NameSilo

Sold my domain for $20 got payout $0.8 at SEDO

Located in Domain Marketplace Reviews started by Sakthimicro System, Oct 19, 2019.

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651

  1. Sakthimicro System

    Sakthimicro System SAKTHIMICRO

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    Sedo cheat my money many times, when I sold 20$ domain with Sedo they send payment to our bank, without our persimmon or don't send to paypal, when i set payout limit $1000 or always pay to Paypal,

    i am international customer so remittance/ wire transfer fees very high like that ($20),

    when sending $20 (Rs3600) to my bank account i will get only $0.82 (Rs 140) (ha ha very jokes)

    if i sold 5 domains in the month each $20, my total is $100, so when transfer $100 to my bank

    i will get $80 (Rs 14500)

    But sedo send the payment without our request and send my payment to divide from $100 to each $20 separate payment, so customer receive only $0.1 for the $20 domain sale,

    (some times I got $0.0 (Rs 0) payment all of my $20 debited for the remittance/ wire transfer fees)

    every time i set payout limit $1000 , but sedo don't wait for that,

    Also request to transfer Center staff for the payment “please hold the payment don't release, please send when reach $100 then payout to me” but they don't care about customer

    i deal with Dan, and Godaddy, Afternic all of is very good and Dan is best.

    Last my sale $120 at Dan they send my payment $109 after debited commission (sorry for the basic English)
     
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  2. Sedo

    Sedo Established Member Sedo Staff VIP ★★★★★★★★★★

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    Dear Sakthimicro,

    Thanks for your message, I am sorry to read that you are unhappy but with the greatest of respect Sedo can not be held responsible for any bank fees that you incur receiving the funds. We pay out the full amount – commission, if you have a lesser amount when you receive the funds then this is something you need to take up with your bank.

    If you sell a domain for 20 USD directly on our marketplace as Make Offer or Buy Now then the commission fee is 15% of the sales price, that’s it, we do not take more, this is outlined in our price list: https://sedo.com/uk/what-we-offer/price-list-for-services/

    The setting ‘payout limit’ under My Account > Payment Details, is the payout limit for parking revenue only, as stated next to the field you select the amount in. This does not refer to domain sales in any way.

    If you have selected, ‘Pay by wire’ in your Sedo account and you have included bank information then this is the account that your payment will be sent out to. We do not double check payout means, as this will delay payout which most sellers want to avoid. You need to update the details in your Sedo account before domain sales take place if you no longer want to receive the funds in the way that you have already opted.

    As you have not given any details about the domain I am not able to see the exact transfer you are referring to. If you would like me to look into it further for you then please provide me with the name of the domain or email us at [email protected].

    All the best

    Chris
     
  3. Sakthimicro System

    Sakthimicro System SAKTHIMICRO

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    Thanks for your reply,
    i always set payout to paypal on my sedo account and also told to transfer center staff my situations don't payout to bank, and don't receive any payment from sedo to my bank account,
    my total is $70, $70 not mater, we need to trusted platform, i had 17 years worked in IT field, i ready to share my bank statement also, but sedo still showing silent for my tickets, i am already done with some successful domain sale Afternic, Godaddy, Dan, Namecheap, they perfectly transfer to Bank or paypal, i trusted sedo last 7 years, but today i leave from the platform and i will recommend to my friend and our club members to DAN (i don't promote Dan, but still that is true. they are perfect customer care)
    Today i transferred my 50 domains to Dan, if you need the list i can share it.
    but every business believe one "Every Customer Important for the Business"
    thanks for your time
     
  4. Sedo

    Sedo Established Member Sedo Staff VIP ★★★★★★★★★★

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    Dear Sakthimicro,

    I am sorry that you feel like you need to leave our platform; this is most certainly not what we want, but unless you give me the details of the transfer I can not help you.

    As I explained in my last response, you have not given any details about the domain transfer so I am not able to see the exact transfer you are referring to. If you would like me to look into it further for you then please provide me with the name of the domain or email us at [email protected] so that we can see what exactly has gone on here and get back to you about it.

