Escrow.com Is Now Asking For Photos of Personal Docs

[Cdomains]

Escrow/com Is Now Asking For Photos of Personal Documents.

I just logged in to Escrow/com and they are now asking for extensive verification including Photos or scans of ID's and other personal and business documents to be stored on their servers.

I have used them for years for all my transactions.

With all the hacks of servers happening around the world and security breaches exposing us to identity theft I have refused to give photos of my ID's and other documents to companies who request it.

I will not do business with Flippa for this reason.

I recently had my account frozen at a registrar that asked me for this and I refused.

Will you give photos of your personal ID's, bank records, etc to Escrow/com or will you use another service?

Personally, I think I am going to take my business somewhere else.

I am really disappointed about this after all these years.

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Related:

• New Escrow.com Account Verification Process

 

[Cdomains]

For Epik, I believe the domain has to be at Epik, and the buyer must accept it at Epik?

Not true.

I just finished with a situation where I had to find out a lot about how they work and the domain does not have to be regged at Epik.

 

[zlm]

I uploaded 3 times and got rejected !!

escrow need to understand not all countries use English language,

I provide them with ID + driver license + a paper from bank that I sent escrow money to purchase domain with my address + work address

and got rejected !!

 

[DomainMagnate]

the requirements are a bit ridiculous. It seems escrow.com is making it harder and slower for users to transact lately.

 

[TheLegendaryJP]

A little update...originally was dreading this but.

Last week I used escrow.com for the first time since the ID requirement came into play.

I had to have both my personal and business verified, I sent through what they requested (it was the evening time) and within 1 hour I received an email stating I was verified.

I was pleasantly surprised at how quick it was.

I then was impressed that within a day or so from the buyer verifying ownership of the name I was paid out.

I too have used them for over a decade and was unimpressed the last year+ with the new service but this has restored my faith.

 

[wwwweb]

Update... Just had a client who has used escrow.com in the past, and wanted to use it for this transaction back out of escrow, and is requesting another payment method


----->

''I have to apologize again. Apparently, Escrow.com wants my blood
samples in order to do this transaction.''

 

[netlas]

This entire process is absolutely ridiculous. I have never personally, or as a business, went through such a stringent process for anything in the past here in the US.

I will ask buyers to use a different Escrow service going forward. Absolutely ridiculous. Good way to mess up something simple and straightforward. Always overseas companies know how to make things a mess out of something that already works.

 

[DiogoP]

I created my account yesterday in Escrow.com and in fact I left it unverified..They ask to many things to verify it.. but maybe I need them in the future for some transaction..

The problem is if the buyer does not have Escrow.com account and doesn't want to lose his time sending everything they ask.. you can lose a sale..

 

[netlas]

This really won't help them solve the problem of fraud. Have they not heard of Photoshop? Do they not realize how easy it is for fraudsters to send fake documents? How hard is it to change the name on a utility bill? Very easy.

This entire verification process only penalizes valid users.

 

[wwwweb]

A little update...originally was dreading this but.

Last week I used escrow.com for the first time since the ID requirement came into play.

I had to have both my personal and business verified, I sent through what they requested (it was the evening time) and within 1 hour I received an email stating I was verified.

I was pleasantly surprised at how quick it was.

I then was impressed that within a day or so from the buyer verifying ownership of the name I was paid out.

I too have used them for over a decade and was unimpressed the last year+ with the new service but this has restored my faith.

The issue is not with verifying active sellers, it is one off buyers. In my past 2 transactions, this has been an issue.

The first transaction the person was a first time user, and just went with it, had some hiccups, became frustrated.

Second one was a prior user, only to login, and accept, to find out they wanted verification, we used another platform, and it closed quickly, as they were unwilling to send such documents in which they clearly stated if the company is hacked, it is them who will suffer.

I continue to see the same headaches moving forward, I cannot even suggest it as an option, in fear of losing the buyer now.

 

[yesterday]

I verified yesterday under pressure of the other party requesting bank transfer and TBH Escrow were really good.
They approved my mobile snaps of bills etc within a few minutes.
I'd rather they take too many precautions than too few given that there are so many fraudsters, yes, even on this site

 

[wwwweb]

I verified yesterday under pressure of the other party requesting bank transfer and TBH Escrow were really good.
They approved my mobile snaps of bills etc within a few minutes.
I'd rather they take too many precautions than too few given that there are so many fraudsters, yes, even on this site

I agree if you are an active domainer, and have your documents scanned, it is very easy to do so.

If you are one off buyer, attempting to purchase a sub $5K domain, you are skeptical, and unwilling.

 

[Cdomains]

I continue to see the same headaches moving forward, I cannot even suggest it as an option, in fear of losing the buyer now.

I feel the same way.

I have completely abandoned them, and I think many other domainers will do the same soon.

 

[Jurgen Wolf]

For me it was very easily to abandon them, because I never saw something interesting there... except BULK-mode (30 or more domains in a single transaction).

 

[DiogoP]

.... I continue to see the same headaches moving forward, I cannot even suggest it as an option, in fear of losing the buyer now.

@wwwweb That's the main problem, you can lose the buyer due to so many details they ask.. So may I ask which platform are you using now? Thanks

Looks like in only this post they already lost a few.. and I am not verified my account yet.. but with your opinions I don't know if I will do it

 

[Kate]

This entire verification process only penalizes valid users.

I think the real aim of KYC is to track money to (ultimately) tax it. But KYC is a business killer for sure, when you take it too far it's like being abused without KY.

 

[Jurgen Wolf]

So may I ask which platform are you using now?

As before: Sedo external escrow (3% or min. $60) - the most comfortable platform for the buyers.

 

[bmugford]

As before: Sedo external escrow (3% or min. $60) - the most comfortable platform for the buyers.

I have used it twice recently for a $3K and $5K sale.

The first transaction they accidentally opened in EUR instead of USD, then it took 2 days to correct it. It took another 2 days to accept the transfer after I initiated it.

The second transaction went much smoother.

I wish there was a way to automatically start the process instead of emailing them, and wish they were more responsive to keep the transaction moving along.

Brad

 

[pokainc]

I had several deals that I used Sedo & Payoneer as opposed to Escrow.com like before.. unless domain sales weren't a major part of their business, they're going to suffer significantly financially

 

[Jurgen Wolf]

You can select the payout currency instantly in Sedo panel, 2 days are not needed here.

 

[bmugford]

You can select the payout currency instantly in Sedo panel, 2 days are not needed here.

They created the transaction after I emailed them as a brokerage agreement.
There was nothing to change on my end. They cancelled the transaction and started over.

Brad

 

[Jurgen Wolf]

When transaction is initiated - the Seller has ability to select his payout currency for it (directly in panel): USD/EUR/GBP
I don't see any problems here.

 

[Jurgen Wolf]

Initial currency is for the Buyers only, to make the payment.

 

[bmugford]

When transaction is initiated - the Seller has ability to select his payout currency for it (directly in panel): USD/EUR/GBP
I don't see any problems here.

The transaction was supposed to be 3000 USD, they created it as 3000 EUR instead, meaning the buyer would have to pay more.

It has nothing to do with the payout.

Brad

 

[Jurgen Wolf]

I never had such cases, but thanks for the info.

 

[bmugford]

I never had such cases, but thanks for the info.

SEDO is not my ideal solution, but at this point I would trust not losing a sale with them more than Escrow.com. The burden of providing that paperwork for a one off sale I imagine would turn off a lot of buyers.

Brad