Business question about Escrow.com
 

Hi,

If someone buys a domain name from me, and pays by credit card through escrow.com and then does a chargeback once the doman name is transferred or uses a stolen card, does escrow.com still pay the transacton to me? Is part of their fees guarantee payment?

Thanks, Mitch

Good Question. I've used Escrow many times, but every time I have the buyer, or myself uses a bank acct. not a CC.

I don't think you would still get the money if they use a stolen card. They wouldn't process the transaction if its stolen (they take a couple days to verify cc payments). As for chargeback, good question. I would imagine if the buyer got the domain and you got the money in your account and closed the transaction it would be up to them to dispute the chargeback. Also cc's are only allowed to be used for smaller transactions, like 5k max i think.

they only take credit cards on what they call Premier Service and there is a 5k limit so I assume that helps protect them somewhat. if you call them I am sure they can give you the full scoop.

I think they protect you. I mean, that is the point of escrow. Contact them to be sure.

Thanks for the information. I will call them.

Mitch

I have used CC for a 25k transaction with no problems.

Then they have changed the rules since you used them. From their website:

https://escrow.com/support/faq/index.asp?sid=2&qid=14

Mitch - in order for them to accept the transaction, they need to fax in a copy of the card (back and forth) or front of card and a piece of ID with their
signature on it: https://www.escrow.com/support/fax_in_form.asp

They do provide info on what happens if the domain seller doesn't transfer the domain (but not the other way around):
https://www.escrow.com/myescrow/incl...ex2.asp?qid=67

Here's the FAQ for domain name purchases.
https://www.escrow.com/myescrow/incl...dex2.asp?sid=9

All payments are final but they don't elaborate on 'worst case scenarios'
Maybe 'trust' accounts are protected from 'chargebacks'? Also, I'd assume that if it was their error and you've received your funds, that they are responsible for the charge (since they have to do the due diligence).
http://www.escrow.com/resources/EscInstructions.asp (see #14)

Thanks much for the information.

Mitch

check the ip & make sure they are not from turkey....or using a gmail

lot of that shit going around

hey man were you the one selling a domain to a guy from Turkey few months ago?

how did it go? did he scam you indeed?

Best is to use wire,avoid credit cards at all cost.

I also recommend the wire transfer :thumbsup

My pleasure :)

Correct sire.