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Escrow.com is taking way too long processing payments.

Located in Escrow Service Reviews started by imadoer, Jan 17, 2017.

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  1. imadoer

    imadoer Top Member PRO VIP

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    Escrow.com is really taking too long processing payments.The last few deals I have done have taking too long to process and approve payments. This can be nail biting when trying to complete a deal fast. As we know deals fall apart at times and the time frame by escrow can really ruin things. I'm not happy with the new escrow.com the old escrow.com got things done.
     
    Last edited: Jan 17, 2017
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  2. Billy Wagner

    Billy Wagner BillyW.com VIP

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    Have you reached out to them to see what the dealeo is?
     
  3. imadoer

    imadoer Top Member PRO VIP

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    it's not just one transaction it's every transaction
     
  4. creataweb

    creataweb Some Guy with Awesome Senior High School Photo VIP ★★★★★★★★★★

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  5. Keith

    Keith Top Member VIP ★★★★★★★★★★

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    I agree. They're taking up to 2 weeks to disburse secured funds.
     
  6. imadoer

    imadoer Top Member PRO VIP

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    not good for me I just sold something for next to nothing because I needed money right away. This sucks
     
  7. Keith

    Keith Top Member VIP ★★★★★★★★★★

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    They secured a wire last month. I had to call after 10 days to get funds. Now again they just secured a wire 2-3 days ago. Nothing so far...
     
  8. creataweb

    creataweb Some Guy with Awesome Senior High School Photo VIP ★★★★★★★★★★

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    Last year I had one that took almost 2 months to get paid. I am not using them anymore (and for the reason for all the IDs needed by buyer and seller which will kill many deals.)
     
  9. domainer111

    domainer111 Top Member VIP ★★★★★★★★★★

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    // not sure what's happening with them!
     
    Last edited: Jan 18, 2017
  10. imadoer

    imadoer Top Member PRO VIP

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    they used to do things efficiently and it worked! The service is not the same now
     
  11. Sinh

    Sinh Top Member VIP

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    Chat agent is not friendly sometimes at Escrow.com
     
  12. iAchilles

    iAchilles Top Member VIP

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    Disclaimer: I'm not stating Escrow are in trouble financially. I'd just like to point out that slow payments is rarely a positive sign. I've seen this a thousand times in many niches. They'd want to get their act together.

    I recently got transactions handled very fast with them, but I'm reading too many stories about delays, now ID is required. I won't be using them for any further transactions that I need closed fast.
     
    Last edited: Jan 18, 2017
  13. imadoer

    imadoer Top Member PRO VIP

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    You Make A Good Point This Is Very scary. I might not use them again either
     
  14. domainer111

    domainer111 Top Member VIP ★★★★★★★★★★

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    Hmmm escrow.com just asked me to mail them back a cheque they said they sent me! lol

    They said they would pay me an extra $5 lol This transaction has been going on for like five or six months now, including negotiating.

    *scratches head* *rolls eyes*
     
    Last edited: Jan 18, 2017
  15. Soofi

    Soofi DomainX™ PRO VIP ★★★★★★★★★★

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    lol what?
     
  16. Billy Wagner

    Billy Wagner BillyW.com VIP

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    Yeah, that's definitely not a good sign. lol
     
  17. Start

    Start Established Member

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    I wrote in the other threads about how I'm going to try to avoid Escrow.com in the future because of the excessive ID requirements.

    But to be fair, I have to say that I have found them just as fast in the past year as previously... after the buyer confirms they got the domain, Escrow.com sent out payments usually within a day, or sometimes 2 days.

    I just mention that to add a "datapoint" that they are fast at least in some cases.
     
    Last edited: Jan 18, 2017
  18. Soofi

    Soofi DomainX™ PRO VIP ★★★★★★★★★★

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  19. dollarfield

    dollarfield The Mean Domainer VIP

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    That is not surprising and expected after Escrow.com was acquired by Freelancer.com, which does not have impeccable reputation.
     
  20. Elon Swift

    Elon Swift Account Auto-Closed

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    Maybe After updating the site the servers got slow. None the less u can contact their support team
     
  21. imadoer

    imadoer Top Member PRO VIP

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    Support spins things anymore nothing is getting done in a timely fashion. We need things to be executed pomptly. The only that gets done fast is them getting paid buy us. @Jackson Elsegood we need better service from your company. A lot of us are loyal customers. We are starting to feel like we need to business else where. Please have a meeting with your staff and provide us better service.
     
    Last edited: Jan 18, 2017
  22. Kuffy

    Kuffy Name Stag VIP

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    Well there has got to be a reason for them to start using PayPal. This fits the PayPal pattern imho.
     
  23. iAchilles

    iAchilles Top Member VIP

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    You twisted my words.

    I have no clue if Escrow are having solvency issues and I made this abundantly clear. I pointed out that slow payments can in many cases be a red flag for solvency issues. Please edit the article, it's not fair on me or Escrow.com.

    I would have thought transaction funds must be ringfenced from operation costs as part of their license agreement.

    https://www.escrow.com/escrow-101/escrow-licenses

    They're audited on a yearly basis so if there's trouble on the horizon we'll know about it soon.

    http://www.dbo.ca.gov/Licensees/Escrow_Law/Requirements.asp

    Escrow have to realise that when service declines and payments begin to slow down, these are red flags from their customer's perspective. They need to address these matters urgently to avoid haemorrhaging business.

    Word spreads fast on the internet.
     
    Last edited: Jan 18, 2017
  24. Kuffy

    Kuffy Name Stag VIP

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    How can you ring fence a PayPal transaction, unless you use your own funds of course?
     
  25. deez007

    deez007 The More I Learn The Less I "Know" VIP

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    I'm rather keen to give Payoneer's Escrow service a try... haven't tried it yet but will definitely give them a try,
     

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