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Epik announces Escrow service

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hmmm... I think fees are alright no?
I tought sedo charges full price 15% 20% for escrow.. like for an auction sale with them no?
I think what @Jurgen Wolf mean is Sedo External Transfer service which only 3% of fees. 10%-15% if we use their marketplace platform.
 
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Yes, 3% or min. $60 for Sedo's escrow only.
 
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ok ty for info on sedo
i read some bad things about them
but the fee is good
people say they are not true escrow etc.
plus I pretty much dislike everything else about sedo (like their min $60 sale fee)
so I think I personally prefer to pay 2% more for epik!
 
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Regarding Sedo's wire fee - I waste no more than $20 when transferring funds from their German bank to my Ukrainian bank...
 
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Sedo's escrow is the most TRUE escrow for many years...
They have accounts with all popular registrars... and the domain can be easily pushed into their escrow-account and that's all.

Escrow.com for the same comfort charges an additional fee (so-called "concierge").
 
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Sedo's escrow is the most TRUE escrow for many years...
They have accounts with all popular registrars... and the domain can be easily pushed into their escrow-account and that's all.

Escrow.com for the same comfort charges an additional fee (so-called "concierge").

ah ok
I see. I heard somehwere one of escrows is not a true escorw.. or maybe even several services are not true escrows.. I thought sedo was one of them. but thnaks for info.
maybe they meant moniker.. or flippa.. or some other.

either way.. I'd have used escrow.com cause its cheapest I think and most popular around... sadly, they don't pay out in paypal. which I find ridiculous for the most popular escrow around.

so unfortunately I will not use them.

I opened epik account couple days ago.. so I'l give them a try for a pending transaction I have with buyer.. and he wanted to pay with credit card using paypal (in fact, he wants to use two visa gift cards with some balance on each to finance this) so I do not want to take chargeback risk. so I'll use epik escrow for it.

I am okay with paypal direct as long as buyer can prove he pays using paypal balance only. (screenshots and calling paypal to verify payment)... then no chance of chargeback.

I'll keep posted how it goes with my first epik deal.
 
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I just withdrew $1,825 from my Epik Masterbucks account yesterday. I received $1,733.75 into my Paypal account. Notice that the difference was just 5%, not 5% plus 3% Paypal fee. So the real cost of receiving those funds was really only the difference between 5% and the 3% Paypal would have charged me if a buyer had paid me by Paypal. So the net cost to me was really only 2% more than a typical Paypal transaction.

Do you guys know anywhere else that handles your domain sales and provides secure escrow service and takes on the risk of the transaction where you end up getting 98% of what you would have gotten from a direct unprotected Paypal payment from the buyer? I don't.

Also, I have a separate login for my Masterbucks account that keeps an easily viewed record of all my domain sales and withdrawals I've ever done through Epik .

I left half my domain sales proceeds in my Masterbucks account because I have most of my entire domain portfolio at Epik and I can renew my domains at only $8.10 that includes the ICANN fee. That way I can use 100% of those sales proceeds because there is no fee at all from my sales proceeds when I use the money to register, renew or transfer domains into my Epik account. In fact, my Masterbucks balance shows up in my shopping cart as an available form of payment, just like Paypal does. It could not possibly be any easier or more cost effective than paying absolutely nothing to sell my domains with secure escrow provided and have instant access to my funds.
 
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I just withdrew $1,825 from my Epik Masterbucks account yesterday. I received $1,733.75 into my Paypal account. Notice that the difference was just 5%, not 5% plus 3% Paypal fee. So the real cost of receiving those funds was really only the difference between 5% and the 3% Paypal would have charged me if a buyer had paid me by Paypal. So the net cost to me was really only 2% more than a typical Paypal transaction.

Do you guys know anywhere else that handles your domain sales and provides secure escrow service and takes on the risk of the transaction where you end up getting 98% of what you would have gotten from a direct unprotected Paypal payment from the buyer? I don't.

Also, I have a separate login for my Masterbucks account that keeps an easily viewed record of all my domain sales and withdrawals I've ever done through Epik .

