Payoneer

Escrow.com Is Now Asking For Photos of Personal Docs

Discussion in 'Domain Industry News' started by Cdomains, Jan 4, 2017.

Replies:
284
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8,509

?

Will You Give Escrow.com Photos of Your ID's And Other Docs?

  1. Yes

    45 vote(s)
    27.1%
  2. No

    95 vote(s)
    57.2%
  3. Not Sure Yet

    26 vote(s)
    15.7%
  1. Cdomains

    Cdomains Active Member VIP

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    I had this happen at a registrar recently when I bought domains and I refused to upload these scans to their server.

    Pretty sure I have lost the domains.

    Flippa will ask you to send a picture of yourself holding your ID next to your face.

    Opened and account with them years ago but have never used it because of this.

    No.
     
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  2. ben pedri

    ben pedri Active Member VIP

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    I am gonna contact my friend who is a senior vp at paypal ,and see if they can suggest an escrow program pertaining to domain names ,they may already be working on this ,maybe that's wh the stock looks like its gonna really break to the upside. Based on the transaction numbers on escrows checks it dosent look like they do too much business anyway. but a lot of their payments might go through bank wires
     
  3. alcy

    alcy Active Member VIP

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    i hear gd uses escrowcom for >5k deals
    so let's hope this has no effect on gd auction sales
     
  4. bmugford

    bmugford www.DataCube.com PRO VIP

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    I am in the US, so that is not the case.

    Brad
     
  5. ben pedri

    ben pedri Active Member VIP

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    my afternic guy said they use them too which makes no sense to me godaddy can buy and sell them 10 times over not only that godaddy has holding accounts at a bunch of registras ,so they can sit on the name till every thing is Cool with funds and all ,screw escrow, no will have any problem hacking that system. And most of the reps seem a little stu-nad
     
  6. the dot stop

    the dot stop Business Account Business Account VIP Trusted Contest Holder

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    I really like Escrow.com and don't want to rip them at all since they have always been good to me and all of my transactions. Like I said, they have all of my info already so ID is no new info for me as a seller to send them.

    The main new potential problem here is, Do they absolutely make the buyer send in a copy of their license/ID in order to complete the transaction? Is this a definite new rule change?
     
  7. Adam27

    Adam27 Blockchain.link for Sale Business Account VIP

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  8. JImmyM

    JImmyM DNBrokers.net Business Account

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    Just been told by support that indeed all users of Escrow.com will undergo verification by sending the required documents.
     
  9. the dot stop

    the dot stop Business Account Business Account VIP Trusted Contest Holder

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    "All users" So, that means one time buyers too then.
    Well that kinda sucks.
     
    Last edited: Jan 4, 2017
  10. JImmyM

    JImmyM DNBrokers.net Business Account

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    Yes. Although I am not too sure it is a bad thing. It seems like another level of security for both parties. I know if I was about to pay a large amount of money for a domain name, I would be happier knowing that the seller was verified. But, it is another hoop to jump through.

    The biggest potential problem is a checking backlog leading to major transaction delays.
     
    Last edited: Jan 4, 2017
  11. alcy

    alcy Active Member VIP

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    if possible, I'd like to hear whether gd auction sales will in any way be affected by this escrow.com move please.. @Joe Styler ... thanks.
     
  12. the dot stop

    the dot stop Business Account Business Account VIP Trusted Contest Holder

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    I do agree in a lot of cases. But how many domains are impulse buys? I believe a lot are. I still think there will be some percentage of transactions that will not go thru because of this additional "hoop" to jump thru.
     
    Last edited: Jan 4, 2017
  13. JImmyM

    JImmyM DNBrokers.net Business Account

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    That's a great point. It allows at least a 24 hour (verification check) cool-off period and in some cases much longer due to the buyer having to get the required docs together.
     
  14. ben pedri

    ben pedri Active Member VIP

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    ok I'm picking up 400 shares of paypal tomarrow ,based on the way the technicals look and
    Go daddy sales will probably go up because now sellers will just sell through them and raise the price a bit to compensate a little for the 20 % fee
     
  15. whatrudwnfor

    whatrudwnfor Established Member

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    ***Down below is my entire conversation with Escrow.com***


    Drew: Hi!

    Drew: How may I help?

    →Hello Drew, I have a question. I just read that Escrow is asking for personal documents such as Tax ID an or photo ID

    Drew: Yes, we do. This has been in placed for the security and compliance purposes.

    Drew: To know more, please see link https://www.escrow.com/verify?

