Payment Options

[Keral_Patel]

Hello,

I thought that we will start a thread discussing some payment options as recently there had been a lot of chaos around with people buying and selling domain names.

If someone who has experience in using other payment modes can post some useful tips on using them then I think others would benefit from it.

EX: Moneybookers, Escrow.com, Sedo Escrow etc.

Thanks.

MoneyBookers​

1) Allows Domain name transactions
2) Much safer on chargebacks
3) Allows you to spend the balance on the account
4) Internationally supported.
5) Fees is 1.9% Source: https://www.moneybookers.com/app/help.pl?s=fees
​

Sedo Escrow​

1) Allows Domain name transactions
2) Much safer on chargebacks
3) Does not allow you to spend the balance on the account
4) Supports wire transfer or credit card (CC only for transactions under $500).
5) Fees is 3% of the sales price [minimum $50] Source:http://www.sedo.com/services/prices.php3?tracked=&partnerid=&language=us
​

2co​

1) Domain sales allowed
2) Allows Chargebacks.
3) You cannot spend your balance. It is only one way. Incoming.
4) It's international.
5) 1 time set up fee of $49 and then 5.5% commission plus a $0.45 charge on each total sale.
​

clickbank.com​

1) Domain sales allowed
2) Allows chargebacks.
3) You cannot spend the on account balance.
4) Internationally supported.
5) You can bill clients up to a max amount of U.S.$100 (subject to their approval)
​

E-gold.com​

1) Domain sales allowed.
2) No chargebacks, all payments are final.
3) Can spend the on account balance for other purchases.
4) Internationally supported
5) 2 types of fees: Agio Fee (1% per annum) and Spend Fee (1% to 5%)
​

Xoom.com​

1) Domains allowed.
2) chargeback/cancel/refund are in the discretion of the seller
3) Money cannot be used because no money is saved online but goes straight to your bank or local xoom.com office.
4) International.
5) Fees according to https://www.xoom.com/fees
​

Information needed for Escrow.com, Afternic Escrow and Moniker Escrow

1) Does it allows transactions from domain names.
2) Do they chargeback.
3) Lets say I sell one domain for 1K get money in it and then spend that 1K in my balance on it to buy another name. Do they allow this? Or do they just send that 1K to bank and then again pull 1K from your bank for your another purchase.
[This 3rd option might be different from place to place. Because I don't think some escrow services will allow using the balance.]
4) Are NON-US countries supported.
5) How has been your over all experience with them

 

[smashfactory]

i thought i read with escrow.com, there is no chargeback to you if a scammer does that- is that true? escrow takes the hit if that happens?

 

[netklick]

I am interested in finding out too. I see a lot of references to Moneybookers. I would like to get your experiences around that too.

 

[sashas]

I'm using Moniker's Escrow currently. I'll say, I'm impressed by their procedure.

 

[Keral_Patel]

Someone who is using this. Please post your experiences with them. Also some points that one should consider while using this alternative payment options.

EX: Moneybookers.

1) Does moneybookers allows transactions from domain names.
2) Do they chargeback.
3) Lets say I sell one domain for 1K get money in moneybookers and then spend that 1K in my balance on moneybookers to buy another name. Do they allow this? Or do they just send that 1K to bank and then again pull 1K from your bank for your another purchase.
4) Are NON-US countries supported.
5) How has been your over all experience with them

Thanks.

 

[NameCharger]

I'm using Moniker's Escrow currently. I'll say, I'm impressed by their procedure.

Do they actually hold both domain & money in their trust account so Seller is not pushing directly to Buyer?

 

[sashas]

Do they actually hold both domain & money in their trust account so Seller is not pushing directly to Buyer?

yeah, you have to transfer the name to them. That works out very well because Moniker is also my (and many others') preferred registrar for good names (they include the transfer fees into the escrow fees).

The only downside is that it takes some time for the transfer if the name's not at Moniker. With Escrow.com, I've completed a transaction in one single day as you can simply push the name

 

[weblord]

1. yes they both allow buying/selling of domains and hosting
http://www.moneybookers.com/app/directory.pl?c=HOSTING&dl=ALL

2. all sales are final no chargebacks no refund, but

If the transfer is completed, Moneybookers cannot reverse the payment anymore. We recommend you contact the recipient directly and make arrangements for him to return the money to you.

https://www.moneybookers.com/app/faq.pl?gid=2&qid=205

3. yes, they allow you to spend your mb balance up to last amount.