I left half my domain sales proceeds in my Masterbucks account because I have most of my entire domain portfolio at Epik and I can renew my domains at only $8.10 that includes the ICANN fee. That way I can use 100% of those sales proceeds because there is no fee at all from my sales proceeds when I use the money to register, renew or transfer domains into my Epik account. In fact, my Masterbucks balance shows up in my shopping cart as an available form of payment, just like Paypal does. It could not possibly be any easier or more cost effective than paying absolutely nothing to sell my domains with secure escrow provided and have instant access to my funds.


thats a real nice review.
thanks for taking time
it makes me feel comfortable before starting my transaction now.

and in fact, what is to you a 2% difference, will for me become a 1% difference only because when I Receive a USD$ domain payment directly into paypal from someone from usa.. it is international and therefore charged 3.9%.. I am in canada you see.

so for my deal with this buyer, I'd be taken away by paypal 4%!
and now it'll be 5%

so this is really a very small difference. sounds like Epik may just be the escrow service I have been looking for! shame on escrow.com for not taking time to setup paypal payouts (again I am in canada).

just a quick question.. so if my domain is now at non epik registgrar.. I presume you recommend I transfer it to epik before escrow yes? this saves me 1.5% extra fee.. and I assume makes the whole process way more smooth.. as its all jjust epik controling and pushing domains within their own system

tnx for reviewing your experience.
 
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So if the domain is with other registrar - then overall commission for me will be 1.5% + 5% + $40, I understand correctly?
In this case escrow.com and Sedo's escrow are significantly cheaper.

No, not correct.

If the buyer funds via bank deposit, and proceeds are paid out via wire transfer, the entire cost is 1.5% + $40. The 1.5% is a lower escrow rate for transaction where the buyer is funding via bank transfer. This is the lowest escrow rate we offer, and should be about the most competitive around for a secure escrow.
 
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No, not correct.

If the buyer funds via bank deposit, and proceeds are paid out via wire transfer, the entire cost is 1.5% + $40. The 1.5% is a lower escrow rate for transaction where the buyer is funding via bank transfer. This is the lowest escrow rate we offer, and should be about the most competitive around for a secure escrow.

I am sure the beauty of your system to most will be that whole "buyer funds with creditcard/paypal" then money goes into masterbucks.. and then a 5% fee to withdrawl or just leave it there for use on epik... versus the complexities and delays of wiretransfers and/or checks. at least that is not for me.

but I do agree that 1.5% escrow does not get much better than it!

thanks for info again Rob.
 
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thats a real nice review.
thanks for taking time
it makes me feel comfortable before starting my transaction now.

and in fact, what is to you a 2% difference, will for me become a 1% difference only because when I Receive a USD$ domain payment directly into paypal from someone from usa.. it is international and therefore charged 3.9%.. I am in canada you see.

so for my deal with this buyer, I'd be taken away by paypal 4%!
and now it'll be 5%

so this is really a very small difference. sounds like Epik may just be the escrow service I have been looking for! shame on escrow.com for not taking time to setup paypal payouts (again I am in canada).

just a quick question.. so if my domain is now at non epik registgrar.. I presume you recommend I transfer it to epik before escrow yes? this saves me 1.5% extra fee.. and I assume makes the whole process way more smooth.. as its all jjust epik controling and pushing domains within their own system

tnx for reviewing your experience.
Yes Alcy, especially if your current registrar allows expedited transfers out, so you and the buyer would have no delay in your transaction.
 
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You can request Epik $8.10 .com transfer/renewal/registration pricing.

https://www.namepros.com/threads/8-...transfers-renewals.982029/page-2#post-5832751

@Adam27 - that is correct. Domainers can request an at-cost account. Since it is truly cost, we prefer accounts to be funded via bank deposit, but that is more of a courtesy and not enforced. Just be aware that it is truly cost: registry + ICANN fee. Accounting for payment processing, these at-cost accounts actually generate a transactional loss for Epik despite being full-service and all-inclusive. The logic for doing this is that our profits come from selling to end-users. When a domainer sells to an end-user, we gain a profitable customer. So, we can afford to service domainers as inventory partners. Unconventional, but it works out. it is essentially a market-development expense. We rather pass some savings to domainers than buy a Super Bowl Ad.

Since we are getting a lot of requests for at-cost Epik accounts, here is a URL anyone can use to sign up for an at-cost Epik account:

http://www.epik.com/?affid=fi6gu9da4

Thanks in advance for sharing this link with (industry-savvy) domainers, and not (helpless) retail customers. Retail margins fund all the innovation and customer service that I know folks do appreciate. The domainer community gets the free ride and that is fine. With parking revenues in the tank, we know it is tough and we are doing what we can to help domainers get their inventory sold and leased to end-users as a primary way to generate ROI from portfolios.
 
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ah ok
I see. I heard somehwere one of escrows is not a true escorw.. or maybe even several services are not true escrows.. I thought sedo was one of them. but thnaks for info.
maybe they meant moniker.. or flippa.. or some other.

either way.. I'd have used escrow.com cause its cheapest I think and most popular around... sadly, they don't pay out in paypal. which I find ridiculous for the most popular escrow around.

so unfortunately I will not use escrow.com.

