Should Flippa escrow still be avoided at all costs?

[Tytus]

Just wondering if flippa escrow should still be avoided like a plague when going through a big deal. I always liked escrow.com but it would be nice to save a big sum in escrow fees when the time comes. Opinions? Anyone use it lately?

 

[cocaseco]

I've never had any problems with their escrow service. I haven't heard of others having problems either, but maybe I missed something.

 

[enterscope]

Well I used it for the first time with my last sale and have had nothing but problems. First off, my auction ended well over a month ago and the domain name is already transferred to a new registrar and my funds are still locked in escrow. When I go to the Receive Payment page, and fill out all the details NOTHING HAPPENS. The button still says "Receive Payment" and it takes me through all the steps to verify my bank details again. I've done the process several times and have submitted TWO support tickets and NOTHING. Not ever using Flippa escrow again.

 

[imadoer]

i had no problems with flippa escrow. i think its a safe way to sell or buy

 

[Tytus]

Well I used it for the first time with my last sale and have had nothing but problems. First off, my auction ended well over a month ago and the domain name is already transferred to a new registrar and my funds are still locked in escrow. When I go to the Receive Payment page, and fill out all the details NOTHING HAPPENS. The button still says "Receive Payment" and it takes me through all the steps to verify my bank details again. I've done the process several times and have submitted TWO support tickets and NOTHING. Not ever using Flippa escrow again.

Its things like this that make me think hard. A simple search on google will bring up a couple nightmare stories with promisepay. This is why I asked. I have a sale coming up and I think I might fork up the huge escrow.com fee just to have a piece of mind.

 

[enterscope]

I'm sure it's still in beta, but maybe they should get all the kinks worked out before people's funds are involved.

 

[Jen-Sin]

Has anyone outside US or Australia tried receiving wire payment from Flippa Escrow before?

 

[machej]

I'd recommend Flippa Escrow for payments under $500. Use Escrow.com above $500 as you get a discount on Flippa. I have found Flippa to be a bit slow when transacting.

 

[redesignunit]

Yes Flippa still good for escrow.

 

[BrandChimp]

Its things like this that make me think hard. A simple search on google will bring up a couple nightmare stories with promisepay. This is why I asked. I have a sale coming up and I think I might fork up the huge escrow.com fee just to have a piece of mind.

You get what you pay for.

 

[GravityEleven]

my last Flippa escrow experience has unfortunately been a complete nightmare.. transferred domain to buyer already on 22nd dec, got released the funds on 11th january (even though payment was creditcard).. with various issues in between from Flippa escrow team (late or no reaction to some requests, according to them Buyer was somewhat suspicious (temporarily blocked, so couldn't release funds himself, had to be done manually by some high level Flippa escrow staff etc..) without clarifying the underlying issue etc..)

sorry, no more Flippa Escrow for me..
(i had planned to use the funds for another purchase but the time window has already closed for that when i finally got the funds)

 

[JudgeMind]

their escrow is great in my mind, promise pay may take an extra day or two on their end but for security reasons.

 

[Branded Domains]

I did not find any difficulties using flippa escrow yet..sometime it takes 2 to 3 days to get ur funds..

 

[Haris]

Does Flippa Escrow have additional charges in addition to Success Fee?

 

[bonavee]

Has anyone outside US or Australia tried receiving wire payment from Flippa Escrow before?

Yes I did, sometime last year... Wire Transfer to a Nigerian bank account. Yes, there were problems e.g. (1) the personal info form kept on asking for phone verification which had already been successfully done before, (2) the space provided for the Wire Transfer details was too small to take in the required info, etc. Anyway, the funds eventually landed in my bank account, albeit a million years late! Looking back now, I believe that the Flippa people were (possibly still are) just cutting their teeth in the Escrow field. Also, I believe that there is generally a regular breakdown in communication between the Flippa departments. They will surely grow... with experience and exposure. I will still consider using Flippa in the future.

 

[Jen-Sin]

Yes I did, sometime last year... Wire Transfer to a Nigerian bank account. Yes, there were problems e.g. (1) the personal info form kept on asking for phone verification which had already been successfully done before, (2) the space provided for the Wire Transfer details was too small to take in the required info, etc. Anyway, the funds eventually landed in my bank account, albeit a million years late! Looking back now, I believe that the Flippa people were (possibly still are) just cutting their teeth in the Escrow field. Also, I believe that there is generally a regular breakdown in communication between the Flippa departments. They will surely grow... with experience and exposure. I will still consider using Flippa in the future.

Was your funds received in your bank account the correct amount you expected (Sale price - Success Fee - 25 wire fee - your bank incoming wire fee) and in USD?

 

[bonavee]

Was your funds received in your bank account the correct amount you expected (Sale price - Success Fee - 25 wire fee - your bank incoming wire fee) and in USD?

Yes, exactly... in USD. However, my almighty bank deducted another $5 (said to be their processing fee ) from the balance.

 

[MasterOfMyDomains]

https://www.namepros.com/threads/so-you-thought-flippa-was-shady.879930/

https://www.namepros.com/threads/flippa-and-his-curious-solution.910490/

Never used flippa, never will. Partly because i am tired of sharing all my banking identification with every Tom, Dick and Harry I need to do business with. Mostly because of what I have heard

 

[Recons.Com]

I used flippa escrow on $39K sale. Did not have problem, except they dragged unnecessarily acknowledgement that they received money from buyer for quite a few days. The buyer sent me the bank paper showing he paid immediately, flippa was stating "they are still receiving funds" for quite few days. I know that when I transfer money from Europe to my account in the US, I can see the money in less than 24 hours.

I think they should really work on it.

 

[Nerevar]

Used it both as seller and buyer, did not have any problem.

 

[TargetNames]

I am using Flippa escrow for the first time. I've always been wary of transacting business on Flippa as a seller but thought I would give it a try. So far, I find it confusing. Does anyone know if there is a way to track the escrow process in the dashboard? I cannot find or see a "domains in escrow" or "current escrow" tab- anything denoting that I have a domain in Flippa escrow and its current status in the process. Also, no email notifications, etc.

Also, customer service has been slow or non-responsive and the buyer stopped communicating but I will reserve judgement until more time has passed. As a first time user, it is also possible that I'm missing something.

 

[Nerevar]

So far, I find it confusing. Does anyone know if there is a way to track the escrow process in the dashboard?

Go to the domain auction, to the sales completion area. Click "start Flippa Escow" even if you have clicked it before and it has already started. You will see the current status of the Escrow transaction.

 

[GoKaizen]

Are people still having issues with Flippa Escrow?

 

[machej]

Are people still having issues with Flippa Escrow?

It's not bad but if you're dealing with sizable amounts opt for something like escrow.com. That's usually what I do to make sure I can sleep at the end of the day.

 

[deez007]

I used Flippa Escrow for a $500 sales not so long ago... the service I got from Flippa through the process was perfect, the buyer was a total @sswipe and the Flippa excrow team managed to get everything sorted out and I had my payment sorted