If you are not using Epik.com for escrow, you are wasting time and money!

Jurgen Wolf said:

Just noticed their conversion rate 24.08 to my local currency UAH, it is significantly lower that official rate of National Bank of Ukraine... as of today it is 25.25
So this is how Amex Fx gets their profit...

It is definitely better to send USD wires.

Click to expand...

Fine either way -- I have founded their Fx rates to be very good, e.g. USD/EUR. We can price compare with Transferwise particularly if this is a larger transaction. In the meantime, we have options and our transaction costs will be highly competitive while also securely holding the domain asset secure with a single counter-party.

Last few years USD/UAH rate in Ukraine varies within 25-28 range...
Such ~24 rate I haven't seen here since January'2016.

Even Google shows 25.26: https://www.google.com/search?q=USD/UAH
24.08 rate is like from another galaxy.

Rob Monster said:

We also get involved in helping domain addicts to pare back their portfolios. Sometimes people are cash poor because they are emotionally attached to bad domains....

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You get me...you really get me!

One day (when I am mentally better prepared for what would happen) I will reach out to you and ask you to help me trim my portfolio by 20% or so. Man, typing that just made my stomach turn a little!

Rob Monster said:

So, here is the deal for NamePros members to have commission-free transaction clearing at Epik:

- Buyer and Seller both have Epik accounts
- Domain is at Epik
- Buyer funds purchase with wire, ACH or BTC

If there is a fee to transfer out based on the seller's preferred disbursement method, we pass that along.

Click to expand...

If Buyer pays by Card or PayPal...
How this scenario affects the Seller/Buyer?

On Sedo - it affects the Buyer only...
They charge additional 3% for payments over $500.

Jurgen Wolf said:

If Buyer pays by Card or PayPal...
How this scenario affects the Seller/Buyer?

On Sedo - it affects the Buyer only...
They charge additional 3% for payments over $500.

Click to expand...

Our credit card rates are higher than that. For smaller transactions, e.g. sub $2500, most people will use our marketplace anyway for selling and leasing.

Managed transaction clearing is really intended for larger transactions and those are usually funded via bank transfer or BTC.

Again, see the beginning of the thread for details. Or PM me to discuss a specific transaction you are contemplating and will advise.

Nothing specific in my question... it is important for most domainers...
From my experience - almost all buyers are paying by Card or PayPal for the domains up to $5K, especially US/CA buyers.
That's why I want to know what fees Seller/Buyer must pay in this ESCROW scenario...

Jurgen Wolf said:

Nothing specific in my question... it is important for most domainers...
From my experience - almost all buyers are paying by Card or PayPal for the domains up to $5K, especially US/CA buyers.
That's why I want to know what fees Seller/Buyer must pay in this ESCROW scenario...

Click to expand...

Be advised, epik gives 1% of customers special privilege. You and I will likely fall victim to the special ones, be it fees or other features at the platform.

As your question is about “most domainers” just know that, most, aren’t on a level playing field with the elite 1% of epik customers.

So what is your recommendation?
To use Epik escrow for those buyers who are fans of SWIFT/ACH...
And other escrow companies (like Sedo escrow) - for CC/PayPal buyers...
Right?

Regarding crypto...
I always offer this option to my buyers - but still nobody wants to pay in BTC...

Rob Monster said:

Again, see the beginning of the thread for details.

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There I see mostly holywar with escrow.com
That's why I have asked directly and clearly.

QUOTE="Jurgen Wolf, post: 7354067, member: 108298"]Regarding crypto...
I always offer this option to my buyers - but still nobody wants to pay in BTC...[/QUOTE]

For calibration, many of our largest transactions of 2019 have been in crypto. I don't see that trend slowing down anytime soon. Also, many sellers are voicing a preference to be paid out in crypto, notably in India, Brazil and Argentina.

Jurgen Wolf said:

So what is your recommendation?
To use Epik escrow for those buyers who are fans of SWIFT/ACH...
And other escrow companies (like Sedo escrow) - for CC/PayPal buyers...
Right?

Click to expand...

I am pretty sure that we can match or beat anyone on transaction fees. If a transaction size is more than $5000, many service providers won't even allow you to use a credit card. We do but just need to approve your account for that higher limit.