    →Can you give me an Example please? Because I've used Escrow for years. Never heard about this till today

    →Is this something new?

    Drew: No, actually it is not. This has been encouraged to users to undergo this process.

    →So are you saying is optional?

    →I'm a domainer, and this is being discussed on one of the forums. Many are not going to be using your services because of this.

    →Thus the reason why I'm asking the questions.

    Drew: Actually, the verification is compulsary.

    Drew: compulsory*

    →What does that mean?

    Drew: It means, eventually, all users will be asked to undergo verification.

    →Some are saying they have notices when they have logged in. I just logged in and did not see any notice pop up.

    →Is this because I reside in the United States?

    Drew: No, not exactly. As mentioned, every user will undergo verification.

    →Well, there is some concern in regards of private information in the hands of companies such as Escrow.com

    →You always hear servers being hacked.

    →Well, After many years with Escrow.com, I'm sorry to say I will be looking for other options.

    →Thank you for your time!

    Drew: We understand. Do note that verification process has been put in placed to safeguard our users and their transaction. Documents are uploaded via a secure https connection and are stored encrypted

    Drew: You are welcome. Do you need further assistance?

    →No.
     
  16. ben pedri

    ben pedri Active Member VIP

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    ooh encrypted ,sounds so safe
     
  17. johname

    johname Top Member VIP

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    If it is only on the seller side I dont have a problem with it. If it's on the buyer side I have a huge problem with it. My guess is the fact that the buyer have a credit card or some other banking proof by the fact that money is sent to Escrow. But what do they have on the seller? An email address and a whois.

    If you are selling Baseball.com for a song, the buyer will do anything to purchase that domain. But with other domains it can just be a hassle a buyer would rather avoid.



    https://www.namepros.com/threads/new-escrow-com-account-verification-process.993444/
     
    Last edited: Jan 5, 2017
  18. stellarname

    stellarname Established Member

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    Earlier today I chatted with one of your reps and asked them if the new procedure is a policy initiated by Escrow.com or if it's something that's being enforced. The reply was that it's a policy initiated by Escrow.com and that security is important to you etc. So- will all escrow services now require this verification process, which complicates transactions both for buyers and sellers since it involves extremely sensitive information and a bureaucratic process that didn't exist before? Because based on the answer your rep gave, it seems like it's something Escrow.com initiated.

     
    Last edited: Jan 5, 2017
  19. mad409

    mad409 Always thinking outside the box! Business Account VIP

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    @Jackson Elsegood

    Can you confirm if this is needed on all accounts or just when using the banking system. It says nothing about receiving a check from a buyer, or if a buyer pays with a Credit Card.

    So in short the verification process says bank accounts therefore is that it??
     
    Last edited: Jan 5, 2017
  20. Jackson Elsegood

    Jackson Elsegood Escrow.com Escrow.com Staff VIP

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    We're apply this process to all accounts, that way no matter who you transact with on Escrow.com you will know that they have been verified.
     
  21. Addison

    Addison Established Member

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    @Jackson Elsegood, is verification required immediately or is there a grace period before it'll prevent us from using Escrow.com as usual?
     
  22. ben pedri

    ben pedri Active Member VIP

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    I will take the other side of that ,the buyer can use funds that can be hidden for a long time from the cardholder, or whoever ,the seller has to produce the domain ,and if he does not the registra can just take it from him if he received funds, remember no one gets the domain gift wrapped ,its just sitting in a computer as verisign, in any case the scammer can just go bye bye ,when the cardholder wants his money,''he may leave empty handed but with a lot of hurt to others''. back escrow loses ,I hope this makes sense because I'm rambling
     
  23. usernamex

    usernamex I used your clarinet to unclog my (de)toilet. VIP

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    Very happy I learned of all this before ever actually having to use their service. I only signed up for escrow a few months ago and what I liked was the ability to create an instant BUY NOW button. When I started to see all the repeat complaints here, I pulled all my buttons and went back to manual contact. Which is a shame since I think if a buyer clicks buy now and is taken to a payment page, they know they won't have to negotiate or even ever talk to the seller and it's a firm offer..

    Out of the alternative options mentioned in this thread, does any other service have this BUY NOW function, to be put on my own lander? Or something similar?
     
  24. mad409

    mad409 Always thinking outside the box! Business Account VIP

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    Just uploaded mine, says 24 hours to approve.
     
  25. johname

    johname Top Member VIP

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    But will your customers do the same?
     

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