    All the best Chris
     
  5. mAd MaX

    mAd MaX Established Member

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    @Sakthimicro System I am from India too...it's the banks who's responsible.

    For my last transaction at @Sedo I took payout to my Deutsche Bank account thinking it would be better as both of Germany.

    @Sedo sent out the payment as per the tat but I didn't receive the money in time got little bit suspicious of @Sedo but finally Deutsche Bank (India) told me it's their delay because of Indian work culture you know!

    German Quality is supreme 🙏
     
  6. tldboss

    tldboss Top Member VIP

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    @Sakthimicro System I suggest you give @Sedo more details about the transaction, so they can look into it further and give informed explanation.
     
  7. CreativeMedia.us

    CreativeMedia.us Country Manager at Epik.com VIP

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    'if i sold 5 domains in the month each $20, my total is $100, so when transfer $100 to my bank

    i will get $80 (Rs 14500)

    But sedo send the payment without our request and send my payment to divide from $100 to each $20 separate payment, so customer receive only $0.1 for the $20 domain sale
    '

    @Sedo is not a bank & don't keep money and once the payment is recived from buyer & domain transfer to him - seller will recived a inovice that is paid in 1-2 business day automatically ( is not about if you make or not a request to recive money )
    So if you sell 100 domains, they will for each a separte payment, because each sale have a bill of sale that is necessary & complain with rules of accounting they have as a company & also for buyer/seller

    I made 2 sales in 5 minutes on @Sedo different buyers so i have two bill's for each sale & also 2 payments
     
    Last edited: Oct 21, 2019
  8. moe

    moe Established VIP

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    High commission platform, parking payout is a joke, and not to mention there is tax on sale amount as well.
     
  9. tldboss

    tldboss Top Member VIP

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    Sedo do not have control of tax / vat, Governments do. Maybe you need to talk to your Accountant if you have one, to calculate the taxes for your sales on other platforms, where you did not pay taxes, do you do self assement re taxes.
     
  10. moe

    moe Established VIP

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    There is a 20% of Sedo commission to be paid on top of the commission. practicality you pay VAT for their "hard" earning.
     
  11. Sakthimicro System

    Sakthimicro System SAKTHIMICRO

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    thanks for your reply,
    i think Sedo need to some upgrade on systems, because Sedo confusion in my sales and payout, every time giving different details, regarding the my sales and payout,
    please check the attachment and dates you can believe it
    Hi #sedo my details sedo - [email protected]
    #sedo please check attachment, not clear in my payout sedo, if return sale earning my to my sedo account i will switching from Dan to Sedo
    [​IMG] [​IMG] [​IMG] [​IMG]
    [​IMG]
     
    Last edited: Oct 22, 2019
  12. Sedo

    Sedo Established Member Sedo Staff VIP ★★★★★★★★★★

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    Dear Thileepan,


    I have spoken to your transfer agent about sharex.co in detail, and I understand, that the payment was indeed made but our bank informed us that the bank fee would be more than the amount we were sending, so the payment was rejected. Our transfer agent then contacted you to advise you of this and we made an exception for you holding the payment and crediting your account. You came to an agreement that the payment would go towards the purchase of a domain, the domain of which there is a balance of 6 USD outstanding, (if you haven’t sent this already please arrange for it to be sent, if its been sent recently then the transfer agent can progress with it). We held your money as a credit and put the amount towards your purchase of your new domain as you requested, this is why it is marked internally as paid out and why I informed you that the amount has been paid.


    With the greatest of respect and to avoid future confusion, please refrain from sending us multiple correspondence across different platforms. So that this can be resolved as quickly as possible for you, we kindly ask you to contact only your transfer agent if you have any questions via the normal process as so:


    1. Login to your Sedo account

    2. Go to My Sedo > Transfer Centre

    3. Click on the domain name

    4. Click on the Transfer Status tab

    5. Enter your message in the field "Your Comment" and click "Submit"


    Or via phone +49 221 340 30-180.


    Best regards.

    Chris
     

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