EscrowDNS.com - the new standard

[Rockefeller]

I'll be trying EscrowDNS this week

Thanks for using our service. Your payment went out via overnight mail today.


Rock

 

[impulseleads]

I just did a deal through the service and it was fast and easy

I would recommend you guys give it a try!

The cost is a bit better and the speed is 100% better
I am glad their is another escrow service out their, at least domainers have a choice and I expect the service will get better and better as more and more domainers give their feedback on the service

 

[domainding]

I'm all for verification and anti scamming, I've just joined DNF and have been bowled over by the amount of people that have been ripped off by scammer scum.

However, what about domain transactions that are relatively low, for example: there would be $25 escrow fee + 4% payment method fee for buyer and seller fee of $30-$60 for example on non-US transactions (if seller doesn't want to wait 3 weeks for regular mail).

I can obviously see the benefits of escrow on mid-large domain transactions, and I'd have no problem sucking up the cost.
But surely it can't be worth doing for any transaction less than several hundred dollars. Neither buyer or seller will want 30/40/50 percent of
their money eaten up in escrow fees.

Or am I missing something (which is more than possible, I'm sleepy and new here) ?,
Do domainers have to take more of a chance with sellers on lower transactions ? Maybe someone should start an escow service for low budget domain sales.

As a new member to DNF, I'm now genuinely worried that I won't be able to buy any domains here without getting hit up for large percentage escrow fees, or not getting any at all because of not being trusted yet by experienced members.

Curse the scammers, they're ruining it for everyone.

Thanks for reading.

p.s. I'm not in any way criticising escrowdns or their service, it'll no doubt prove valuable to most people (and hopefully to me in the future), and I fully understand that they're not a charity, it's a business with costs to recoup and profit to make just like any other. And it's great to hear of a service that has an actual living breathing helpful person on the end of a phone, it sets them above many internet services.
All I'm doing is asking is there another way for the little transactions.

 

[Rockefeller]

I'm all for verification and anti scamming, I've just joined DNF and have been bowled over by the amount of people that have been ripped off by scammer scum.

However, what about domain transactions that are relatively low, for example: there would be $25 escrow fee + 4% payment method fee for buyer and seller fee of $30-$60 for example on non-US transactions (if seller doesn't want to wait 3 weeks for regular mail).

I can obviously see the benefits of escrow on mid-large domain transactions, and I'd have no problem sucking up the cost.
But surely it can't be worth doing for any transaction less than several hundred dollars. Neither buyer or seller will want 30/40/50 percent of
their money eaten up in escrow fees.

Or am I missing something (which is more than possible, I'm sleepy and new here) ?,
Do domainers have to take more of a chance with sellers on lower transactions ? Maybe someone should start an escow service for low budget domain sales.

As a new member to DNF, I'm now genuinely worried that I won't be able to buy any domains here without getting hit up for large percentage escrow fees, or not getting any at all because of not being trusted yet by experienced members.

Curse the scammers, they're ruining it for everyone.

Thanks for reading.

p.s. I'm not in any way criticising escrowdns or their service, it'll no doubt prove valuable to most people (and hopefully to me in the future), and I fully understand that they're not a charity, it's a business with costs to recoup and profit to make just like any other. And it's great to hear of a service that has an actual living breathing helpful person on the end of a phone, it sets them above many internet services.
All I'm doing is asking is there another way for the little transactions.

I wouldn't recommend using an escrow service for anything under $100. There is a minimum of $25 because of the amount of work that is involved with each transaction...hours on the phone, on the computer, and dealing with domain name transfers are just scratching the surface. There isn't a $25 min + 4% fee, there is a 4% fee with a minimum of $25, please your disbursement fees, etc.

 

[domainding]

Sorry I should've been more clear, when I said 4% I meant that on top of the £25 there's an additional buyers fee of 3.9% (I rounded up)for using paypal or credit card added to the total cost of transaction, or am I getting that wrong ?, there's not an additional payment method fee.

Incidentally, please don't be offended, I hope I made clear in my post that I support your service. Anything that combats fraud and scams has got to be a good thing and I look forward to using your service. And I do recognise that there's a lot of work involved and you're not doing it just to fill your daytime.

But for me, anything under the $250-300 wouldn't be worth it, especially if I had a high turnover. Actually that's probably me just propogating the stereotypical tight-fisted Scotsman that I am

Sincerely, I hope escrowdns takes off and does really well for you, it's great to know a company is run by someone who knows their users so well, and has a 'face'. I take my hat off to you for getting a project like that off the ground.

