Domain Name Fraud and How to Spot It

Domain Name Fraud and How to Spot It

Domain Name Fraud and How to Spot It

Reselling domain names online can be very profitable. Business owners are often willing to pay large sums of money to secure the perfect domain name for their site. But it can expose you to great risks if you are not able to secure yourself from bogus buyers. There are times when people will try to manoeuvre you into transferring the domain name to them without shelling out any money in exchange - usually those who intend to resell the domain name to other parties in turn. If you don't take adequate defence measures, you could fall victim to one of these larcenous purchasers.

One technique to safeguard yourself when reselling domain names online is to use a domain name escrow service. An escrow service makes certain that neither you nor the purchaser has control of the domain name and the funds simultaneously so that both of you can be assured about the deal. With an online escrow site, you will still display your domain names on your own web site or an auction site, but if a purchaser intends to buy one of your domain names you sew up the exchange on the escrow site where everything can be facilitated securely. The escrow firm makes certain both consumer and vendor are protected and gratified.

A domain name escrow service safeguards you by requiring payment from the shopper before ownership of the domain name is transferred. Escrow services levy a modest fee for registering your exchange with them and they act as a neutral third party in the exchange. Instead of paying you directly, the buyer remits money to the escrow service which then keeps the payment until the purchaser certifies that the domain name has been transferred. The escrow service will verify that the payment is valid and not a spurious remittance before giving the signal for you to transfer ownership of the domain name. Once the shopper certifies that the domain name has been conveyed successfully, the escrow service will transfer the funds to you.

This technique of reselling domain names shields the purchaser as well because you don't receive payment until transfer of ownership has occurred. You don't have to feel uneasy about charge backs, bad checks, or simulated payments and the shopper doesn't have to fret about whether he'll get his domain name after having paid for it. Very often, the increased confidence that buyers have when using a domain name escrow service promotes more sales and higher-value sales, which mean higher profits for you.

From time to time, an unethical consumer will attempt to cheat you of domain names by going through a bogus escrow service. The phony site misleadingly informs you the purchaser has deposited a payment and authorizes you to convey the domain name. Because it's a fraudulent service, you end up empty handed and with no more control over the domain name. If a purchaser presses for the use of an escrow service for the transaction, ensure it's legitimate. Search web comments, articles and directory listings to make sure the business is real. You can also verify from a WHOIS database to be sure the owner of the web address is the escrow service. Also make sure the site has a URL (address) that begins with "https://," which indicates the site is protected.

One very reputable domain name escrow service is PayPrimo.com. This escrow service not only has high security measures, like minimum 128-bit data encryption and sophisticated security defences to safeguard your data, but it also runs a dispute resolution service to provide a medium where you and the shopper can iron things out if a problem comes up. Authentic domain name escrow services, like PayPrimo.com, also use familiar and traceable money transfer options, like credit and debit cards.

Your online escrow experience will also be greatly improved if your escrow service displays features like a variety of payment options, including credit cards, debit cards, and wire transfers, along with comprehensive help guides, step-by-step transaction instructions, and a simple and versatile interface. If you are selling domain names to people in other countries, it will be more convenient if your escrow service allows and transfers payments in multiple currencies, particularly EUR, USD and GBP, like PayPrimo does. In addition to cutting edge security and easy-to-follow features, PayPrimo also offers an affiliate program that makes it simple to use PayPrimo with all your online transactions and generate income for doing so.

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