If you are not using Epik.com for escrow, you are wasting time and money!

[Rob Monster]

Special Program for NamePros members only: Process your escrow transaction via Epik.com using bank transfer or major crypto, with a domain name registered at Epik.com and we'll waive the escrow fee completely! No escrow fee. No cashout fee. No kidding.

NamePros members are switching to Epik.com for Domain Name Escrow. Here's why:

- Lowest Fees: NamePros members pay no minimum fees. For domains registered at Epik.com, escrow is FREE when your buyer pays via bank transfer or major crypto. Otherwise, escrow is as low as 1.5%!

- Fast closing: Escrow transactions with domains registered at Epik, paid with major crypto or bank deposit can typically be closed within hours. We are open 24 hours a day, 7 days a week.

- Secure Transactions: Epik.com is the only full-service escrow agent that is also a full-service accredited registrar. Transfer in and out within minutes. If a transaction is cancelled, your domain is not in limbo-land!

- Flexible payment solutions: Pay or get paid via wire transfer, ACH, major crypto, credit card, PayPal, Transferwise or Western Union. We support all major currencies, domain swaps and scheduled payments.

There has never been a better time to move your domains to Epik.com and to choose our integrated solutions for domain marketplace and escrow services.

To get started on your escrow transaction, simply go here:

https://www.epik.com/services/escrow/

To discuss your portfolio or escrow transaction, contact us at [email protected], visit us Epik.com or phone us at +1.425-366-8810 or US toll-free at +1.888-894-9026.

This is a sponsored post.​

 

[wwwweb]

I tried to start a demo transaction to see how it works, assuming there would be some automated process, but that doesn't seem like the case.

So I have a few questions -

1.) How does the service work if the domain is not registered @ Epik? Let's say the domain is @ GoDaddy for instance.

2.) What methods can the buyer pay with aside from wire or crypto? Can they pay via CC or Paypal? If so what is the limit? What are the fees for each method?

3.) How are funds disbursed. Is it via MasterBucks?

On your website it says -

Can I exchange Masterbucks for cash?

Masterbucks can be redeemed from Masterbucks.com. Redemption to cash is subject to a 5% transaction fee."

Is that the case, or is there no fee?

Thanks,
Brad

I know Rob can answer in more detail, but I will try to answer whatever I can from my own experience.

So when your payment, and transfer is completed, best case scenario is when you know you have a willing buyer who is going to pay right away, move the domain into your Epik account, so the system can handle the exchange in an automated fashion via auto complete. Once that is done, your funds are placed in a masterbucks wallet for immediate use thru the Epik network for registration, transfers, or internal, external purchases via escrow. If you need the funds you can withdraw them thru all major methods, I think they waive any major fees for namepros members, just 9% on the transaction if marketplace listing, I think depending on the way escrow is funded they pretty much waive the fees there, they are releasing a new visual platfom soon I hear. Masterbucks can be paid out via ACH, Wire, Crypto, Paypal... from what I remember.

I mean I have used all the major services, the thing I look for is the auto complete feature, I hate the hand holding verification of transfer confirm release funds, I like the one, and done checkout, and payout. As I know you are an active buyer/seller the Epik platform will work as an asset in many situations when other options do not work, say if a buyer wants to fund via crypto, but you don’t want to accept crypto for payout etc... Also Epik specializes in getting some complicated transactions done for people from countries where getting this done sometimes requires a lot of hurdles. You should defiantly keep it in your sales eco system, there is no downside from what I have seen. Rob can probably explain it better, but from a user perspective, more payment, and payout options that I have seen from any other register, and you pretty much get instant support, more so for namepros members, as I believe Rob has cloned himself, and the guy does not sleep. I once submitted a ticket at 11pm at night, and he replied within minutes, and got the issue taken care of a few minutes later.

I myself just played around on the system, did some small sales to get familiar with it, I suggest you do the same to try out the options, it’s a good secondary system, if you have already have a primary system in place.

 

[Rob Monster]

I tried to start a demo transaction to see how it works, assuming there would be some automated process, but that doesn't seem like the case.

So I have a few questions -

1.) How does the service work if the domain is not registered @ Epik? Let's say the domain is @ GoDaddy for instance.

2.) What methods can the buyer pay with aside from wire or crypto? Can they pay via CC or Paypal? If so what is the limit? What are the fees for each method?

3.) How are funds disbursed. Is it via MasterBucks?

On your website it says -

Can I exchange Masterbucks for cash?

Masterbucks can be redeemed from Masterbucks.com. Redemption to cash is subject to a 5% transaction fee."

Is that the case, or is there no fee?

Thanks,
Brad

Had you used a real email address, you would have received automated next steps for starting your transaction, depending on your role:

- Buyer
- Seller
- Broker

And also depending on whether the asset being transacted is already at Epik or not.

