Located in Domain Marketplace Reviews started by JudgeMind, Nov 12, 2015.
can't wait till 18 june to see what undeveloped is bringing up
Meanwhile big thank you to Undeveloped for my first sale 4 months into domaining.
$588 BIN went smooth like a Rolls-Royce
A "speak with the owner of this domain" button on the landers would be nice for both buyers and sellers.
so the countdown begins
only 10 more days to go
I sold my first domain last Friday the new owner has it, Undeveloped.com has my money since last Sat. I’m still waiting to be paid by PayPal the method I wanted, but now they say they can only payout $2000 because it’s their policy but I don’t see that anywhere on their site so there they are in fault.
If I had known there was a limit on PayPal I wouldn’t have opened an account, my credit union in Canada said it has to go through several banks and fees along the way and a possibility that it will get stuck in the USA if I try the bank transfer option.
They also have bitcoin and other crypto payments options but that is more for domainers who are trying to hide from paying taxes, and I don’t use them.
It would seem so easy to pay me in 2 payments this one time only, but it looks like they will do what they want since they have my money!! …I’m not sure what to do it looks like legal action is the only answer.
Congrats on your 1st sale,
You can use regulated exchange like coinbase to liquidate the bitcoin, directly to your PayPal account.
@Reza I would like to hear more about this, why can't the member get two Paypal payments, and why would payment not go smoothly to a Canadian credit union? Thank you
What Paypal limit? Whose policy, Undeveloped?
FYI on Paypal terms:
Oh right I know Paypal terms seems tiki saying Undeveloped won't go over $2,000.
I just mentioned that as it has perhaps nothing to do with PayPal, but with Undeveloped restrictions or their agreement with Paypal. As you are well aware in 2009, all the stupid banking laws and OECD crap came into effect.
I know first hand banking outside the US for years, each country has separate rules. Then if the transaction is in dollars, the NYC chase clearing house b.s. If the money was in Euro's I would bet there would be less b.s.
Dodd-Frank and Obama "HIre act" both disguised as "Protecting Consumers" caused huge problems in Int't banking where accounts were frozen, until documents provided evidence of funding origin. All this KYC stuff, etc. I bet there are restrictions within the country of origin of Tiki, not Undeveloped hence the restriction. All this phony over-regulation mentality of "Everybody is a suspect of money laundering", it's capital controls.
This is the last i got from them, so what alternative methods and why? ....of course i have to wait another day because of time zones ....in the meantime i deleted all my domains.
"As stated by my colleague Simon the limit imposed on Paypal is simply a policy of ours. We can payout $2000 through Paypal and the remainder through alternative methods. I will close this ticket as Simon will take care of your payout for this domain"
Laszlo from Undeveloped Domain Marketplace
Good to know this as many of my names are above that 2000 threshold.... as for the "why?" -- probably due to chargebacks/fraud. Perhaps trying to limit their liability.
Good to know. I'll be switching back to afternic from undeveloped as soon as possible.
Can you use Payoneer bank details and get paid? I got paid before through Payoneer Euros account in Germany without any issues.
I am yet to have a sale at Undeveloped, however I have quite a few domains redirecting there, because I have been assuming I could receive a Paypal payout even for XXXX sales. This is very disappointing to learn.
I have listed my Domains in undeveloped.com and its showing in my portfolio..
What should I do to make it more visible.. New to Undeveloped..
Help would be appreciated.
When you sign-up to a service or marketplace, you are bound by the policy of that company. We have good reasons to set a limit on the payout options that we offer. Our policy changes frequently and the Paypal payout limit might increase in the near future.
Our support team informed you about the limit when you requested it and directly suggested many alternative payout options to resolve your problem. If you truly want to resolve the problem you're facing, I'd suggest finding an alternative way to receive your payout. Complaining here (like you informed us you would) won't force us to change our policy just for you.
Using Transferwise or similar might be a solution.
Also, when you start to receive larger payments through Paypal, Paypal normally want to re-verify you, or if you go over whatever the annual receiving threshold is for your country.
Selling a domain in installments on Undev would also be a way to keep each payment under 2k.
Cool transferwise and payoneer are good options @Reza should look into that as well
I think we just have to live with it.
I get paid through bank wire, I get charged $25 on every transaction by intermediary bank Undeveloped uses which effectively means i lose extra 10% on any deal that is around $250.
I did raise this issue with support but they stated the only workaround would come when they allow payoneer payments.
Transferwise Borderless lets you create virtual accounts in many currencies, avoiding exchange and wire fees. Paypal takes 2.5% on currency exchange, plus possibly other charges.
If you create a Borderless account in Euros it is treated as being in EU and Undev could probably send to it with no wire charge.
I saw one problem with Transferwise which is if they suddenly decide not to offer their services to a certain country, then they will simply close your account without even informing you before hand or even in any way. Other than that they are good as I heard many good reviews about them.
Also they are not a bank so your money with them is not insured. I don't expect Transferwise to go bankrupt but I read some accounts of people sending large sums and experiencing delays - that would be scary.
Come to think of it, Paypal is probably not insured.
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