4. Yes they are international.

5. great
they also have an escrow
http://www.moneybookers.com/app/faq.pl?gid=11

and auction
http://www.moneybookers.com/app/faq.pl?gid=10

and their fees are only 1.9%
https://www.moneybookers.com/app/help.pl?s=fees

Someone who is using this. Please post your experiences with them. Also some points that one should consider while using this alternative payment options.

EX: Moneybookers.

1) Does moneybookers allows transactions from domain names.
2) Do they chargeback.
3) Lets say I sell one domain for 1K get money in moneybookers and then spend that 1K in my balance on moneybookers to buy another name. Do they allow this? Or do they just send that 1K to bank and then again pull 1K from your bank for your another purchase.
4) Are NON-US countries supported.
5) How has been your over all experience with them

Thanks.

 

[hostingsearch]

Dynanot accept Moneybookers payment, so you can always spend your Moneybookers money there if you don't want to wait for your check.

 

[Keral_Patel]

Nice overview weblord. Sorry couldn't rep you. I says I need to spread some :o

Okay so lets put this same questions for other payment modes.

1) Does it allows transactions from domain names.
2) Do they chargeback.
3) Lets say I sell one domain for 1K get money in it and then spend that 1K in my balance on it to buy another name. Do they allow this? Or do they just send that 1K to bank and then again pull 1K from your bank for your another purchase.
[This 3rd option might be different from place to place. Because I don't think some escrow services will allow using the balance.]
4) Are NON-US countries supported.
5) How has been your over all experience with them

 

[dmi]

All I can do is recommend Moneybookers. They are great. I've been using them almost a year now and never had a problem.

 

[bbalegere]

Which payment system is best suited for Indian users?

 

[-REECE-]

Moneybookers does allow chargebacks... I know a few people who've had payments reversed on them. It's much, much safer (it's not easy to initiate a chargeback) than Paypal and I highly recommend them for smaller domain purchases (a few hundred dollars). Doing X,XXX transactions without escrow or wire is asking for trouble.

 

[Keral_Patel]

Thanks reece I updated the first post.

Now I am looking for someone to post some info on other payment systems like escrow.com, moniker escrow and sedo escrow.

 

[-REECE-]

No problem

I really like MB myself and have never had a problem with it... I just wish they had more reasonable rates for businesses to process credit cards (8% )!

Another thing to note: MB will not give you a very large credit card limit until you've established a relationship with them. Even then, your limit will be quite modest compared to what you're probably used to. My credit card limit is currently about $2000 (this is not a per transaction amount, this is how much I can spend via my credit card until they decide otherwise), yet my limit for funding via my bank account is over $40k.

Thanks reece I updated the first post.

Now I am looking for someone to post some info on other payment systems like escrow.com, moniker escrow and sedo escrow.

 

[Keral_Patel]

So as long as a seller is concerned. Can we count it as safe?

Some fees here and there will be there obviously but lets say a seller sells a domain name and then he buys another domain name with that existing funds in MB then will it be a good idea.

 

[-REECE-]

Yeah, MB is one of the safest non-escrow services for domain payments I've seen. Egold is also a good alternative to Paypal.

So as long as a seller is concerned. Can we count it as safe?

Some fees here and there will be there obviously but lets say a seller sells a domain name and then he buys another domain name with that existing funds in MB then will it be a good idea.

 

[Keral_Patel]

Thanks reece.

Now I will also go and collect some info on buyers and on some other ways to send and receive the funds securely. Not to mention NP$'s

 

[DNBro]

Please give a update about Moneybrokers.com

Is it work similar like Paypal or different?

http://www.moneybookers.com/app/faq.pl?gid=1&qid=106

 

[-REECE-]

Here's some good info on Moneybookers: http://en.wikipedia.org/wiki/Moneybookers

I've been using them for about 5 months now and am very satisfied. A few major drawbacks:

1. Funding your MB account by credit card will be considered a cash advance (my Visa charges a $10 fee for this and many cards charge comparable fees).

2. Very limited credit card funding. Five months of use and my limit is only ~ $2000.

3. More likely than Paypal to lock your account if money starts flowing in and you're not verified. Easily resolved by getting verified, however this can be a major inconvenience early on.

Please give a update about Moneybrokers.com

Is it work similar like Paypal or different?

http://www.moneybookers.com/app/faq.pl?gid=1&qid=106