Don't use Dynadot for selling domains

[Creative Domainer]

I sold some domains to nameprosers at @Dynadot. Now, when I wanted to withdraw $100 I faced a strange coincidence. I found out that dynadot will now deduct 5% again for withdrawal, and then, paypal also will deduct their fee. And I think dynadot does not transfers funds via wire transfer (bank account)
Dynadot has already charged 5% commission upon sales, and now they will 5% extra charge when requesting payout.

See,
Withdraw Amount: around $100
5% commission from dynadot upon sale+ 5% deduction when requesting for withdraw+ Paypal fee+ bank transfer fee+ taxes= What will remain for us?

Deducting twice is cruel and unjust on dynadot's part.

So, here are two things to consider:

1. @Dynadot should think of wire transfer (or transferwise at least)
2. The cruel practice of double-cutting must end.

 

[Jurgen Wolf]

From my understanding, PayPal fee is paid only once by @Dynadot (or their additional 5%), will be no fee on your side.

They don't support wire, it is asked for years - but still mission impossible for them.

 

[Jurgen Wolf]

https://www.dynadot.com/community/help/question/payout-policy
And here it is stated: that only PayPal withdrawal below $500 is affected by additional fee.

 

[Creative Domainer]

They charge 5% amount twice
1. When a domain sells through their marketplace.
2. When withdrawaling amount to paypal or Alipay account
They say they are not responsible for any additional fees that may be charged by PayPal.

 

[Creative Domainer]

https://www.dynadot.com/community/help/question/payout-policy
And here it is stated that only PayPal withdrawal below $500 is affected by additional fee.

Ok but this is paypal concern. Dynadot should end the unfair double deduction at least.

 

[Jurgen Wolf]

The same was on Epik: 5% for PayPal payout and regardless of amount.
They are not alone.

 

[Jurgen Wolf]

@Dynadot
Use PayPal MassPay like Sedo does: https://www.paypal.com/us/brc/article/paypal-mass-payments

 

[Creative Domainer]

The same was on Epik: 5% for PayPal payout and regardless of amount.
They are not alone.

Put epik on the side, It has more cons. We use dynadot, and users have the right to give feedbacks.

 

[Jurgen Wolf]

Use their LiveChat for feedbacks, they visit NamePros only to respond on DMs.

 

[Creative Domainer]

The same was on Epik: 5% for PayPal payout and regardless of amount.
They are not alone.

The monopoly must end. The one who succeeds now will be the one who is smart and facilitator.

 

[johnn]

Do you expect people working for free?

 

[Jurgen Wolf]

I guess, 10% is their standard commission model, like ~everywhere.
Or 5% for those, who use their internal balance (no payout).
And that's all.

 

[johnn]

At least they are not stealing your names like other registrars do.

 

[CraigD]

Dynadot is not responsible for additional fees that may be charged by PayPal, bank transfer fees, taxes

 

[Josytal]

Why all the round about?
Why use DD marketplace when you could've just asked the buyer to pay directly to you via paypal?
Aren't both of you NP members?

 

[LUP]

They charge 5% amount twice
1. When a domain sells through their marketplace.
2. When withdrawaling amount to paypal or Alipay account
They say they are not responsible for any additional fees that may be charged by PayPal.

1. This is common practice when you put your domain in marketplace landers, they charge fee for sold domain (this is like compentation, you not charge for monthly fee like efty)

2. Don't be lazy to read term of service. they stated here https://www.dynadot.com/community/help/question/payout-policy, if you complain now, it's your problem. this is policy

• The minimum payout amount that you can request is $100 USD.

• There is a 5% fee on account credit that is paid out to cover costs associated with the transaction.

• Because PayPal charges extra fees to payout International accounts, there may be an additional cost for payouts under $500 USD. Requesting a payout of less than $500 USD can result in additional fees.

 

[Jurgen Wolf]

Dyna marketplace listing is useful - if you park&sell on their landers.

If you already have the buyer - use PayPal directly or escrow service.

 

[Creative Domainer]

Do you expect people working for free?

Do you think Isn't it very enough for them to charge once?

 

[Creative Domainer]

1. This is common practice when you put your domain in marketplace landers, they charge fee for sold domain (this is like compentation, you not charge for monthly fee like efty)

2. Don't be lazy to read term of service. they stated here https://www.dynadot.com/community/help/question/payout-policy, if you complain now, it's your problem. this is policy

• The minimum payout amount that you can request is $100 USD.

• There is a 5% fee on account credit that is paid out to cover costs associated with the transaction.

• Because PayPal charges extra fees to payout International accounts, there may be an additional cost for payouts under $500 USD. Requesting a payout of less than $500 USD can result in additional fees.

Hehehe.
Direct extortion is difficult, so make extortion legal!

 

[karmaco]

I am going to have to agree to not sell on Dynadot unfortunately. Suddenly they are holding payments at least ten days now. Sold a domain 9 days ago and still waiting for payment.

 

[karmaco]

Day 10 still no payment. Shame on you @Dynadot

 

[Dynadot]

Day 10 still no payment. Shame on you @Dynadot

It does take between 5-10 days for proceeds to be credited to the seller's account on our marketplace, as our verification team must first check and approve the buyer's order. Could you please PM us with the domain name that was sold and we can look into why the proceeds haven't yet been credited?

 

[alcy]

5 percent only no paypal fee.
if over 500usd