Why Does Escrow.com Have To Be So Methodical And End Up Playing Games With MY Money?

[Digital Address]

I've noticed for quite some time now that after a domain has been transferred to the new owner and the transfer has been "confirmed" by same, Escrow.com seems to consistently delay the disbursement of funds. Like today for example. New owner "confirmed" the transfer early yesterday and Escrow has still not issued the final "Seller Closing Statement." It should have been done yesterday and the check sent on its way! And now, using the overnight service, I won't see the check until Monday--if that!

I sometimes wonder if all this stalling is not intentional--An integral part of their original "Business Plan"?--in order to get a few more pennies of interest on deposited funds--our funds!

One time Escrow completed the whole thing within just a few hours after the new owner had "confirmed" but, at the end of the day, I had not received the "tracking" email from FedEx. So next morning, I waited and FedEx never arrived. I called Escrow and they told me the check had been sent regular mail. I never, ever have used regular mail and I know for damn sure that I did not make that mistake when I originally processed the domain transaction.

Recently used Moniker.com a few times and everything went smooth as silk. And since most of my domains are already consolidated there, I guess, in the future, this is the way I'm going to go.

Escrow.com can keep its pennies.

 

[PRED]

yes i agree with that analogy
makes more sense to do via moniker for big sales, most of mine are there too

 

[Theo]

I've never been to an extreme rush to need my check right that minute. Never had a problem with Escrow.com not even when they dealt with international transactions.

 

[EM @MAJ.com]

I've used escrow for my transactions all running smooth. I don't have any issues to any transactions I have in the past though I accept bank wire transfer. If I get the confirmation in the morning, before end of the day my money is in the bank.

Good luck to you.

 

[FormerDnForumer]

Here's the reason why and it has nothing to do with extra pennies.

We all complained about escrow.com's lack of security, and so they tightened things up--slightly. Now with whois privacy and domain scams in general, they usually wait until they hear from the buyer before they wire if the whois does not match. This is actually a good thing. There are still problems with escrow.com's system relative to others, but in my experience--more than $4M in transactions to date--they're rock solid. I get paid lightning fast.

None of my business, but why not get paid by wire instead of check, where, if you're in the US, you get your money same day as closing statement?

Personally, I think you're hair splitting, and when you compare escrow.com to other forms of escrow, when it comes to payment, they're probably the best.

Just my two cents.

 

[Digital Address]

Here's the reason why and it has nothing to do with extra pennies.

We all complained about escrow.com's lack of security, and so they tightened things up--slightly. Now with whois privacy and domain scams in general, they usually wait until they hear from the buyer before they wire if the whois does not match. This is actually a good thing. There are still problems with escrow.com's system relative to others, but in my experience--more than $4M in transactions to date--they're rock solid. I get paid lightning fast.

None of my business, but why not get paid by wire instead of check, where, if you're in the US, you get your money same day as closing statement?

Personally, I think you're hair splitting, and when you compare escrow.com to other forms of escrow, when it comes to payment, they're probably the best.

Just my two cents.

Very good two cents worth! Maybe that's what I will do in the future if a buyer insists upon using Escrow.com.

 

[Theo]

Insisting upon using Escrow.com is actually a good thing. Paypal is far from secure.

 

[Seraphim]

I just completed a $30K transaction with Escrow.com, they were top notch throughout the whole process.

 

[JuniperPark]

I've noticed for quite some time now that after a domain has been transferred to the new owner and the transfer has been "confirmed" by same, Escrow.com seems to consistently delay the disbursement of funds. Like today for example. New owner "confirmed" the transfer early yesterday and Escrow has still not issued the final "Seller Closing Statement." It should have been done yesterday and the check sent on its way! And now, using the overnight service, I won't see the check until Monday--if that!

I sometimes wonder if all this stalling is not intentional--An integral part of their original "Business Plan"?--in order to get a few more pennies of interest on deposited funds--our funds!

One time Escrow completed the whole thing within just a few hours after the new owner had "confirmed" but, at the end of the day, I had not received the "tracking" email from FedEx. So next morning, I waited and FedEx never arrived. I called Escrow and they told me the check had been sent regular mail. I never, ever have used regular mail and I know for damn sure that I did not make that mistake when I originally processed the domain transaction.

Recently used Moniker.com a few times and everything went smooth as silk. And since most of my domains are already consolidated there, I guess, in the future, this is the way I'm going to go.

Escrow.com can keep its pennies.

I've used Escrow.com roughly 100 times over the past 5 years, and about 25% of those times they "forget" to pay me, even a WEEK after the deal was closed by the buyer.

