Moniker Escrow or Escrow.com

[Malaysia]

Due to so many paypal chargebacks nowadays aiming towards LLLL.coms sellers in majority.. i figure i shud use escrow service instead to protect my domains.However all this while i have been dealing wif paypal ( luckily so far nothing bad has happen) so i dunno how is the escrow process..

I heard moniker escrow is better than escrow.com but i have few questions.i tried calling escrow.com but i cant get hold of any customer representative but the machine only.as for moniker escrow there is only a toll free number to call and i am from malaysia.

Hope u can help out wif few of my questions
1) Is moniker escrow better or escrow.com better?or any better escrow service?
2) How long does it takes for a transaction to complete?
3) How do they pay me? wire transfer? paypal? any charges?
4) If the buyer pays moniker wif paypal n later do a chargeback on escrow but i have oredi transferred the domain , can i get the domain back?
5) are there any risk?

Your help is very much appreciated~

 

[David at NameMedia]

Would you be able to process a 3 party transaction ? I mean seller, buyer & broker involved in a transaction.

Absolutely. In that specific case, I'd recommend that you simply place the broker's name as the buyer in the transaction. This happens quite frequently (on both the buyer and seller side) during the escrow process.

If there is anything additional we can assist with, please let us know.

Thanks.

Dave

 

[Charley]

Absolutely. In that specific case, I'd recommend that you simply place the broker's name as the buyer in the transaction. This happens quite frequently (on both the buyer and seller side) during the escrow process.

If there is anything additional we can assist with, please let us know.

Thanks.

Dave

Right, that's nice.

How would the money be transferred to the broker first and then to the seller ?

 

[smashfactory]

if using your escrow only- the fee is 3% of the sale, correct? and if the seller wants to be paid via paypal, you add an additional 4% on top of that for 7%?

Hello everyone,

A couple folks mentioned Afternic's escrow process. Wanted to provide you all more information with regards to Afternic escrow. Hope this helps!

http://www.afternic.com/buy.php?p=4

Afternic's DNescrow™ service guarantees the transaction for both parties. The buyer will receive the domain and the seller will receive the payment. If the transaction does not complete for any reason, the buyer will receive a full refund and the seller will keep the domain.

We back this guarantee in several ways. First, we have documented our guarantee in our Membership Agreement. Second, we follow a rigorous escrow process. Every escrow payment is deposited into a special account, for example. Third, we maintain membership in the Better Business Bureau and the BBB Online Reliability Program (click the seal on our home page) to substantiate our commitment to customer satisfaction.

There are eight steps in our escrow process:


Seller selects the disbursement method and confirms the sale agreement.
Buyer selects the payment method, confirms the purchase agreement, and sends the payment to Afternic.
Buyer submits the new registration information for the domain. (This information is hidden from the seller until the payment is approved.)
The exchange receives the payment.
The exchange approves the payment and authorizes the domain name transfer. This step is completed immediately after step 3 for guaranteed payments (money orders, cashier checks, and wire transfers). Otherwise, it is completed after the payment clears.
Seller transfers the ownership of the domain to the buyer at the current registrar. The seller pays any registrant transfer fees directly to the registrar.
Buyer changes the password on the account at the registrar and confirms to the exchange that the transfer is complete.
The exchange sends the net proceeds to the seller.
We currently offer the following methods for buyers to pay for a domain name: Any kind of check (business, personal, US, non-US), money order, or wire transfer (US or non-US).

Wire transfers, cashier checks, and money orders do not require a holding period; the seller will be authorized to transfer the domain as soon as we receive the payment. On the other hand, Checks and eChecks must clear before we authorize the transfer.

Although we do accept credit cards for membership fees and other services, we cannot accept credit cards for domain name purchases. (Credit card payments can be reversed by the payer long after the exchange has disbursed funds to the seller. Because our service guarantees payments to sellers, we cannot accept payments by credit card.)

 

[doggyowner]

I prefer Moniker Escrow as a seller, they transfer funds to Paypal accounts.

 

[Charley]

I prefer Moniker Escrow as a seller, they transfer funds to Paypal accounts.

Are the fees lesser than Escrow.com ?

 

[rodash]

The big problem I have with Escrow.com is they are not geared to buyers outside the US and the financial transactions become messy.

You have to send them money via wire transfer, and you have to guess how much you will need to provide to cover the transaction plus all fees (including allowing for exchange rate and bank fees), and then, if you've sent too much, they send you the excess amount by cheque. That foreign cheque then costs an exorbitant amount to cash, so there usually isn't much left of what was left over. Does that make sense?

For overseas people, I'd say it's better to use an escrow service that deals with PayPal. I know PayPal is greedy and it's rates ate high, but it's much simpler.

..

 

[doggyowner]

Are the fees lesser than Escrow.com ?

I wouldn't know to be honest as I haven't used Escrow, yet. No fees if the buyer cover transfer fees . As mentioned here by Rodash, Escrow seem to be geared towards the US and Paypal is not an option when using their services. Anyhow, certain there are heaps of other people here with more experience...

 

[Sull]

I used Moniker's escrow service the other day and it went as smooth as it could have. It took 2 days to complete the transaction, with the buyer wiring the funds to the escrow. Granted, I had the name reg'd on Moniker so there was no transfer of domain name (they put it right into their escrow account)...but I couldn't be happier with this transaction. Plus, it only cost me $200...not bad :imho:

 

[goodkarmaco]

Sully,

congrats on sale, $200 was your cost.. you must have sold it for a good amount.

 

[Sull]

Thanks much! ...not bad for my first sale :imho:

 

[MaticK]

I have a buyer for my domain, price around 10.000eu, listed on Sedo. But I'm really thinking of using another escrow service, since Sedo takes 10%, so that's 1.000eu (!!). Both me and the buyer are from EU, I've heard escrow.com is not that good when the sale is not in US. Any recommendations?

Thx

 

[Charley]

I have a buyer for my domain, price around 10.000eu, listed on Sedo.

Moniker Escrow is good, but I'd recommend Escrow.com, they have excellent support and low fees.

 

[Malaysia]

well so far i tried escrow.com only
its a small ammount buyer paid $25 usd for fees so its pretty low.
but coz i want it to be wired transferred to me it cost mr $40.
i think if i used moniker escrow i wud have gotten more.

 

[Charley]

i think if i used moniker escrow i wud have gotten more.

Yes, I think should be expensive for a wire transfer with Moniker.