A good domain escrow provider always has a great dispute resolution process

domain-escrow

I’ve said it many times before but it never hurts to say it again – if you sell a domain name for more than a few hundred dollars, you should be using an escrow service that specializes in domain names. An escrow service isn’t just valuable because of the escrow service itself, and while this is of course the primary reason why you use an escrow service, but one often overlooked service is the dispute resolution process.

While most escrow processes go smoothly, when they don’t is when you really get to see if the escrow service that you choose can get to the bottom of what happened and make sure that no side ends up getting scammed. One of the escrow services that specializes in domain names and has a rock-solid process for handling disputes is Payoneer.

Payoneer divides the dispute resolution process into two phases:

Negotiation Phase – the buyer and the seller communicate via the Payoneer Escrow website and attempt to directly negotiate a mutually acceptable settlement

Arbitration Phase – the case is escalated to our authorized independent arbitration provider, NetNeutrals, to evaluate the case and issue a binding decision

What I really like about this process is that Payoneer actually brings in a third party arbitration provider called NetNeutrals to evaluate the case. There are very few escrow services out there that go through this level of diligence and I think it says a lot about the quality of service that Payoneer offers across-the-board.

So next time you’re buying or selling a domain name, remember – don’t use Pay Pal or a bank wire because if things go wrong you will kick yourself for not using an escrow service. At the same time, if you use an escrow service without a rock solid, well documented process for handling disputes you could end up on the other side of a bad deal. To learn more about Payoneer’s dispute resolution process you can take a look at their FAQ here.

{ 3 comments… add one }

  • joe July 24, 2017, 2:21 am

    Very interesting post the other day with http://www.sedo.com in my account change bank for money transfers and even as a second option they still work with Paypal and I think the evolution should be taken into account when losing ground Paypal with Payoneer, provided It is good to have a better secure payment method for us to make your customers account.

    Reply
  • Mark Thorpe July 24, 2017, 9:15 am

    Really, at least compare Payoneer to the rest of the domain escrow services available like Escrow.com or Escrow.domains.
    Nice “sponsored” Payoneer banner right below your article and the rest of your articles as well.
    Why do some domain blogs and domain websites keep doing this?! Oh right, revenue.

    Reply
  • Viqi July 24, 2017, 10:49 pm

    I recently used Payoneer escrow, and it is pretty baaaad. Their agents have no idea what domains are and what a transfer process is.
    Payoneer does not send any reminders about the transaction step. Their agents did not even know when the transaction cancels because of inactivity.
    Payoneer does not provide phone numbers for contacting buyer/seller.
    Payoneer agents sound like they have no training at all. They did not even know how to check information on the transaction. They guy was asking for my email to send be an update on a transaction!!!
    On the other hand, I have never had any issues with Escrow.com, they were professional, know domain names and the transfer process and act fast.

    Reply

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