Escrow.com from king to amateur!

[BrandChimp]

I used to LOVE escrow.com for the transaction speed and customer support.

However, my last two transactions were not so good.

First one, everything was find except I have been waiting for more than 2 weeks to get my money.

Second one, buyer sent the payment 7 days ago and we did selected 1 day verification... However, nothing as been done yet.

I asked to cancel the last transaction asap as we will use a more serious service.


What I have learned from this...

DON"T LISTEN TO YOUR HEART, LISTEN THE RECENT REVIEWS

 

[forge]

Right now it looks to be 100% figured out, I think the issue was partly on my end and I really appreciate Jackson's replies and insight.
Actually, I am glad to get an early preview of what will be implemented soon.
So win-win. Thanks for your insights also, you seem very clued in.

I think the issue still remains that Escrow's support personnel are not privy to (or perhaps don't fully understand) some of their company's policies and/or how to clearly convey them to their customers. It's a problem that really needs to be addressed.

 

[wwwweb]

I had 3 deals close today at escrow, all were concluded in the morning. Escrow is still at work, I just received the closing statements for all 3 this evening, very impressive. I know there were some growing pains during the first part of the transition.

During the past few weeks my transactions have been getting closed out very quickly. I read some earlier reviews in this thread, one I did not know had to do with a paper check being mailed, that I would put under extra ordinary, and another the President himself explained the situation, and the OP seemed to understand what was going on.

Escrow for me right now is working on all cylnders to be honest. I mean they did open new offices, and change the platform a bit, including adding concierge service which would have intial hiccups, but overall it is very solid.

 

[soannoyed]

I had 3 deals close today at escrow, all were concluded in the morning. Escrow is still at work, I just received the closing statements for all 3 this evening, very impressive. I know there were some growing pains during the first part of the transition.

During the past few weeks my transactions have been getting closed out very quickly. I read some earlier reviews in this thread, one I did not know had to do with a paper check being mailed, that I would put under extra ordinary, and another the President himself explained the situation, and the OP seemed to understand what was going on.

Escrow for me right now is working on all cylnders to be honest. I mean they did open new offices, and change the platform a bit, including adding concierge service which would have intial hiccups, but overall it is very solid.

Congrats. I think I'll be using their concierge service in the future. Much simpler than playing tag with customers who vanish after I transfer domains and then have to play waiting games with.

 

[BrandChimp]

Hi Xavier,
Jumping in here to respond to the original comments:
Your first transaction was selected to be disbursed via US mail check, which takes the longest to reach you. If you haven't received the check yet let's cancel it and disburse the funds via a faster method (ACH or Wire Transfer), feel free to reach me via email which I've PM'd to you.

In your latest transaction, I can see that your buyer's PayPal payment hasn't been accepted. I've asked our Chinese language support to reach out to them to see if they can use a different funding source.

Cheers,
Jackson Elsegood
General Manager, Escrow.com

Jackson,

Thank you for your comment. It's really appreciated.

However, note that it would be nice to be contacted in case of an issue with the buyers payment. I haven't gotten a response to my email and live chat support was friendly. Unfortunately, the live chat person told me that the financial team was supposed to contact me today. It's 11h47 p.m and no one emailed or called me yet.

I didn't selected wire transfer as it would cost me $80 usd ($110 CAD) in fees for the two transactions. And that doesen't include the basic escrow fees.


PM sent!
Xavier

 

[BrandChimp]

Still no answer from Escrow.com no reply to my email...

Seriously avoid them at all cost. I will try Epik.com, thank you for your suggestions!

 

[wwwweb]

Still no answer from Escrow.com no reply to my email...

Seriously avoid them at all cost. I will try Epik.com, thank you for your suggestions!

It's Thanksigiving, their offices are closed?

 

[BrandChimp]

It's Thanksigiving, their offices are closed?

thanks but I was supposed to receive a reply yesterday as the live chat person told me on Tuesday.

They where open yesterday.

 

[wwwweb]

thanks but I was supposed to receive a reply yesterday as the live chat person told me on Tuesday.

They where open yesterday.

Thats true, but didn't Jackson tell you to PM him directly?

 

[BrandChimp]

Thats true, but didn't Jackson tell you to PM him directly?

Yes I did, waiting for his reply. I just don\t understand why there's no communication between escrow and it's customers.

Thankfully, there is namepros and Jackson is willing to help after seeing this thread!

 

[BrandChimp]

It's Thanksigiving, their offices are closed?

Just a follow up, there's a banner on Escrow .com saying
<Over the Thanksgiving holiday, Escrow.com customer support and transaction processing will continue as normal. >

Jackson has been really helpful and told me that they will lower the international wire fees soon. This is great news!

 

[ivey]

My Experience:

1. My most recent escrow transaction closed pretty fast..
2. I didn't have a hard time speaking to someone either.. while logged in their website, I used their live chat and I got help immediately. A broker started my escrow using the wrong email address and that was fixed quickly.
3. The money was dispersed fast (5-7 days). They could improve by offering an escrow card which you can use to access your funds immediately at any atm. I'm sure they may consider that.
4. Photo ID, and proof of address? I have not received any correspondence from escrow about this? if this isn't officially released by escrow then how do you know this is truth? And if they did, I wouldn't mind showing my id.. I use ACH so address is no problem? My address is in the whois of all the domains I own. Plus it's a one time thing. The concern comes in with the buyer, because that's too much for them and it could stop a sale. Hopefully it isnt true, as The only email I recently got from escrow was the following:

We are reducing our disbursement fees (again)
Earlier this year I was pleased to announce that ACH disbursements from Escrow.com would no longer incur a $10 setup fee and instead be free of charge.

