Payoneer Escrow to shut down. What are the alternatives?

[peace800]

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?

 

[DN Playbook]

Just had completed a transaction via Escrow.com. Mauli was very helpful and all went smoothly. Funds where transferred in under 36 hours (to an account in Canada). At Domain Market Pro, we will work to ensure all transactions go through smoothly. We offer both Escrow.com and Escrow.Domains for escrow options, in addition to wire transfer and PayPal.

 

[creataweb]

Getting help from Mauli and Jackson makes a massive difference imo.

 

[soidav]

Since escrow.com going downhill really fast, I'd give a try to escrowdomains.com

1.Their fees are lowest on the market.
2. They offer wide range of payout options (including crypto)
3. They are US based law firm
4. They seems to be a good people and I never heard anything negative about them.

 

[FairTrial]

Since escrow.com going downhill really fast, I'd give a try to escrowdomains.com

1.Their fees are lowest on the market.
....

May I point out that this might possibly certainly NOT be accurate.

 

[soidav]

May I point out that this might possibly certainly NOT be accurate.

What exactly seems to be inaccurate?

Please elaborate

 

[FairTrial]

What exactly seems to be inaccurate?

Please elaborate

Transaction Amount: $3,000
------------------------------------
Transpact.com total fee: $47.30 (includes final wire fee to seller's intentional bank account !)
EscrowDomain Fee: $98.50 (Payment via PayPal)

Transaction Amount: $30,000
------------------------------------
Transpact.com total fee: $79.14 (includes final wire fee to seller's intentional bank account)
EscrowDomain Fee: $299.00 (includes final wire fee to seller's intentional bank account)

Transpact.com is over 50% lower cost in the first example, and 73% lower cost in the second example.

Is that accurate and precise enough for you [I only brought these examples because they were demanded by soidav].

 

[xynames]

escrow.com works fine As to whether there are other places with lower fees, do they work as well as escrow.com ? Once you get to the point of a negotiated agreed purchase what matters most is efficiency. At the level of sales I do, the buyer is not going to walk over a few bucks in fees.

 

[FairTrial]

escrow.com works fine As to whether there are other places with lower fees, do they work as well as escrow.com ? Once you get to the point of a negotiated agreed purchase what matters most is efficiency. At the level of sales I do, the buyer is not going to walk over a few bucks in fees.

Agreed - although I would claim that Transpact.com as well as being proven efficient (due to the large volume of domain transactions it handles), is also the most secure domain escrow service as it allows both buyer and seller to specify exactly what has to occur to secure their satisfaction.
[I work for Transpact.com, so I am obviously not impartial - but I believe this to be fully true]

 

[xynames]

Okay I'll take a look at transpact now.

 

[xynames]

Transpact is in the UK. Not a problem, but my domains are almost entirely dot com and most of my buyers are in the U.S. I do see that you allow USD U.S. bank accounts for the ACH transfers (correct?), but if my U.S. buyer logs on and sees all that UK currency mentioned and such, he may balk. I haven't investigated Transpact closely yet, these are just my preliminary impressions.

 

[xynames]

Since escrow.com going downhill really fast, I'd give a try to escrowdomains.com

1.Their fees are lowest on the market.
2. They offer wide range of payout options (including crypto)
3. They are US based law firm
4. They seems to be a good people and I never heard anything negative about them.

I looked into https://escrow.domains/fees
and for example for a 5000 domain sale they say basic fees 162.50
which are exactly the same as at
https://www.escrow.com/fee-calculator
I compared their prices for a 1000 sale - identical, 32.50 For a 10000 sale, also identical, 175.50
I wouldn't be surprised if escrow.domains uses escrow.com in some sort of white label arrangement to do the escrows for them, lol.

Disbursements:
There is an additional $5. fee at escrow.domains to receive the incoming ACH, so actually they are $5. more than escrow.com for ACH transactions, $10. more for domestic wire and $20. more for foreign wire.

Also there seems to be no way for a buyer to pay with credit card at escrow.domains

escrow.domains does accept BTC, that's a definite plus, but at a $250. disbursement charge plus who knows at what rate of conversion.

escrow.domains are basically IP lawyers who offer escrows as a service to their clients. If you navigate their website it is a little hard to figure out exactly what methods are acceptable for incoming receipts, indicating to me that their escrow services were added as an afterthought. I'd suggest that they revamp their website to make it more clear exactly how their escrow services work - they should hire me to redo their verbiage for their website.

As a lawyer and expert on IP law myself, I can see where escrow.domains might be useful in some circumstances. But if you're just doing a straight escrow sale with no IP issues, might as well just stick with escrow.com as the price is exactly the same, escrow.com is much better known, and escrow.com accepts credit cards which many buyers especially in the 1000 - 5000 range love to use credit cards. Also, as a member of the legal profession, I know that unfortunately many civilians are mistrustful of lawyers and if you're selling a domain to the average Joe and then you direct him to a lawyer's website to pay you, he may balk.

 

[soidav]

I looked into https://escrow.domains/fees
and for example for a 5000 domain sale they say basic fees 162.50
which are exactly the same as at
https://www.escrow.com/fee-calculator
I compared their prices for a 1000 sale - identical, 32.50 For a 10000 sale, also identical, 175.50
I wouldn't be surprised if escrow.domains uses escrow.com in some sort of white label arrangement to do the escrows for them, lol.

Disbursements:
There is an additional $5. fee at escrow.domains to receive the incoming ACH, so actually they are $5. more than escrow.com for ACH transactions, $10. more for domestic wire and $20. more for foreign wire.

Also there seems to be no way for a buyer to pay with credit card at escrow.domains

escrow.domains does accept BTC, that's a definite plus, but at a $250. disbursement charge plus who knows at what rate of conversion.

escrow.domains are basically IP lawyers who offer escrows as a service to their clients. If you navigate their website it is a little hard to figure out exactly what methods are acceptable for incoming receipts, indicating to me that their escrow services were added as an afterthought. I'd suggest that they revamp their website to make it more clear exactly how their escrow services work - they should hire me to redo their verbiage for their website.

As a lawyer and expert on IP law myself, I can see where escrow.domains might be useful in some circumstances. But if you're just doing a straight escrow sale with no IP issues, might as well just stick with escrow.com as the price is exactly the same, escrow.com is much better known, and escrow.com accepts credit cards which many buyers especially in the 1000 - 5000 range love to use credit cards. Also, as a member of the legal profession, I know that unfortunately many civilians are mistrustful of lawyers and if you're selling a domain to the average Joe and then you direct him to a lawyer's website to pay you, he may balk.

escrow.domains doesn't use escrow.com platform, I do not believe they are related in any form.

if you are dealing with average Joe on smaller sized transactions where transfer fees are matter,you would probably stay with escrow.com

If you are dealing on a bigger size transactions and like flexibility (getting paid in crypto or splitted payouts) you can do that with escrow.domains.

Escrow.com indeed is better known, but they are low-class.

They are silently implementing rules (without TOS update) and screwing their customers for fees.
(https://www.namepros.com/threads/escrow-com-last-move.1084172/)

So of course there are different circumstances for each transaction, all I say that escrow.domain is a solid alternative and great product delivered by a VERY trusty people of the industry which is seems worth a try for me.