Typically a human transaction manager will engage promptly to shepherd the process.

There is also a dashboard that is going live. The engineers decided not to put it live right before the holiday but it is apparently ready.

It was shared early in this thread but here is what it looks like:

To answer your questions:

1. Domains that are not at Epik are transferred to Epik. This is part of our transaction assurance process as a way to have confidence of clear title and to assure the buyer that the item will be delivered securely.

2. Buyer and sellers can transact in pretty much any established payment method, e.g. Wire, ACH, Cryptos, Credit card, PayPal, etc. We can also do Western Union and have even done cash.

3. Funds are deposited to Masterbucks or In Store Credit until the customer confirms their preference for disbursement. There is no disbursement fee for escrow or marketplace transactions.

Depending on the country, we can often pay out in minutes, especially if we know the seller's expectations at the outset.

Customers who choose to hold funds at Epik in anticipation of buying other domains may be eligible to earn interest on their balance of 6%. This is actually a new program being piloted in January 2020.

I do expect that the Epik escrow product and organization will continue to mature rapidly in the months ahead and will become increasingly integrated with a variety of upcoming initiatives.

 

[golan]

How does the service work if the domain is not registered @ Epik? Let's say the domain is @ GoDaddy for instance.

Just yesterday i sold Godaddy domain on Epik. Rob instructed me to make a push directly to the buyer. However if i was Epik i would probably use their escrow accounts at the registrars, as Dan and Afternic do.

 

[Rob Monster]

Just yesterday i sold Godaddy domain on Epik. Rob instructed me to make a push directly to the buyer. However if i was Epik i would probably use their escrow accounts at the registrars, as Dan and Afternic do.

That is definitely the exception to the model, but allowed as (1) new hand-reg, (2) low transaction value, (3) known seller, and (4) eligible jurisdiction.

On the other hand, we are working on 5 figure escrow transaction with an Indian buyer and Korean seller, where the seller is waiting 5 days for Godaddy to release a domain.

I am not sure what has changed at Godaddy but they are now routinely waiting 5 days to release domains. That is some serious nonsense there. Seems to be following in NetSol's footsteps. Call me underwhelmed.

 

[wwwweb]

That is definitely the exception to the model, but allowed as (1) new hand-reg, (2) low transaction value, (3) known seller, and (4) eligible jurisdiction.

On the other hand, we are working on 5 figure escrow transaction with an Indian buyer and Korean seller, where the seller is waiting 5 days for Godaddy to release a domain.

I am not sure what has changed at Godaddy but they are now routinely waiting 5 days to release domains. That is some serious nonsense there. Seems to be following in NetSol's footsteps. Call me underwhelmed.

Yes, godaddy is holding more valuable, and shorter domains for 5 days, there is really no point contacting transfer verify to express it out, because by the time they answer, ask you to verify, and respond you are at 5 days again. Otherwise transfer verify department used to contact within 24 hours, and respond within 24 hours to get it out in about 2 days, I guess now they are just overwhelmed, not sure, but it’s slowing down transfers for sure. The selection of the holds are pretty random, but 4L.com, and shorter are always 5 day hold, but when it comes to keywords, it’s really random how they decide what to hold, as you just never know. My guess they maybe leaning on the appraised value.

 

[Sutruk]

On the other hand, we are working on 5 figure escrow transaction with an Indian buyer and Korean seller, where the seller is waiting 5 days for Godaddy to release a domain.

I am not sure what has changed at Godaddy but they are now routinely waiting 5 days to release domains.

I have encountered feelings here, because here there's two sides of a coin.
When you sell a domain, you want to transfer it as soon as possible, so it's a good thing to speed up the transfer.
BUT, it is still a security measure, to wait 5 days for the domain transfer, after you get the email from Godaddy that your domain is going to be transferred.
You have 5 days to contact them, if this transfer is not legit... so its a good security measure.

 

[DanSanchez]

I have encountered feelings here, because this is a coin of two sides.
When you sell a domain, you want to transfer it as soon as possible, so it's a good think to speed up the transfer.
BUT, it is still a security measure, to wait 5 days for the domain transfer, after you get the email from Godaddy that your domain is going to be transferred.
You have 5 days to contact them, if this transfer is not legit... so its a good security measure.

I disagree, the transfer would likely go unnoticed anyway because they send notifications to the registered email on the domain itself.

A good security measure would be to force push recipients to change the email for each domain. I still get notices from domains I sold years ago. But I suspect this is done purposely to increase the number of domains that are lost to expiration. Had a big thread here about it in 2018 and nothing has changed.

