eCop.com - Please report any experiences

[Bannen]

I'm seeing banners by eCop.com starting to show on this forum; I'm always open to a good escrow service that is built with domainers in mind.

Would like to hear from anyone who uses them, particularly about speed, ease of transaction, efficiency, and especially security for both seller and payer.

If anyone has used them, I'd appreciate any comments, including how well your transaction finally finished, using their service.
thank you.

 

[DEFLECTED]

Giving any unlicensed individual your passport details is very dangerous....I would strongly advise against it.

Stick with the big boys like Escrow.com , they may be more expensive but at least you know things are safe.

 

[Havela]

I've used them for two enduser sales over the past week and am very happy.

Francois contacted me promptly to finalise the approval of my account and the money was transferred instantly after the buyer confirmed receipt. Can't say that I have noticed any spelling errors, so perhaps that has been rectified now?

I did not hesitate to recommend ecop.com to my buyers. I gave them the choice between payment first through PayPal or using ecop.com, and they appeared to consider it safer with escrow (understandably).

As for safety, I cannot imagine that a guy like Francois who is so well-known and connected in the business would risk losing his good name over some underhanded escrow service. I would be more reserved if ecop was run by an unknown entity.

I am fairly careful but did not hesitate to upload my passport image. Heck, I would be more concerned if ecop did not require proof of id when handling money transactions. That would really give me cause for concern.

 

[ProSence]

I learned something here, thanks!

 

[Domainace]

As for safety, I cannot imagine that a guy like Francois who is so well-known and connected in the business would risk losing his good name over some underhanded escrow service. I would be more reserved if ecop was run by an unknown entity.

Francois seems like a good guy, and I have heard nothing bad about him. So this isn't directed at Ecop or him specifically.
Your assumption that somebody's good name in the domain industry provides solid assurance is maybe not something you should test too far.
When people have cash flow problems, they often make bad/unethical decisions. Even people with good names do this. And often, because of their good name, they can keep bad behavior covered up for a long while before it comes to light.
If you go with an escrow agency who isn't bonded or insured in some way, you are putting yourself at the mercy of the person who owns it.
Imagine that person is facing not being able to pay a mortgage, for example, on his family home. How easy would it be to say "Well, just this one time, I'll borrow from these escrowed funds, and nobody will be the wiser." So they do, and it works. Their situation gets worse, though, and they do it more often. It finally get to the point that they are unable to replace the funds quickly, so they start delaying payouts. Eventually, they can't pay back the money at all - and the customers are screwed.
This is how these often go. There's no evil plot to cheat people. The owners just lose financial control and discipline, and it snowballs. Ask yourself what you would do. Would you risk your good name by secretly "borrowing money" to keep a roof your kids' heads?

Just something to keep in mind. For a couple hundred dollars, it's probably worth the risk - for the time being.

 

[lennco]

What we need is a true Full Service escrow company that takes possession of the domains as well as the funds.

Escrow.com and Sedo do not provide a full service escrow unless its a a large transaction with Escrow.com or a Godaddy push with Sedo.

Is eCop a full service escrow?

 

[DU]

What we need is a true Full Service escrow company that takes possession of the domains as well as the funds.

Escrow.com and Sedo do not provide a full service escrow unless its a a large transaction with Escrow.com or a Godaddy push with Sedo.

Is eCop a full service escrow?

Moniker does. Sedo does most of the time.

 

[Havela]

Is eCop a full service escrow?

eCop takes possession of domains above $500. That is also when their fees start.

Domain transactions below $500 are completely free with the money in escrow and direct transfer of the domain.

Noting what Domainace said above, I believe the chances that someone would risk losing their business to usurp transactions in the $xxx range are slim although, naturally, anything is possible.

But a free escrow service for low-priced domains is very practical when dealing with e.g. small businesses.

 

[lennco]

Moniker does. Sedo does most of the time.

I have never used Moniker so thanks, I'll look into that.
But Sedo never takes my domains unless its a Godaddy transfer.

All they ever do is monitor the transfer like escrow.com does.
I want an escrow company to take possession of the domain and deal with the transfer to the buyer and pay me immediately after I give them the domain.

