NameSilo

Alternatives to Escrow.com?

Labeled as question in Domain Selling and Domain Sales started by discobull, Jan 4, 2017.

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  1. discobull

    discobull Top Member VIP

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    I noticed today upon logging into my escrow.com account that they are now requiring that all customers provide them with copies of government issued ID's. I'm not interested in trusting these people to securely store documents that could be used to steal my identity especially since they're now a foreign-owned company and also because they no longer seem terribly on the ball. Anyone have experience with some of the alternatives?

    I know that snapnames and sedo offer escrow, but I've never tried either of them. Are they any good? Any other recommendations? Thanks.
     
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  2. usernamex

    usernamex Moderator, NamePros Moderator VIP

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  3. Brandon Abbey

    Brandon Abbey Secure Transactions PRO ICA Member VIP ★★★★★★★★★★

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    I would suggest using a company that is licensed to perform escrow transactions and transfer money. Of course I am partial and feel Payoneer is the company that can best provide these services. Send a PM or ask any questions here and we will get back to you. And we are a US company :)
     
  4. frank-germany

    frank-germany domainer since 2001 / musician Gold Account VIP

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  5. discobull

    discobull Top Member VIP

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    Hi Brandon. Thank you for the reply. I've been looking at payoneer and the service looks interesting. I like the fact that your rates are pretty low. What I'm not in love with is that the only form of payment you accept is bank wire. I also would be happier if you offered the option to put the domain into escrow as is available with some of the other services. In any case, I have 3 questions for now:

    1) Would your API allow me to create Buy It Now buttons similar to what is available on Escrow.com?
    2) Do you require copies of passports or driver's licenses, etc.?
    3) Do you offer the option to receive funds via ACH?

    Thanks!
     
    Last edited: Jan 5, 2017
  6. NameOmnia

    NameOmnia alea iacta est VIP

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    I have already an account with you and I have 2 questions/suggestions

    - increase the amount payable via CC
    - is there a way to set the "inspection time" to 1 day or less at the moment when the transaction/escrow is initiated?

    I did not have to submit any documents to Payoneer Escrow but you have to if you want a Payoneer account ( exactly like you do with PayPal )
     
  7. discobull

    discobull Top Member VIP

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    Thanks for the insight. I didn't see anything on their site about accepting credit cards for any amount. What is their present CC limit? Also, what is the inspection period? I honestly don't understand why any inspection period is necessary for a domain the way it's needed for physical goods.
     
  8. NameOmnia

    NameOmnia alea iacta est VIP

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    You are right. I think I have read it here on the forum in a thread but maybe they have removed it.
    If it so they should definitely bring the payment back otherwise international transactions will be delayed and penalized.

    I found the thread. Scroll down and you will see @Brandon Abbey' s reply about the 2000$ via CC
    https://www.namepros.com/threads/payoneer-escrow-feedback.984969/
     
    Last edited: Jan 5, 2017
  9. webquest

    webquest Established Member ★★★★★★★★★★

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    I used Escrow.com for around 14 years. I never needed them to verify who I was buying domains from and don't need them to do that now.

    I verify I am buying from the real owners myself. We just need a middleman to hold the funds (Escrow).

    This uploading ID, proof of address, and/or corp docs for businesses all gets difficult when buying domains from non-domainers and unsavvy internet users.

    I hear Payoneer makes you do the same thing. True Brandon?

    Maybe Sedo doesn't...?
     
  10. NameOmnia

    NameOmnia alea iacta est VIP

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    my experience

     
  11. webquest

    webquest Established Member ★★★★★★★★★★

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    So are you saying you can do escrow with them without having an account?
     
  12. NameOmnia

    NameOmnia alea iacta est VIP

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    No, it is not what I said. You do not need to upload documents to use / sign up for payoneer escrow BUT you will have to upload documents if you want a Payoneer account. They are 2 different things.
    Payoneer account though is the fastest way to have your funds disbursed to so it's recommended to have one...

    https://escrow.payoneer.com/escrow/escrow-payments-faq
     
  13. webquest

    webquest Established Member ★★★★★★★★★★

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    Doesn't make much sense. Will wait for Brandon's reply.
     
  14. Nerevar

    Nerevar Top Member VIP

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    @Brandon Abbey
    Is it correct that for a Payoneer Escrow transaction the seller needs a Payoneer account, but the buyer does not?
     
    Last edited: Jan 5, 2017
  15. SpareDomains

    SpareDomains Jay VIP ★★★★★★★★★★

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    I signed up for a regular payoneer account.
    I also signed up for the Payoneer escrow account and have it set to ACH so goes straight to bank account.
    Haven't used either yet but I will be trying them both soon in the near future.
    I don't recall submitting any docs for either account so maybe a location based requirement (I'm in USA) or Brandon just said I know this dude he's badass. :ROFL:
     
  16. Addison

    Addison Top Member VIP

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  17. Winfluence

    Winfluence Top Member VIP

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    Thanks. If true, I'm totally done with Escrow.com. Reading more about Payoneer. I heard about them, but didn't think they were reputable, but now seeing that they have quite a big client base, for a variety of services...
     
  18. Jurgen Wolf

    Jurgen Wolf Top Member VIP ★★★★★★★★★★

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    Sedo (3% or min. $60, any party can pay) - TRUE and the most comfortable escrow...
    Epik (0% for their domains and 1.5% for others)
    GOLEM.EU (3% - should be paid by Buyer)
     
    Last edited: Jan 5, 2017
  19. Nerevar

    Nerevar Top Member VIP

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    Could someone tell: does SEDO require the buyer to have a Sedo account? Thanks!
     
  20. Jurgen Wolf

    Jurgen Wolf Top Member VIP ★★★★★★★★★★

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    Yes, the buyer should have a Sedo account...
    Just 2-3 mins to register it if needed.
     
    Last edited: Jan 5, 2017
  21. carob

    carob Top Member VIP ★★★★★★★★★★

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    Also the Sedo transaction is fast - can be 24 hours, whereas Escrow.com make you wait at least 3 days.
     
  22. kriss05

    kriss05 Upgraded Member Blue Account VIP ★★★★★★★★★★

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    My recent experience with Sedo external escrow service (for domains sold outside their marketplace): 3% fee, fast support, deal started on January 2nd, closed today.
     
  23. cipcip

    cipcip Owner of TutorialIndex.com VIP ★★★★★★★★★★

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    OMG this is going off the charts. Just submit your id. What are you afraid of? You are using escrow only when you are selling domains with big bucks, not 50$ domains. And when i say big, I say thousands+.
    I submitted my id to paypal long time ago and nothing happen, it's nothing wrong to get verified.
    There are laws in every country for personal character information disclosure. Escrow is a company, is not a website made by a kid during the night. They are governed by laws.
     
  24. carob

    carob Top Member VIP ★★★★★★★★★★

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    Providing your driver's license could put you at risk of identity theft

    http://www.consumerreports.org/cro/news/2013/12/drivers-license-identity-theft/index.htm

    “It’s a terrible, terrible practice," said Marc Rotenberg, executive director of the Electronic Privacy Information Center. "To begin with, it’s easily a contributor to identity theft, and it’s unnecessary.”

    http://www.pcworld.com/article/136120/article.html

    Information to Keep Private
    Almost Never Provide Your...
    Driver's license
    Though your state's Department of Motor Vehicles site may require you to enter this information, no other site should
     
  25. Jurgen Wolf

    Jurgen Wolf Top Member VIP ★★★★★★★★★★

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    So we will receive the new database: Escrow.com papers...
     

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