 

[tonyk2000]

@Rob Monster - any chance for Epik to start using another term, not escrow? I completely agree with you as to its dictionary meaning. I also think that realtor is a dictionary term, but in our reality domainers should avoid registering domains with this term. Due to various and important reasons, Sedo and Afternic are using transaction assurance term, and Uni is speaking about secure simultaneous exchange or something... A change would be really safer for us the customers. And for Epik...

 

[Sutruk]

I disagree, the transfer would likely go unnoticed anyway because they send notifications to the registered email on the domain itself.

The registered email should be the owner's email.
In a domain push, all the data should change to the receiver's data. I don't understand the option at Godaddy to keep the sender's data.

 

[Sutruk]

A good security measure would be to force push recipients to change the email for each domain. I still get notices from domains I sold years ago.

Yes. I think that a domain push at Godaddy should always take the new recipient data.

 

[Rob Monster]

@Rob Monster - any chance for Epik to start using another term, not escrow? I completely agree with you as to its dictionary meaning. I also think that realtor is a dictionary term, but in our reality domainers should avoid registering domains with this term. Due to various and important reasons, Sedo and Afternic are using transaction assurance term, and Uni is speaking about secure simultaneous exchange or something... A change would be really safer for us the customers. And for Epik...

As you can see, Epik is federating into a constellation of brands. The new Epik escrow dashboard will already reside on a unique subdomain and utilize the unified secure Single-Sign-On protocol that we are deploying. So, it is a natural to migrate the escrow service to a stand-alone brand.

Looking a bit further ahead, the leaning is towards using a unified corporate/retail brand that is catering to retail customers -- imagine if Escrow.com and MarkMonitor had a baby. We have identified a high potential brand option for the project and are working through some procedural details. The tech is 99% done.

 

[Anna_M]

That is definitely the exception to the model, but allowed as (1) new hand-reg, (2) low transaction value, (3) known seller, and (4) eligible jurisdiction.

I am not sure what has changed at Godaddy but they are now routinely waiting 5 days to release domains. That is some serious nonsense there. Seems to be following in NetSol's footsteps. Call me underwhelmed.

Experiencing this with Dynadot right now, already few days the transfer to Epik is pending with not even acceptance email sent to me to accept the transfer. Says enough about the registrar's state of affairs to me.

 

[Mister Funsky]

- Lowest Fees: NamePros members pay no minimum fees. For domains registered at Epik.com, escrow is FREE when your buyer pays via bank transfer or major crypto. Otherwise, escrow is as low as 1.5%!

Came here from the other thread...I remember when this post was first made...almost a year but seems like yesterday! (part of that pesky getting older and time relativity thing)

So, if I understand correctly, CC payments (or types of payments other than bank transfer or crypto) will have a percentage deduction commensurate with the charges related to that type of funding?

 

[Rob Monster]

Came here from the other thread...I remember when this post was first made...almost a year but seems like yesterday! (part of that pesky getting older and time relativity thing)

So, if I understand correctly, CC payments (or types of payments other than bank transfer or crypto) will have a percentage deduction commensurate with the charges related to that type of funding?

For NP members, it is free where (1) domain is at Epik, and (2) buyer funds with wire or BTC, and (3) buyer and/or seller is a NP member.

For other cases, just request a quote:

https://www.epik.com/services/escrow/

It will be cheaper than what anyone is paying elsewhere, and we waive minimum fees for NP members.

In short, NP members just get a great deal. It is as simple as that. You can ask anyone who used it. There are a few testimonials in this thread.

 

[Mister Funsky]

For NP members, it is free where (1) domain is at Epik, and (2) buyer funds with wire or BTC, and (3) buyer and/or seller is a NP member.

For other cases, just request a quote:

https://www.epik.com/services/escrow/

It will be cheaper than what anyone is paying elsewhere, and we waive minimum fees for NP members.

In short, NP members just get a great deal. It is as simple as that. You can ask anyone who used it. There are a few testimonials in this thread.

Ok, I have it now...thanks. I will check the quote link out or may call in the near future if/when the trigger is pulled. Currently in negotiations with someone that, if the deal is made, will use a corporate credit card to pay.

 

[manpreet]

>> If you are not using Epik.com for escrow, you are wasting time and money!

I would agree with that statement as well, kudos to Rob and his team.

 

[wallet2it]

My experience is above average.

User interface is a little confusing but support is very helpful and responsive. Ron himself does all the escrow work ....payment is fast within hours of moving the domain to epik.....I would say 9/10 experience ....

 

[Rob Monster]

My experience is above average.

User interface is a little confusing but support is very helpful and responsive. Ron himself does all the escrow work ....payment is fast within hours of moving the domain to epik.....I would say 9/10 experience ....

Thanks.

