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Sedo payment failures

Located in Domain Marketplace Reviews, started by topdom, May 26, 2020

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505

  1. topdom

    topdom Top Contributor VIP

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    I make a 50 usd sale at Sedo, I tell Sedo , don't send it yet, they say, we can't keep it for long....
    Anyway then I make 4 figure sales. Money paid to them, domain pushed, then they wait at least 1 business day just to create credit note, and then wait at least one more day, still not paid, and I check my Sedo account, they claim: Transfer completely finished. Ok but money not sent. I say please send it today. They wait, and not even send the next business day or even respond.
    They are very interested in sending small payments quickly, and also very interested in delaying bigger ones.
    ................
    ALL MARKETPLACES must have "Unpaid balance" on users' dashboards. It is impossible for me to login to my account and check how much Sedo, or Dan, or AN owes me. Why do they do this? Hoping everyone forgets about them?
    .....
    I'm not saying Sedo is slow compared to others, but sometimes they are slow, and nonresponsive , plus they claim transfer completely finished when it is not. I think Dan is the fastest in this sense among these 3.
     
    Last edited: May 26, 2020
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  2. lock

    lock DomainUsed.com VIP

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    I merrily wait 30 days plus elsewhere.
     
  3. krishmk

    krishmk Top Member VIP ★★★★★★★★★★

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    Every market place will have a payment security policy. If the buyer had paid directly to their Bank account - it could have been released immediately. If paypal or credit card was used - they might hold for few days to rule out chargebacks. The risk increases more with first time buyers.
    Sedo have been in business for almost 2 decades - I personally dont think they are going to hold your payment purposely.
     
    Last edited: May 26, 2020
  4. lock

    lock DomainUsed.com VIP

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    Always see thread like this some screaming for money after few days did you read the terms?
     
  5. Samer

    Samer Restricted (Chatroom)

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    Good old Sedo still stuck in 1999
     
  6. BrandCollectors.com

    BrandCollectors.com Restricted (Chatroom)

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    i suggest to use Epik marketplace with their MasterBucks you can withdraw any amount.
     
  7. topdom

    topdom Top Contributor VIP

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    Epik is good, but domain sold at Sedo, so I can get the money from Sedo only. They keep the money after more than 10 days. Why? Maybe beause they think "transfer completely finished". Maybe if I don't complain about this I will never get paid.
     
    Last edited: May 26, 2020
  8. VaibhavA

    VaibhavA Top Contributor VIP

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    1. Sedo doesnt work on weekends and holidays.
    2. Have you selected the currency in Transfer Center-->Transfer Details. You have to set that for every domain sale.
    3. Dont worry. You will get paid.
     
  9. Jurgen Wolf

    Jurgen Wolf Top Contributor VIP ★★★★★★★★★★

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    If you have "For further credit" (FFC) in your bank details - it will be processed manually once a week.
    Autopayment (next business day after Credit Note) doesn't work in this case.

    I don't use FFC instructions.
    Also never had any delays with Sedo wires regardless of amount.
     
  10. Jurgen Wolf

    Jurgen Wolf Top Contributor VIP ★★★★★★★★★★

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    And yesterday was Memorial Day in the USA...
    If your sale is handled by their US office/agents...
     
  11. topdom

    topdom Top Contributor VIP

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    Yes in case off FFC (payment note), it looks like they send money on Wednesdays.

    But then there is another problem, payment in mid 3 figures, and bank fees on their side above 50 usd. Also there is 21 usd cost on receiving bank side. So to make zero dollars from a sale , I have to sell a domain for about 90. If I sell a domain for 500 I may get only 323. At Afternic it would be 376.
     
  12. Jurgen Wolf

    Jurgen Wolf Top Contributor VIP ★★★★★★★★★★

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    Prior IBAN transfers - my loss on Sedo wires from their Commerzbank to my Ukrainian bank was 15 EUR.
    Didn't try IBAN, because no sales for me via Sedo in 2020.

    Tried IBAN on Dan - zero loss.
     
  13. VaibhavA

    VaibhavA Top Contributor VIP

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    Why dont you use paypal for payments in xxx range?

    If the domain is discovered on their website then their fees is 15%.

    If the domain is discovered on their website and on their landing page (using sedo nameservers), then their fees is 10%.

    They have also removed their minimum 60$ commission since 2019. So, even if you make a sale in low XX$ and request money by paypal, its cheaper than any other "big" marketplace.
     
  14. topdom

    topdom Top Contributor VIP

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    Paypal acct closed..
     

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