NameSilo

Payoneer Escrow to shut down. What are the alternatives?

Located in Escrow Service Reviews started by peace800, Jul 11, 2018.

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  1. peace800

    peace800 Established Member

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    As some of you will know Payoneer has announced that they will be closing their escrow business.

    Now what are the alternatives for domainers apart from escrow. com. Particularly for large transactions?
     
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  2. singhhooda

    singhhooda Established Member

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  3. karmaco

    karmaco Active Member VIP

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    I wasn’t able to use Payoneer because of my state but I am considering making a certain percentage of my transactions through NameSilo where many of my domains allready are. I don’t like to be forced to use Escrow dot com as I have allready had a negative experience with them but for big transactions I don’t see any other options right now. Don’t care to pay GoDaddy/Afternic for basically nothing. Another option is Undeveloped. Works for some here.
     
  4. creataweb

    creataweb Top Member VIP ★★★★★★★★★★

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  5. peace800

    peace800 Established Member

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    If you have your domain landing page at Efty can you still use epik, undeveloped, sedo to receive payment?

    So you would point your name servers to them before recievng payment? Wouldn't this put the buyer off as they will see you change the landing page?
     
  6. MS-Domains

    MS-Domains Established Member

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    Sedo's commission is at 10% long as its "buy now" & Undeveloped is at 9%.

    Haven't tried Undeveloped yet(have read positive reviews) & Sedo's service is reliable. 10% isn't so bad imo..
     
  7. Crysis

    Crysis Established Member

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    I don't think so. As far as I know, their commission is 15%. Sedo charges a fee of 15% of the gross selling price for the sale of a domain at a Buy Now or Make Offer price. Also, if the domain name is sold through SedoMLS, they charge a fee of 20%, based on the gross selling price.

    https://sedo.com/us/what-we-offer/price-list-for-services/
     
  8. MS-Domains

    MS-Domains Established Member

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    Well i'm sorry, this is what I was referring to:

    Thanks

    Edit: last time I sold a domain with them for $800, I parked it with them & set the bin mins prior to the transaction. They took 10%

    snap.JPG
     
    Last edited: Jul 11, 2018
  9. bsdomains

    bsdomains Upgraded Member Blue Account

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    As per my understanding if you get a sales through the parking page buynow the commison rate 10% otherwise 15%
     
  10. garptrader

    garptrader Top Member VIP ★★★★★★★★★★

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    EPIK offers an Escrow service though I have never used it. Their site states a 1.5% fee with a $75 minimum. If they mean a $75 minimum fee that would make low $XXX sales an expensive proposition for the seller ($75 fee on a $250 sale would be equivalent to a 30% commission -might as well use Godaddy).
     
  11. kamcreation

    kamcreation Upgraded Member Blue Account

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    @peace800 can you please share the source of this news?

    I think a hoax/ spam email floated a couple months back too. I am using both regular payoneer services and escrow too, didn't receive any official communication of this sorts till now.

    https://www.namepros.com/threads/payoneer-shutting-down-or-spam.1075615/


    @Brandon Abbey Can you please confirm if this news has any truth to it or it's some variant of that spam email surfacing again.
     
  12. Crysis

    Crysis Established Member

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    I don't it's a hoax. It has been shared by multiple sources.

    https://domaininvesting.com/payoneer-exiting-domain-escrow-business/
    https://www.thedomains.com/2018/07/10/payoneer-shutting-down-escrow-service/
    https://domainnamewire.com/2018/07/10/payoneer-exits-the-escrow-business/
     
    Last edited: Jul 11, 2018
  13. Josytal

    Josytal Established Member

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    Too sad. But there must be a wind-down period, one-two months, for example. They can't just close like that, abruptly. Uh?!
     
  14. thekiller

    thekiller Active Member VIP

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    Use the registrar's marketplace where the domains are registered.

    I have used Escrow/Payoneer/escrow, GoDaddy, Namesilo and Uniregistry.

