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

 

[DomainRecap]

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

I don't think you understand what were are referring to - you have around 3-5 days to initiate a reversal or undo request whereby the domain is returned to your account - mostly it is used to combat fraud and theft.

 

[000]

What in the world??

I'm sure @Jackson Elsegood will have a comment soon....

I'll be keeping an eye on this thread, and until I see a PROFESSIONAL resolution I certainly won't be initiating any new transactions via Escrow.com!

I have one in process right now, and it's absurd to think that Escrow "Management" would just randomly decide to make a "commercial decision" MID-TRANSACTION and cancel the deal, especially without ensuring that the property is returned to the seller.

 

[atinc]

There is still no reply from any escrow.com representative?!

Shame of you guys!

This is a steal, taking away the domain and the money from the seller and closing his account?!

ridiculous

 

[Coinking]

I'm watching this thread last few hours and waiting a single one reply from escrow team but they silent.
If escrow not give justification for this Bad action than i will publish a article about this scandal.

 

[wwwweb]

Escrow is not going to comment on a private account in public, if anything they should respond to the OP in private to as what happend.

I don't think they are holding any funds, if the domain did not transfer, they are obligated to refund the buyers funds. I am sure both sides can find another method to transact.

It probably has to do with the sellers source country being Pakistan, or maybe something in the foreign ID, it is really strange to be cut off like this without an explanation. Unless the account is in a hold status.

 

[maksimfa]

Escrow is not going to comment on a private account in public, if anything they should respond to the OP in private to as what happend.

I don't think they are holding any funds, if the domain did not transfer, they are obligated to refund the buyers funds. I am sure both sides can find another method to transact.

It probably has to do with the sellers source country being Pakistan, or maybe something in the foreign ID, it is really strange to be cut off like this without an explanation. Unless the account is in a hold status.

OR it kicked a notification to hold and stop anything from one of the governments.

 

[DomainRecap]

I don't think they are holding any funds, if the domain did not transfer, they are obligated to refund the buyers funds. I am sure both sides can find another method to transact.

According to the OP, the domain in question has been transferred and in the buyer's control for 20 days.

 

[wwwweb]

According to the OP, the domain in question has been transferred and in the buyer's control for 20 days.

Well that is a cluster***k then, unless the buyers funds came back bad? At that level the buyer would not need tier 2 verification.

 

[alcy]

Well that is a cluster***k then, unless the buyers funds came back bad? At that level the buyer would not need tier 2 verification.

looks more bout seler than buyer

 

[MapleDots]

Escrow is not going to comment on a private account in public, if anything they should respond to the OP in private to as what happend.

He has been quite active in the past
https://www.namepros.com/search/31955826/

Looks like he has personally gotten involved.
This topic will probably be picked up by domaining.com at one point because the OP is out his domain with no explanation. That will not go down silently in the domaining industry and Elsegood or someone with similar authority will eventually have to address it. They can do it now or wait until it blows up on a number of blogs. My suggestion would be to end it now, state why it was done and release the funds or explain why they did not.

Regardless though.... unless the domain was previously stolen or a crime of some sort was involved the op does have a right to his funds or domain back.

 

[Haris]

Escrow is not going to comment on a private account in public, if anything they should respond to the OP in private to as what happend.

I don't think they are holding any funds, if the domain did not transfer, they are obligated to refund the buyers funds. I am sure both sides can find another method to transact.

It probably has to do with the sellers source country being Pakistan, or maybe something in the foreign ID, it is really strange to be cut off like this without an explanation. Unless the account is in a hold status.

I shared their previous email on the 3rd page where they said they will refund the buyer.

The account is permanently closed.

Most ID's like any other country are in a local language but I have made an English version of my ID's from the responsible authorities here only because of verification requirements of Escrow, AfterNic and other companies. I don't know what's missing, it's more likely they just want to be safe than sorry and I understand that, it's their company and they can choose who they want to do business with. I guess everyone here would agree on this that they should at least release the funds to me if the domain has already transferred to the buyer.

 

[Haris]

After my multiple threats I finally received a positive message from them.

I have notified and request our review team to reactivate account and if we can disbursed the funds since transfer was confirmed by Buyer. Please wait for an update regarding the request.

It's just the support team so there are no guarantees whether the review team will allow my account to be reactivated just for this transaction. I hope they do what's right.

 

[Jv1999]

i don't get how any company could take your domain, take the buyer's money, then transfer the domain to the buyer and not transfer the money to the seller?

People pick Escrow.com to avoid THIS EXACT situation. But here we are with escrow causing that situation.

Are they just going to keep the money? That makes $0 sense.

Tbh, I think they're trying to get the buyer to give them back the domain so that they can refund the buyer...

 

[MapleDots]

After my multiple threats I finally received a positive message from them.



It's just the support team so there are no guarantees whether the review team will allow my account to be reactivated just for this transaction. I hope they do what's right.

What a crock!!
Buyer admits he has the product (domain)

They admit they have your funds

What the!!!! - had you not made a stink would they have kept the funds?

Wow..... just wow

 

[Haris]

OR it kicked a notification to hold and stop anything from one of the governments.

I have a trillion dollar price on my head because i am the best domainer of the end-times

 

[Jv1999]

even if haris gets his $, he's definitely auto-closing his own escrow account afterward

 

[MapleDots]

even if haris gets his $, he's definitely auto-closing his own escrow account afterward

It's kind of like when a credit card company turns down your transaction even though you know your bill is paid and the credit is there.

