Escrow.com last move

[kdbbdk1]

So escrow.com decided to stop supporting Payoneer, that's great.

They didn't even took the time to inform their customers. I just knew it by chance while chatting with their support.

Escrow.com I think that was a bad move.

 

[kdbbdk1]

Been on the phone with them right now, it's official, they don't support payment on Payoneer with ACH methods nor with transfer wise.

They pretty much stopped disbursing funds to VBA such as payoneer global or transferwise borderless account.

 

[golan]

Bummer. I couldnt find any payment out methods at their site now at all.

 

[kdbbdk1]

Time to check Sedo, I guess.

 

[Kate]

KYC strikes again ?

 

[kdbbdk1]

I really didn't have problem with sending them the verifiation documents as they asked (wouldn't probably do it now ) but the issue was that escrow decided to stop supporting Payoneer global payment along with other VBA accounts (transferwise) without any notice. They informed me that in the middle of a transaction.

 

[IMEZI]

I really didn't have problem with sending them the verifiation documents as they asked (wouldn't probably do it now ) but the issue was that escrow decided to stop supporting Payoneer global payment along with other VBA accounts (transferwise) without any notice. They informed me that in the middle of a transaction.

as @Kate said, Know Your Customer policy were binding for both buyer and seller

 

[kdbbdk1]

as @Kate said, Know Your Customer policy were binding for both buyer and seller

Hm, okay, but can you explain how this is related to my issue ? Does the KYC prevent them from working with Payoneer ?

 

[Kate]

Probably because VBAs are easy to obtain and do not require passing stringent ID checks.

Money laundering terrorism blah-blah

 

[kdbbdk1]

I see. But when I apploed for the us paymentbservice on Payoneer I did provide them with documents.

Anyway Im sure a lot will suffer from this since few people are using this combination.

Do you have some details about the Sedo escrow service?

 

[bee]

It's really bad news, this will cause cost increasing.
Escrow is so expensive that i want to give it up

 

[soidav]

no official statement from escrow.com banning Payoneer ?

 

[voiceofreason]

This is so obnoxious. I'm really stunned right now. And KYC allows for companies plenty of leeway to the extent they want to vet their customers. I'm verified to the max, but with Escrow.com I have lost a lot of real possible customers because the buyers don't want to give away so much personal info to Escrow.com
Payoneer was a great service to have and now that they're shutting down, this is a huge headache.
"Criteria for internal customer risk assessments are largely left open to interpretation." https://corpgov.law.harvard.edu/2016/02/07/fincen-know-your-customer-requirements/

 

[DNabc]

I'm really not liking where this is going to...

 

[soidav]

I'm really not liking where this is going to...

Indeed.

 

[SpareDomains]

Payoneer was a great service to have and now that they're shutting down, this is a huge headache.
"Criteria for internal customer risk assessments are largely left open to interpretation." https://corpgov.law.harvard.edu/2016/02/07/fincen-know-your-customer-requirements/

Agreed, not looking forward to having to take a selfie holding my id while petting my cat to make escrow.com happy. Plus I'd have to go buy a cat first.

 

[soidav]

I'm surprised to see such a big company as escrow.com using such a shady tactics.

So they silently ban Payoneer yet keep enjoying all the transactions fees flow.

Let me explain,

Buyer and Seller sets up transaction on Escrow.com, the buyers funds get secured, the seller pushes the domain and then he figures out he can't get paid since escrow.com decided to ban payoneer without any prior notification. Will they return the fees to the Buyer? I'm sure they are not.

Escrow should make an announcement letting it users know the Payoneer is now banned and yet restrict the option adding it to payout info.

 

[soidav]

up

 

[AbdulBasit.com]

Strange to see they stopped sending funds to Payoneer because I received around $7,000 just last month itself.

But they informed me in last few days that they've stopped sending funds to Payoneer.

Crazy things going over at Escrow.com

They should be professional enough to inform their customers.

 

[soidav]

Strange to see they stopped sending funds to Payoneer because I received around $7,000 just last month itself.

But they informed me in last few days that they've stopped sending funds to Payoneer.

Crazy things going over at Escrow.com

They should be professional enough to inform their customers.

https://www.namepros.com/threads/resolved.1088047/

Some people still getting paid by Payoneer, it's selective.

Some getting screwed, some not! Probably depends on the mood of escrow.com operator