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]

i have asked to remove post.

 

[wwwweb]

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.

 

[karmaco]

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

 

[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

 

[Dynadot]

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.

 

[Most Bay]

Dear @Dynadot
Today, I just chatted with your staf asking for my sold domain in Auction, on 23 November 2019. it is only $63 (after commission). I asked also about when the fund credited in my account. Then the staff directed me to this link: https://www.dynadot.com/community/help/question/payout-policy
At the point: "The minimum payout amount that you can request is $500 USD."
My understanding about request Pay Out is the same as "Withdrawl". Is it right?
If it is right, does it mean that I can only make withdraw or request pay out when my minimum balance is $500?
And if I never reach minimum balance $500, then I will never request a payout?

Kindly please give me a clear explanation, @Dynadot.

Best Kind Regards
BabayS
(Sugianto Babay)

 

[Name Trader]

@BabayS - You can use it for other Dynadot payments. Presumably you do have Dynadot expenses if you have a Dynadot Account?

 

[Dynadot]

Dear @Dynadot
Today, I just chatted with your staf asking for my sold domain in Auction, on 23 November 2019. it is only $63 (after commission). I asked also about when the fund credited in my account. Then the staff directed me to this link: https://www.dynadot.com/community/help/question/payout-policy
At the point: "The minimum payout amount that you can request is $500 USD."
My understanding about request Pay Out is the same as "Withdrawl". Is it right?
If it is right, does it mean that I can only make withdraw or request pay out when my minimum balance is $500?
And if I never reach minimum balance $500, then I will never request a payout?

Kindly please give me a clear explanation, @Dynadot.

Best Kind Regards
BabayS
(Sugianto Babay)

Hello BabayS,

Thank you for your message. Yes, payout is the same as withdrawing your Dynadot account balance. Per our Payout Policy, the minimum that can be requested is $500.00 USD. However, please note that Dynadot account credit never expires, so whatever amount you have can be applied to any subsequent orders you make.

Best Regards,
Jordan Kai

 

[Wesley S]

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

 

[Dynadot]

You're most welcome!

Best Regards,
Jordan Kai

 

[D Haynes]

Wow so unless you can make 500 bucks your money is held ransom? Even though you've already paid a commission? And people are still using this service? What is the reason for not being able to withdraw your money below 500 bucks?

You're most welcome!

Best Regards,
Jordan Kai

 

[wwwweb]

Wow so unless you can make 500 bucks your money is held ransom? Even though you've already paid a commission? And people are still using this service? What is the reason for not being able to withdraw your money below 500 bucks?

I agree paypal should at least have a payout of half of that, it's probably admin costs.

 

[D Haynes]

I agree paypal should at least have a payout of half of that, it's probably admin costs.

Shouldn't the commission cover admin costs though? Apart from parking companies is there another sales platform that has a minimum withdrawal amount? I can't think of a reason to use this service if you have to pay a commission and then if you only have 450 dollars left you can only use it on site. Seems like a 100 percent commission on sales under 500 dollars lol.

 

[Name Trader]

Shouldn't the commission cover admin costs though? Apart from parking companies is there another sales platform that has a minimum withdrawal amount? I can't think of a reason to use this service if you have to pay a commission and then if you only have 450 dollars left you can only use it on site. Seems like a 100 percent commission on sales under 500 dollars lol.

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.

 

[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.

 

[Dynadot]

Shouldn't the commission cover admin costs though? Apart from parking companies is there another sales platform that has a minimum withdrawal amount? I can't think of a reason to use this service if you have to pay a commission and then if you only have 450 dollars left you can only use it on site. Seems like a 100 percent commission on sales under 500 dollars lol.

Thank you for your message.

Our minimum for payout via PayPal is $500 USD due to changes to PayPal's fee schedule. We get charged a flat fee for foreign accounts depending on the recipient's country. The 5% payout fee is to cover funds (via credit card/wire, etc) received from the customer in the first place. I believe the rest has been answered for you in previous replies. The easiest way to qualify for payout is to prepay the account with enough to reach $500 USD. We of course do not aim to hold our customers' funds hostage.

@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...

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

 

[topdom]

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.

 

[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.