Escrow.com and chargebacks

[buckshotdots]

I was reading somewhere a discussion about escrow and chargebacks. I emailed their support to find out for sure and this is the answer I received:

Hello Gary,

Thank you for your interest in Escrow.com.

Once funds are approved, Escrow.com takes full responsibility for those funds, including any chargebacks that may occur - though our credit card policy is fairly strict to limit the potential for chargebacks.

If we may be of further assistance please let us know.




Escrow.com

gary-

 

[owntype]

The key issue is not chargebacks.

It is that escrow won't take over the domain name during escrow process, the only way they tell if a domain has been transfered from seller to buyer is through whois record.

So there is a loophole.

 

[KingDon]

Escrow.com is better for the seller. They work to contact the buyer before releasing the funds. They have their act together over there.

 

[wot]

The key issue is not chargebacks.

It is that escrow won't take over the domain name during escrow process, the only way they tell if a domain has been transfered from seller to buyer is through whois record.

So there is a loophole.

I think you will find is is when "buyer" confirms receipt of domain name, after an agreed number of days to check transfer etc.

 

[owntype]

I think you will find is is when "buyer" confirms receipt of domain name, after an agreed number of days to check transfer etc.

Two potential issues:

1. If the seller(fraud) changed the whois info to the buyer's, but didn't actually transfer/push the domain to the buyer. Then the seller insist that he has transfered the name to buyer, how escrow judge this case?

2. Or, if the buyer(fraud) received the domain name, and he changed the whois record to someone else (or maybe the seller's). Then the buyer claim that he didn't receive the domain name, how escrow judge this case?

My personal experience: I sold a domain in mid $xxxx months ago, after receiving the notice from escrow that I could start the transfer process. I modified the whois record to the buyer's, unlocked the domain name, and emailed the auth code to buyer. However, the buyer was offline those days, and can't reply escrow. After 2 days of examination period, escrow emailed me that the buyer didn't confirm the receiving of the name, but they checked the whois record, it is with the buyer's details, so they will wire the $ to me.

After another 2 days, I received the payment from escrow, while the domain is still in my godaddy account. (Of cause, I transfered it to the buyer later on)

So I won't use escrow again, I would go for SEDO or Moniker for high priced domains.

 

[PowerUp]

Two potential issues:

1. If the seller(fraud) changed the whois info to the buyer's, but didn't actually transfer/push the domain to the buyer. Then the seller insist that he has transfered the name to buyer, how escrow judge this case?

2. Or, if the buyer(fraud) received the domain name, and he changed the whois record to someone else (or maybe the seller's). Then the buyer claim that he didn't receive the domain name, how escrow judge this case?

My personal experience: I sold a domain in mid $xxxx months ago, after receiving the notice from escrow that I could start the transfer process. I modified the whois record to the buyer's, unlocked the domain name, and emailed the auth code to buyer. However, the buyer was offline those days, and can't reply escrow. After 2 days of examination period, escrow emailed me that the buyer didn't confirm the receiving of the name, but they checked the whois record, it is with the buyer's details, so they will wire the $ to me.

After another 2 days, I received the payment from escrow, while the domain is still in my godaddy account. (Of cause, I transfered it to the buyer later on)

So I won't use escrow again, I would go for SEDO or Moniker for high priced domains.

WOW, you opened my eyes.

 

[buckshotdots]

Two potential issues:

1. If the seller(fraud) changed the whois info to the buyer's, but didn't actually transfer/push the domain to the buyer. Then the seller insist that he has transfered the name to buyer, how escrow judge this case?

2. Or, if the buyer(fraud) received the domain name, and he changed the whois record to someone else (or maybe the seller's). Then the buyer claim that he didn't receive the domain name, how escrow judge this case?

My personal experience: I sold a domain in mid $xxxx months ago, after receiving the notice from escrow that I could start the transfer process. I modified the whois record to the buyer's, unlocked the domain name, and emailed the auth code to buyer. However, the buyer was offline those days, and can't reply escrow. After 2 days of examination period, escrow emailed me that the buyer didn't confirm the receiving of the name, but they checked the whois record, it is with the buyer's details, so they will wire the $ to me.

After another 2 days, I received the payment from escrow, while the domain is still in my godaddy account. (Of cause, I transfered it to the buyer later on)

So I won't use escrow again, I would go for SEDO or Moniker for high priced domains.

Very interesting. I think sedo is one of the safest (IMHO) but so damn slow.

g-

 

[KingDon]

I like escrow because they do things nice and quick; and I've never had a problem, but then again I'm usually the seller. I wouldn't worry, even after the transaction has taken place, there are still safe guards in place to help anyone who was scammed.

I say Escrow.com is the best way online to buy and sell domains, sedo takes too long and drags on forever. Serious buyers and sellers use Escrow.com; at least IMHO.

 

[sashas]

Two potential issues:

1. If the seller(fraud) changed the whois info to the buyer's, but didn't actually transfer/push the domain to the buyer. Then the seller insist that he has transfered the name to buyer, how escrow judge this case?

2. Or, if the buyer(fraud) received the domain name, and he changed the whois record to someone else (or maybe the seller's). Then the buyer claim that he didn't receive the domain name, how escrow judge this case?

My personal experience: I sold a domain in mid $xxxx months ago, after receiving the notice from escrow that I could start the transfer process. I modified the whois record to the buyer's, unlocked the domain name, and emailed the auth code to buyer. However, the buyer was offline those days, and can't reply escrow. After 2 days of examination period, escrow emailed me that the buyer didn't confirm the receiving of the name, but they checked the whois record, it is with the buyer's details, so they will wire the $ to me.

After another 2 days, I received the payment from escrow, while the domain is still in my godaddy account. (Of cause, I transfered it to the buyer later on)

So I won't use escrow again, I would go for SEDO or Moniker for high priced domains.

Very interesting.
I've been using Escrow.com for a while now.
But this is something to look out for.

I guess I'll shift to Moniker's Escrow. I at least know whom to get in touch with if there is some problem.

 

[MadAboutDomains]

I suspec that keeping better contact with escrow is the best way.

Secondly, I'm sure that if challenged, as they say, once it's with them its up to them to deal with any chargebacks on that. IE. If you dont actually get the name, they will get the money back.

I'm sure its quite secure.