Escrow.com problems

[elmoney]

We created a transaction for a domain transfer in escrow.com, they accepted my bank account confirmation, and after received and secured payment from a buyer, they sent me an email about didn’t support my country.
Why they didn’t inform me before? It's their fault. How will I receive and open bank account in another country? I have no way to go to another country for open an account to disburse escrow funds.
What do you advise?

 

[Bob Hawkes]

I just chatted with escrow
here's the reply
"We are not able to provide service to this state for banking restrictions and reputation"

that's odd and interesting at the same time

imo...

At NamesCon 2019 I did an interview with the CEO of Escrow.com and I recall he indicated that in US a separate agreement was needed with each state. My interview was primarily on other topics, and I did not make notes of this part, but I recalled at that time there were a few states they could not operate in. Appears now just Alabama.

Thanks for the link to Escrow.com countries and regions. I had not realized how many places they do not do transactions.

Bob

 

[Jurgen Wolf]

try to find something like borderless account, transferwise and payoneer has it.

They don't pay to Payoneer bank accounts, it was already stated by their representative in other threads.

 

[Jurgen Wolf]

do they offer PayPal withdrawal ?

No, as I know.

 

[Jurgen Wolf]

I recommend the following scheme:
Epik escrow for sales over $5K...
Sedo escrow in $1K-5K range...
Dan escrow for 3F sales.

 

[xynames]

I’d be interested to know if a borderless account from transferwise is accepted from outfits like escrow.com or PayPal. However I assume that you’d need to also claim a registration address in the same country where you claim to have a bank account if the financial institution’s policy doesn’t allow you to transact business from your country.

Also PP may flag your account if you give a registration address in one country and login from that country and then present a bank account from another country, or may flag you if your login IPs don’t match where you claim to be registered.

 

[BridgeFlows]

I’d be interested to know if a borderless account from transferwise is accepted from outfits like escrow.com or PayPal. However I assume that you’d need to also claim a registration address in the same country where you claim to have a bank account if the financial institution’s policy doesn’t allow you to transact business from your country.

Also PP may flag your account if you give a registration address in one country and login from that country and then present a bank account from another country, or may flag you if your login IPs don’t match where you claim to be registered.

I withdrew PP to my transferwise, both being business accounts; TW does not require you to have an address in the countries that provide accounts for the borderless. How ever it does matter where you are personally located, for example I live in Cyprus which is EU. I don't think that it would apply to countries of tier 3, as it would be way too much risk for them.

 

[xynames]

For PP though are you claiming to be in a country you are not though. Or, are you PP registered in Cyprus (where you in fact are) and then providing an EU transferwise bank account? Or specifically in which country is your transferwise bank account purporting to be in? Thanks.

 

[BridgeFlows]

For PP though are you claiming to be in a country you are not though. Are you PP registered in Cyprus and then providing an EU transferwise bank account? Or specifically in which country is the transferwise bank account purporting to be in? Thanks.

Yes I use Belgium account provided by TW. Paypal registered with Cyprus Company, residence also.

 

[Jurgen Wolf]

They don't pay to Payoneer bank accounts, it was already stated by their representative in other threads.

TransferWise is prohibited as well.
Confirmed here: https://www.namepros.com/threads/marketplace-with-paypal-payout.1118066/#post-7056540

 

[Jurgen Wolf]

I have no way to go to another country for open an account to disburse escrow funds.

You can register your company in Dubai or in another suitable offshore.
As alternative option.

 

[BridgeFlows]

TransferWise is prohibited as well.
Confirmed here: https://www.namepros.com/threads/marketplace-with-paypal-payout.1118066/#post-7056540

Well that's minus points for them I guess.. escrow.com is one of those companies that is not flexible.

Agree with the above post, that escrow.com should be used for large transactions, like 5 figures.

 

[Jurgen Wolf]

I closed my escrow.com account even before they banned Ukraine.
And moved all my 3F sales to Payoneer escrow (when it was alive) and then to Dan escrow.

Sedo escrow at 3% (and concierge for free) - was always my primary service for higher sales...
And all my buyers accepted it without any questions, was the only one Spanish buyer who said: GoDaddy ONLY.

 

[DanSanchez]

Happy to say the client will be moving forward with Epik Escrow.

 

[Samer]

Happy to say the client will be moving forward with Epik Escrow.

What relief. Great to hear!

Samer

 

[BridgeFlows]

great work team Epik, always nice to hear a happy-end like this!
when the deal is done would you share your domain name? @elmoney

 

[tonyk2000]

You can register your company in Dubai or in another suitable offshore.
As alternative option.

In this case, utility bill from Dubai (in Arabic), with translation, issued in the name of company and/or the director, may be also required in future. For paypal for example. May become mission impossible. Depends on an incorporation provider though...

 

[Jurgen Wolf]

I don't talk about PayPal.
Dubai company registration can be ordered online (Google it), and bank account is included there. 2in1 - in other words.
Regarding English - no any problems in Dubai with English.

 

[Jurgen Wolf]

I don't talk about PayPal.
Dubai company registration can be ordered online (Google it), and bank account is included there. 2in1 - in other words.
Regarding English - no any problems in Dubai with English.

@Shahid7

 

[Shahid7]

Hello,

I am not quite understanding what information do you need.

Do you want to know about company registration in Dubai?
Do you want to know about Paypal Usage in Dubai?

I have been using Paypal since long normally for Paypal you need identity Card/driving license or of the country you are residing in or Utility bill even if it is in Arabic it has written in English as well or your bank account which read your full name and address

Generally, when you register a company in Dubai the address is basically of the same place so the same will be shown in a bank account as well provided you get the bank account approved online.

should there be anything else you wish to know I will be glad to answer.

Thanks

 

[VENDOM]

Happy to say the client will be moving forward with Epik Escrow.

what is Epik's cc processor ? does it process all major countries ? I just had recently and issue: buyer was unable to pay via VISA country Singapure.

do you have a processor that do all countries, major eu and asia ? not only USA?