Transpact.com - UK/EU members should check them out!

[Dave]

Hello everyone,

Just wanted to write up about my recent positive experience with http://www.transpact.com/. For those who don't know they are a UK based escrow service that cater to a multitude of uses ranging from selling artwork to selling a domain name.

I recently sold the domain 'Daisy.tv' to a business based in Germany. Since I am from the UK and the transaction was to be made in Euros (and later converted to GBP) then Transpact seemed like the ideal service to use.

First up Transpact is very easy to use. The control panel is intuitive, clear and to the point. Either a buyer or a seller can create and setup a transaction and I think one highlight is that you can provide your own terms of agreement for the Transaction. Both parties can then review these said terms before proceeding ahead with the transaction.

Transpact's fees for buyer and seller work out at £2.99/€3.49 each (so in total £5.98/€6.98). There maybe more fees incurred later on in the process when payment is due for exchange rates but this is also offered at a very low and completely worthwhile rate.

All payments made to and from Transpact within the UK and EU are handled either with FPS (Faster Payment System) or SEPA (Single Euro Payments Area) so you know all payments are handled quickly and securely.

Lastly Transpact support have been very responsive and quick to respond to me, usually within 10 minutes via email!

Overall my experience with Transpact has been very positive and I can highly recommend them to any members from the UK or EU.

If anyone has anyone questions please feel free to ask as I am bound to have missed something.

:imho:

Have a nice day all,
Dave

 

[JFS]

seems like a good option for eu ppl =)

 

[Dave]

It most definitely is and before anyone asks I must clarify this is my own honest opinion of their service drawn from my own experience. I do not work for or am in anyway affiliated with them I just think they deserve the praise and I for one will be using them again.

 

[Dave]

So nobody else has used or wants to share their experience with Transpact? :S

 

[bulkdomainz]

Never heard of them until now ....

 

[Jawed]

Thanks Dave for sharing your experience with us. I'm hearing about it for the first time too. I can see you can use them for a variety of services. I will give them a try in near future.

 

[DragonHawk]

Bringing up an old thread because no one else has shared their experience with Transpact.

I just completed a $26k transaction (as the seller) through Transpact. Everything went smoothly and the money has just entered my account. And both parties are not in UK/EU. The buyer was from the US and I'm from AUS.

Escrow.com would have charged USD$231.40 for the transaction. Transpact charged a total of USD$19.98.

Needless to say, I was happy with Transpact services and will definitely use them again in the future.

 

[jim1234]

One of the biggest scamming sites i have ever seen. Many many hidden charges. The changes the rules to suit. If they are going to get money they will bend the rules, if they dont get fees they will not budge. They then charge more fees and more fees. My seller got his money after i paid lots of fees only to find he had also been charged. For at $250 transaction from the UK it ended up costing $70 in fees! absolute joke and will be reported to Financial Ombudsman about their conduct. Do not use these guys you have been warned

 

[FairTrial]

One of the biggest scamming sites i have ever seen. Many many hidden charges. The changes the rules to suit. If they are going to get money they will bend the rules, if they dont get fees they will not budge. They then charge more fees and more fees. My seller got his money after i paid lots of fees only to find he had also been charged. For at $250 transaction from the UK it ended up costing $70 in fees! absolute joke and will be reported to Financial Ombudsman about their conduct. Do not use these guys you have been warned

Transpact.com is an open, honest, secure, low-cost service, offering top quality service and excellent value for money.
I work for Transpact.com, and we had a very unfortunate experience dealing with a user who probably was Jim1234.
The user chose to transact in US dollars.
Our fees for transactions in US dollars are clearly shown on our website - $9.99 for each party ($19.98 in total for two parties), plus $15 taken from any payment below $2,500 to the USA, or $29.72 taken from any such payment to outside the USA (this last charge represents the cost of the wire transfer we make which is included within our charges).

As the user's counterparty was in Singapore, our total charges for the transaction were $9.99 + $9.99 + $29.72 = $49.70 - not $70 as the Jim claims, and these are clearly shown on our website.
We agree that charges of $49.70 for a $250 are not competitive, but they are not meant to be as we are not particularly useful for international transactions in USD at this low level.

We had tried to get the user to transact in GBP or Euros (as the user was in the UK), and our charges for GBP and Euro transactions are much more competitive (we charge only £2.99 per party per transaction, or £5.98 in total for GBP transactions (€3/49/€6.98)). There would have been a £17 international fee for any GBP payment made to Singapore (again representing our international bank wire cost).

The user was extremely abusive for no reason, to the extent that we considered approaching the Police due to the user's exceptional levels of abuse - all without reason.

We are proud of our open nature at Transpact.com, with clear up-front pricing, and excellent service. As this thread shows, nearly all our users are delighted with our service.

 

[oberheimer]

Thanks for the review so a transaction in USD is priced higher?
€ and £ have a flat fee or (for less than £10 000 and €15 000) ?
I might use Transpact to buy a product in Germany and i Live in Sweden.

 

[FairTrial]

Hi Oberheimer,

Yes, USD charges are higher because Transpact.com charges already include payment to the final bank account.
Within the EU, payments in Euros are free (or almost free) and almost immediate by EU law. Likewise, within the UK, GBP payments are generally free and instant. So Euro and GBP transactions are low cost.
However, the USD banking system is antiquated and expensive, and as Transpact.com's charges includes the final USD wire transfer to the payee's bank account, Transpact.com's USD charges must be higher.
But even Transpact.com's USD transactions are still far lower cost than other escrow services, so still worthwhile.

Transpact.com transactions always have a flat fee, but any Euro payment over €15,000 (£10,000 for GBP transactions) has a small surcharge taken from it (for example, the Euro surcharge taken is €15 for payments €15,000 or above but below €30,000).

Once you have given Transpact.com a try, why not relate your experiences here ?