Domain Manage

Escrow.com for .co.uk?

Discussion in 'Selling Domain Names' started by Stephen, Jun 13, 2013.

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  1. Stephen United Kingdom

    Stephen Well-Known Member

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    Have a USA buyer who wants to settle via Escrow.com

    My experiencea few years ago was Escrow.com did not understand about .co.uk transfers and I had to abort and get client to settle a different way.

    Does anybody please have any recent experience to know if Escrow.com are set up and competent at dealing with .co.uk, its related transfer and easy and quick payment?

    Rgds
    Stephen
     
  2. Domain Forum

    Acorn Domains Elite Member

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  3. woopwoop United States

    woopwoop Well-Known Member

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    I've done many Escrow.com deals for .co.uk including one last month.

    One issue is that once the money is in and you transfer the domain, you have to choose either (1) push or (2) given password (or something like that).

    I always choose "push" and things work out. The transaction last month, I called Escrow and explained I chose push and that the buyer had accepted the nominet transfer and it was registered in their name - the guy on the phone seemed to know exactly what to do (and he understood why I was forced to select "push"): he called the guy to try and get confirmation of receipt. He didn't reach the guy but saw that the new address the domain was registered under was the same as his escrow address, so he started the clock on the 7 day inspection period. After a few days the buyer confirmed receipt and I received a cheque.

    The second issue is that they don't send the funds out in pounds. For me in the US that was perfect, but it might mean extra fees if you receive a cheque to a UK address in $ - although you should still be able to deposit it to your bank, their may be a charge and even an unfavourable exchange rate. (I think they do Euros, but seem to remember the buyer telling me they didn't do GBP).

    Anyways depending where you're at and the currency and if you have any overseas accounts etc., this might not be such a big deal.

    Despite the issues I've always felt safe with these transactions and they've always worked out.

    On a side note, Transferwise (from people who made PayPal/Skype - I think) are a really convenient way to send money between countries into different currencies - much cheaper than the bank.
     
  4. Pred United Kingdom

    Pred Well-Known Member

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    use www.ecop.com

    2nd biggest and francois runs domaining too, hands on and a nicer guy you wouldn't meet
    secure server, set up for just domain escrow, brilliant platform and way more secure than escrow, buyer uploads id etc

    and way cheaper

    win/win

    I use them all time
     
  5. bluerock

    bluerock Well-Known Member Exclusive Member

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    My recent experience of selling .co.uk via escrow.com was not good.

    Domain was plus vat and the total amount got screwed up by exchange rates and fee's etc. Vowed then never to use escrow.com again
     
  6. tifosi United Kingdom

    tifosi Well-Known Member

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    Have used escrow before. Wasn't seamless but not a major hastle. issues:

    1. they're .com focussed so don't have the right terminology. Just used 'push' and stated in additonal notes that this was a transaction through Nominet etc. No real issues.

    2. all in .uk dollars so you're at risk with the vagueries of the conversion rates AND bank charges for taking money in other currencies when moving to a uk bank & GBP. Can take a chunk off the proceeds!

    escrow.com are supposed to be bringing in GBP transactions. Reluctant to use them until then. My experience with eCOP & gbp was better.
     
  7. foz

    foz Well-Known Member Exclusive Member

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    Escrow.com - You can ask them to set up a "Transfer Account". You accumulate sales to a certain figure (e.g. US$5,000) or time period (e.g. fortnight or monthly) and they will payout upon those parameters. So if your doing lots of small sales or wish to reduce your wire transfer and bank fees, this is ideal. It's what I use.
     
  8. woopwoop United States

    woopwoop Well-Known Member

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    Often it comes down to the buyer. If they suggest Escrow and (1) they aren't trying a scam and (2) they pay the fees... then I'm going with Escrow.

    Personally I'd be more willing to try ecop now it's been recomended but if the buyer wants escrow.com then that's what I'm doing... just don't want to do anything to risk the deal (mainly with higher value deals xxxx)
     
  9. Pred United Kingdom

    Pred Well-Known Member

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    you're stuck with $ and euros for escrow

    ecop is £ too, and can draw down in paypal up to $1500 a week, which is handy if wanting some wire and paypal

    I use escrow and ecop as some buyers insist on escrow and as mentioned before I wont scupper a deal and not use but mention my first choice, usually buyer is cool as far cheaper with ecop too

    if have a british buyer and you're selling in £ just think height of stupidity to first choice suggest escrow.com, especially as british banks take an obscene percentage in exchange rate difference
    I lost 20% off what xe.com rate was when using barclays, they have their own 'special rate'
     
  10. orion

    orion Member

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    I've used Escrow before and the transactions have always worked out well. I can imagine it puts a crimp on the profits of people who deal in smaller priced transactions though.
     
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