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Escrow.com has closed my account

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Haris

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Hey guys,

So I sold the domain Ayam/Cemani dotcom via Escrow.com for $2400. I had transferred the domain to the buyer when Escrow confirmed that they have the payment. They then asked for additional documents for verification even though I already am Tier 2 verified. They had my passport and driving license copies but they asked me to submit again with a selfie, while holding a government issued ID which has my address on file for whatever reason.

Excerpts of what Escrow.com support told me during our conversation.

Dear Seller, The Buyer has informed us that the domain has been transferred. Thank you for this. Please be assured that the Buyer indeed has made a payment on the transaction and we have secured it in our holding account with Wells Fargo. We would like to inform you that our review team is just checking information from your side to make sure that the transfer of funds is processed accordingly Kindly wait for further updates as we continue with our verification process.

The funds will just stay with escrow.com until you have your verification documents are uploaded

And after I submitted the required documents,

Thank you for letting us know the status of this transaction.

We have noted this on our end. We have notified our review team for transaction to proceed. Please allow up to 1 business day for review. You and the Buyer will be notified via email once the payment is approved.
If there's anything else, don't hesitate to contact us. Have a great day!

5 days later..

This email is to provide you with notice that Internet Escrow Services, Inc. has made the commercial decision that we will no longer be able to provide you with our escrow services. We have taken this decision after careful consideration, and in accordance with the applicable terms and conditions, which are available online. It is not a comment on your conduct, or any other aspect of your relationship with us. We hope that you will appreciate that we are not able to provide any further information about our commercial imperatives. Your account has now been closed. Regards, Escrow.com

What is with these companies that they don't think it's important to share the reason why they are closing our accounts when we have done nothing wrong. Okay assholes I don't care there are many other escrow companies I can use but what about my money? As you can see they made no comment about the transaction and my money they are holding, I can't log in to my account, the domain is with the buyer and if they return the money to the buyer then I don't think the buyer will pay me. It's their responsibility because they assured I can transfer the domain to the buyer and they will hold my money until I am verified. Now that they have all the documents and my photo they simply close my account.

I have already emailed them and messaged @Jackson Elsegood on NP but just sharing this case here so that you know what you are getting into if you are doing business with Escrow.com.

Thanks
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
Wow, that's the total opposite of my experience with Escrow. Just wrapped up a transaction in the similar amount - 3 business day turnaround for the whole process.

I'm sure they will get you your money and explain this to you.

Sorry to hear about this happening to you. Keep us posted on the outcome!
 
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Wow, that's the total opposite of my experience with Escrow. Just wrapped up a transaction in the similar amount - 3 business day turnaround for the whole process.

Same here, but as you know, good experiences tell you absolutely nothing about the company's support system while bad ones tend to show their true colors.
 
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I am not sure what is going on here, but an escrow company can't just close your account and pocket the proceeds from a sale. That is ridiculous.

Brad
 
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I am not sure what is going on here, but an escrow company can't just close your account and pocket the proceeds from a sale. That is ridiculous.

Brad

Yea I think they will give the money back to the buyer, but that is not right because who knows whether the buyer will pay me again now that he has the domain.
 
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Did you call them about your money? You need to call after the holiday and speak to @Jackson Elsegood. Even when you are not banned their process seems to muck up more than not when it comes to receiving payment.
 
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If you alraedy had a buyer, why not just use Undeveloped? I don't understand. Undeveloped requires no ID.. . just the domain and the money.

Escrow requires too much, and keeps it on file.. then it also charges like 20% fees.
 
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Feels like they're not wanting to do business with you any more would include not even returning the domain to you. (they are willing to take the chance you wont sue them) So its a wave and goodbye.

Best guess is they don't think you are who you say you are. Or there is some kind or international money exchange (partys) they don't like.

But of course, they won't tell you
 
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Escrow requires too much, and keeps it on file.. then it also charges like 20% fees.
Not even close. Unless you're talking concierge option.
 
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So... what's the other side of the story?

How many domains have you transacted with them?

By any chance are you on any federal watchlists? money laundering, wire transfer fraud, etc.?
 
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ouch. Yeah, those aren't offensive questions. Implications aren't so nice really.
 
