I closed a Payoneer escrow where Payoneer was actually almost too good...for me, the seller. Once buyer paid and I submitted the transfer/auth code via escrow message
(nice feature - similar to the concierge service at escrow.com but at no cost)
Payoneer declared a 48 hour inspection period, and 48 hours later escrow closed and funds were transferred to me, even though buyer didn't even have the domain yet, due to this issue described here:
https://www.namepros.com/threads/co...aimed-was-icann-had-suspended-domain.1059240/
I ended up pushing the domain to buyer DynaDot to DynaDot
after escrow had already closed. Buyer never panicked or even mentioned to me the fact that Payoneer's escrow had already closed, because he trusted me (somehow, even though he didn't really know me) to get him the domain, which of course I did.
But wow, Payoneer is serious as a heart attack about closing escrow once the transfer info has been transmitted to buyer. No dilly dallying!
Compare: to escrow.com which has a loophole that a buyer may take advantage of in a domain sale escrow:
Once you click to state that you have given buyer the domain transfer/auth code, if buyer doesn't click to say that he received anything, no clock ticks (inspection period does not even start until after buyer manually clicks to state that he received the domain) and buyer could conceivably hold up escrow even after receiving the domain until you go in and prove to escrow.com that buyer has received the domain. (Buyer could also take his time doing the transfer and hold up escrow for that, as well, with almost no recourse by seller since no inspection period clock starts until after buyer clicks to acknowledge that he received the domain.)
There used to be a service called agreed.com (escrow.com bought them out) that I really preferred for escrows, because they did not have this two tiered received/approved approval process for the buyer - with agreed.com , like with Payoneer, you supplied the info needed for the buyer to obtain whatever it was that you were selling (domain transfer code, etc.) - you would supply this info directly to agreed.com - and then agreed.com would verify that the info was correct and once it did, then start the inspection clock on the buyer right away.
This loophole at escrow.com - that buyer could play games and conceivably pretend that he hasn't even received the domain, and never start the inspection period, is why I always c :
[email protected] with my emails to buyer, including when I supply the domain transfer/auth code. escrow.com has told me that they will force the inspection period to start if seller can prove that domain has transferred, which is why it is important to keep them in the loop as to your complying with all steps of the escrow.
Global payments company Payoneer is getting into the domain name escrow business with the help of former Escrow.com president Brandon Abbey.
