Hello and Assalamo Alaikum,
As mentioned in my last post about having bad experience with Escrow.com for which I promised to share how it actually was a sour experience for me.
So far I have initiated transactions in U.S Dollars and no buyer had any objection to date. For the recent sale of Enkla.com, I did the same way but for the first time the buyer made the payment in Euros. As buyer made the payment and both of us (buyer and seller) were in regular touch with Escrow team to find out when the payment will reach to them and it took
20 (correction – 15 days) for them to inform us that we have received the payment but since it’s in Euros, the funds will be sent back.
Both buyer and seller requested them to convert the funds or at least mention somewhere clearly while during the transaction but they didn’t do this favor for us even though they took too long just to share this update and gave me the link to one of their FAQ –
Where they have stated “Escrow.com regrets that we are unable to modify the currency type once it is selected.” and “Escrow.com is unable to offer currency conversion”. If they will keep such attitude towards their clients, get ready to lose business.
Since Brandon Abbey sold and left the company, after that I have read many people complaining about their service.
Rather than creating confusion for both parties and losing time and money in such cases, better they keep it simple by having just one currency for transactions in USD. If not, they should either clearly mention during the transaction or have some flexibility by providing currency conversion service.
There will be some who will say that buyer should have read the FAQ before sending the funds but that doesn’t happen in every case and anyone while facing any difficult situation goes to read FAQ and not simply to learn A-Z of that particular website.
My regular readers must have seen that I had kept Escrow.com logo for around 3 years and I was listed as one of their partners but since the management changed, they removed my website logo from their partner’s list without any prior notification which shows how good and efficient people are working at Escrow.com. I asked and no concrete reason was provided and informed me that we shall put up your website logo again once we launch our new design. I’m sure that’s not going to happen early but I still kept their banner for some more months but couple of weeks back removed it. They have took off the logos of many other companies and surely won’t have informed them like to me.
Doesn’t mean I will stop using their service completely right now but I shall start looking out for alternatives and one of that I see is Payoneer Escrow.
Care to share your thoughts? Anyone had such incident in past or would like to share some other bad experiences with Escrow.com?