Escrow company’s already low fees drop for customers transacting in U.S. dollars.
I know a couple things about Transpact: a handful of readers have used it for domain name escrow and its services are ridiculously inexpensive.
Today I got an email from the company about a pricing change for U.S. dollar transactions.
Transactions up to $2,500 are now $9.99 per party per transaction with a $15 payment fee for any U.S. dollar disbursement over $100. So basically any transaction up to $2,500 in U.S. dollars is about $35.
Previously is was $24.99 per party.
That’s a seriously low fee. But it’s prices are even more out of line with industry norms for big dollar transactions. There are no percentage fees. There’s just a “large payment” surcharge.
For example, an $18,000 transaction would have the same $9.99 per party fee, plus the $15 payment fee, plus a $14.72 large fee surcharge. So that’s only $49.70.
Euro and Pound transactions remain cheaper. Transpact says this is because making a payment in Europe in Euros up to €50,000 is effectively free by EU law.
Given the somewhat complex pricing structure, it would be nice if the site had a fee calculator built in.
Rich says
Thank’s Andrew for the tip.
I will try it next time,sure is cheaper.
WebsiteToSell says
When you add escrow fees on top of auction fees the price of selling a website or domain name can be staggering. This could be a huge advantage to buyers and sellers. Will look into working with this Escrow Company.