Undeveloped.com Experience

Undeveloped said:

Hi Loredan,

I don't see VAT as additional charges since it's not going to us but the tax agency. We only charge VAT on top of our commission if both the seller as Undeveloped have to by law. And that happens only in some specific cases for European sellers.

Our system is designed to charge the correct VAT based on the information you supply us and the information that we have from the buyer.

Here are some of the VAT rule logics:

1: If you're a non-business seller from EU we have to charge VAT
2: If you're a business seller from EU and supply a valid VAT number we don't charge VAT
3: If you're a non-business or business seller outside of EU you never pay VAT

Again, only if we by law have to collect VAT as in example #1 we do.

Thanks for helping me clarify this,

Reza

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So I assume the vat element would not apply to bitcoin or any other crypto ?

noonoo1 said:

So I assume the vat element would not apply to bitcoin or any other crypto ?

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Hi Noonoo,

The VAT element is now determined by the seller. We've built extensive VAT preference settings so you the seller can decide exactly how VAT is treated:



Kind regards,
Reza

Embrand said:

It sounds great. I especially like the rental aspect and being able to sell or buy parts of a domain portfolio.

But I have to admit I don't understand some of the technical stuff. When we talk instant transfers, is that if Undeveloped becomes a registrar or already with today's registrars?

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It depends on some variables but in essence, instant transfers will work already with Today's registrars that don't build in unnecessary and draconic lock-ins.

Instant transfers are also TLD dependant, for some TLD's like .co.uk we won't offer instant transfers from day one.

@Undeveloped

Profile and domain names are sent to you as PM

I had informed several times to support team that my payout should be in EUR currency and not USD as bank I have added is of Payoneer and they accept only EUR payment, but never received any confirmation or acknowledgement for this.

Please look into this matter urgently.

Awaiting your reply,
Hooda

singhhooda said:

@Undeveloped

Profile and domain names are sent to you as PM

I had informed several times to support team that my payout should be in EUR currency and not USD as bank I have added is of Payoneer and they accept only EUR payment, but never received any confirmation or acknowledgement for this.

Please look into this matter urgently.

Awaiting your reply,
Hooda

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Have you set your domain pricing to be in Euro?

Edit: Incorrectly typed How instead of have above

anantj said:

How you set your domain pricing to be in Euro?

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Go to account settings->portfolio->currency

You can set the currency option there.

singhhooda said:

Go to account settings->portfolio->currency

You can set the currency option there.

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lol, sorry. I meant to type have you (hence the weird grammar of the original comment).

anantj said:

lol, sorry. I meant to type have you (hence the weird grammar of the original comment).

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I had set it to USD at Undeveloped.

Undeveloped doesn't allow USD payout if we want to get paid via Payoneer bank.

I want buyer to pay in USD and payout in EUR.

I had asked this question in the past and received a response that before Undeveloped.com release payment, I can request them to release it as EUR.

I have informed them for my recent payment but they haven't confirmed or acknowledged me and due to that I am worried that my payment will be lost.

@BrandVenue : A seller who got paid in EUR inspite of buyer paying in USD mentioned me in the past as below :

ACH is available for US companies only. Undeveloped is based on the Netherlands so they send payment using SEPA.

All my values are in USD, just when you have a sale ask Simon to send in Euro instead of USD

I followed the same but Undeveloped has not yet given me confirmation that they will send payment in EUR. If they ignored my request I will not receive funds as bank will reject USD payout.

singhhooda said:

I had set it to USD at Undeveloped.

Undeveloped doesn't allow USD payout if we want to get paid via Payoneer bank.

I want buyer to pay in USD and payout in EUR.

I had asked this question in the past and received a response that before Undeveloped.com release payment, I can request them to release it as EUR.

I have informed them for my recent payment but they haven't confirmed or acknowledged me and due to that I am worried that my payment will be lost.

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Hi Sing,

I checked with Simon and he say's he's already aware of your request. The payout will be performed today in EUR since the domain transfer was completed late last night.

So don't worry, everything is going as you wish.

Kind regards,
Reza

Undeveloped said:

Hi Sing,

I checked with Simon and he say's he's already aware of your request. The payout will be performed today in EUR since the domain transfer was completed late last night.

So don't worry, everything is going as you wish.

Kind regards,
Reza

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Thanks for your reply and it is good to know about that.

Just curious to know why I didn't received any acknowledgement when I requested there.

If there is no acknowledgement or confirmation then seller like me will definitely be wondering what will happen.

Would request you to please inform your team to give acknowledgement for any requests in future so atleast one can get an idea that things are running fine or not.

Hello Everyone

Had anyone used wire transfer at Undeveloped.com?

I mean to local bank and not using Paypal or Payoneer as payout...

Flippa charges exclusive $25 for wire transfer while Namejet doesn't.

So please share your experience especially if anyone from India used it...

I need to know what was the amount and what was the deduction in name of wire transfer..

For an example : Payout after 9% commission from Undeveloped was $200 and after wire transfer received XXX amount to my local bank with approximately YY as wire transfer fee.

I would appreciate if any one can share their experience.

Hi @singhhooda , I've recieved wire transfers from Undeveloped, sorry not in India but EU country. Their bank took 25$ and my bank took 9$, 4-6 days waiting. Just checked last 2k+ transaction.
Hope that helps.

@talking.domains It's different than from what Undeveloped.com told me.

