NameSilo

Dynadot payout problems

Located in Domain Marketplace Reviews started by leadnetwork, May 14, 2019.

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  1. leadnetwork

    leadnetwork Upgraded Member Gold Account

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    One of my domain names has been sold at marketplace here in Dynadot and the money is not in my Dynadot account yet and I would like to transfer the money out .
    Dynadot answer:You can`t do that . DynaDot says the money will be in your account within 5 to 20 days , preventing people from spending the money in their account on other things besides what DynaDot has to offer, UNTIL the cash out option is available.

    hum , that makes me think ,they just want you to spent more money,so,its not about customers , is it. Dynadot has an estimated annual revenue of $5m and they cannot make a payment processor for the users , this is embarrassing for them.

    This makes me think dynadot likes to earn extra cash on peoples sales based on the interest.

    Their prices are good not doubt but the rest is worst i have ever came across.

    Thank you
     
    Last edited: May 14, 2019
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. topdom

    topdom Established Member

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    Namesilo keeps money exactly for 7 days. You can't use it for 7 days, but you can at least see it somewhere. This is for protection against fraud. It makes sense.
    Sedo keeps money for a few days, by delaying steps, first create a credit note, and wait 1-2 more business days to send money. It can happen faster or slower.

    5 days may be acceptable but 20 days is too long.
     
  3. leadnetwork

    leadnetwork Upgraded Member Gold Account

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    yes , 5 days would be fair but 20 days is a joke.
     
  4. omelet

    omelet Top Member VIP

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    so you cannot transfer the earnings of sales to your personal bank?
     
  5. Advancd.com

    Advancd.com Established Member

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  6. Grilled

    Grilled khjasdhkfdhdskfhhukdfshkj VIP

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    Tagging @Dynadot for an official response.

    ...

    Also, requested the thread be moved to marketplace reviews, NOT news.

    ...

    In the mean time, here is Dynadots payout policy for you to look over if you haven't done so already.

    Per comments from domain blogs, Dynadots market payout policy has caused much controversy over the years.

    Via the best registrar of 2019 contest, @Dynadot responded

    Though...
    But fear not, there may be hope after all...
    FWIW: Dynadot got my vote in this year's 2019 best registrar contest. But if they wish to keep my vote for 2020, I will be watching to see how they handle this, and other issues that arise on nP throughout the year. All response with no action is just blown smoke.
     
    Last edited: May 14, 2019
  7. leadnetwork

    leadnetwork Upgraded Member Gold Account

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    hum , interesting , every company has policies but they should amend this mistakes to improve customer service and to gain loyalty from them.
     
  8. Primary Names

    Primary Names ****** xXx ****** VIP

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    I created an awareness post very recently on 2nd May, giving a little heads up about selling domains on DD marketplace. You seemed to have missed it. TLDR - If you really really really have to sell at DD marketplace then you should set the domain's price to at least $600.
     
  9. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP

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    While we all like to be paid fast, the 5 to 20 days is prominently mentioned in the description of their marketplace and in my opinion is not an unreasonable period. We get spoiled by the super fast Undeveloped payouts but in most areas of commerce if you get paid within 30 days of providing service you are doing well. Those who find the wait too long have many other marketplace options. I agree with @Grilled this thread should be moved. BTW I think the title is unfair to the company. A title like 5 to 20 day payout at Dynadot Marketplace is more accurate and descriptive. This is not a con by the meaning of the word. JMHO
    Bob
     
  10. leadnetwork

    leadnetwork Upgraded Member Gold Account

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    Free of speech isnt a crime ,but i believe criticism and making a point is the key to succeed , this way companies will learn and improve their customer service.
    I own a freelancing company for over a decade ,should i start paying my users after 20 days,same applies to other goods.
     
  11. leadnetwork

    leadnetwork Upgraded Member Gold Account

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    Can my users pay their rent if i decide to pay them within 20 days , is that fair for a user or even a buyer.
     
    Last edited: May 14, 2019
  12. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP

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    In the general business world the majority of transactions are net 30, meaning that the amount must be paid within 30 days of service provided and invoicing. It is totally aporopriate to call for shorter periods but I would say calling it a con when a company is simply following their clearly stated payment schedule is unfair, in my opinion.
    Bob
     
  13. leadnetwork

    leadnetwork Upgraded Member Gold Account

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    you maybe right and i agree in some ways, but in the end of the day , no one should hold anyone's money for more than 7 days at least.
     
  14. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    because you failed to read the policy statements, gives you right to label Dynadot as a con?

    when you get labeled as a con, because some user didn't read your payment terms, will that be fair?

    reading is fundamental

    don't f&*k up any rep you might have now, by making false headlines., as your credibility will be at stake

    imo...
     
  15. JayT

    JayT LIFESAVINGS.ONLINE VIP

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    I could see situations where i'd want to wait 20 days to move money too. Say money coming from a country IP with a reputation of being scammers. This isn't cash being pushed through your local bank branch as in every-day local business here. 20 days seems reasonable even, given the scope of business. Then the $500 thing seems too petty to complain about. It's a small sum of money really, a weeks pay for many. Hopefully we are selling domains for more than this! Namebio has an avg. sale price of $2,497 per domain.
     
    Last edited: May 14, 2019
  16. xynames

    xynames XYNames.com PRO VIP

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    Dynadot takes 21 days to proceed credits for sales in the DynaDot marketplace. My last proceeds payout took exactly 22 days. Usually they take 21 days on the button, but one time it took "only" 11 days. Just the way they are. When I sell something at DD marketplace I just go ahead and forget about the payment for a few weeks, is all.

    This is yet another NP thread title that overstates the gravity of the situation. There is no con.

    The first time I experienced this, I too was not happy about it, but come on, it's no con it's just the way they operate.
     
    Last edited: May 14, 2019
  17. JayT

    JayT LIFESAVINGS.ONLINE VIP

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    On one hand we have stolen domains and fraud happening on some platforms but also complain about transactions taking too long on another.
     
  18. leadnetwork

    leadnetwork Upgraded Member Gold Account

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    time is money for me and we are in 2019 and why can't they make a payment processor app for it,not hard.
    My problem is about the 20 days and not about the registrar itself,and i do think they great for prices but not for payments.
     
  19. Grilled

    Grilled khjasdhkfdhdskfhhukdfshkj VIP

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    Why can't you make a more accurate thread title? not hard.

    Alas, an accurate thread title.
     
  20. stub

    stub Top Member PRO VIP ★★★★★★★★★★

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  21. leadnetwork

    leadnetwork Upgraded Member Gold Account

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    i have asked to remove post.
     
  22. wwwweb

    wwwweb Top Member VIP

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    So many marketplaces, if you are not happy, take your business elsewhere, I can't see them having that much of a end user traffic base, unless you direct traffic there.
     
  23. karmaco

    karmaco Top Member VIP

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    Your fault for not reading terms before you listed for sale not Dynadot’s.
     
  24. stub

    stub Top Member PRO VIP ★★★★★★★★★★

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    Yep. They need to do a LOT of work. @Dynadot
     
  25. Dynadot

    Dynadot Member Dynadot Staff ICA Member VIP

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    I am sorry if you were misadvised by our team @leadnetwork, could you PM your Dynadot username so we could look into that please? Once your funds have been credited you would be able to withdraw the funds if eligible:

    https://www.dynadot.com/community/help/question/payout-policy

    The crediting of funds would be handled manually by our team, so the timeframe can vary, but we do take fraud prevention very seriously and use the waiting period to carry out verification checks to ensure the buyer is legitimate.


     

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