You can cancel the card or call and find out what happened.

In the end cooler heads will prevail and escrow is a common denominator in domaining. A transaction may depend on it in the future and closing the account is best done only as a last resort. Never give up any tools of the trade if you can avoid it.

 

[Jv1999]

It's kind of like when a credit card company turns down your transaction even though you know your bill is paid and the credit is there.

You can cancel the card or call and find out what happened.

In the end cooler heads will prevail and escrow is a common denominator in domaining. A transaction may depend on it in the future and closing the account is best done only as a last resort. Never give up any tools of the trade if you can avoid it.

Nah. I like dealing with companies that RESPECT me. Continuing to do business with Escrow.com just says something bad about your personal self-worth. I mean, they literally closed his account, were rude, and made him stress about a legit transaction where he already transferred the domain.

For him to just get back up and smile and use them again after all that... and give them commission.. Haris is not that kind of a pathetic person.

/unless they offer him a recompensatory 1% commission for life /

 

[maksimfa]

I have a trillion dollar price on my head because i am the best domainer of the end-times

Has nothing to do with that, nor did I ever imply you did anything wrong.

People get on watch lists by mistake all of the time. It is also quite possible someone with a similar name is on one. When a company is told to stop... you stop.

From now on all of your communication to them should be in writing and get the answers you need.

 

[MapleDots]

For him to just get back up and smile and use them again after all that... and give them commission.. Haris is not that kind of a pathetic person.

Has nothing to do with anything personal, he is dealing with a big corporation and they make decisions simply based on policy. To read more into it is overthinking it.

Imagine a few years from now someone wants to buy a domain from him and insists on Escrow as the only form of payment........ hey wait someone made a rash decision and closed his account even after the problem was resolved.

My advice is to hold tight and don't rush to any conclusions. They have re-contacted Haris and I would be just as upset (hell I was upset just reading about it) but Escrow and similar services are a part of domaining. I had similar issues with paypal and if I closed my account every time an issue came up then eventually I would run out of accounts to close up.

 

[Jv1999]

Has nothing to do with anything personal, he is dealing with a big corporation and they make decisions simply based on policy. To read more into it is overthinking it.

Imagine a few years from now someone wants to buy a domain from him and insists on Escrow as the only form of payment........ hey wait someone made a rash decision and closed his account even after the problem was resolved.

My advice is to hold tight and don't rush to any conclusions. They have re-contacted Haris and I would be just as upset (hell I was upset just reading about it) but Escrow and similar services are a part of domaining. I had similar issues with paypal and if I closed my account every time an issue came up then eventually I would run out of accounts to close up.

There are many other ways to get an escrow service that doesn't involve dealing with a company that's already shown it has no problem taking your domain and keeping your money.

It's unlikely a buyer will simply ask for Escrow.com unless they're planning on scamming you via loophole. Many registrars have a BIN page, Haris can always insist that he transfer the domain to one of them and use their BIN so that the buyer has a secure and instant purchase.

There's also Undev.. etc. etc... and if all else fails, there's always BIN at GD too. With all these options, it's unlikely a buyer will insist in Escrow.com

 

[maksimfa]

A large business customer may be required to use Escrow.com.

I.e. I am CEO of XYZ Corp. We agree to buy your domain for $1,000,000. I got my board's approval for the deal to go through Escrow.com.

You get that offer. Are you going to turn it down? Or are you going to tell me I need to go through someone else?

My response is... Our board meets quarterly and this is what the deal is, take it or leave it.

Why are you against using Escrow.com?

THAT will then open up the discussion that you do not want to have.

The guys who write the checks dictate the discussion. Generally the buyer is also going to be the one who dictates how they want the deal to close. IT is up to you as the seller to decide whether you want to or not.... and I don't think any seller would want to not take a deal because they can't.

Personally, I HATE paypal... but my forums use Paypal nearly 100% to process all transactions. lol. I unfortunately need them more than they need me.

 

[wwwweb]

I can imagine this is a lot of money in your country.

An escrow company has to make the transaction whole, most likely they cannot get the domain back, they will have to get you your funds one way or another.


What is the average annual income in Pakistan?

Pakistanis earn $1513 a year on average Per capita income: A Pakistani now makes $1,513 a year - The Express Tribune

 

[Haris]

I can imagine this is a lot of money in your country.

An escrow company has to make the transaction whole, most likely they cannot get the domain back, they will have to get you your funds one way or another.


What is the average annual income in Pakistan?

Pakistanis earn $1513 a year on average Per capita income: A Pakistani now makes $1,513 a year - The Express Tribune

Well, most people here are poor so for them that is a lot of money, but for the upper-middle class, $1500 would be the average income per month. But I don't know how that relates to Escrow.com not trusting me.

 

[Jv1999]

Well, most people here are poor so for them that is a lot of money, but for the upper-middle class, $1500 would be the average income per month. But I don't know how that relates to Escrow.com not trusting me.

Yeah, I don't like that idea either. it's very racist. So because his domain sold for over his country's average income, he's suspect? Price should have nothing to do with it because escrow can see that buyer agreed... and paid.

LOL "ur coutnry iz 2 poor 4 u to sail domeen 4 this price :D"