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It doesn't even have to be all the seller's fault. Could be the buyer has the questionable background and the seller just didn't have all his ID ducks in a row. And it's easyer to write them both off

Maybe they are smuggling chickens lol

Can't figure it out really
 
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So... what's the other side of the story?

How many domains have you transacted with them?

By any chance are you on any federal watchlists? money laundering, wire transfer fraud, etc.?


Yes. I always admit when I'm wanted by the FBI on internet forumz where my reputation as a seller/buyer matters.
 
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No, it's cheaper than Undeveloped. I just had 2 close recently where I paid the fees, it was 3.25%:

https://www.escrow.com/fee-calculator?newEscrowHeader=b#USD

Oh raelly, cuz i heard that there was some kind of $100 minimum if the sail is under a certain price. but i didn't know it was 3.25%. But seriously if u hab to give them your SSN and IDs, and yet there's still the same chance that you get screwed... I opt for other options. BIN options are always best.
 
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So what is your home country, only way I could see them doing this if they thought there was an authenticity issue with your documents.
 
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ouch. Yeah, those aren't offensive questions. Implications aren't so nice really.

Yes. I always admit when I'm wanted by the FBI on internet forumz where my reputation as a seller/buyer matters.

Not offensive and more rhetorical for the O.P. to answer for themselves.

I guarantee there is more to the story.

The fact that Escrow.com just shuts down 100% without further contact... should tell you something.

Either they found something they should not have (either real or clerical issue) or doing a documents check set off other red flags.

Assuming buyer or seller was not US based... and anything is possible.
 
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I know of people who had their escrow.com accounts closed that were created under fictitious names back when they didn’t used to check. And then now when asked to provide identity verification the docs provided end up looking not quite right and the accounts end up being closed. Yes there are places online that provide fake IDs being held up for selfies.

Not to say that is what happened here.

Another reason I’ve observed is where escrow.com finds out that the user is transacting business to or from a country that they don’t want to do business with.
 
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No, it's cheaper than Undeveloped. I just had 2 close recently where I paid the fees, it was 3.25%:

https://www.escrow.com/fee-calculator?newEscrowHeader=b#USD

Correct at 9% UnDeveloped is the most expensive escrow on the planet.

Even if you provide the buyer and use them only for escrow UnDeveloped charges a hefty 5%.

Undeveloped requires no ID.. . just the domain and the money.

Also, in the long run given worldwide anti-money laundering laws I don’t see how UnDeveloped or any other money transfer agent is able to get away with not fully identifying all parties to the transaction.
 
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The reasons don’t matter in regards to why they have kept his money. Money was paid to them for a domain they don’t own. They aren’t allowed to just keep it.
 
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The reasons don’t matter in regards to why they have kept his money. Money was paid to them for a domain they don’t own. They aren’t allowed to just keep it.

We don't know yet...

Just as likely his money may have been frozen by the Feds. OR they are returning transaction, etc.

There will be legal communication.
 
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So what is your home country, only way I could see them doing this if they thought there was an authenticity issue with your documents.


Pakistan, and I think that's the reason, can't say for sure. There are many domainers here who use escrow.com will there accounts be closed too?

And for those wondering, if I had broken any rules of any country, or the terms and conditions of escrow.com, i would not expect them to release the funds and I would not have created this thread.
 
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The documents were fine though, I gave them multiple IDs and took a selfie too so they know that I am who I say I am. If the documents weren't right, they would have said that.
 
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So... what's the other side of the story?

How many domains have you transacted with them?

By any chance are you on any federal watchlists? money laundering, wire transfer fraud, etc.?

lmao, i m not smart enough to pull off stuff like that. I am a domainer and if that's a crime hang me your honor.

I have sold several domains via escrow.com, some high priced ones too that's why i was already tier 2 verified.
 
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I know of people who had their escrow.com accounts closed that were created under fictitious names back when they didn’t used to check. And then now when asked to provide identity verification the docs provided end up looking not quite right and the accounts end up being closed. Yes there are places online that provide fake IDs being held up for selfies.

Not to say that is what happened here.

Another reason I’ve observed is where escrow.com finds out that the user is transacting business to or from a country that they don’t want to do business with.

I didnt think of that, i guess they think i used fake IDs, well if they would only say that to me so I can provide them more IDs and invite them to my home so they can confirm the address and look at my face and my IDs and make sure I didnt do plastic surgery...
 
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