When asked, they say "Oh, it's a bug, we'll look into it", forgetting that they've already given that lame excuse more than 2 dozen times over a period of YEARS.

So... they're either collecting interest they don't deserve, or are just plain incompetent.

And to the other poster, I *AM* using bank wire, they are not cutting a check.

 

[FormerDnForumer]

I've used Escrow.com roughly 100 times over the past 5 years, and about 25% of those times they "forget" to pay me, even a WEEK after the deal was closed by the buyer.

When asked, they say "Oh, it's a bug, we'll look into it", forgetting that they've already given that lame excuse more than 2 dozen times over a period of YEARS.

So... they're either collecting interest they don't deserve, or are just plain incompetent.

And to the other poster, I *AM* using bank wire, they are not cutting a check.

Sorry, but that sounds like an axe to grind. 25 Times you were not paid??? One has to ask why you would continue to use them given that scenario.

By comparison, 400+ transactions for me. Paid within a day or two 100% of the time.

Guess we all have different experiences :smilewinkgrin:

 

[JuniperPark]

Sorry, but that sounds like an axe to grind. 25 Times you were not paid??? One has to ask why you would continue to use them given that scenario.

By comparison, 400+ transactions for me. Paid within a day or two 100% of the time.

Guess we all have different experiences :smilewinkgrin:

I didn't say I was never paid, I said I wasn't paid until a week passed and I had to REMIND them to pay me. I do not recommend them or use them by choice but some customers ask to use them, and I do so only if the customer is willing to pay 100% of the fees.

How is that considered "an axe to grind"? I call that sharing the knowledge about a commonly used vendor, which THE POINT of forums like this.

 

[FormerDnForumer]

I didn't say I was never paid, I said I wasn't paid until a week passed and I had to REMIND them to pay me. I do not recommend them or use them by choice but some customers ask to use them, and I do so only if the customer is willing to pay 100% of the fees.

How is that considered "an axe to grind"? I call that sharing the knowledge about a commonly used vendor, which THE POINT of forums like this.

Hey, I'm glad you're sharing your experience. It seems highly unlikely to me that Escrow.com "forgot" to wire your money on 25 separate occasions. Four or five times would shock me, never mind 25, especially when it's never happened to me even once. Maybe we're talking about a different escrow.com. :smilewinkgrin:

I think the suggestion that escrow.com is holding back payments to capture more interest is both insulting and a misunderstanding of their business.

Anyway, to each his/her own. Dinner time.

 

[JuniperPark]

Hey, I'm glad you're sharing your experience. It seems highly unlikely to me that Escrow.com "forgot" to wire your money on 25 separate occasions. Four or five times would shock me, never mind 25, especially when it's never happened to me even once. Maybe we're talking about a different escrow.com. :smilewinkgrin:

I think the suggestion that escrow.com is holding back payments to capture more interest is both insulting and a misunderstanding of their business.

Anyway, to each his/her own. Dinner time.

Why on earth would I make this up???

I find it insulting that an "escrow" company would repeatedly "forget" to pay me, a service they are getting PAID to perform, then give the same lame excuse over and over.

 

[Steen]

In California are Escrow companies permitted to earn interest on client funds?

 

[GAMEFINEST]

not every transaction will be perfect, no company is..

come on now

 

[B.King]

Personally speaking my experience with escrow.com has been great , they are quick at securing and disbursing funds , their fees are reasonable . On the other hand ive got a 30k transaction going on at moniker , after 7 emails I have not received one reply as to what status the transaction is in , This is my first transaction at moniker and level of service is even beyond sedo

 

[IDNebook.com]

I have used escrow.com for the first time this week doing a x, xxx IDN sale , And i have to say they have been awesome. Everything went smoothe and as planed. I even tracked the check up the the very minute it arrived at the door step. I look forward to using them in the future.

 

[Digital Address]

Guess we all have different experiences :smilewinkgrin:

This fact alone is telling.

 

[PracticalURLs]

I've used them as well without any issues. I think a bigger issue for me/us would be if there weren't such a service and company available!

 

[Raider]

I did over 100K in domain sales one year and they were all processed through Escrow.com, I always got paid by check and NEVER had a problem.....Like Acroplex, I was never in hurry, sometimes the system did lag a day or 2 after the sale was confirmed, but it was no big deal, on 2 occasions I called and they said it was in process and the check would go out that day, in both instances I received payment the very next day, perhaps because I live only a few miles from there Irvine office.....Their customer support is excellent, no wait time and very courteous, I have nothing but good things to say about them.