This is part of an ongoing series dedicated to the tools I regularly use and recommend as an Internet marketer.
What the heck is it?
Escrow.com is, as its name implies, an online escrow service. Think of it as a virtual and impartial transaction middleman who protects both the buyer and seller of real or virtual assets. If you're planning to buy a domain name from a third party, for instance, a service like Escrow.com helps you avoid being ripped off, above and beyond the protection afforded by a contract or letter of agreement. Escrow.com does not release the funds to the seller until you, the buyer, have verified that the domain name transfer has been successfully completed.
Why do I like it?
Although it can be used for assets other than domain names, Escrow.com has a dedicated domain name purchase management service that is very polished and very straightforward to use. Whether you are the buyer or the seller, Escrow.com gives you the confidence to smoothly execute important e-commerce transactions with people around the world.
Where do I get it?
When you are ready to transact, you can open an Escrow.com account at www.escrow.com.
How much does it cost?
Escrow.com charges a service fee on each transaction, which can be paid for by the buyer, the seller, or split between them both. Fees vary depending on the purchase price and level of service, however the fee for a typical domain name sale is approximately 3.25%. This, in my opinion, is a small price to pay for piece of mind.
While Escrow.com conveniently accepts payments through many different means, including credit cards, the best way to make payments into this service is through a bank wire transfer.
Domain name expert Bill Sweetman is the President & Lead Ninja of Name Ninja, a boutique domain name consulting firm that helps companies acquire, manage, protect, and profit from their domain names. Bill has provided strategic domain name advice to major companies around the world for over 20 years.
Contact Bill | Follow Bill | Subscribe to this Blog | Summon the Name Ninja