Escrow.com : How to get paid and limiting the fees?

[italiandragon]

Hello, I never used Escrow.com , I need to receive a payment but there are a few options that would add fees.

First there is the choice Premier or Standard......I`m choosing Standard since it`s a domain sale. The amount is US $3,000

So the fee is:

STANDARD SERVICE: $97.50

PREMIER SERVICE: $189.00

Then, since the buyer is from Australia too, Escrow will charge an additional $25 :

Are international wire transfers charged any extra fees when sent to Escrow.com?



Yes, Escrow.com charges the escrow fee calculated on the fee calculator page and an additional $25.00 to cover intermediary bank fees. This fee will be correctly displayed on the transaction detail screen.

When sending a wire to Escrow.com from outside the United States, please note that the funds may pass through an intermediary bank. The intermediary banks charge a fee from the wire they process. This fee can vary from $10 to $40 US Dollars. By charging an additional $25.00 fee, Escrow.com absorbs the shortage in our escrow fee, therefore eliminating any delay in approving funds.

This additional $25.00 is added anytime a buyer selects the wire transfer option when they are located outside the United States, regardless of which party is paying the escrow fee.

Then, since I`m in Australia, Escrow will charge me again , unless I choose normal check in the mail:

WIRE TRANSFER: Processing Time:
Same or next business day upon transaction completion, plus processing by your financial institution:
Domestic - 1 business day, International - 5 business days.
Additional fee of $20 to banks within the U.S. or $40 outside the U.S.

PAPER CHECK / U.S. MAIL: Processing Time:
Same or next business day upon transaction completion, plus delivery time for U.S. Mail.

PAPER CHECK / OVERNIGHT DELIVERY : Processing Time:
Same or next business day upon transaction completion, plus 1 business day overnight delivery (International deliveries may take longer).
Additional processing fee: Domestic - $20, International - $30.


So, even if I choose the Standard transaction , On a $3,000 deal, it`s going to cost about:

$150 WHICH IS 5 % OF THE TRANSACTION.....IT`S A ROBBERY! :td:

Any alternative or advice?

Cheers

I had a look at Moniker and am waiting to know if their $125 cover international wire transfer fees.

But in the mean time I found something cheaper in Australia:

http://www.escrowaustralia.com.au/companyinfo.php

It seems reputable. Does anyone have experience with them?

Cheers

 

[italiandragon]

Get in touch with any bank in the US and ask them the requirements to open an account. You will know, simple as that.

Good idea, but if you are already totally sure that no US bank allows this then I`ll waste my time. :td:

Plus, I don`t even know which are the best banks over there.....for online banking of course.

 

[Name Trader]

I'm not so sure you cannot open an account if you're not American. Last year I thought I needed an American bank account and requested the application forms from my bank. The forms came from their International Banking Center in the US. I sat down to fill them out, but the forms were so complex, it gave me a headache and I just put it back on the shelf. They state the requirements for opening a personal account as...

1) Letter of reference from your current bank plus copy of 3 months bank statements
2) Application Form
3) International Personal Deposit Contract - Section C must be completed if you are a NON-US Person
4) Funds Transfer Authorization Card
5) Proof of Address
6) Primary & Secondary Identification
7) Initial Deposit

All documents to be certified "true copies of the original" by a Banker of theirs and All documents to be signed and stamped with a name and address of branch of their network.