As for the best way to use Sedo, I think it is to put your Buy-It-Now pricing into their system so that you get syndicated across their MLS. However, I would have your landing pages focus on Make Offer, though you can do all.

See here for an example:

https://laptopcomputers.com/

That is our SSL lander platform. There is a how-to article here:

https://www.epik.com/support/knowledgebase/selling-and-leasing-domains-on-epik/

https://www.epik.com/support/knowledgebase/enable-a-coming-soon-or-domain-parking-page/

There is also a live discussion about it here on NamePros:

https://www.namepros.com/threads/discuss-your-epik-experience.1146613

Yes, payOUT in crypto is in demand...
Here I agree.

Jurgen Wolf said:

There I see mostly holywar with escrow.com
That's why I have asked directly and clearly.

Click to expand...

Actually they have disappeared from this thread. Last seen on Page 6 and 7 of this thread. Last seen on August 7, 2019:



If found, please call 1-800-I-FOUND-U. There are a few people on NP that want to talk to him about a few things.

Rob Monster said:

If a transaction size is more than $5000, many service providers won't even allow you to use a credit card. We do but just need to approve your account for that higher limit.

Click to expand...

Seller's or Buyer's account must be approved for CC payments $5K+ ?
I think, this is only buyer's problem...

As I know from DAN.com - they accept cards even in $XX,XXX range by default.
Only Sedo is limited to $5K.

Jurgen Wolf said:

Seller's or Buyer's account must be approved for CC payments $5K+ ?
I think, this is only buyer's problem...

As I know from DAN.com - they accept cards even in $XX,XXX range by default.
Only Sedo is limited to $5K.

Click to expand...

As do we -- we just did a single transaction yesterday for $20K for Japanese buyer who preferred to pay with a credit card. The domain is delivered instantly and we usually will waive the 60-day transfer lock as long as the perceived fraud risk is low. For customers buying domains with BTC or wire, there is no 60-day transfer lock.

Rob Monster said:

As do we -- we just did a single transaction yesterday for $20K for Japanese buyer who preferred to pay with a credit card. The domain is delivered instantly and we usually will waive the 60-day transfer lock as long as the perceived fraud risk is low. For customers buying domains with BTC or wire, there is no 60-day transfer lock.

Click to expand...

I don't know if you talked about this or not, but what happens if a buyer does a chargeback with their credit card? Does the seller loose the money?

rh2000 said:

I don't know if you talked about this or not, but what happens if a buyer does a chargeback with their credit card? Does the seller loose the money?

Click to expand...

If it is escrow, we usually eat the loss -- we will have vetted the buyer with various verification methods to be reasonably confident that we won't be left holding the drippy bag.

If it is self-serve marketplace transaction and there is a chargeback, that usually happens within 60 days and we unwind the transaction and restore the domain to the seller.

It can happen that someone does a fraudulent marketplace transaction and gets cashed out and disappears. This is really rare because our fraud detection is excellent.

It can also happen that someone does a fraudulent marketplace transaction and we end up having to finance the chargeback on behalf of the seller who got his domain back.

The good news is that fraud is pretty under control. However, we don't like criminals and discourage them from working with us.

For context, you can see my impromptu video statement from Tuesday:

https://us.tv/videos/watch/dc891c6a-2c5f-4518-84d3-d7eefb92bf50

I posted it while on a walk -- it is hosted on our very own Us.Tv video platform.

Before few days I could not logon into.my Escrow account. I did not know what was wrong even though less than 2 months I had a transaction. Password was correct and everything and I asked for new pass and no email came. I found their chat and their answer was....oh no, you did not get an email? We cant do business with the country you reside so we closed your account. I asked for copies of my data and they said no chance but we can zend you the closure email. I was not surprised at all.

Needless to say, companies like Epik @Rob Monster and @Reza are exactly the companies needed.

As for Escrow posting the details of private discussion with financials, I would ask myself....what if that was my information. Would I want to deal with such company? I would say nox

Abdullah Abdullah said:

Before few days I could not logon into.my Escrow account. I did not know what was wrong even though less than 2 months I had a transaction. Password was correct and everything and I asked for new pass and no email came. I found their chat and their answer was....oh no, you did not get an email? We cant do business with the country you reside so we closed your account. I asked for copies of my data and they said no chance but we can zend you the closure email. I was not surprised at all.

