Escrow.com has closed my account

[Haris]

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.

Dear Seller, The Buyer has informed us that the domain has been transferred. Thank you for this. Please be assured that the Buyer indeed has made a payment on the transaction and we have secured it in our holding account with Wells Fargo. We would like to inform you that our review team is just checking information from your side to make sure that the transfer of funds is processed accordingly Kindly wait for further updates as we continue with our verification process.

The funds will just stay with escrow.com until you have your verification documents are uploaded

And after I submitted the required documents,

Thank you for letting us know the status of this transaction.

We have noted this on our end. We have notified our review team for transaction to proceed. Please allow up to 1 business day for review. You and the Buyer will be notified via email once the payment is approved.
If there's anything else, don't hesitate to contact us. Have a great day!

5 days later..

This email is to provide you with notice that Internet Escrow Services, Inc. has made the commercial decision that we will no longer be able to provide you with our escrow services. We have taken this decision after careful consideration, and in accordance with the applicable terms and conditions, which are available online. It is not a comment on your conduct, or any other aspect of your relationship with us. We hope that you will appreciate that we are not able to provide any further information about our commercial imperatives. Your account has now been closed. Regards, Escrow.com

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

 

[alcy]

escrow.com was never domainer friendly. or friendly aything or anyone.

even if most their transactions go without problems... when things like this happen, it makes even paypal chargebacks look good...

I hope you end up with your money or the domain at least.
even though you said you expect to lose both.

 

[Haris]

ASKING YOU TO REVERIFY AN ALREADY VERIFIED ACCOUNT, at the time of payout? Sounds like the mega scamster site SKRILL.com.

This is HORRIBLE, my friend, my sympathies are with you. Escrow.com DOES NOT FEEL LIKE THE SAME COMPANY after their takeover. I am Indian, been associated with them long and ALREADY TOP-TIER VERIFIED since long.

On one of my deals in August, they tried to pull something similar on me too, AFTER the money was in Escrow and the domain was already transferred over. They asked me to REVERIFY my TOP-TIER verification which I did with MUCH CROSS-QUESTIONING. They were sleeping while the domain was being transferred and didn't ask me any of this. Eventually, they restored my account status before released my funds. For a little while, I felt I'd lost my money to them. After that, I have used them for few small deals, mostly for acquisitions.

It's highly UNETHICAL to begin asking questions when it's the time to release the funds. Escrow.com does not feel like the same company. If they need to do any KYC/due-diligence on their clients, this needs to be done BEFOREHAND, BEFORE you accept a client's money or allow the domain-transfer.

Thanks mate. Even if they want to re-verify and close my account they should at least complete the transaction, and if they don't want to do that than at least they should be clear about what will happen to the funds, they are absolutely ridiculous.

 

[Haris]

This is the crux of the problem - Escrow had all the time in the world to find issues and ask questions, but it only happens right at the end, when the domain is transferred and the money is about to be released.

If the OP doesn't get an answer ASAP, I would definitely call the Registrar, report a theft and try to reverse the domain transfer.

The domain was transferred out to BlueHost from Name.com so I don't think it will be possible to reverse it. Do registrars do that?

 

[GoWebnames.com]

Always fight for the right, truth ends up winning most of the times. So,
1) Take all steps as already advised.
2) Also contact http://www.dbo.ca.gov/About_DBO/Commissioner_Owen.asp over email explaining all facts in short, with the detailed snapshots attached, CCed to [email protected]
3) Send Escrow.com a legal notice, there are many asian lawyers in California who can do that for a small fee

 

[xynames]

My escrow.com was first opened with no verification years ago. I think it was actually an agreed.com account that rolled over into an escrow.com when escrow bought agreed. Then a year or two ago, it was verified for personal identity, then later verified additionally for corporate docs. I wouldn't expect it to be verified any further, so I can relate to Haris's frustration here.

 

[Haris]

My escrow.com was first opened with no verification years ago. I think it was actually an agreed.com account that rolled over into an escrow.com when escrow bought agreed. Then a year or two ago, it was verified for personal identity, then later verified additionally for corporate docs. I wouldn't expect it to be verified any further, so I can relate to Haris's frustration here.

I don't mind verifying myself 10 times, I would literally invite them to my home so they can confirm everything, lol. All I want from them is they do what they're supposed to do and pay me for the transactions started on their platform, if they want to close my account fine, just release the funds to me. That's my only frustration.

 

[Haris]

Another reply from them after I reminded them and showed them their email which said they had the payment secured and I was supposed to transfer the domain to the buyer. I told them "The transaction is not closed until I am paid"

We apologize for the inconvenience. That email was sent previously after payment was approved and you need to complete verification. After the further review and investigation, it was a commercial decision that our management made. We will be refunding the Buyer's payment made on this transaction.

They don't acknowledge the fact that the domain has been transferred to the buyer and if the buyer won't pay me he has nothing to lose, they had a responsibility, they are supposed to be an 'escrow' company, how can both the goods and the funds end up with the buyer, that's supposed to happen when we don't use an escrow company and deal directly via bank.

 

[Eyasir Arafat]

Another reply from them after I reminded them and showed them their email which said they had the payment secured and I was supposed to transfer the domain to the buyer. I told them "The transaction is not closed until I am paid"



They don't acknowledge the fact that the domain has been transferred to the buyer and if the buyer won't pay me he has nothing to lose, they had a responsibility, they are supposed to be an 'escrow' company, how can both the goods and the funds end up with the buyer, that's supposed to happen when we don't use an escrow company and deal directly via bank.

