Dynadot payout problems

[Mr.company]

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

 

[Mr.company]

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.

 

[JayT]

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.

 

[JayT]

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

 

[Chris Hydrick]

why can't they make a payment processor app for it,not hard.

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

My problem is about the 20 days

Alas, an accurate thread title.

 

[Name Trader]

calling.... @Dynadot and @Eric Lyon

 

[Mr.company]

i have asked to remove post.

 

[Name Trader]

I understand it... But,
Kindly give us your official words about this: For example: My total sales in Dynadot is only $100, in order for me to fulfill requirements to withdraw $500. Will I be allowed to top up $400, to make my account balance to be $500?

Thank you for letting me and us know.

I think he's already done that above. What is it you don't understand about his reply?

 

[Name Trader]

As a journalist, I do understand the strings of words to be sentences, that he/she (@dyanadot) stated above. There are no official words stated like this: You can top up the rest of your account balance, to make your account balance to be $500. Then you can request a pay out / withdraw at minimum $500.
Hope you understand.
I appreciate your comment. Thank you, @stub

I think he basically said that "Yes, you can withdraw the balance at that point, since you would have the minimum $500 USD" in reply to your question. I can't see what he may have left out. I'm not a journalist, though

 

[Dynadot]

Dynadot, why do you keep funds made from sales for 6-10 days. Is it against fraud? When does it take 6 days and when 10 days? Namesilo freezes them for exactly 7 days. Not sure about Epik, but I suspect they can be more flexible.

The waiting period is for our verification team to carry out their fraud checks, so the processing time can be longer or shorter depending on the buyer and which verification checks our team carry out.

IMO, this is a very smart solution.

I will pass the request on to our team to have this feature added, in the meantime our account managers could check the possibility of allowing a payout under the minimum $500 amount if you were to contact them at [email protected].

Is it right @dyandot?
Need your official word to say "Yes".

That's right, you can top up your balance to increase it over the $500 payout minimum if you wish to.

 

[Mr.company]

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

 

[Mr.company]

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.

 

[Mr.company]

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.

 

[Mr.company]

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.

 

[Name Trader]

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.

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

 

[The Durfer]

ty i was curious about that. thank you for clearing that up.

 

[Most Bay]

You could top it up by $51 and then withdraw the total amount. Not exactly the best way to do it. But you get the funds at least.

@Dynadot, is it right?
Said that my total sale in Dynadot marketplace is $100, then I make top up for $400. It makes my total balance to be $500. Then I can withdraw that $500?
Thank you for letting me know...

 

[J Sokol]

Apart from parking companies is there another sales platform that has a minimum withdrawal amount?

Yes, Namecheap has a minimum amount of $100.

 

[D Haynes]

You could top it up by $51 and then withdraw the total amount. Not exactly the best way to do it. But you get the funds at least.

Great advice!

Yes, Namecheap has a minimum amount of $100.

Thanks for the heads up.

 

[Most Bay]

Thank you for your inquiry. Yes, you can withdraw the balance at that point, since you would have the minimum $500 USD.

Hope this clarifies things for you.

Best Regards,
Jordan Kai

I understand it... But,
Kindly give us your official words about this: For example: My total sales in Dynadot is only $100, in order for me to fulfill requirements to withdraw $500. Will I be allowed to top up $400, to make my account balance to be $500?

Thank you for letting me and us know.

 

[Most Bay]

I think he's already done that above. What is it you don't understand about his reply?

As a journalist, I do understand the strings of words to be sentences, that he/she (@dyanadot) stated above. There are no official words stated like this: You can top up the rest of your account balance, to make your account balance to be $500. Then you can request a pay out / withdraw at minimum $500.
Hope you understand.
I appreciate your comment. Thank you, @stub

 

[Most Bay]

why don't add a feature that allows your customer to withdraw any amount
in case he covers the related fees?

IMO, this is a very smart solution.

 

[Most Bay]

I think he basically said that "Yes, you can withdraw the balance at that point, since you would have the minimum $500 USD" in reply to your question. I can't see what he may have left out. I'm not a journalist, though

Is it right @dyandot?
Need your official word to say "Yes".

 

[Most Bay]

Everything is clear!!
@Dynadot , @stub
Here is my experience. My first sale in dynadot credited to my account less then 10 days. And another good news, my second sales has been credited to my account some minutes ago in less then 7 days.
IMO, the balance is useful for me to renew, buy names in ddot marketplace etc.
beside that, it encouraged me to sale more, so I can reach the minimum withdrawl.
Thanks All... this is a good discussion, there is always a solution at the end.