Domain Name Escrow - MoneyBookers

[logish]

Hi everyone, I know that moneybookers provide escrow service at a fee of 1% and some domainers use them.

Yet, how does the escrow work when it comes to domain names? Does the seller transfer the domain name to the buyer through moneybookers? Or transfer the domain name directly to the buyer?

For normal goods, MoneyBookers will track the shipment through the tracking code. But domain names are not shipped and thus have no tracking code. So, how do they make sure that the buyer genuinely receives the domain name?

Can someone who has experience with MoneyBookers explain? Thanks.

 

[Kate]

It's regular escrow, the buyer deposits the money, the seller transfers ownership of the name, then the buyer releases the funds.

 

[logish]

Yes, but how does MoneyBookers ensure that I really do transfer the domain? Because, without a means to legitimately know that the domain name has been transferred, the buyer might be dishonest about receiving the domain name.

 

[abdussamad]

I think its more for buyer protection than anything else. Moneybookers is an irreversible payment method so perhaps that is why they offer this escrow service.

You should email their customer support and ask them whether they protect the seller or not.