1. Not a great step for one-off buyers that don’t want to hassle with submitting personal documents.

    I’m likely going to just use Epik Escrow going forward.

  2. Similar experience here. Our business account verification took only 3 minutes.

    It definitely gives a nice level of comfort to anyone submitting documents when they hear back in a timely manner.

    Hopefully first time users get approved quickly as well.

  3. Adam – Most buyers are “one off” cases. I would not want to deal with a buyer who’d refuse to get verified; after all, my own verification ensures that the buyer is secured.

    Ian – Nice!

  4. 4-5 minutes for my verification.

  5. Verification literally took less than 5 minutes for me to do. It took me more time to get my all-in-one printer to connect to my new computer!
    It’s really not to bad.
    People want to complain when their domains are stolen but wont take 5 minutes to verify who they are! lol
    Now, will the buyers be scared off is another questions….

  6. I find that the requirement is fundamentally intrusive. People would understand if they were opening a bank account, but they just want to buy a domain (a one-off transaction). Do you even need to get verified like this when you buy a car ?

    In these days of hacking and identity theft, people are reluctant to submit personal data for very good reasons. I truly doubt’s IT systems are any more secure than the OPM’s.

    Of course,, like any company is subject to ever-increasing compliance demands. Terrorism money laundering blah blah.
    Blame the government as always.

    Time to get your own merchant account.

    I don’t think it helps us in any way, it’s just a way for to a. comply with some regulatory requirements and b. vet the payers (understandably they have to minimize the monetary risk on their end).

    Soon they will be asking for DNA samples and I am hardly kidding.

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