NameSilo

Epik is redefining Escrow

Located in Escrow Service Reviews started by DomainNameBroker.com, Aug 29, 2019.

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  1. Welberch

    Welberch Welberch, LLC Gold Account VIP ★★★★★★★★★★

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    We just learned that Epik does not charge escrow fee if transaction gets cancelled.

    We used Escrow.com before and were charged full escrow fee when the seller decided to walk away from the transaction. So we lost money.

    Epik escrow eliminates this risk.

    Take notice!
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    Is Epik a licensed escrow provider like Escrow.com?

    Do they have the relevant state licenses in each state they do business?

    Brad
     
  3. 70ym

    70ym Established Member

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    It is important? I never noticed that, I think escrow just need to be trustable is ok.
     
  4. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    In my view, it is important for a number of reasons. An escrow company with state licenses has far more rules, regulations, and consumer protections in place.

    There is certainly a far higher bar to be licensed as an escrow company than just say you are an escrow company.

    Many states require escrow agents to be licensed.
    Also, some states regulate how the term "escrow" is used in commerce in that state.

    There is a big difference between being a licensed escrow company and being an "escrow" company.

    Brad
     
    Last edited: Aug 29, 2019
  5. Welberch

    Welberch Welberch, LLC Gold Account VIP ★★★★★★★★★★

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    We don't know but paying a full fee for a cancelled transaction is double upsetting.
     
  6. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    I agree with that. It is kind of ridiculous Escrow.com keeps the escrow fee in that situation.

    Brad
     
  7. DapperJane

    DapperJane Account Auto-Closed

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    Marketplace transaction, not escrow. Doesn’t the same thing happen with name silo, godaddy, dynadot with their marketplace transactions? With a true escrow buyers can transfer to the registrar of their choice.

    Epik accredited registrar, probably think other registrars should be accredited.

    But with escrow, now accreditation not important?
     
  8. Internet.Domains

    Internet.Domains Top Member VIP

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    Safest and most secure escrow, for both the buyer and the seller, is Epik. The list of complaints with other escrow companies is long and deep. You just won't find those complaints with Epik.
     
  9. DapperJane

    DapperJane Account Auto-Closed

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    Not an accredited escrow no matter how many times you repeat it, still just a marketplace transaction. I’ve noticed whenever I see big sales it’s usually thru escrow.com. Big boys I guess see the value of using an actual accredited escrow and not forcing a buyer to a registrar they might not want to use, which could hurt sales.

    Escrow.com - buyer can use any registrar they choose

    Epik marketplace transaction - only Epik
     
  10. Internet.Domains

    Internet.Domains Top Member VIP

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    The choice is yours. I prefer companies that focus on customer service and innovation over companies that use back hand tactics to attempt to take out competition. Again, the choice is yours.
     
  11. Cal2

    Cal2 Established Member

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    Most of us aren't 'big boys'. My 'little boy' experience with selling through Epik was almost 'scary', they make it so easy and fast in comparison. And unless I missed it, I haven't come across a story yet where Epik stuck someone who was selling through them.
     
  12. DapperJane

    DapperJane Account Auto-Closed

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    Which doesn’t change the fact it’s who the big boys use, anybody, even smaller transactions.

    You skipped over the other points brought up, care to tackle them?

    You think it could help or hurt a sale by giving a buyer only 1 registrar option?

    Do you think they should be accredited?

    Do you understand the difference between marketplace transaction and an actual escrow?

    Would you buy your domains at a registrar that wasn’t accredited?
     
    Last edited: Aug 29, 2019
  13. Internet.Domains

    Internet.Domains Top Member VIP

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    I find it intriguing that you only post on threads that involve @Rob Monster and/or Epik. I can't help but think that you are Escrow.com.
     
  14. DapperJane

    DapperJane Account Auto-Closed

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    I find it more intriguing you post in every Epik thread trying to defend stuff that doesn’t hold up. In the escrow thread itself, you were posting more than rob on the subject as if you were an Epik spokesman.i saw an actual lawyer in thread explaining stuff.

    Do you want to tackle the points or just divert? I brought up 4 relevant, on topic questions, tackle them.
     
    Last edited: Aug 29, 2019
  15. Internet.Domains

    Internet.Domains Top Member VIP

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    I like discussion, you will find me on many subjects.

    In regards to Epik and Rob, I like what they are doing. I find the openness and engagement by Rob to be exemplary. Simple as that.
     
  16. DapperJane

    DapperJane Account Auto-Closed

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    If you like discussion, then actually discuss, start with the 4 questions I posted. Something deeper than I like rob, that’s obvious. Your posts come across as more running interference type posts, diversion.
     