    Escrow or Payoneer escrow were slow. GoDaddy were 7 days because I had domain with them. Namesilo was very quick because they allow domains which are registered with them and also commissions are only 7.25%.

    Uniregistry has one of the best service, though commissions are at 15%. Took not more than 7 days.
     
  15. kamcreation

    kamcreation Upgraded Member Blue Account

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    Unfortunately, it is indeed true they are existing from the Escrow service.

    Here is the reply from the Payoneer support team regarding the matter.

    ————————–
    Source
    https://www.thedomains.com/2018/07/10/payoneer-shutting-down-escrow-service/


    So it's indeed time to find alternatives to Payoneer I even used them to get the majority of payments from my clients (invoicing clients) looks like need to find some alternatives for that too.
     
    Last edited: Jul 11, 2018
  16. Doron Vermaat

    Doron Vermaat Email [email protected] for the fastest Efty support. Efty Staff PRO Gold Account VIP

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    I can also confirm that Payoneer is exiting the escrow business as I spoke on the phone with Matt Watts this morning, who is Payoneer's Head of enterprise strategy & business development. It's unfortunate because competition in the space drives innovation and it is good for everyone to have more choices. They will surely be missed.

    When you negotiate a price for a domain name after receiving an offer or inquiry through your Efty landing page you can transact anywhere you like after reaching an agreement with your buyer without the need to change the landing page. You can simply initiate the escrow at the provider of your choice (Epik, Undeveloped, Escrow.com or Sedo etc).

    For Buy-It-Now buttons on your for-sale landing pages, Efty will still offer Escrow.com, PayPal and Stripe integration after Payoneer Escrow discontinues their service.
     
  17. kamcreation

    kamcreation Upgraded Member Blue Account

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    Option 1 sucks (they make the buyers go through too many hoops), unfortunately options 2&3 are not available in my country.

    Any plans to add integrations with any other marketplaces or escrow providers ?

    If you haven't already got this request please add NameSilo integration to efty.
     
  18. Crysis

    Crysis Established Member

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  19. namelancer

    namelancer Established Member

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    Namesilo's own marketplace (with instant change of the ownership transactions)

    Above.com with their Trllian escrow service (requires transfer of a domain to them for the sale to be processed)
     
    Last edited: Jul 11, 2018
  20. Jurgen Wolf

    Jurgen Wolf Top Member VIP ★★★★★★★★★★

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    +5% for withdrawal.
    And +$40 if via international wire.
     
  21. Jurgen Wolf

    Jurgen Wolf Top Member VIP ★★★★★★★★★★

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    Sedo has its own escrow from the beginning (3% or min. $60).
    The only one minus - they don't support BULK sales.
     
  22. namelancer

    namelancer Established Member

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    When a domain is sold outside of Sedo, receiving a lead externally but using Sedo only to finalize the deal:

    ''Sedo has partnered with Escrow Domains to provide secure fund transfers through an independent law firm. With protection for both buyer and seller, transactions are only completed when both parties confirm that all of the terms of their escrow agreement have been met, and then the money is released to the seller.

    • Most Affordable Option
    • Transfer of domain ownership on your own terms
    • Ability to tailor the contract form for maximum customization
    • Fees as low as 0.89% of the domain purchase price''
     
    Last edited: Jul 11, 2018
  23. Crysis

    Crysis Established Member

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    I KNOW that. In addition to their own escrow, they have also partnered with Escrow.Domains. Both are different.
     
  24. Jurgen Wolf

    Jurgen Wolf Top Member VIP ★★★★★★★★★★

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    Look at international wire fee at escrow.domains
    Sedo fee is 15 EUR for SWIFT payout.
     
    Last edited: Jul 11, 2018
  25. Jurgen Wolf

    Jurgen Wolf Top Member VIP ★★★★★★★★★★

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    And per my understanding, escrow.domains is like escrow.com
    They do nothing... just receive and keep money... a few days/weeks of 0% loans while the seller and buyer are doing all work to transfer the domain.

    Sedo is TRUE escrow... you can push the domain into their account and that's all, finish.
     

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