Escrow.com payment delay

[silverdom]

Hi,

does anyone had a 10 days delay with Escow Bank Wire after
the sale ?

The answer like: "I have checked with our closing department and the wire has not been returned" very very disturbing.
Means, if they never get the wire returned i will never get the funds ?

It looks like there is no Escrow service you can rely on anymore.

 

[DomainsInc]

I would try calling your bank.

 

[NetworkMsia]

So far I have never had any problems with them.
Did you double check that all your bank info provided is correct ?
Did the other guy confirmed he has received the domain ?

 

[silverdom]

Yes, the guy received domain without any problem.

And i had no problems with Escrow before, it takes no more than 1-2 days for wire to arrive to my bank, but this time - it's still not arrived for unknown reason.

I'm using online banking and it's very easy to check the transactions.
Will try to call to the bank in monday, but i doubt it will help.

 

[Stian]

I have never had any issues with Escrow either. Have you received the closing statement from them? I have an incoming Escrow transaction now btw, expect it to be in my bank account tomorrow. I will let you know, should it be delayed.

 

[Steen]

Which country is it going to? Some countries can take some time but most are very quick.

It is also possible that your bank is holding the funds for risk management reasons. Is the incoming amount unusually large compared to your normal account activity?

If you are unable to get any answers Escrow.com can put a "trace" on the wire although it will cost them money so they will likely not want to.

 

[Theo]

buyer ---->wire ----> Escrow.com ----> seller
seller ----> domain ----> buyer

or, if you use Moniker escrow:

buyer ---->wire ----> Moniker ----> seller
seller ----> domain ----> Moniker ----> buyer

So Moniker escrow is more secure.

 

[silverdom]

Found the prob today with my Bank. Bank in EU btw.

They found exact sum with wrong Acc. Number specified.
Now, i need to ask Escrow to fix the payment details, will send them an email and
will post here what's going on with it.

Abit disappointed , how is possible to flick up the payment details if the same info were used before...

 

[James]

Found the prob today with my Bank. Bank in EU btw.

They found exact sum with wrong Acc. Number specified.
Now, i need to ask Escrow to fix the payment details, will send them an email and
will post here what's going on with it.

Abit disappointed , how is possible to flick up the payment details if the same info were used before...

Sounds like a pain in the a** At least the funds are "found" and hopefully they can expedite the transfer to your account.. keep us posted
G/L

jim

 

[NetworkMsia]

glad you found out the problem, and hope they get you your funds quick.
did you enter in the details manually or using the automated system?

 

[silverdom]

Everything is fixed now.

Thanks all for your support.

Ok, things happen, but i appreciate how fast everything was fixed.
At least you are not lost with your own probs, how it's usually may happen with big
companies.

All the best,
Guy

 

[dominator]

buyer ---->wire ----> Escrow.com ----> seller
seller ----> domain ----> buyer

or, if you use Moniker escrow:

buyer ---->wire ----> Moniker ----> seller
seller ----> domain ----> Moniker ----> buyer

So Moniker escrow is more secure.

exactly

moniker and sedo are much more secure than escrow .com

(they may be slower, but more secure)

escrow should improve it asap

 

[NetworkMsia]

Moniker escrow is real quick to receive the payment and send the funds out.

 

[DomainsInc]

exactly

moniker and sedo are much more secure than escrow .com

(they may be slower, but more secure)

escrow should improve it asap

Much more expensive than escrow.com though. Sedo is 10% and I imagine moniker is the same, if not 15%, where as escrow is 3.25%.

 

[Commerce]

I have never had a bad experience with Escrow.Com and I was glad to learn that you got your problem fixed.

It seems remarkable that your bank (and not Escrow) ever actually allowed your funds to be transferred to some other account given your named account and an incorrect account number.

I would say the error ultimately falls with your bank, after all, there are double checks on wires to help to ensure that events of the kind you just went through do not take place.

In other words, even if the digits got transposed or munged in the wire room at Escrow.Com (which could happen when humans are involved), your bank should have seen that "Carlos Dopey-Hiney" attached to the munged account number was clearly not your name. That reality should have raised a red flag to have the transaction checked by your bank back to Escrow.Com to verify the account number through the tracking ID that banks use to manage the wire system.

As I said, I've never had an issue with Escrow.Com - always fast, always reliable and unless it is a direct wire transfer transaction where fees are paid prior to domain transfer (which requires a high level of trust on the part of the buyer), I would always use them.

-Commerce

 

[dominator]

buyer ---->wire ----> Escrow.com ----> seller
seller ----> domain ----> buyer

or, if you use Moniker escrow:

buyer ---->wire ----> Moniker ----> seller
seller ----> domain ----> Moniker ----> buyer

So Moniker escrow is more secure.

guys, just look at it one more time

the transaction with escrow .com is as secure as without it
no benefit for sellers
only for buyers

 

[SonnyBurnett]

Moniker escrow is good.

 

[zangief]

Moniker's service is more "domainer friendly".

 

[John Mauriello]

Moniker Escrow Fees :

Domain Sale Price in US Dollars Basic Escrow Fees in US Dollars
$1 - $500.99 $50
$501 - $1,000.99 $75
$1,001 - $2,000.99 $99
$2,001 - $3,000.99 $125
$3,001 - $5,000.99 $149
$5,001 - $7,000.99 $175
$7,001 - $10,000.99 $200
$10,001 - $15,000.99 $250
$15,001 - $20,000.99 $300
$20,001 - $30,000.99 $350
$30,001 - $50,000.99 $450
$50,0001+ .0093 of the total