Needless to say, companies like Epik @Rob Monster and @Reza are exactly the companies needed.

As for Escrow posting the details of private discussion with financials, I would ask myself....what if that was my information. Would I want to deal with such company? I would say nox

Click to expand...

Same story. Except that I also had Escrow Buttons on my website and I might have lost couple of sales along the way.

I actually found this info here at NamePros and decided to check whether or not my account was affected. I couldn’t log in. I politely asked them to confirm what’s wrong and received the reply:

“Hey [my firstname],

Thanks for contacting Escrow.com support!

Escrow.com is live and in operation in most countries. However, our service is not supported in your country. We hope that you will understand that we are not able to provide any further information about our commercial imperatives. Your account is now closed.”

That’s it. No excuses, no warnings.

And tbh, their reply sounds like sarcasm, IMHO. I read this literally “We’re so nice to everyone but you. We hope you understand we can’t tell you why. Now fuck off.”

uzver said:

Same story. Except that I also had Escrow Buttons on my website and I might have lost couple of sales along the way.

I actually found this info here at NamePros and decided to check whether or not my account was affected. I couldn’t log in. I politely asked them to confirm what’s wrong and received the reply:

“Hey [my firstname],

Thanks for contacting Escrow.com support!

Escrow.com is live and in operation in most countries. However, our service is not supported in your country. We hope that you will understand that we are not able to provide any further information about our commercial imperatives. Your account is now closed.”

That’s it. No excuses, no warnings.

And tbh, their reply sounds like sarcasm, IMHO. I read this literally “We’re so nice to everyone but you. We hope you understand we can’t tell you why. Now f*ck off.”

Click to expand...

Exactly. I have an excellent accounting system in place and have all the info I need otherwise, I would have made sure they release any information that is in my account and that I need. Strong competitor is what they need and because they feel the heat, that is why they are so concerned with the moves which @Rob Monster is making in this department.

Abdullah Abdullah said:

Needless to say, companies like Epik @Rob Monster and @Reza are exactly the companies needed.

Click to expand...

The only thing I wish either of them would implement is the ability to create a transaction dynamically via BUY NOW buttons (and/or API). There is no alternative to Escrow.com Buttons at the moment.

Abdullah Abdullah said:

Before few days I could not logon into.my Escrow account. I did not know what was wrong even though less than 2 months I had a transaction. Password was correct and everything and I asked for new pass and no email came. I found their chat and their answer was....oh no, you did not get an email? We cant do business with the country you reside so we closed your account. I asked for copies of my data and they said no chance but we can zend you the closure email. I was not surprised at all.

Needless to say, companies like Epik @Rob Monster and @Reza are exactly the companies needed.

As for Escrow posting the details of private discussion with financials, I would ask myself....what if that was my information. Would I want to deal with such company? I would say nox

Click to expand...

Disgraceful behaviour by Escrow.com. How can they treat customers like that? And what if you had a payment plan that was not yet concluded?

Yes, good to have alternatives.

uzver said:

Same story. Except that I also had Escrow Buttons on my website and I might have lost couple of sales along the way.

I actually found this info here at NamePros and decided to check whether or not my account was affected. I couldn’t log in. I politely asked them to confirm what’s wrong and received the reply:

“Hey [my firstname],

Thanks for contacting Escrow.com support!

Escrow.com is live and in operation in most countries. However, our service is not supported in your country. We hope that you will understand that we are not able to provide any further information about our commercial imperatives. Your account is now closed.”

That’s it. No excuses, no warnings.

And tbh, their reply sounds like sarcasm, IMHO. I read this literally “We’re so nice to everyone but you. We hope you understand we can’t tell you why. Now f*ck off.”

Click to expand...

It's really appalling that they treat customers like this. I have also had issues with them in the past and definitely prefer using Epik or DAN.

Abdullah Abdullah said:

I would have made sure they release any information that is in my account and that I need.

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Cannot agree more. I was lucky enough to make few screenshots in June since I decided to submit few 5 figure transactions to DNJournal and NameBio. But everything under 10K was lost together with my Escrow .com account.