WTF? Escrow Services Need A Serious Reboot!

[Dabs]

I saw one website list 3.25% Standard, 6.5% Concierge, for transactions up to $5000.

For $100,000.00, $890 Standard Fee, $1,780 Concierge Fee.


Another one has real estate, $500,000 sale the escrow fee is $2300 total (split between buyer and seller.) Not including title insurance fees, notary fees, sub-escrow fees (what's that?), loan ...etc.

I knew a banker that only got 0.5% as escrow fee. But the transaction was about a billion USD. Friend of my father, who then used part of that money to buy an investor visa to another country.

[Bfljosh]

I can do escrow for half the price.

I am here since 2013.

[Lauda]

I saw one website list 3.25% Standard, 6.5% Concierge, for transactions up to $5000.

Our fees are therefore not unreasonable.

I knew a banker that only got 0.5% as escrow fee. But the transaction was about a billion USD. Friend of my father, who then used part of that money to buy an investor visa to another country.

I'd be fine with a 0.5% fee on a $1 Billion transaction too.

I can do escrow for half the price.

I am here since 2013.

History of trading: Not found. History of escrow: Not found. Choosing you would be very wise.

[Dabs]

I may be mistaken, I remember it was half of one-tenth of a percent. So maybe add another zero. Still, I'd be fine with that.

[aTriz]

What about bL4nkcode . Pretty sure he's free.

[Reynaldo]

https://bitcointalk.org/index.php?topic=2162495.0

[monbux]

Was BTC not meant to stop that? Is everyone here to gouge every single last fucking dollar they can?

I need to find a legit escrow service here who is not so fucking money hungry they make more than either party involved. Is there such a thing? Do I need to start doing escrow? Hell I been here longer than A LOT of folks and my reputation is impeccable.

Sorry that you feel that way. No one was and is stopping you from using an escrow that charged fees that you were happy with. No one is forcing you to use someone's services.

You need to understand that most of us are quite busy, we have other jobs. I feel the fee I asked for was more than fair. For all the shit we have to deal with, and all the scams we have prevented. I've been involved in many cases where a client's account gets hacked DURING the transaction, and the hacking either asking for a refund to an address or asking for the release of bitcoins, claiming that the goods/services were received. All of which have resulted in the money being sent to the rightful party. I think for that, it's reasonable that we charge a fee.

However, there is some right to what you are asking for. Since the increase in the bitcoin price, I will see to reduce my minimum fee.

[Lauda]

I may be mistaken, I remember it was half of one-tenth of a percent. So maybe add another zero. Still, I'd be fine with that.

You need to stop drinking so much when Bitcoin hits new highs.

You need to understand that most of us are quite busy, we have other jobs.

You being probably one of the busiest escrows given your response time.

Sorry that you feel that way. No one was and is stopping you from using an escrow that charged fees that you were happy with. No one is forcing you to use someone's services.

Definitely. There are various cases of annoying users though which sometimes makes me feel like escrow is a type of 'classic support' job.

However, there is some right to what you are asking for. Since the increase in the bitcoin price, I will see to reduce my minimum fee.

Charging things in USD is counter intuitive to the idea behind Bitcoin, which is why I'm hesitant to changing it to quickly.