question Alternatives to Escrow.com?

[discobull]

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.

 

[kriss05]

So if I sell a domain name privately (domain is not parked at sedo's servers), I can still send the transaction to Sedo? What would the fee be? Has anyone done this? I will check back later - have to run out. Thanks!

Yes, it is called Sedo External Escrow Service. 3% fee, minimum fee of $60 applies. I tried it a week ago - everything worked well, fast and smooth. They won't even make it public (won't appear in their sales report) if asked.

 

[ResoluteDomains]

While Payoneer has well established Know Your Customer requirements, it is required and we have been doing it for a long time. Companies that are found in violation of these requirements are subject to large fines. To see just how important this is please see this article from 2012 https://krebsonsecurity.com/2012/11/moneygram-fined-100-million-for-wire-fraud/

It appears from their website that escrow.com has ended a 12 year US banking relationship with Bank of America and moved to Wells Fargo. Their apparent urgency could be a requirement of this possible new relationship, but I really don't know.

Is that the same Wells Fargo that, for over 5 years, illegally opened up millions of customer accounts, processed a 1/2 million credit card applications unbeknownst to the customers, and got over 5000 employees fired?

This is why I wont give up my information. The very same companies that make the rules do not even follow them. Not that Bank of America is much better in other respects.......

I think what is going to happen is someone is going to come up with something that works for all domainers in this industry because honestly, we have nothing solid to rely on. There clearly is opportunity to be had here.

 

[ResoluteDomains]

Yes, it is called Sedo External Escrow Service. 3% fee, minimum fee of $60 applies. I tried it a week ago - everything worked well, fast and smooth. They won't even make it public (won't appear in their sales report) if asked.

Thank you. I will give that a try next sale!

 

[wwwweb]

Has anyone used escrow this week, without having their buyer verify before purchase?

 

[BrandChimp]

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.

I don't trust them enough to hold my money

epik payoneer flippa escrow sedo escrow ecop

 

[smurugappan]

Hi,

I keep seeing in so many threads people swearing by escrow.com and advising others to use nothing but escrow.com.

And I'm beginning to feel a bit like I'm in a flock of sheep smile

There are numerous escrow services. I recently wrote an article about this. eBay recommends various regional escrow services if you live in unusual places like Europe or Australia - and they are all very good and reliable services. Here in the UK, I've often used sedo.co.uk and I understand that sedo.com is pretty good too. And there are many others.

There have been one or two odd cases of an escrow company being fraudulent but it smacks of alarmism (and amateurism) to claim that there's only one safe escrow company in the world.

There are several good reasons to avoid escrow.com and use alternate escrow services - and I may come to that later - but let's hear first if any of you out there has used something other than escrow.com who took your money and ran?

Stand up and be counted if you've been scammed by an escrow company. I suspect that very few have actually had problems with escrow companies disappearing on them. Very few to almost none. Hands up if you have. Tell us the name of the company and what happened.

 

[Cdomains]

epik payoneer flippa escrow sedo escrow ecop

Flippa has been known to ask for a photo of your ID with you holding your ID next to your face.

 

[Kuffy]

I've never been accused of being a sheep.

I won't use Escrow.com any more since they have taken PayPal on board. PP has such a bad history of associating with scammers, and in giving preference to buyers, that I don't believe that they can be trusted. My own experiences in the past bear this out. An Escrow company that allows PayPal payments is unlikely to undertake adequate vetting of buyers imho. Remember that with PP it is not just your customers that matter, but your customer's customers, and how can you verify those.

I really believe that Bitcoin with SegWit is the escrow system of the future, but we are probably a couple of years away from its acceptance.

 

[wwwweb]

I think
Many people here are not to defensive about verifying themselves, but thru the years, they know that the buying party whether it be $500 or $5000 is not going to cooperate such data with a service at that point they only intend to use once.

So the bulk of the dilemma lies within that, as they will say when they buy a domain from godaddy and pay via credit card, nobody asks for a life dossier, nor should they, as passports are very personal to people, and hackers continue to find backdoors into security systems.

These are people who are alredy on the fence about buying a domain online as it is, the bounce rates from unaccepted invoices is going to skyrocket. Or they are going to pay, then request a refund as they are not willing to follow thru.

You just have to ask yourself a simple question of you were a first time domain buyer, at that time buying what you will think is the only domain you need via a service you have never heard of, would you send your most personal documents for storage on their servers?


It is no single diss, at any service, you just have to put yourself in the buyers position.

 

[BrandChimp]

I've never been accused of being a sheep.

