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Escrow.com has closed my account

Located in Escrow Service Reviews started by Haris, Jan 1, 2019.

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  1. Haris

    Haris Best Domainer Of The End-Times VIP

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    Hey guys,

    So I sold the domain Ayam/Cemani dotcom via Escrow.com for $2400. I had transferred the domain to the buyer when Escrow confirmed that they have the payment. They then asked for additional documents for verification even though I already am Tier 2 verified. They had my passport and driving license copies but they asked me to submit again with a selfie, while holding a government issued ID which has my address on file for whatever reason.

    Excerpts of what Escrow.com support told me during our conversation.

    And after I submitted the required documents,

    5 days later..

    What is with these companies that they don't think it's important to share the reason why they are closing our accounts when we have done nothing wrong. Okay assholes I don't care there are many other escrow companies I can use but what about my money? As you can see they made no comment about the transaction and my money they are holding, I can't log in to my account, the domain is with the buyer and if they return the money to the buyer then I don't think the buyer will pay me. It's their responsibility because they assured I can transfer the domain to the buyer and they will hold my money until I am verified. Now that they have all the documents and my photo they simply close my account.

    I have already emailed them and messaged @Jackson Elsegood on NP but just sharing this case here so that you know what you are getting into if you are doing business with Escrow.com.

    Thanks
     
    Last edited: Jan 2, 2019
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  2. DomainVP

    DomainVP Domain Expert VIP

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    Wow, that's the total opposite of my experience with Escrow. Just wrapped up a transaction in the similar amount - 3 business day turnaround for the whole process.

    I'm sure they will get you your money and explain this to you.

    Sorry to hear about this happening to you. Keep us posted on the outcome!
     
  3. DomainRecap

    DomainRecap Established Member

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    Same here, but as you know, good experiences tell you absolutely nothing about the company's support system while bad ones tend to show their true colors.
     
  4. bmugford

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

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    I am not sure what is going on here, but an escrow company can't just close your account and pocket the proceeds from a sale. That is ridiculous.

    Brad
     
  5. Haris

    Haris Best Domainer Of The End-Times VIP

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    Yea I think they will give the money back to the buyer, but that is not right because who knows whether the buyer will pay me again now that he has the domain.
     
  6. karmaco

    karmaco Active Member VIP

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    Did you call them about your money? You need to call after the holiday and speak to @Jackson Elsegood. Even when you are not banned their process seems to muck up more than not when it comes to receiving payment.
     
  7. Jv1999

    Jv1999 New Adventures: Squire of the Exo-Tower VIP

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    If you alraedy had a buyer, why not just use Undeveloped? I don't understand. Undeveloped requires no ID.. . just the domain and the money.

    Escrow requires too much, and keeps it on file.. then it also charges like 20% fees.
     
  8. johname

    johname Planet Futbol VIP ★★★★★★★★★★

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    Feels like they're not wanting to do business with you any more would include not even returning the domain to you. (they are willing to take the chance you wont sue them) So its a wave and goodbye.

    Best guess is they don't think you are who you say you are. Or there is some kind or international money exchange (partys) they don't like.

    But of course, they won't tell you
     
  9. forge

    forge mfinger VIP

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    Not even close. Unless you're talking concierge option.
     
  10. maksimfa

    maksimfa Active Member VIP Trusted Contest Holder

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    So... what's the other side of the story?

    How many domains have you transacted with them?

    By any chance are you on any federal watchlists? money laundering, wire transfer fraud, etc.?
     
  11. JB Lions

    JB Lions Top Member VIP

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    No, it's cheaper than Undeveloped. I just had 2 close recently where I paid the fees, it was 3.25%:

    https://www.escrow.com/fee-calculator?newEscrowHeader=b#USD
     
  12. forge

    forge mfinger VIP

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    ouch. Yeah, those aren't offensive questions. Implications aren't so nice really.
     