Today I am happy to announce a further reduction to our disbursement fees, as we are halving the cost of both domestic (US) and international wire transfers.

The following disbursement options are now available:

ACH FREE
Domestic (US) Wire Transfer $10
International Wire Transfer $20

Apart from finding a way to speed up transactions... I've had no problems.

 

[BrandChimp]

1. I didn't have a hard time speaking to someone either.. while logged in their website, I used their live chat and I got help immediately. A broker started my escrow using the wrong email address and that was fixed quickly.

Live chat was very professional and fast but they couldn't help because they don't have access to finical details of my two transactions.

I used to love escrow as I said. All my other transactions were rocket fast and support was really there for me. Just not this time.

An escrow card sounds like a good idea! BrandBucket can pay you via payoneer so you can access your funds with your prepaid card if you have one!

 

[ivey]

Live chat was very professional and fast but they couldn't help because they don't have access to finical details of my two transactions.

I used to love escrow as I said. All my other transactions were rocket fast and support was really there for me. Just not this time.

An escrow card sounds like a good idea! BrandBucket can pay you via payoneer so you can access your funds with your prepaid card if you have one!

I've been hearing alot about payoneer... do you have any experience with them?
the card, transaction speed etc..

 

[BrandChimp]

I've been hearing alot about payoneer... do you have any experience with them?
the card, transaction speed etc..

I did get a card years ago when I was in a MLM company. I liked the card. Was easy to use. But that was years ago.

 

[ivey]

I did get a card years ago when I was in a MLM company. I liked the card. Was easy to use. But that was years ago.

What's holding you back from using them again?
I may try to do 1 transaction on it or the experience..

 

[BrandChimp]

What's holding you back from using them again?
I may try to do 1 transaction on it or the experience..

Back then they were just offering pre-paid cards. I was using it to receive payments from the MLM company. I never used them since I left MLM.

Id like to test their escrow service. Maybe next time!

 

[platey]

I like to receive quick easy convenient paypal payout so escrow.com is nto for me anyway
but I called them recently to ask soem things, and it was awful support, some rude girl who didn't wanna be there. bad. unpleasant

will never deal again.

recently had my first very good experience with epik escrow
they are registrar too so they guarantee payment, deal with buyer and can get the locked domain out in case of payment issues etc.
no need for stupid concierge fees when you have registrar+escrow all in one

they deposit escrow funds into epik own curncy accoutn called masterbucks, u can leave there and pay 0% escrow fee and use it to renew transfer stuff etc on epik.. or cashout to paypal 5% total fee. so no paypal fee either.

I will continue to use epik escrow personally.

personalyl I love the registrar+escrow all in one combo.

gl

why don't all registrars include free comprehensive inhouse escrow as standard as usually who a person sells a domain they may want go buy more new domains quite soon after i'd have thought

 

[soannoyed]

why don't all registrars include free comprehensive inhouse escrow as standard as usually who a person sells a domain they may want go buy more new domains quite soon after i'd have thought

Because there are banking rules they would need to follow. It's not a simple process to implement (legally).

 

[DNGear]

Escrow.com new policy?

Hello Buyer and Seller,

Do not that we are more strict with the approval of funds most especially when these are from premier payment methods such as PayPal and credit card. Kindly phone verify your account by calling in. This is a requirement for credit card payments to be approved. You can call 888.511.8600 (Domestic) and 1.415.801.2270 (International) available Monday-Friday, 8am to 11pm, PST. You will need to press 0 when you hear the recording.

If we can be of assistance in any way please let us know. Thank you!


Regards,

Escrow.com Customer Support
180 Montgomery St, Suite 650
San Francisco, CA 94104

I dont know, why the seller should call escrow?

@Jackson Elsegood

 

[BrandChimp]

Wow! They have replied to your email!???

 

[DNGear]

Yes..now they are available on chat.
why should we call as a seller??

 

[BrandChimp]

Oh, chat support will reply but email support doesn't exist. well in my case they ignored my emails.

Just click 'verify phone' from your account profile.

should be good or just go with another escrow company that really cares about it's customers. lol

 

[DNGear]

is it for first time customers?

I have completed around 5 transactions.

 

[BrandChimp]

Not the first time I use them.

 

[Brandon Abbey]

It is my understanding that escrow.com has retained two employees from the time freelancer took over. That may explain some of the frustration people appear to be having, but it has been over a year.

I have always said when selecting an escrow company you need to make sure they are properly licensed to handle your transaction. Some of the ones mentioned in this thread are not licensed, either as an escrow company or a money transmitter. You don't want a company shut down in the middle of your transaction.

Earlier in the thread it was mentioned that I should start a competitor to escrow.com. That was considered, but there were a few reasons I did not. The barrier to entry is extremely high from a cost standpoint, but mostly from a compliance standpoint. There are many regulations imposed by individual states and countries. To be able to keep up with these takes considerable effort and it was one of the things that kept me up at night while running escrow.com.

The most obvious choice for me was to join a company who already had a world class system offering the safety and security of escrow and all the compliance issues locked in. That company is Payoneer. Some of you have used the system for domain sales and we very much appreciate your business. When I was at escrow.com many of our product improvements came from our customers. We are already making enhancements at Payoneer based on some of your comments and suggestions. Please keep them coming. We want to earn your business. I can be reached at [email protected] Should you be planning to attend Namescon stop by our booth for a chat.

All the best,

Brandon