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.

 

[GoKaizen]

Does anyone have recent experiences with Ecop.com they could share?

 

[the_poet]

Yes, I used it in July. Very smooth transaction.

 

[GeoFan]

Won an auction on CAX.com this week, and the transaction was very smoothly handled on eCop. Email notifications about each step of the process. Everything went very smoothly, the system worked well.

 

[Aggro]

Fracois Cardildo, owner of eCop, has posted on his blog the excerpt near the bottom

He states he sold a few domains for $100,000+ each back in the boom years when his asking price was minimum $100,000

Fast forward to today, he is now "facing the worst financial period of my life, I cannot even make a living, in fact I never really made a living domaining since 2006"

If I were thinking of using the service, I would be extra alert (caveat emptor)

You might just find your escrow funds that you thought were safe...being used by Francois for a quick bet for Forex or Stock trading, based on nothing more than a "hot tip, a sure thing". LOL

Easy when you see Apple shares quickly (or fall) & thinking you could have easily capitalized on the price movement, for quick, easy profit. "If only..."

Oh - did I mention that eCop.com - UNLIKE PROPER escrow companies, is:

- NOT licensed in any jurisdiction
- NOT bonded (performance bond must be pledged
with an official body in case of defaults)
- NOT audited (their accounts are not audited by a reputable audit firm)

Francois, you can run but you can't hide

The jig is almost up!!!

=======================
http://www.domainware.com/2012/07/motionless-nothing-happens/

"I will say the suprimes crisis of 2006 definitively changed this industry, names lost +10 times in value and demand for domains over $10K is now dismal if we compare.

I remember that before this event nobody could ask me for a name under $100K (yes one hundred
thousand dollars). It was simply my bottom selling price and I assure you that even at this price I was not happy to sell as I sold so many crap names over this minimum… Today these names will not sell for few thousands dollars at best.

I am now facing the worst financial period of my life, I cannot even make a living, in fact I never really made a living domaining since 2006, I mainly lived from the money earned previously. I started domaining in 2004/2005 but today even some domainers you think they are top domainers are in a very bad shape in fact…"
======================

 

[Theo Goodman]

I used it and everything went fine. BUT they demand a scaned ID or Passport and that together with
"NOT licensed in any jurisdiction
- NOT bonded (performance bond must be pledged
with an official body in case of defaults)
- NOT audited (their accounts are not audited by a reputable audit firm)
"
kind of makes me worry.

 

[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.

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[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?