Actually, the software does most of the work but I like to know our customers so if I am available, I will engage.

As for the software, the new escrow dashboard coming online this month should help a ton, especially for customers who are coming in for just escrow.

@Sumeeth is helping with software QA and usability. I will ask him to get in touch for your critique so we can close that gap from 9/10 to 10/10.

 

[Samer]

The registered email should be the owner's email.
In a domain push, all the data should change to the receiver's data. I don't understand the option at Godaddy to keep the sender's data.

to bypass GD 60 day lock, after push.. keep info same, both disable 60 lock.

Keep same, only way leave GD in 60 days, after inbound

Samer

 

[Sumeeth]

Thanks.

Actually, the software does most of the work but I like to know our customers so if I am available, I will engage.

As for the software, the new escrow dashboard coming online this month should help a ton, especially for customers who are coming in for just escrow.

@Sumeeth is helping with software QA and usability. I will ask him to get in touch for your critique so we can close that gap from 9/10 to 10/10.

@wallet2it , we're glad to hear that you are happy with Epik services and rated 9/10 but still we want to make even better for our epik customers through continuous improvements. Currently, we are in the process of identifying the pain points of our customers & working on the improvements in terms of user interface & Usability to make life easier for both new users and existing users. We are open to listen your feedback.

Coming to epik.com domain management, We highly recommend to use Epik Dashboard page - https://east.epik.com/domain/dashboard where you get almost all quick links or buttons which helps you to go to different pages by single click.

Also we have online knowledge base available online at https://www.epik.com/support/knowledgebase/ and 24x7 online support to resolve most of the queries in no time.

Happy to know more from our valuable epik customers to make our software better & easier to use. Our Goal is to make it easier for users who comes Epik first time also should be able to use our software in ease.

So please DM me or Rob, or any Epik staff if you have any suggestions or improvements and we are always here to listen you and do the best for you.

Thanks,
Sumeeth

 

[Charley]

3. Funds are deposited to Masterbucks or In Store Credit until the customer confirms their preference for disbursement. There is no disbursement fee for escrow or marketplace transactions.

Does this mean I cannot receive the funds in btc?

 

[DanSanchez]

Does this mean I cannot receive the funds in btc?

You can, once the funds are in Masterbucks/Store Credit, the disbursement can happen however you want to receive it. Including BTC.

 

[Rob Monster]

Some product news on Epik Escrow.

In your Epik control panel, you will now find a quick link to the brand new and very slick Epik Escrow Dashboard.

You can start a transaction right from the dashboard and track the progress in realtime from start to finish. Many of the steps are being automated so that we can maximally streamline each step.

The dashboard has an intuitive setup wizard:

Depending on your role, the dialog changes:

It supports multiple products, multiple currencies.

It then tracks the transaction through the lifecycle:

Right now the longest lag times are domain transfers from dinosaur registrars who wait 5 days to finish transfers. The easy solution is to just hold domains at Epik. That way, escrow can be closed in minutes.

 

[Rob Monster]

Does this mean I cannot receive the funds in btc?

If we have BTC on hand, we distribute it at the Coinmarketcap rate.

If we don't have enough BTC on hand, we buy it from trusted brokers.

In early 2020, you will also have the option of holding BTC directly in your Masterbucks wallet.

 

[NetPark]

Some product news on Epik Escrow.

In your Epik control panel, you will now find a quick link to the brand new and very slick Epik Escrow Dashboard.

Show attachment 141035

You can start a transaction right from the dashboard and track the progress in realtime from start to finish. Many of the steps are being automated so that we can maximally streamline each step.

The dashboard has an intuitive setup wizard:

Show attachment 141036

Depending on your role, the dialog changes:

Show attachment 141037

It supports multiple products, multiple currencies.

It then tracks the transaction through the lifecycle:

Show attachment 141039


Right now the longest lag times are domain transfers from dinosaur registrars who wait 5 days to finish transfers. The easy solution is to just hold domains at Epik. That way, escrow can be closed in minutes.

This Escrow platform looks very successful and useful. But I think priority of your improvements must be CMR platform for contacting buyers, accepting and countering offers direct from Epik dashboard. Replying customers' inquiries through personal email addresses sometimes is not a best way. Also, current Epik marketplace dashboard sometimes do not show new inquiries or show after a long time.

Only the reason I do not use Epik landers is the absence of that CMR panel. I would like to move all my domains to Epik and use Epik landers - one of the bests on the industry. Because selling domains on the marketplace which has own registrar is the clever and best option for domainers in terms of dealing transactions quick and safely. Especially, on the marketplace which is managed by the honest and helpful person as Rob and other great staff we know from this forum. I hope you will complete that platform and some other little improvements on the Marketplace as soon as possible.