

 

[B Klug]

they have to be careful that it is not a new scam in place also.

That's the first thing that came to mind, too, which is why I was initially super patient.

But do consider, my name change is trivial: same exact last name, and the first name is just a shorter version of my previous first name. Could not be more of a minor change.

Not many people change their name while using escrow.com, so not many people will have a similar experience.

Heh. First, I didn't mean this exact scenario but rather just general issues of them lacking urgency or professionalism. But yeah, secondly, what a "tell me you work in a male dominated industry without telling me you work in a male dominated industry" we have there lol

(Just a friendly tease, not really giving you grief. Have a good Sunday all.)

 

[karmaco]

Use them as a last resort. They took all the joy out of my first domain sales years back by dilly dallying, internal bank issues and delayed payment. What you have described is in line with what I experienced. I think they only white glove certain peoples accounts if you get my drift.

 

[Lox]

my name change is trivial

The Escrow services must verify the identity (or modification/change) of the account holder within a reasonable time-frame (7, 15, 30, up to 60 days). In almost every case, Enhanced Due Diligence procedures for ID verification include non-documentary methods [i.t.c. seller & buyer] (Department 1: comparing the old and new info, Department 2: understanding of customer activity/behavior/pattern, Geo-node/IP logins, Department 3: CRA, etc ... FATF Recommendations)

Regards

 

[johnn]

I think they are just doing their job - slowly...
Btw, Why didn't you create a new account with Escrow instead of going to these steps?

 

[B Klug]

The Escrow services must verify the identity

They are asking for already provided information over and over. Not sure if you read my original post in full or you are joking or what.

It would be one thing if the original response was "okay, we'll be in contact within 7 days" and I've just been waiting, no, we've been running around like chickens with our heads cut off.

It's disorganized and unprofessional.

 

[Lox]

They are asking for already provided information over and over. Not sure if you read my original post in full or you are joking or what.

It would be one thing if the original response was "okay, we'll be in contact within 7 days" and I've just been waiting, no, we've been running around like chickens with our heads cut off.

It's disorganized and unprofessional.

Lots of reasons why EDD is a challenging yet time-consuming process, but one of the big ones is that banks are panicky of giving KYC data to a third party eg Escrow service. And, no you'll not get any time-frame "within X days". You may receive a bunch verification request from E. Just cooperate / fulfill , ... without Why, When etc.

Regards