 

[Rockefeller]

Basically you have an escrow fee which is in place for our services. You have a buyer's fee because we are charged to receive that payment everyway besides paper check. You have a seller's fee because we are also charged to disburse the payment to you. All of the fees for the buyer/seller payment/disbursements are what we are charged, we make nothing on the fees.

 

[domainding]

Thanks for taking the time to explain it to me, and good luck with the site. I'll be signing up shortly.

 

[Rockefeller]

Thanks for taking the time to explain it to me, and good luck with the site. I'll be signing up shortly.

No problem.

If you need any assistance feel free to contact me directly.

 

[James]

No problem.

If you need any assistance feel free to contact me directly.

PM sent.. a few questions on my end

jim

 

[Rockefeller]

PM sent.. a few questions on my end

jim

James,

If you have a question, more than likely there are other people with the same question. As stated before, we only allow paypal as a payout method in certain circumstances. Paypal is a very risky tool for merchants. If your buyer pays via paypal, we can pay you with paypal. If we have the funds in paypal, we can also pay you via paypal. With your transaction, your buyer had paid via credit card which will take 5-7 days to reach us. Since we do not have the funds in our paypal account to pay your settlement it's just too risky for us to have the funds come out of our bank account before your buyer's funds are in the bank account.

It seems that people think we can bend over backwards (not you James) and sometimes it's just not possible. We try to do everything possible to make it a smooth and fast transaction, but we also have to use common sense. If something were to happen, a chargeback, a dispute through paypal or anything of that nature..we'll be the ones that have to cover the cost.

We do everything possible to ensure a good transaction just the way you want it...but's its just not always possible.

We've also instituted a new paypal policy. The paypal limit is $5,000 including paypal fees. The buyer must download and fill out a paypal authorization form in order to send us a payment through paypal. Due to fraud, we have to institute these measures. It has turned a few buyers away so far, but most of them understand.

 

[theinvestor]

I will be signing up shortly as well.

 

[James]

Well my first transaction with EscrowDNS went very well .
The "agent" handled all the "pains" of communications with a non-domaineer.
Well worth the fees just for that

Thanks,
jim

 

[Rockefeller]

Just wanted to let everyone know that we're now offering a private escrow service. If you're looking to purchase a domain name from someone but do not want the seller to know who you are, email customer support and let them know. We will setup a private transaction with the seller and your name and company will never be released.

 

[Rockefeller]

We recently added a few more features:

We now have the ability to conduct private escrow transactions.
We're now BBB certified.
There is also a transaction history located in your account where you can print or save PDF files of all of your transactions.

 

[domaingenius]

Rockefeller, are you going to introduce other currencies , such as Pounds Sterling and maybe Euros ?. Thats another thing I dont like about escrow.com is fact have to do things in US$ and can find lose out, or gain, on currency fluctuations. And do you make payment by wire transfer to UK ?


DG

 

[dominator]

It is a new service, so allow him some time for all these improvements...

For Euros, an account should be opened in the EU to minimize the fees, probably in Germany (many domainers are there). That would avoid wire transfer fees for most European deals. (If you need assistance, contact me.)

 

[Rockefeller]

Rockefeller, are you going to introduce other currencies , such as Pounds Sterling and maybe Euros ?. Thats another thing I dont like about escrow.com is fact have to do things in US$ and can find lose out, or gain, on currency fluctuations. And do you make payment by wire transfer to UK ?




DG

It's just about impossible to accept all types of currencies. We do accept international credit cards, international wire transfers and you could also pay via paypal in a foreign currency but you would have to pay the exchange fee through them. As for disbursements, we do send international wire transfers as well though the appropriate wire transfer fee applies. All of this information can be found on the site.

 

[Rockefeller]

Received a few PMs saying that EscrowDNS wasn't resolving...this is because of one reason only...Godaddy hosting is horrible. I have moved the domain name to a better web host and everything will be switched over today. The site is currently up and we've only been having sporadic, short downtime, but this is unacceptable for me. Everything will be up on the new system by tomorrow.

 

[James]

Thanks again for another prompt transaction..
The communication ..even on a Sunday turned probably what would of been a 2-3 week transaction to a few days..start to end.
One of these days I'll have a "easy" one for you and the staff


jim

 

[Rockefeller]

We are now able to offer cashier's checks and wire transfers in foreign currency to our sellers. Thanks again.