 

[johname]

I have never used Moniker .

"escrow"

Thats because your a Cali guy

It not available to Californians

 

[lennco]

"escrow"

Thats because your a Cali guy

It not available to Californians

That figures

 

[iowadawg]

"escrow"

Thats because your a Cali guy

It not available to Californians

Okay, finally got my laugh today from namepros@!

 

[lennco]

Okay, finally got my laugh today from namepros@!

As long as I get to look at California beach bunnies I'm happy

 

[Ms Domainer]

I have never used Moniker so thanks, I'll look into that.
But Sedo never takes my domains unless its a Godaddy transfer.

All they ever do is monitor the transfer like escrow.com does.
I want an escrow company to take possession of the domain and deal with the transfer to the buyer and pay me immediately after I give them the domain.

*

Re: Sedo:

My last transaction was regged at Domainmonster, and I was able to do an internal transfer to Sedo's Domainmonster Transfer account, so, apparently, Sedo is setting up transfer accounts with various registrars.

*

 

[4pm]

*

My last transaction was regged at Domainmonster, and I was able to do an internal transfer to Sedo's Domainmonster Transfer account, so, apparently, Sedo is setting up transfer accounts with various registrars.
*

my last was with Name.com..
pushed to Sedo's Name.com account.. fast, no issues, quick funds release, recommended..

sorry thought it was Sedo thread..

*

 

[Ivannnn]

So the service is free for transactions bellow $500?

 

[Havela]

So the service is free for transactions bellow $500?

Yup. Completely free - and fast. I received a PayPal payout this morning (Sunday) for a transfer that was confirmed by the buyer yesterday evening.

It completely eliminates that eternal 'should I transfer first or require payment first?' question. There is no need to get into that anymore.

 

[johname]

Anyone do a Domain swap escrow on ecop? That seems like a unique service

 

[domenfx]

Finally got the money.

 

[Arief WN]

I just got scam by the buyer, transaction is $300 via Ecop. The buyer already receive the domain but no confirm.
The status still showing: "Waiting for buyer confirmation...". I have complain, let see how Ecop handle this.

I think these red statements are the causes of your problem. :imho:

Source: ecop.com/sell/

How does it work?

1. Anyone can initiate a transaction via ECOP, a copy of the agreement is sent by email to the parties involved.

2. The buyer and seller approve the agreement.

3. The buyer pays the purchase price to ECOP to hold in an escrow account, plus either half or all of the transaction fee, depending upon the agreement between the parties.

4. If the sale price is over $1,000 then the buyer must verify his identity.

5. The seller push all domains to the ECOP escrow account associated with each domain registrar.

6. ECOP verifies that all payments from buyer are received in escrow, and all domains from seller are received in escrow.

7. Domains in escrow are transferred to the buyer.

8. Funds in escrow are released to the appropriate balances.


Note:
For sales under $1,000 or when it's impossible (due to some ccTLDs registry rules) we only escrow the money.
In this case once the money is under escrow the seller must transfer the domains to the registrar accounts specified by the buyer,
and we will only release money once the buyer has gained ownership of all the domains.

 

[domenfx]

@CasualNames I've read that but I've to make a decision, transaction under $1000 it's a bit worry because ecop doesn't escrow the domain.
Anyway I got the money after buyer confirm in more than 3 days and ecop take 72 hours verifying identity document .

 

[WORDSWORTH]

I decided to give eCop a try for a low $xxx sale.

My identity was verified and funds withdrawn to PayPal within the hour. I would use this service again.

 

[alistair80]

Fantastic service from Francois. I used eCop.com several times and it has almost become my first choice for any escrow transaction. Quick, affordable and easy interface!~

 

[FPForum]

Haven't used them and would probably stick to Escrow for now..The main reason being that Escrow is more reputable and trustworthy for end users.

 

[Edward Smeu]

Yep,ecop must work on their visibility and trustworthiness among end-users. They offer great services but I had end-users who would not use anything but escrow.com. And the downside is that they don't allow EU customers to use paypal and charge $0 to send the funds in the bank.

 

[JoeCanadian]

Anybody know if the free option for transactions under $500 is still available? Took a look at their website and could not see any mention of this option.