Is Escrow.com a good way to get paid?

[BEN]

Howdy

Just in the process of selling a forum to a guy in the states and he's suggested we use escrow.com for the payment transaction.

Have obviously heard of this, and note that people on here sometimes state escrow as a payment method for domains, but have got no experience of using it and there appears to be a few sites talking about fraud and general dodgy people using it.

Normally I'd take the cash up front via BACS, but the buyer is wanting to cover his back as its for a few grand and obviously wants to protect himself. Just don't want to end up being scammed!

Any tips? Have read that I can break down payments for different parts of the site, domain, webfiles & upon transfer to the buyer, a bit of the cash is released from Escrow.

Any advise would be appreciated!

Ta
Ben.

 

[RobM]

I've used it for sales from 3 figures to 6 figures many times with no problems. You can break the transaction up into milestones and get paid for each one or you can just have him transfer the money first, give him all the info together and confirm it with escrow. They will release the money when he tells them to or when they see the domain has transferred.

 

[boxerdog]

I've used Transpact on a few occasions and would now be my preferred choice.

 

[WalkinDude]

Escrow.com works in my experience. Most recent was $7000 from a dude in the States. Ran like clockwork.

 

[accelerator]

Escrow.com is a reputable company. Here's an interview with its president if you want to know more:

http://www.domainsherpa.com/brandon-abbey-escrow-interview/

Rgds

 

[retired_member27]

One of the very few online companies that I always recommend, been using them for years.

 

[laura]

I've used Escrow.com many times over the years, never had a problem - good company!

Regards

Laura

 

[BEN]

Thanks very much for the re-assurance everyone, appreciated!

I still have the heebie geebies over this sale, which is why I'm being super cautious.

Thanks

 

[philiporchard]

Yep, used it when I bought Bands couk

No problems at all.

 

[tifosi]

Have used it in the past especially for UK-US transactions where the payment is in dollars. Never had a problem.

Only gripe was with the UK banks in their currency rates and commissions. Someone else may be able to confirm if escrow.com is now doing GBP transactions. I know they were supposed to be introducing in but havent needed to use them for a few months.

 

[foz]

Someone else may be able to confirm if escrow.com is now doing GBP transactions.

Still only US$.

Escrow.com is the gold standard for domain name transactions.

 

[grantw]

They screwed up a $9k wire transfer to me and it got lost in cyberspace, took me absolutely ages to sort it out so I've barely used them since. I'd class them as the rusty tin standard for domain transactions

Seems that was a rare occurrence though as I've never seen any other complaints about them, apart from not doing GBP.

Grant

 

[Retired_member41]

If when you transfer your domain the buyer decides not to verify they have received it just call them and they will force payment to you.

Only downside I could see is. You send transfer email and they accept it into a different name so they control it and escrow cant pay you as they could say its not been transferred to buyer.

if you are a registrar you could change details for a fee and then release to their tag to be 100%

Saying that I'd still trust escrow.com

 

[tifosi]

If when you transfer your domain the buyer decides not to verify they have received it just call them and they will force payment to you.

Only downside I could see is. You send transfer email and they accept it into a different name so they control it and escrow cant pay you as they could say its not been transferred to buyer.

I always make a hardcopy of the whois pre & post transfer. Useful if evidence of transfer is needed for whatever reason.

 

[FairTrial]

For those without a US bank account, Transpact.com is now the number one option for escrow domain/website transactions (the new gold-standard).

Not only does Transpact.com provide added protection (you can specify the exact conditions when money gets released, and when it does not), and not only is it significantly lower cost than other escrow services, but it also accepts payment in GBP pounds and Euros.

When Nick Holzherr, finalist of the BBC Apprentice 2012, wished to buy the domain name Whisk.com for his radical ingredient ordering business (first pitched to Lord Sugar in the BBC Apprentice 2012 final, and now secured by leading venture capital funding), he chose Transpact.com to safeguard his domain-name purchase.
Transpact.com allowed Nick to achieve the best escrow protection on the market today, by being able to specify his own escrow protection terms, to tailor fit the protection to his transaction.

And with Transpact.com’s top-quality service, most impressive payment time-scales, and a price over 55% lower than other mainstream services (the final cost Nick paid for escrow was under $100), Nick was more than delighted with Transpact.com’s service when buying Whisk.com.

“The great customer service I got was unexpected at the price I paid but made the transaction easy. I’d recommend them to anyone.” Said Nick Holzherr.

[Declaration - I work for Transpact.com - but it is a great service]

 

[RobM]

Yes transpact have been going a whole 2 years and are notorious for joining forums and on the first post pushing the product or pretending to ask questions about it.... oh wait.... whereas escrow.com have been going at least 18 years and are financially regulated - you decide. However I wonder if I was the only one in this thread that got a word for word sales pitch spam from FairTrial.

 

[FairTrial]

Yes transpact have been going a whole 2 years and are notorious for joining forums and on the first post pushing the product or pretending to ask questions about it.... oh wait.... whereas escrow.com have been going at least 18 years and are financially regulated - you decide. However I wonder if I was the only one in this thread that got a word for word sales pitch spam from FairTrial.

Transpact.com is authorised and regulated by the FSA (Financial Services Authority).
Transpact.com began its services in November 2009, when the EU passed the Payment Services Directive, which allowed escrow services to be regulated in the UK and EU (previously this was not possible).
So Transpact.com has been going for well over three years, and is now Europe's leading escrow company.

 

[foz]

However I wonder if I was the only one in this thread that got a word for word sales pitch spam from FairTrial.

I too got PM spam from FairTrial attempting to educate me.

 

[RobM]

Well regardless - I think the OP's question has been answered. Fairtrial has given him (and all the people he sent unsolicited PMs to) another option.

 

[BEN]

Thanks all - appreciate the advice. Am just going to ensure everything is dotted and crossed before I do anything, the buyer is happy with the milestone payment method so as far as I can see, risk is as low as possible to fraud. I'm only dubious as they upped their offer past my BIN to take out a second bidder.

Will let know know how I get on.

ps. Also had the spam PM and was reported to Admin.