Public request for SEDO to PAY me!

[webcom]

Hello,

This is a public request for SEDO to send payment for a transaction that I have concluded on January 30th. I have then pushed the domain in question to their account and I have received an email the same day stating they are processing my payment.

I expected to receive payment the same day, January 30th because the buyer had already paid but today is February 4th and payment is not in my account yet.

So SEDO, stop holding my payment and send it already! Stop treating your buyers and sellers like crap! We've made you what you are and you don't deserve it! You are one of the worst companies I have dealt with and I take every opportunity to publicly state how crappy your service is! At the same time, I urge everyone who's experienced your crap to STOP USING SEDO service for domain parking!

And once again, PAY ME ALREADY! :yell:

 

[Broker]

Exactly why I'm starting my own website listing my domains for sale and others from domainers useing escrow.com So tired of sedo and the rest holding funds to collect interest probably. It's not rocket science. Sell a domain, get paid, Buy a domain, get your domain.

 

[goodkarmaco]

If a person starts their own auction house, the will not have time to register domains.

If a person does not click on the link sent to them from Sedo then that can stall your transaction. Many buyers have spam blockers on in their email and Sedos email may not be getting thru.

I just did a escrow thru Escrow.com and it was about a week and a half to finish. I am sure like other sensible members have stated folks on the other end can hold up a sale. Even if they have paid for it, they still have to respond to the email to accept the account change before monies are released.

I always know if I am lucky the money will come thru within a week, but two weeks can be acceptable.

Sedo is a great company. They have a pretty good parking program. Not the best, but they have many parking benefits others don't. What they do have is excellant online and off auctions. Sedo has a strong international domain market for selling domains and as America struggles with its economy, Sedo offers the domainer access to domain buyers from around the world.

 

[webcom]

Sedo is a great company. [...] What they do have is excellant online and off auctions. Sedo has a strong international domain market for selling domains and as America struggles with its economy, Sedo offers the domainer access to domain buyers from around the world.

How many transactions did you conclude through SEDO and how did they go? You must have a reason for saying SEDO is a great company and it must come from your own experience.

I've conducted a number of transactions through them and none went smooth. There were always problems due to the incompetence of their transfer agents, delays and simply carelessness.

So what made SEDO a good company in their relationship to you?

I am not up holding Sedo in all cases, but everytime I have emailed the dept for auction sales, I get a quick responce

I have NEVER received a quick response from SEDO in my entire life. NOT from my transfer agents and NOT for general inquiries, when they sometimes DON'T respond at ALL!

who is your transfer agent

Marian De Souza and last time I heard from him was on January 30th. If I'm allowed to make a little joke, I think SEDO only has 1-2 transfer agents but they use different names to make us think there're 10s of them because they are all equally BAD!

 

[zero_haze_au]

Is everyone forgetting one of the biggest global crimes - Online Fraud.

In 2006 online Fraud cost over 3 Billion USD with 38 Million Credit Cards stolen or copied.

Any online company who would routinely pay out the seller as soon as a buyer has paid, in a business sense is outright stupidity.

For example pretty much all Affiliate Marketing Companies require you reach a certain level in funds as well as paying only once a month. Google Adsense also pays once a month. Companies need to ensure that money has CLEARED.

And anyways, SEDO should only pay out once a month, so what if they make interest on held money, so does Google with merchants who Prepay, so does every Affiliate Marketing Company where Merchants also prepay their commission. They deserve the interest, as much as everyone likes to complain no company is perfect and i would like to see how many domains you successfully sell without companies like SEDO

 

[webcom]

They deserve the interest, as much as everyone likes to complain no company is perfect and i would like to see how many domains you successfully sell without companies like SEDO

Sorry? They deserve the interest? In case you didn't know, SEDO escrows domains (pardon, they sometimes only help find the buyer but don't do much of an escrow :lol: ) for a FAT commission of 10%! So I fail to see how they deserve the interest.

 

[goodkarmaco]

To make a big deal about not getting paid from Sedo is ok Imo.

But the transaction was done Jan 30 and on Jan 4th you think they are trying to scam you? , lol.


I have not expected my money to come thru quicker than one or two weeks so no, I have no problem with them because they have always released funds within a couple weeks.

Too expect anything else is the person who accepts the bid at Sedos fault. When your bid was announced as being placed in Sedo, did they tell you you would get the money in one day? They are no slower or quicker than Escrow.com, so where will you go if you have a buyer who wants security in the transaction?

 

[Markith]

I have had nothing but problems with them recently too. Most recently I bought a domain and paid right away. They are telling me I need to start a transfer (which costs money) to get the domain.

