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AbdulBasit.com

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AbdulBasit.com
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Hello and Assalamo Alaikum,

It looks like Escrow.com is getting worse as the time goes by… After we all heard about Payoneer Escrow getting shut down so I started again Escrow.com which I had stopped due to their poor service.

I started couple of transactions at Escrow.com in a period of one week both for different domain and buyers. One of the transaction got completed on 30th August with last status “Inspection period ended, Buyer accepts merchandise.”

On 3rd September, I receive an email from their Payments department which says the following:

“Dear Seller, Unfortunately we do not support disbursement to accounts under First Century Bank, Payoneer accounts, or any other third party payments service. Please kindly select or add a new disbursement method. Please inform us when your disbursement information has been updated.”

This came as shocking to me. First, they should have at least informed all their clients that they no longer support disbursement to accounts under First Century Bank and/or Payoneer accounts. Secondly, even if they didn’t bother sending emails to every of their concerned client, they could’ve updated somewhere in the middle of transaction whenever they got aware of this new changes at their end. But their so-called great support team didn’t bother to inform and waited for the transaction to get completed.

I’m forced to complete my second transaction with them as the buyer just said yesterday that payment have been already made so I’m waiting for this to be completed as well. I just didn’t wanted to receive funds via wire that’s why I started Escrow.com to receive funds via Payoneer.

Instead of improving their service, they’re getting worse as the time is passing. Now I shall be looking for better alternatives who not only support payment via Payoneer but also other options like PayPal.

I’m sure there are plenty of domainers who likes to receive funds via Payoneer and are using Escrow.com so please make sure to either change your funds disbursement method or start using another better escrow service.

Now I’ve sent an email today for disbursing my funds via wire option which is the only one left for me to choose.

**NOTE**
In past, I've received good amount of funds in Payoneer account/card through Escrow.com several times.

It would be great to hear from fellow domainers which escrow service is very reliable, provides great customer support and offers several disbursement methods including at least Payoneer.
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
ask for btc or another crypo currency from your buyers if you're not located in US or EU. Globalism is ending.

Edit:
OR, apply e-residency: https://e-resident.gov.ee/
 
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I always ask... and from my experience - nobody wants to pay in BTC.
 
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Selling your domain in the Epik marketplace is a secure transaction.
Once your buyer pays, Epik transfers the domain instantly, and disburses seller's funds instantly.

For real escrow service, the fee is 1.5% of transaction amount, with a $75 minimum.
However, funds are disbursed as Epik MasterBucks, which can be used inside Epik for no fees, or cashed out for a %5 fee.
Essentially a 6.5% fee, but I believe their security and service are unmatched.
 
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Selling your domain in the Epik marketplace is a secure transaction.
Once your buyer pays, Epik transfers the domain instantly, and disburses seller's funds instantly.

For real escrow service, the fee is 1.5% of transaction amount, with a $75 minimum.
However, funds are disbursed as Epik MasterBucks, which can be used inside Epik for no fees, or cashed out for a %5 fee.
Essentially a 6.5% fee, but I believe their security and service are unmatched.
+ $50 wire fee (SWIFT).
 
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6.5% - only if payout to your PayPal.
 
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https://uniregistry.com/market-fees-rules
As I see, escrow is also offered by Schilling...

Transaction fees
  • Service Fee: 3% of the sale price up to $5000, plus 0.3% of the amount exceeding $5000
  • Premium Payment Fee: 3.88% of the sale price (default limit of $5000) for payment by credit card or PayPal
 
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If it is not prohibited by PK law - you may open a foreign bank account and get card from them as well...

Sedo uses Commerzbank... so you may lower your receiving costs to ~0 and also speedup the entire process - if your account will be in Commerzbank.

No local bank gives us card of any type for opening/having foreign currency account.
 
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I contacted Transpact if they disburse funds via Payoneer and below is their response:

"Sorry – we only receive and make payment directly to and from a bank account in your name.

Our fees for payment-out include the wire transfer fee to the recipient’s bank account, so this is not an added cost for you."

