Epik Escrow is a full service in which we act as the trusted intermediary for domain transactions. By virtue of being of an ICANN-Accredited Registrar, we’re able to provide the safest Escrow experience for buyers, sellers and brokers in the domain industry.
How to start an Escrow Transaction?
1. Both parties will first need to create an Epik Account and log in.
2. After that, head over to the Epik Escrow page, and click Start Escrow Transaction.
3. You’ll be prompted to choose your role in the transaction – Buyer, Seller or Broker.
4. In the Deal Information, you can set the other party’s email as well as the payment currency, and who pays the Escrow fees. A custom message can be sent if you have a specific request about the Escrow transaction you’d like to see completed, such as partial payments. Click Next to proceed.
5. In the Domain Names section, you can set the domain, payment currency it will be bought with as well as the price. Click Submit Escrow Request to complete the transaction set up.
6. You’ll now be able to see the Escrow transaction dashboard inside your Epik Account.
7. In this dashboard, you’ll be able to monitor every step of the transaction. You’ll be notified via email when the steps are completed or when you need to proceed with any action such as transferring the domain or processing payment.
Frequently Asked Questions (FAQ)
How does Epik Escrow work?
A domain escrow transaction consists of three general and easy steps:
1. Buyer, Seller or Broker initiates a new transaction. All parties review and agree to start the Escrow.
2. The domain assets and payment are sent/transferred to and held by Epik.
3. Upon consent of all parties, Epik distributes the domain assets to the Buyer and the funds to the appropriate Seller and/or Broker.
What are the fees?
Escrow fees are as follows:
- 1.5% of the transaction amount when paying via Wire Transfer.
- 1.5% of the transaction amount when paying via In-Store Credit*.
- 1.5% of the transaction amount when paying via Masterbucks.
- 2.5% of the transaction amount when paying via Bitcoin.
- 3.5% of the transaction amount when paying via alternative cryptocurrencies (ETH, USDC, LTC, BCH).
- 5% of the transaction amount when paying via Credit Card.
- 5% of the transaction amount when paying via AliPay.
- 6% of the transaction amount when paying via Razorpay.
- 6.5% of the transaction amount when paying via PayPal.
* In the event that your In-Store Credit balance was funded with a payment method subject to higher fees, such as Credit Card, the escrow fee total will be adjusted to the corresponding payment method fee, for example 5% in the case of Credit Card.
How are fees collected?
Escrow fees are added on top of the Buyer’s payment when the Buyer is set to pay the fees, or deducted from the Seller/Broker’s disbursement when the Seller/Broker is set to pay the fees.
What’s the minimum transaction amount?
There’s no minimum transaction amount, however, there’s a $25 flat fee for transactions that are smaller than $500. A cost effective alternative for smaller transactions is our Marketplace.
What payment methods do you handle?
You can see a full list of our payment methods in this article.
May I deposit funds using more than one method?
Yes. As long as you fund your account with the necessary amount, you may use as many methods as you wish.
Will you publicize my transaction?
We will never publicize domain sales amounts. At Epik, your transaction is private.
Is my Escrow transaction private?
The only public details that are available to both parties are the email addresses. In case you wish for full privacy in transaction, contact our support to set that up.
What currencies do you handle?
We support most major national currencies and leading cryptocurrencies, including bitcoin, for both sides of a transaction.
What is your wire info?
You’ll be provided the wire information when selecting the Wire Transfer payment method. You can also contact our support department for detailed wire information.
Do you charge anything for funding my account?
No. All funding methods are free of charge. Epik actually “eats” the fees associated with payment methods in order to provide a simple and smooth experience for the Buyer.
Are there any restrictions with using this Epik Escrow?
This service is not available to residents of Idaho, Texas and Washington.
Can I cancel an Escrow transaction?
Both parties have the right to cancel the transaction without penalties until the escrow is concluded. If the Buyer has already submitted payment, Epik will reimburse.
In any case of cancellation that requires a reimbursement, Epik reserves the right to deduct escrow fees in addition to any other applicable penalties and fees, regardless of who requested the cancellation.
How do the broker fees work?
As the broker, when you set up a transaction, you’re able to set the Sell Price, and the Buy Price.
Sell Price is the price that the Broker sells the domain for to the Buyer, while Buy Price is the price that the Broker buys the domain for from the Seller.
When accessing the transaction page, the buyer will see the defined Sell Price, and the seller will see the Buy Price, while the Broker will see both.
For example, for a transaction where a domain is being sold for $100,000, and the broker’s commission is $10,000, the Sell Price should be set to $100,000 and the Buy Price should be set to $90,000.