Almost lost a deal because of Escrow.com

[Domain Monk]

The buyer and I agreed to do the transaction via escrow.com; buyer submitted the payment, the payment was pending approval for 1 week, they never notified me about this, after contacting support I learned that escrow declined the payment and they requested the buyer to pay again. Buyer paid it again but still it was pending verification, at last, we have to cancel the escrow and do it via PayPal. Now again my another transaction is pending approval...god knows what's going to happen

 

[DNWon]

Welcome to America, where businesses must start behaving like TSA...

I heard that a thorough pat down is also required to buy a domain now too!
Some of you might prefer that though...

 

[Brandon Abbey]

Who paid the escrow penalty for canceling the escrow?

Every so often a client will tell me they paid, then had to pay a second time with a different card.

If you are using Payoneer Escrow and a transaction cancels after payment has been made we do not charge an escrow fee. The buyers funds are reimbursed.

 

[wwwweb]

just got it 10 min ago after several days on hold for my request to close the acc:

"Thank you for confirming the requested information. Your account has been closed. We are sorry to see you go. Should you ever wish to re-open your account, please do not hesitate to contact us back at your earliest convenience.

Sincerely,
Alex

Customer Care"

thanks Alex. you have my full name, my passport, my banking account, my email, my website. and you on your part aint even thinking it would be appropriate to share your surname with me... are you a f*cking secret agency?

sedo and escrow.com. nothing else for $1K+ from now on for me.
play your spy games with someone else...

So what happens to your information now that the account is closed, is it destroyed?

 

[4pm]

So what happens to your information now that the account is closed, is it destroyed?

no idea, to be frank. need to check there ToS and user agreement. in any case i believe it cant be reliably verified even if they claim they destroy everything, db entries and doc scans... hope they have their data encrypted and securely stored. idont see why they would be less secure than my bank or sedo, for example. i hope so..

 

[MapleDots]

I don't think they can destroy the information for at least 8 years because if anything ever goes to legal they need to have the evidence to back up the transactions.

I would be shocked if they deleted the information any sooner. In most cases (like everything) expect the information you give out to stay on servers indefinitely.

 

[4pm]

I don't think they can destroy the information for at least 8 years because if anything ever goes to legal they need to have the evidence to back up the transactions.

im not against that. if you need or required to keep the records for 8 or 100 years, keep them.
that is not about personal data. to me the problem is if you claim you are a payment service please state it clearly under those splashy taglines about how fast, reliable and client oriented you are that if a client is to receive anything above $100 (or whatever the limit triggering security checks is) he'll be asked to submit this, that and everything in between. same applies to a payer. and if we are not satisfied with your replies we'll simply ruin your sale. apart from that we are still fast, reliable and client oriented blah-blah...
if i had known the above requirements and hurdles i would of never even opened an account and tried to use the service... on paper all that seemed so comfortable, reasonably priced and simple to use... i learned my lesson.

 

[Domain Monk]

my another transaction wth escrow is now pending payment approval , after contacting support they told me they waiting for buyer to respond to their email...

 

[johname]

It's not Escrow.com's fault if the client has a bad credit card or if you didnt pre-explain fully the verification process, then client bails on the transaction with verification fright..

 

[MapleDots]

Whole reason escrow is used is to assure nobody loses money. If it takes time then diligence was indicated. The buyer may need time to get the funding in place, that is the reason escrow is used. It makes sure loose ends are tied up and that takes time.

 

[Domain Monk]

I heard back from escrow , the delay was because they had lack of staff on that particular day on payment approval. I got a explanation today why still my payment is not approved...iam furstrated with this company as this is my 2nd deal with them falling apart. Buyer paid and they not approving the payment. A deal is not really closed if yu choose escrow.com. even they can mess it up .. after you do all the hard work to close it ..iam done with them

 

[Domain Monk]

Yes title need to be changed, I Lost the deal because of escrow.com...

 

[Domain Monk]

I Lost the deal high XXX , after sending outbound, research, negotiating, agreeing. There comes a nightmare escrow.com throwing my deal away due to some crap buyer verification system. The reason they not approving the payment because they want the address in paypal and escrow match...first they told me the buyer is already verfied and now they giving me all this.seriously buyer lost interest with the procedure and stop responding and i lose the deal...Good bye escrow.com