We have made hundreds of thousands of payments without issue.
From your perspective it is without issue for your company, but as my experience indicates, it's not without issue for sellers.
With increasingly strict banking regulations, more and more sellers will face this issue. As
@Haris noted above, his bank warned him of receiving payments with false payment info.
You also receive an email letting you know your domain sold and what the sale amount was.
Sorry this is also incorrect. Afternic's bare bones domain sold emails do not list the sold amount.
This is what your sold emails look like FYI:
It does not contain details such as the amount paid for the domain.
You're looking at this purely from GoDaddy's perspective. Instead, consider a bank looking into a wire transfer from GoDaddy for online advertising.
They then receive the email above as proof that the wire transfer info is false, and the screenshot is the truth. From
their perspective, what does this email even have to do with online advertising income from GoDaddy? How can they they see "online advertising income" from GoDaddy, and draw the conclusion that the above email is that? As my account remains frozen, they've clearly not managed to draw such conclusion yet.
You work for GoDaddy, so of course you know that Afternic is owned by GoDaddy, and that Afternic's system is used by GoDaddy for selling domains, and that GoDaddy pays out domain sales payments for Afternic, etc. Banks don't have a clue about Afternic, GoDaddy, and domain sales,they simply want me to send them proof of activities that have generated online advertising income, as that is what you say the payment is for.
KYC and AML regulations are becoming so strict that banks do not have the flexibility and leniency, let alone mental gymnastics required, to accept that "online advertising income" from godaddy = "domain sales proceeds" from afternic... They require congruity and consistency between what things seem to be, and what they are. You are putting us in a situation where that becomes impossible.
Even if the bank believes the screenshot, they will then also have to conclude that GoDaddy must in fact be sending payments with deliberately false payment details. That's the best case outcome, and it's still a really bad look for us from the banks' perspective! Again, I do not understand why you are fighting against accurately labeling payments, why do you want to mislead banks and governments' banking regulators around the world, is GoDaddy gaining anything from falsifying payout details to sellers?
@Joe Styler - Is GoDaddy going to fix the issue and begin labeling wire transfers for domain sales as domain sales? It's really just about correcting 3 words in your SWIFT template, and it's really not difficult to carry out. Despite what you have claimed previously, you're
not going to run into any compliance issues as a result of labeling payments truthfully (what kind of regulations would you be breaking?? What kinds of permissions would you have to seek from legal and accounting to start label domain sale payments as domain sales payments??). Or, are you just going to keep sending out payments with deliberately false payment information?
