Transpact.com...

[DanBingham]

A wise alternative to using Escrow.com?

They claim to be Europe's leading Escrow service and have been going since 2009. Personally, I have never heard of them until I carried out some research recently, have you?

If so, are you using them? What has been your experience?

Also, from a buyers perspective, why would they choose to transact via Transpact rather than Escrow.com who are, lets face it, the trusted payment gateway solution for selling domain names.

Interested to know your thoughts.

 

[Kate]

There have been a few threads about them.

 

[FairTrial]

I'm obviously highly biased, but I would say the following factors:

i) Faster - Transpact.com's fastest domain transaction was 17 minutes from start to finish, from the transaction start to when the final payment arrived and cleared in the seller's bank account (that was obviously a transaction within the EU, as USD payments take longer).

ii) Trusted - Transpact.com handles many domain transactions every day, and has done for years

iii) Much lower cost than Escrow.com - We have never understood Escrow.com's high pricing

iv) More Secure - Because you set the escrow conditions that safeguard your sale/purchase, you can ensure that you are protected against all possible eventualities.


We would dispute that we are not also 'the trusted payment gateway solution for selling domain names', given the volumes we handle.

 

[golan]

@FairTrial How do you handle EU VAT issue? Thanks

 

[FairTrial]

@FairTrial How do you handle EU VAT issue? Thanks

As a financial service, we are fully outside the scope of EU VAT just like any EU bank also is.
So VAT does not affect us.

So we receive and pass on payments that may or may not contain VAT - but to us they are just payments to be received and remitted.

[To illustrate - we may receive €1,000 without vat and pay out €1,000 without vat.
Or we may receive €1,200 including vat (€1,000 plus €200 vat) and we pay out the €1,200 we received.]

 

[wizard]

Used them many times before great service far better than escrow so would recommend them..