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
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
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