It looks like Payoneer is shutting down it’s escrow service. The page is still up for escrow. https://www.payoneer.com/escrow/domain-names/
According to DomainMarketPro.com
We just received an email notice moments ago from a representative of Payoneer that “Payoneer is discontinuing our escrow business”. This appears to be effective immediately. Help is offered to “successfully transition our relationship to other Payoneer products that might support your business”. Payoneer offers “a variety of money transfer services such as virtual bank accounts and invoicing with credit card and bank transfer payments and would be happy to support exploration of our services”. The email also stated, “We know the transition away from Payoneer Escrow may not be easy, but we are here to lend guidance and flexibility where possible.”
So there is a “wind-down” period of 90 days. This means that the service is no longer offered or supported as of October 18, 2018.
Probably very hard to compete with Escrow.com even with all of Escrow.com’s new rules regarding verification.
I completed with Payoneer Escrow a lot of transactions. A couple $xx,xxx sales and the majority of the rest are $x,xxx sales. Never once a buyer complained about them or told me that he doesn’t want to use them.
For me, their branding and UX just screamed “unreliable”.
Yeah I’m guessing they didn’t get enough business to justify keeping it.
And Escrow sucks big time. What’s left?
Use direct wires and PayPal where possible. Lawyers could be an option depending on price.
escrow.com almost blew an 18k sale for me due to their ID rules. The buyer couldn’t send from an account with the exact name as the company so escrow kept rejecting the wire. After the second time they decided not to buy. Luckily I was able to convince them to deal with me directly, sign a domain sale agreement and it was done and paid with a direct wire within a day. So much easier. However most buyers think escrow.com is so secure so there is often reluctance to go this route.
I’ve had exactly the same issue where the name on the wire was somewhat different to the account. It took documents being sent and then a bunch of phones calls and follows ups before they got it sorted. It probably delayed the transaction by 24 hours but would probably have been longer without a string of phones calls.
The unpredictability of it all is what I don’t like, you can’t be sure if you are going to have to work some other form of payment whilst it drags on. A direct wire is far better at the moment.
I hope not! I still can’t believe this is true. I sent an email to Brandon Abbey asking him to confirm.
I closed sales with them in the last three months more than what I’ve closed with Escrow.com since 2007.
I have an active transaction right now and waiting for the confirmation on two more.
Buyers never complained about them or faced any issues. Also, for the discount they receive from me, they have no problem using them.
Was hoping it was only for domain holding escrow, but this is very sad news indeed.
very sad news. I like Payoneer Escrow. Odd decision. One year is not sufficient to decide if a business will or will not succeed, specially in a monopoly market.
Did everyone miss the point that one of the largest transaction this year (coins,com) was done thru www,escrow,domains ? Which is the escrow service owned by the IP lawyer – Stevan Lieberman
Escrow,com almost blew a couple deals for me. So, I only use them if the buyer requires it.
I keep hoping they will ‘wise up’. so far, they have not.
There is still Sedo.
Just found them myself. Andrew Rosener has a testimonial on their site from 2015.
Have you ever read the TOS, the terms of sale, for Escrow.Domains ? It’s not good, imho. It’s extremely poorly written and the definitions of terms for the contract are not defined worth a darn.
Also, in the TOS, when I read it, it said that they would donate abandoned funds to some strange company which, as I understand it, turns out to be them. Hmmmmm…….
I’d never use that service.
Oh no! very sad news. I like Payoneer Escrow. At here everyone can buy or sell domain names with confidence, anywhere in the world.
Escrow.com is almost, unusable!
I have lost several sales, using Escrow.com.
The frustrate and alienate the buy right from the get-go.
Yep, tell me about it!
Unfortunately, it is true. I just received the following reply from their VIP Support:
————————–
Hello Sameh
Thank you for contacting Payoneer Customer Care regarding the Payoneer Escrow company and services.
Yes, unfortunately, regretfully, it is true.
Payoneer has discontinued it’s Escrow services.
The option to create new registrations has been blocked on our website and various landing pages. Companies that Payoneer Escrow partnered with may still show an option to enroll in the service, but these too will be discontinued.
Payoneer will continue to honor our obligations to our customers and partners during this process by providing support on all existing transactions. However, the option to create new escrow orders has been discontinued.
As a global payments leader, Payoneer offers a variety of different tools to meet needs of our customers of all sizes.
As an alternative, consider registering for a Payoneer account. Whether you are a business owner, professional or freelancer, Payoneer offers multiple ways to get paid by your international clients and global marketplaces – quickly, securely, and at low cost. For more information on Payoneer’s services, please visit our Support Center.
————————–
This sucks..
Very vary bad news. Now the monster escrow.com will be monopolist again ((
What about these guys. I’m some of you must know them:
http://www.escrow.domains
“Although G&L has been providing domain name escrow for many years and will continue to do so by hand on custom and complicated domain name transactions (1031 domain exchanges, multi-party domain name swaps, three or more party financed transactions, etc.) the simpler escrow transactions have, as of late, gone to the larger and fully automated escrow houses.
In an effort to compete and lower prices for such transactions G&L is now offering a more automated system at https://escrow.domains.
Included in the system is the ability to see all emails in and out of the system when not confidential, the ability to upload your base contract or to use contract templates provided for free as well as an affiliate system for those of you who would like to refer transactions to us.”
I see there is a 2015 testimonial on their site from Andrew Rosener accusing one of them of practicing cannibalism. :O 😀
It’s a pity that the only reliable competitor for escrow.com is out of the business.
There are other escrow companies dn.com, sedo.com, safefunds.com, 4.cn, snapnames.com – escrow.com is not the only one.