I won't use Escrow.com any more since they have taken PayPal on board. PP has such a bad history of associating with scammers, and in giving preference to buyers, that I don't believe that they can be trusted. My own experiences in the past bear this out. An Escrow company that allows PayPal payments is unlikely to undertake adequate vetting of buyers imho. Remember that with PP it is not just your customers that matter, but your customer's customers, and how can you verify those.

I really believe that Bitcoin with SegWit is the escrow system of the future, but we are probably a couple of years away from its acceptance.

Allowing buyer to pay with paypal is a nice option! Remember you get paid by Escrow.com not the buyer. This way you are protected against charge backs.

 

[BrandChimp]

Flippa has been known to ask for a photo of your ID with you holding your ID next to your face.

I have used flippa escrow and they havent asked for any photo.

 

[wwwweb]

I have used flippa escrow and they havent asked for any photo.

flippa escrow asked me for documentation

 

[BrandChimp]

flippa escrow asked me for documentation

This must be really new

 

[wwwweb]

This must be really new

Nope, about 2 years ago, high 4 figure purchase.

 

[Jurgen Wolf]

Flippa may ban you at any time... already heard such stories.

 

[Cdomains]

I have used flippa escrow and they havent asked for any photo

It doesn't happen to everyone.

This must be really new

Not new at all.

Has been happening for years.

 

[tonecas]

the problem with SEDO and the likes is that it may scare some sellers of domains, because they can look at all the domain market action and get second thoughts about selling a domain name...

i prefer by far a generic escrow service with none or very little information about past and current sales of domains. escrow was great also because of this.

SEDO fees also gets a bit high if you trade domains for more than $5k.

finally, and importantly, SEDO is asking for EU clients to pay VAT over the transactions. I suppose when using their escrow service they will too ask for VAT on the trade. Escrow doesn't...

i see moniker as a good alternative. i used them for the last time 3 years ago and it work fine. they ask for a WBEN doc however but that is not a problem.


looking now to payoneer...

 

[ninjadomain]

I still think Escrow.com is a great service, but Epik.com escrow service offers many advantages plus quick and no/low fees.

 

[Cdomains]

I still think Escrow.com is a great service, but Epik.com escrow service offers many advantages plus quick and no/low fees.

Do they require you to send photos of ID's or any other personal documents to use their service?

 

[ninjadomain]

I've never had to send, but there may be a case by case situation.
Here's a link: http://www.epik.com/services/escrow/

 

[sirlordcomic]

Logged in to make a payment and Paypal is no longer an option for me. So I used the link at the bottom of the Escrow email.

Maybe it's removed until you verify?

 

[Jurgen Wolf]

SEDO fees also gets a bit high if you trade domains for more than $5k.

Their fee is 3% regardless of sum but minimum $60.

 

[SpareDomains]

I think
Many people here are not to defensive about verifying themselves, but thru the years, they know that the buying party whether it be $500 or $5000 is not going to cooperate such data with a service at that point they only intend to use once.

So the bulk of the dilemma lies within that, as they will say when they buy a domain from godaddy and pay via credit card, nobody asks for a life dossier, nor should they, as passports are very personal to people, and hackers continue to find backdoors into security systems.

These are people who are alredy on the fence about buying a domain online as it is, the bounce rates from unaccepted invoices is going to skyrocket. Or they are going to pay, then request a refund as they are not willing to follow thru.

You just have to ask yourself a simple question of you were a first time domain buyer, at that time buying what you will think is the only domain you need via a service you have never heard of, would you send your most personal documents for storage on their servers?


It is no single diss, at any service, you just have to put yourself in the buyers position.

Agreed. I personally have no problems sending docs in but I'll be sticking to companies that are licensed and insured as it will be easier to convince an end user to submit docs to a company that is licensed to do business as an Escrow service and insured should something go wrong. Directing an end user to some obscure domaining service they have never heard of that does escrow on the side unlicensed doesn't instill confidence as there is still a wild west feel for end users on domain sales or internet purchases in general.

https://escrow.payoneer.com/security
https://www.escrow.com/why-escrowcom/security

 

[wwwweb]

I've never had to send, but there may be a case by case situation.
Here's a link: http://www.epik.com/services/escrow/

Some clients are very registrar specific, does epik force the transfer to epik?

How do you withdraw your materbucks?

Has epik marketed to your clients after?

Thank you

 

[Jurgen Wolf]

Some clients are very registrar specific, does epik force the transfer to epik?

How do you withdraw your materbucks?

Has epik marketed to your clients after?

Thank you

https://www.namepros.com/threads/epik-announces-escrow-service.895046/