Ridiculous!!!!!!!!! !!! Then why don't they initiate the verification process right after creating an account?!!!! What's the point of instructing someone to push their assets if they won't pay without knowing them??

Edit: Never used escrow's service yet, now I can say the service of Undeveloped would be a safe choice.

 

[Haris]

Contacted BlueHost.com (new registrar for the domain involved) hoping they would freeze the domain until the buyer pays me after they are re-funded but it seems they can do absolutely nothing, me being the previous owner doesn't help and the conversations with the buyer and escrow.com won't either. The only way I can get paid is if the buyer willingly pays me after he's refunded or escrow.com is forced to pay. About to contact Department of Business Oversight in a minute, already told escrow.com that if they refund the buyer and the buyer won't pay me, they will have to pay me from their own money.

 

[alcy]

well let's hope that their last statement to you about refunding buyer implies that they will not refund him unless he returns your name first to escrow.

otherwise this whole thing is just making escrow.com look ridiculously bad.

 

[xeroox]

For some reason, they have asked me to verify again with a selfie and document like op. I was already verified and i'm in europe, maybe because i'm asian?

 

[GoWebnames.com]

It appears Escrow.com is going to go out of business very soon, so I am thinking of launching an escrow company.

How does PickPockets.com sound?

 

[Haris]

Ridiculous!!!!!!!!! !!! Then why don't they initiate the verification process right after creating an account?!!!! What's the point of instructing someone to push their assets if they won't pay without knowing them??

Edit: Never used escrow's service yet, now I can say the service of Undeveloped would be a safe choice.

Guess what, I verified my account as soon as I created it, then verified Tier 2 for bigger transactions, received payments via Escrow.com multiple times, and now they need verification again, no problemo, verify me every time I want to do a transaction I don't mind, just pay me and then close the transaction.

 

[Haris]

For some reason, they have asked me to verify again with a selfie and document like op. I was already verified and i'm in europe, maybe because i'm asian?

That may be the case.

 

[DomainRecap]

Contacted BlueHost.com (new registrar for the domain involved) hoping they would freeze the domain until the buyer pays me after they are re-funded but it seems they can do absolutely nothing, me being the previous owner doesn't help and the conversations with the buyer and escrow.com won't either.

No, I meant contact your Registrar and see if they can put in a transfer undo on your behalf. I have no idea how long it's been since you set the transfer code, but the receiving Registrar has absolutely no reason to even talk to you - go to where you are the customer.

 

[Haris]

No, I meant contact your Registrar and see if you can put in a transfer undo on your behalf. I have no idea how long it's been since you set the transfer code, but the receiving Registrar has absolutely no reason to even talk to you - go to where you are the customer.

I did it before Escrow.com even closed my account, Name.com cannot do anything as the domain has been transferred out of their registrar, I didn't even expect them to help.

It has been about 20 days since domain was transferred to the buyer.

Edit: If it was a push at the same registrar then I believe it could have been reversed. Even then I would need screenshots of my escrow.com account showing the transaction status, but escrow.com won't let me log in so I can't give any proofs except the email conversation.

 

[DomainRecap]

It has been about 20 days since domain was transferred to the buyer.

There you go, it's way too late for that.

 

[Haris]

There you go, it's way too late for that.

Nope, even if it was just a day the result would be the same, domain was transferred to another registrar, how could Name.com help?

 

[xeroox]

Nope, even if it was just a day the result would be the same, domain was transferred to another registrar, how could Name.com help?

Because there is always 5-6 days for transfer where you can stop it if you tell to your registrant

 

[Haris]

Because there is always 5-6 days for transfer where you can stop it if you tell to your registrant

I expedited the transfer and it took no more than 10 minutes for transfer to complete. Name.com transfer outs are fast.

Even if the transfer had to take 5-6 days I had no idea that Escrow.com would close my account so I would not have stopped the transfer at that time.

 

[xeroox]

I expedited the transfer and it took no more than 10 minutes for transfer to complete. Name.com transfer outs are fast.

Even if the transfer had to take 5-6 days I had no idea that Escrow.com would close my account so I would not have stopped the transfer at that time.

Yea this is really a shit situation

 

[alcy]

I expedited the transfer and it took no more than 10 minutes for transfer to complete. Name.com transfer outs are fast.

Even if the transfer had to take 5-6 days I had no idea that Escrow.com would close my account so I would not have stopped the transfer at that time.

i think u need to email namecom to expediate

either way would not mattr

 

[Haris]

i think u need to email namecom to expediate

either way would not mattr

No just go to your account, 'my domains, then click on the domain that you're transferring out and click expedite, it's transferred.

 

[MapleDots]

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?

I think I had something once a long time ago with paypal where I thought the sale went through and they cut it loose in the end because the transaction was from Canada to Pakistan. Really pissed me off because I made 500 bucks on a flip and only owned the domain for one day. It was my fastest flip and paypal completely screwed it up for me.

I feel your pain, hope it gets resolved quickly

 

[Haris]

I think I had something once a long time ago with paypal where I thought the sale went through and they cut it loose in the end because the transaction was from Canada to Pakistan. Really pissed me off because I made 500 bucks on a flip and only owned the domain for one day. It was my fastest flip and paypal completely screwed it up for me.

I feel your pain, hope it gets resolved quickly

It's different with PayPal because they don't offer their services in Pakistan, Escrow.com does.