question Best payment processing option for large transactions?

spikedo · Mar 23, 2019

Question: What is the best payment processing option for large transactions? I may soon sell a domain for $7.5K. For payment, I can steer the buyer to one of several options: Uniregistry, Afternic, PayPal or Escrow.com.

In terms of commission and fees, Uni will cost me $750 (10%), Afternic $1,500 (20%), PayPal $217.50 (2.9%), and Escrow $162.50 + $6.50 (set fee + 0.26% x $2,500) if I've done my math and understand their fees correctly. Escrow clearly wins.

In terms of buyer payment flexibility, Escrow only accepts wires if amount over $5,000. The other processors allow credit cards and wires. Now PayPal looks better.

Which is best? Looking for any advice/thoughts/recommendations. I don't know how the buyer will pay yet but want to be prepared. Thanks in advance!

Andrew Knox · Mar 26, 2019

Jurgen Wolf said:
The best solution for you - transfer your domain to Epik...
Epik escrow is free for their domains.
And cashout is also free for NamePros members, only SWIFT fee will be charged per international wire payout ($45).

Thanks definitely going to check this out. How do they know that you are an NP member? I guess you just have to email support or message Rob...

lolwarrior said:
For me, it is very easy to load domains there, manage domains there, intuitive and simple.

But what I like most are the people behind it - when I need something, they always respond immediately, in a friendly and professional manner. I am very demanding, but I have no complain so far, it is really good service. Other venues are not coming even close to this atm, imo.

I prefer Undeveloped's interface to Efty's but I can't justify an 8% commission and no direct contact with leads. That's why I am building my own landers

singhhooda · Mar 26, 2019

We missed Flippa.
Now the commission is 10%

vincew · Mar 27, 2019

I've used SafeFunds.com escrow service in the past, they're better and cheaper than escrow.com. The fee for $7.5K would be $98. If you withdraw your money by check that's all you pay. If you withdraw by EFT there's a $12 fee. I believe you can only withdraw by wire transfer if you live outside the US and that fee is $45.

EbookLover · Mar 27, 2019

vincew said:
I've used SafeFunds.com escrow service in the past, they're better and cheaper than escrow.com. The fee for $7.5K would be $98. If you withdraw your money by check that's all you pay. If you withdraw by EFT there's a $12 fee. I believe you can only withdraw by wire transfer if you live outside the US and that fee is $45.

Far be it from me to criticize web design, but their website looks like it was built in 1999 using Microsoft Word. I would expect more out of an escrow company. Is $2500-5000 too much to spend to look like you are a professional escrow company?

vincew · Mar 27, 2019

Yeah their site isn't the greatest looking that's for sure. It doesn't stop me from using them but I could see where it might cause others to go elsewhere.

alcy · Mar 27, 2019

singhhooda said:
We missed Flippa.
Now the commission is 10%

nobody missed flippa
everyone just doesn't think enough of it to recommend it
myself included.

BigTree · Mar 28, 2019

The cheapest possible escrow service, still very reputable is Transpact.

ResoluteDomains · Mar 28, 2019

On the top-right of the my page is an ad for escrow.domains I've seen it quite often here. Can anyone vouch for their services??

bashariqbal · Mar 29, 2019

spikedo said:
Question: What is the best payment processing option for large transactions? I may soon sell a domain for $7.5K. For payment, I can steer the buyer to one of several options: Uniregistry, Afternic, PayPal or Escrow.com.

In terms of commission and fees, Uni will cost me $750 (10%), Afternic $1,500 (20%), PayPal $217.50 (2.9%), and Escrow $162.50 + $6.50 (set fee + 0.26% x $2,500) if I've done my math and understand their fees correctly. Escrow clearly wins.

In terms of buyer payment flexibility, Escrow only accepts wires if amount over $5,000. The other processors allow credit cards and wires. Now PayPal looks better.

Which is best? Looking for any advice/thoughts/recommendations. I don't know how the buyer will pay yet but want to be prepared. Thanks in advance!

Import your lead to undeveloped and you have to pay only 5% as escrow.

WhiteCloud · Mar 30, 2019

If this is an end user sale to an established business in your home country why not just accept a company check and transfer when cleared? We do this for any amount less than $15,000 and have never had an issue. Most end user business buyers just want the name without the additional hassle of special payment requirements. If in the U.S., check the secretary of state web site to verify the entity and trust your assessment of your conversations.

We understand the need for additional caution when dealer with another reseller, foreign transactions or higher dollar amounts. If these conditions apply then the thread is full of good advise regarding escrow services.

question Best payment processing option for large transactions?

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