20i Domains

Paypal payment

Discussion in 'Selling Domain Names' started by rottensoundz, Nov 4, 2020.

  1. rottensoundz United Kingdom

    rottensoundz Active Member

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    Dear all,


    I would really appreciate some help. someone is buying a domain off me, i originally stated that i only wanted a bank transfer but after alot of communication they are now saying they might cancel the transaction if we dont use paypal the sale is £xxxx i haven’t sold many domains recently and have never used paypal as i thought there was a problem with possible chargebacks and it being a digital asset


    can anyone enlighten me to whether it is a safe method for a Domain transaction


    thanks for your help

    John
     
  2. Domain Forum

    Acorn Domains Elite Member

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    articles.co.uk
     
  3. dee

    dee Well-Known Member Acorn Supporter

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    Could you offer an escrow service like Transpact ? Its pretty cheap I think. They might be worried that they wont see the domain after transferring funds, same as your worried about chargebacks ?
     
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  4. stevelook2 United Kingdom

    stevelook2 Active Member Acorn Supporter

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    You can do a referred sale via dan.com and the commission all in is 5%
    You could ask the buyer to meet half way with the charge, this way they can pay by paypal
     
  5. ian

    ian Well-Known Member

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    I wouldn't recommend using Paypal for anyone you don't know, or over a certain value as chargebacks are quite easy. Question is whether you offered it as a payment method as part of the sale (for example a sale from auction with that box ticked).

    As Dee and Steve said, try meeting in the middle with an escrow if it is important to you to ensure this deal goes through.
     
  6. Ben Thomas

    Ben Thomas Well-Known Member

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    I never recommend PayPal, they always rule in the buyers favour. My rule is that anything over £500 is paid via BACS/Escrow. But I usually ask for BACS anyway, I hate PayPal. It's literally the worst thing ever. They hold your money for ages sometimes and then they're probably making interest on it.
     
  7. Murray

    Murray Well-Known Member

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    Echoing others go with transpact or another escrow service
     
  8. rottensoundz United Kingdom

    rottensoundz Active Member

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    Thank you all for your input,

    we explored using escrow.com

    but have settled on transpact, i have phoned them and had a good chat and am happy to use them but I am a bit concerned that if there is a dispute it hinges on what is put in the terms

    I think it might be of real benefit to everyone here if we could create a standard template that could be individually modified for the terms of the transpact escrow that benefits both sides.

    Would anyone that has used transpact before be kind enough to supply a copy of their terms either to me privately or maybe start a new thread with a template in so everyone can help modify it until we have something really solid. (Obviously with certain parts private to them taken out)

    Thanks John

    PS in regards to paypal although i dont want to use them the buyer did find this info.
    https://domainnamewire.com/2020/08/07/paypal-adds-seller-protection-for-domain-name-transactions/
     
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