I opened epik account couple days ago.. so I'l give them a try for a pending transaction I have with buyer.. and he wanted to pay with credit card using paypal (in fact, he wants to use two visa gift cards with some balance on each to finance this) so I do not want to take chargeback risk. so I'll use epik escrow for it.

I am okay with paypal direct as long as buyer can prove he pays using paypal balance only. (screenshots and calling paypal to verify payment)... then no chance of chargeback.

I'll keep posted how it goes with my first epik deal.

Two more things here:

1. In case not aware and that is that you can also pay with Bitcoin and be paid out with Bitcoin. We recently added native support for BTC transactions.

2. Sales proceeds that are kept on Epik are indeed 100% commission-free and tax-free. For guys who sell domains and have domain renewal/transfer expenses, there is no better deal than Epik.

Specific to the escrow topic, I am quite baffled that the domain industry does not have stronger escrow options. Epik will fill the void.

We also provide 1 year interest-free domain loans in the form of Epik account credit for folks that need a little help bridging cashflow and are at risk of losing domains they prefer to keep.
 
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I just withdrew $1,825 from my Epik Masterbucks account yesterday. I received $1,733.75 into my Paypal account. Notice that the difference was just 5%, not 5% plus 3% Paypal fee. So the real cost of receiving those funds was really only the difference between 5% and the 3% Paypal would have charged me if a buyer had paid me by Paypal. So the net cost to me was really only 2% more than a typical Paypal transaction.

Do you guys know anywhere else that handles your domain sales and provides secure escrow service and takes on the risk of the transaction where you end up getting 98% of what you would have gotten from a direct unprotected Paypal payment from the buyer? I don't.

Also, I have a separate login for my Masterbucks account that keeps an easily viewed record of all my domain sales and withdrawals I've ever done through Epik .

I left half my domain sales proceeds in my Masterbucks account because I have most of my entire domain portfolio at Epik and I can renew my domains at only $8.10 that includes the ICANN fee. That way I can use 100% of those sales proceeds because there is no fee at all from my sales proceeds when I use the money to register, renew or transfer domains into my Epik account. In fact, my Masterbucks balance shows up in my shopping cart as an available form of payment, just like Paypal does. It could not possibly be any easier or more cost effective than paying absolutely nothing to sell my domains with secure escrow provided and have instant access to my funds.

Thank you @korganian. Epik pricing for domainers is indeed a deal. Epik looks forward to joining the list of Global Top 10 registrars. We appreciate the enthusiastic endorsement of folks who are having success with Epik. Much obliged.
 
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Two more things here:

1. In case not aware and that is that you can also pay with Bitcoin and be paid out with Bitcoin. We recently added native support for BTC transactions.

2. Sales proceeds that are kept on Epik are indeed 100% commission-free and tax-free. For guys who sell domains and have domain renewal/transfer expenses, there is no better deal than Epik.

Specific to the escrow topic, I am quite baffled that the domain industry does not have stronger escrow options. Epik will fill the void.

We also provide 1 year interest-free domain loans in the form of Epik account credit for folks that need a little help bridging cashflow and are at risk of losing domains they prefer to keep.

yep... looks like you've definitely filled in some voids.. with innovative payout options, and competitive fees all over. I'll be definitely doing some biz with you... and let's hope it'll go beyond just escrow in future!

well.. thanks for all this info. p.s. I sent you email request for the transfer discount. if you can check when u have moment that'd be great. sadly, I already signed up without using the link you provided above. thank you again.
 
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No, not correct.

If the buyer funds via bank deposit, and proceeds are paid out via wire transfer, the entire cost is 1.5% + $40. The 1.5% is a lower escrow rate for transaction where the buyer is funding via bank transfer. This is the lowest escrow rate we offer, and should be about the most competitive around for a secure escrow.
OK, thank you for this explanation!

2nd quest: if the buyer pays using PayPal or CC and payout to me is via wire - 5% will be added in this case?
 
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OK, thank you for this explanation!

2nd quest: if the buyer pays using PayPal or CC and payout to me is via wire - 5% will be added in this case?

@Jurgen Wolf - If the buyer pays using PayPal or Credit card, then 100% of the proceeds are still deposited to your account without commission. If the proceeds are redeemed, there is a 5% commission. You can arrange with your Buyer who pays the commission.

And with all these questions, we'll add a Price calculator which also will streamline the process for starting a new escrow transaction. We'll get it online asap. In the meantime, the easy solution is to keep domains at Epik as the marketplace natively integrated and proceeds are then used tax-free and commission-free.
 
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