First of all all, how you came to know that Undeveloped.com bank took 25$? Is it fixed or it depends on % of the transaction?

Undeveloped said me that they would divide fee 50% but you have mentioned something else.

Below is what they said :

No, we don't charge any additional payout fees. So we'll send your payout via bankwire with the "shared" option enabled so we pay 50% of the processing fees even.

So if your bank charges $10 for accepting an international wire, we pay $5 and you pay $5. We always take care of the payment processing fees on our end as well.

Can anyone else share their experience?

I told you just what I have in my bank report overall when money came in my account.
Foreign bank fees: 25$, and my bank have fixed fee in local currency which is around 9$.

talking.domains said:

I told you just what I have in my bank report overall when money came in my account.
Foreign bank fees: 25$, and my bank have fixed fee in local currency which is around 9$.

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Every bank has different fees. Both Undeveloped and our bank don't have any control over the fees that the receiving bank charges.

This has also something to do with intermediary banks having their own fee structures and almost all bank wires required an in-between bank to process payments.

What I can confirm is that Undeveloped charges $0 fee for sending wires. We always even specify explicitly that Undeveloped takes 50% of the fees on her account when sending a wire.

singhhooda said:

Thanks for your reply and it is good to know about that.

Just curious to know why I didn't received any acknowledgement when I requested there.

If there is no acknowledgement or confirmation then seller like me will definitely be wondering what will happen.

Would request you to please inform your team to give acknowledgement for any requests in future so atleast one can get an idea that things are running fine or not.

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Hi Singh,

To be honest you're being extremely demanding. We have other sellers and transactions as well and can't get back to you within 5 minutes every time you send us a request.

Especially in your case where you request 3 payouts to 3 different payout sources, this isn't typical and can require more time to process.

I guess and expect your future payouts become smoother when you're more familiarized with our service and when we can just use the payout source you identify in your account so we can enable automatic payouts as well, which are faster.

As for the banking fees, please check with Payoneer's EUR account which fees they charge for accepting EU wires.

Kind regards,
Reza

Just noticed that Undeveloped landing pages now display ratings from Trustpilot.

I am not sure about other countries, but in my country Trustpilot reviews are very well-known and widely used before buying goods. So this is a great move, I think. As long as you get good reviews, of course

Embrand said:

Just noticed that Undeveloped landing pages now display ratings from Trustpilot.

I am not sure about other countries, but in my country Trustpilot reviews are very well-known and widely used before buying goods. So this is a great move, I think. As long as you get good reviews, of course

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Its a very good addition. Keep it up guys @Undeveloped

Website seems down. Anyone else having issues?

Edit: its back up!

@Undeveloped - can you please lay out exactly what happens when you use the "Add A Lead" feature? Do you send an email to the buyer?

Is it possible to use that feature without a phone number?

Thanks!

CrocodileDundee said:

@Undeveloped - can you please lay out exactly what happens when you use the "Add A Lead" feature? Do you send an email to the buyer?

Is it possible to use that feature without a phone number?

Thanks!

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Of course!

When to use this feature?

When you receive a lead outside of Undeveloped you can import that lead or when you have an agreement with a buyer and you'd like to manage the transaction/escrow via Undeveloped you can import a complete transaction at a set price.

What happens when you import a lead or transaction?

When you import a lead the buyer received a confirmation message to confirm his intent to negotiate with you via Undeveloped. Once the buyer confirms his/her consent and agrees to Undeveloped's terms of use you'll see the lead in your back-office. When a buyer doesn't confirm his/her intent you'll be able to find the unconfirmed lead back when you click on the icon "Unconfirmed leads".

You can indeed submit a lead without adding a verified phone number. Simply input 00000000 there if you don't have the phone number of the buyer.

If you do have the phone number, do submit it since your account manager will be able to reach that person easier when required.

A lot of gtlds being sold on their I noticed.

Undeveloped said:

Of course!

When to use this feature?

When you receive a lead outside of Undeveloped you can import that lead or when you have an agreement with a buyer and you'd like to manage the transaction/escrow via Undeveloped you can import a complete transaction at a set price.

What happens when you import a lead or transaction?

When you import a lead the buyer received a confirmation message to confirm his intent to negotiate with you via Undeveloped. Once the buyer confirms his/her consent and agrees to Undeveloped's terms of use you'll see the lead in your back-office. When a buyer doesn't confirm his/her intent you'll be able to find the unconfirmed lead back when you click on the icon "Unconfirmed leads".

You can indeed submit a lead without adding a verified phone number. Simply input 00000000 there if you don't have the phone number of the buyer.

If you do have the phone number, do submit it since your account manager will be able to reach that person easier when required.

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Thank you for the information, how promplty is an email sent to the buyer? Is it automatic? What is contained in the message sent to the buyer?

Currently I send my buyers to the landing page where they hit the Buy Now, it works very well but I am trying out this new method. I want to be 100% certain what happens so I can better inform my buyers!

Thank you

CrocodileDundee said:

Thank you for the information, how promplty is an email sent to the buyer? Is it automatic? What is contained in the message sent to the buyer?

Currently I send my buyers to the landing page where they hit the Buy Now, it works very well but I am trying out this new method. I want to be 100% certain what happens so I can better inform my buyers!

Thank you

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Hi CD,

The buyer will receive close to instantly a confirmation email. I'd advice to import yourself as lead as a test to see the exact content of the emails.

Take care,
Reza