    Last edited: Jan 2, 2019
  13. johname

    johname Planet Futbol VIP ★★★★★★★★★★

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    It doesn't even have to be all the seller's fault. Could be the buyer has the questionable background and the seller just didn't have all his ID ducks in a row. And it's easyer to write them both off

    Maybe they are smuggling chickens lol

    Can't figure it out really
     
  14. Jv1999

    Jv1999 New Adventures: Squire of the Exo-Tower VIP

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    Yes. I always admit when I'm wanted by the FBI on internet forumz where my reputation as a seller/buyer matters.
     
  15. Jv1999

    Jv1999 New Adventures: Squire of the Exo-Tower VIP

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    Oh raelly, cuz i heard that there was some kind of $100 minimum if the sail is under a certain price. but i didn't know it was 3.25%. But seriously if u hab to give them your SSN and IDs, and yet there's still the same chance that you get screwed... I opt for other options. BIN options are always best.
     
  16. wwwweb

    wwwweb Top Member VIP

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    So what is your home country, only way I could see them doing this if they thought there was an authenticity issue with your documents.
     
  17. maksimfa

    maksimfa Active Member VIP Trusted Contest Holder

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    Not offensive and more rhetorical for the O.P. to answer for themselves.

    I guarantee there is more to the story.

    The fact that Escrow.com just shuts down 100% without further contact... should tell you something.

    Either they found something they should not have (either real or clerical issue) or doing a documents check set off other red flags.

    Assuming buyer or seller was not US based... and anything is possible.
     
  18. xynames

    xynames XYNames.com PRO VIP

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    I know of people who had their escrow.com accounts closed that were created under fictitious names back when they didn’t used to check. And then now when asked to provide identity verification the docs provided end up looking not quite right and the accounts end up being closed. Yes there are places online that provide fake IDs being held up for selfies.

    Not to say that is what happened here.

    Another reason I’ve observed is where escrow.com finds out that the user is transacting business to or from a country that they don’t want to do business with.
     
    Last edited: Jan 2, 2019
  19. xynames

    xynames XYNames.com PRO VIP

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    Correct at 9% UnDeveloped is the most expensive escrow on the planet.

    Even if you provide the buyer and use them only for escrow UnDeveloped charges a hefty 5%.

    Also, in the long run given worldwide anti-money laundering laws I don’t see how UnDeveloped or any other money transfer agent is able to get away with not fully identifying all parties to the transaction.
     
    Last edited: Jan 2, 2019
  20. karmaco

    karmaco Active Member VIP

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    The reasons don’t matter in regards to why they have kept his money. Money was paid to them for a domain they don’t own. They aren’t allowed to just keep it.
     
  21. maksimfa

    maksimfa Active Member VIP Trusted Contest Holder

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    We don't know yet...

    Just as likely his money may have been frozen by the Feds. OR they are returning transaction, etc.

    There will be legal communication.
     
  22. Haris

    Haris Best Domainer Of The End-Times VIP

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    Pakistan, and I think that's the reason, can't say for sure. There are many domainers here who use escrow.com will there accounts be closed too?

    And for those wondering, if I had broken any rules of any country, or the terms and conditions of escrow.com, i would not expect them to release the funds and I would not have created this thread.
     
  23. Haris

    Haris Best Domainer Of The End-Times VIP

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    The documents were fine though, I gave them multiple IDs and took a selfie too so they know that I am who I say I am. If the documents weren't right, they would have said that.
     
  24. Haris

    Haris Best Domainer Of The End-Times VIP

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    lmao, i m not smart enough to pull off stuff like that. I am a domainer and if that's a crime hang me your honor.

    I have sold several domains via escrow.com, some high priced ones too that's why i was already tier 2 verified.
     
  25. Haris

    Haris Best Domainer Of The End-Times VIP

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    I didnt think of that, i guess they think i used fake IDs, well if they would only say that to me so I can provide them more IDs and invite them to my home so they can confirm the address and look at my face and my IDs and make sure I didnt do plastic surgery...
     

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