    Last edited: Aug 29, 2019
  17. DapperJane

    DapperJane Account Auto-Closed

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    These 4
     
  18. namemarket

    namemarket Top Member VIP ★★★★★★★★★★

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    That is an excellent point. for example, if a buyer knows before giving a firm offer or late in the process he cannot transfer to Godaddy (as most of them want to do in my experience) who is comfortable with and trusts GD and already uses GD for other domains he could become negative and possibly not buy it.
     
    Last edited: Aug 29, 2019
  19. korganian

    korganian Top Member VIP ★★★★★★★★★★

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    Yawn... You sure are beating a dead horse here. You obviously have a hidden agenda.

    Escrow.com is not secure at all. You can buy a stolen domain using them and they won't even do anything about it. Give me a break.

    Epik.com is slam dunk more secure when they require the domain to be registered with them. Rob is also doing more to help domain investors than anyone else is by a mile.
     
    Last edited: Aug 30, 2019
  20. DapperJane

    DapperJane Account Auto-Closed

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    You just skipped the questions as well. It’s another I like rob post. So who has the agenda here? All 4 questions are legit and on topic. Why the struggle to answer them?
     
  21. Bernard Wright

    Bernard Wright Established Member

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    Maybe so. But that's a bit of a derailment. If a sale were lost, it would be unfortunate, yes. But this hypothetical does nothing to support the claim that Epik's lack of accreditation is a possible risk to the transacting parties.

    To get this discussion back on course: OP stated that one benefit of using Epik is the lack of escrow fees if a sale falls short. So, *one point* for Epik there. But some suggest that Epik is not accredited, and therefore, *minus points*.

    Buyer perceptions might be influenced, as DapperJane proposes, or they might not. That's subjective, and is up to the buyer's attitudes, which cannot be predicted or controlled. What concerns me is the difference between a perceived benefit and an actual benefit of accreditation. Objectively, what are the benefits we're missing out on if we go with Epik escrow?
     
  22. korganian

    korganian Top Member VIP ★★★★★★★★★★

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    That is a valid point, but the domain being at Epik is the very factor that makes the transaction so fast and secure. A buyer can always just wait 60 days and then transfer the domain anywhere else if they wish.

    I have experienced the opposite though. I have had corporate buyers who had all their other business domains at Godaddy decide to transfer all their other domains to Epik after they had such a great experience using Epik to manage the domain they purchased from me.
     
  23. AGAME

    AGAME optimalnames.com Gold Account VIP

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    Want to know why I wont use escrow.com any more? They require that I send in PII over the wire, fax, whatever way. They do not explain how they will keep my personal data safe, what security procedures are in place to secure my PII so that the possibility of identity theft is kept to a minimum. Instead, they keep insisting that I send in documents or have someone take a photo of myself holding said documents. Sorry, I am not going to do that. I dont care about KYC. My banking institution vetted me, that should be good enough for anyone asking to do business with someone (at least in the USA). No one can open an account without providing significant documentation. There is absolutely no reason escrow.com needs a photo of me standing there holding my personal information. Not gonna happen. I closed my flippa account over that and I will stop doing business with anyone who insists on this behavior - regardless if its required from my completely incompetent government.
     
  24. DapperJane

    DapperJane Account Auto-Closed

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    And again this.

    Buyer wants to buy a domain, we agree on a price but then I add , it can only be thru Epik. They say they want it at godaddy or dynadot or another registrar. I say only Epik.

    Escrow.com or another actual accredited escrow, buyer can have his choice. Forcing a buyer onto 1 is just not helpful in closing.

    Korganian just posted “a buyer can just wait 60 days”

    Do you actually sell domains? This is not good, when you don’t have to do that.

    It makes no sense whatsoever in limiting a buyer in where they can get the domain.
     
    Last edited: Aug 29, 2019
  25. AGAME

    AGAME optimalnames.com Gold Account VIP

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    Wow, do you've apparently done your targeted homework - havent you. Its so obvious. I gave you my reasons - now go ahead and tell me I am wrong to want to safeguard my personal information from a company that doesnt respond to people nicely on here - sometimes goes away for weeks and ignores questions they dont like, etc. Haven you read those posts too? Are you going to go around and tell people to stop doing business with Godaddy or Sedo or Undeveloped or others places that allow me to sell a domain name and for them to collect payment and wait for that name to be in the hands of the buyer and then provide me with that buyer's payment? If you dont chastise Godaddy, Sedo, Undeveloped and others then you've certainly got a clear agenda. Apparently I am not the only one who's noticed. And no, I dont have have one domain name registered at Epik at the moment.
     

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