I have never had to start a transfer before, they just always send me the security code and transaction id. Anyone had this happen before??

 

[westsider]

Payment late for a week or so and the payee is spamming against the payer? Makes me suspicious. I remember doing business with a guy who worked for a very famous public interest group. Everything went fine until the time came for the guy to pay me. I never got any payment whatsoever. I have since become very suspicious of people who claim they are working in the public interest. I'll bey there's more to this story than the spammer is telling us.

 

[competentdomains]

I wait for money too. Sedo got payment on the 19th, the domain whois was changed on the 30th but the last detail in the transaction history menu is from the 22nd. Sedo faq says payment will be done when the buyer may control the domain. Sofar Sedo is 5 days late. I wrote an email to Sedo.

 

[Dave_Z]

Waiting 4 days after they started to process my payment is not reasonable.

That's if you don't consider one reason subsequently stated:

Is everyone forgetting one of the biggest global crimes - Online Fraud.

Since it seems no one intimately knows how Sedo operates this issue, there's
no way of knowing whether 4 days to process a payment is "unreasonable" or
not. It doesn't take long to send a payment via PayPal, but it does take time
to investigate, verify, and resolve claims of potential fraud or so.

(Then again, I recall reading somewhere they hardly do checks. Don't know if
that's all changed, though.)

People can freely agree or disagree if Sedo "deserves" to earn interest or not.
Unfortunately that won't resolve the OP's issue of why he hasn't been paid...
yet.

 

[verbster]

On Jan 30, I received a notice from Sedo that there was a problem with a domain I won (and paid for) at auction. Sedo said they would refund the payment. I received the refund on Feb 4.

 

[goodkarmaco]

I like their security actually. If I make a mistake and import a name by misspelling it, they place a hold on it until I verify if I own it. That takes a few days, but at least it is good policy, so when a person does buy a name in Sedo it is a legit sale.

I don't mind bashing a company if they really have poor service. I know alot of members are quick to push names around this place, but selling in Sedo is different than Namepros as we do not know the buyer. Sedo is much better for me than lets say Ebay. A person can get paid real quick in Ebay, but can get scammed real quick there too.

I tried the making a website to sell my names idea, still have it uploaded with my names. Do I ever get any interest from it?, no.

I sell names in Sedo pretty regularly and am looking to do so in the future. I doubt I will ever sell one thru my own domain site. Its the security provided to the buyer that makes Sedo better than my own website.

Why make life any harder than it is? Get more names in the auctions (low offer gets more bids) and a person will always have money coming in.

 

[webcom]

Today, I have received payment from SEDO. Not a single reply from Marian DeSouza, the so called transfer agent - not even after a week.

And a final complaint - I have kindly asked them months back to STOP sending me payment in EUR because my desire is to receive payments in USD and the buyers of the domains I am selling through them also pay in USD.

But no, they are shoving EUR up my ass forcing me to lose money when I convert from EUR to USD in PayPal. So, instead of ending up with $901 after SEDO's FAT commission of $100 earned for nothing - I end up with $885 after converting EUR to USD in PayPal because they don't use the official EUR/USD parity but a lower one to their advantage.

Lessons to be learned:

1. SEDO has zero Customer Support and if Customer Support is about Customer Respect, SEDO shows no respect to any of us.

2. When companies work to steal from you, they always work together.


Peace to all.

P.S. I am still waiting for a PUBLIC STATEMENT from SEDO as to why they are delaying payments and what they are buying with the earned interest on OUR money.

 

[goodkarmaco]

Like I say Sedo came thru for you.

Seven days after the buyer paid and you got your money. Thats pretty quick for a huge company and the fact they they make sure everything is on the up and up for you, before they release funds is a great customer service.

Domainers who sell a name for two hundred thousand dollars are waiting the same time too. If a person wants to try selling on their own, they always have that option. Most pros know, Sedo is going to come thru for them, so don't shoot yourself in the foot and just go along with it, patience is the key.

At times I have seen that Sedo deserves public bashing for taking way too long. Not in this case though. Anyone who wants to sell a name in Sedo should understand a week after payment is made to get paid is pretty normal and other auctions houses are not any quicker.

Of course, I have no problem with any member who decides Sedo is not for them. They have nine million names for sale on any given day and if a few people take their names out of Sedo it makes my chances to sell my names go up a little bit more.

If all of us, including newbies understood the process will take at least a couple weeks, we would not be seeing these threads about not getting paid one day after the buyer paid for the name.