Which means they send via wire only. :xf.cool:
 
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Don't mention Payoneer...
Just ask if they can send via ACH to First Century Bank...
 
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Don't mention Payoneer...
Just ask if they can send via ACH to First Century Bank...

Yeah, we can send wire from company account to any company account in any part of the world. That's possible and is practiced on frequent basis.

Just wanted to have funds online itself so it doesn't need to come here at my local bank and then get wired for using it again. Time consuming, more expensive, etc.
 
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ACH service is provided by Payoneer...
So your Bank details look like you have your own account in First Century Bank...

Transpact didn't understand you.
That's why such answer from them.
Just don't mention Payoneer, speak strictly regarding ACH transfer to FCB...
 
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No local bank gives us card of any type for opening/having foreign currency account.
I'm talking about foreign banks... outside PK.
If it is not prohibited in your country - open your bank account abroad (for example, in any bank in Dubai) and also get card from this foreign bank.
And that's all.
 
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ACH service is provided by Payoneer...
So your Bank details look like you have your own account in First Century Bank...

Transpact didn't understand you.
That's why such answer from them.
Just don't mention Payoneer, speak strictly regarding ACH transfer to FCB...

Good point!
I'll talk to them your way and update here again.
 
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Maybe entropay
Is worth checking
 
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Update once again from Transpact escrow service:

"We make payment by wire transfer to bank accounts (including in the USA), and the fees are included within our pricing.
We do not make ACH payments at this time."

It clearly shows they only make payments via wire for now.
 
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This clearly shows that they are outside the USA - so they don't use American bank.
And that's why Transpact can only send via SWIFT.

Ask American companies...

p.s. And as I know - no any problems at Sedo with ACH.
This will not work only if exactly FCB is banned by Sedo.
 
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This clearly shows that they are outside the USA - so they don't use American bank.
And that's why Transpact can only send via SWIFT.

Ask American companies...

p.s. And as I know - no any problems at Sedo with ACH.
This will not work only if exactly FCB is banned by Sedo.

I've asked Sedo in recent past but they don't do ACH so not possible to get funds in Payoneer.
 
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Sedo does ACH...
They also have office in the USA...

This is even stated in Sedo FAQ:

Direct Deposit (ACH): Direct Deposit is a secure electronic payment option available for members with a US bank account (determined by the address you enter for your bank). Any amount up to 20,000 USD will automatically be issued as a Direct Deposit (ACH) payment to US accounts; amounts above this will be sent as standard wire transfers (see above). The "direct deposit (ACH)" method is available if you have registered your Sedo account using a US or Canadian address. If you live outside the US or Canada, but receive payments to a US bank account, you must choose wire transfer as your method.

But per my understanding, according to their requirements your account address should be also in the USA or Canada.
 
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Sedo does ACH...
They also have office in the USA...

This is even stated in Sedo FAQ:

Direct Deposit (ACH): Direct Deposit is a secure electronic payment option available for members with a US bank account (determined by the address you enter for your bank). Any amount up to 20,000 USD will automatically be issued as a Direct Deposit (ACH) payment to US accounts; amounts above this will be sent as standard wire transfers (see above). The "direct deposit (ACH)" method is available if you have registered your Sedo account using a US or Canadian address. If you live outside the US or Canada, but receive payments to a US bank account, you must choose wire transfer as your method.

But per my understanding, according to their requirements your account address should be also in the USA or Canada.

Yeah, exactly. Either U.S or Canada.
But thanks for sharing! Will remember for future reference in case I move to any part of that world ;)
 
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+ you may also ask Payoneer regarding their card in EUR...
To avoid further conversion.
 
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@AbdulBasit.com
Kindly check out transferwise.com prehaps their service may be of help.
I haven't used them yet, only got to know about them while trying to come up with hand regs last year :xf.grin:.
From what I learnt they offer a boarderless (global) account from which you can spend, send and receive money around the world. Their US account has a ACH routing number, maybe such account can receive funds via ACH.

Don't take my word for it though, please do your own due diligence about the ACH. You can never say, they could have one or two services that may meet domainers' needs.
 
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