f you’ve completed a large domain name acquisition or sale, it’s likely that you used Escrow.com for the transaction. At the present time, Escrow.com only allows for transactions in US dollars, but that will soon change.
In April of this year, the company plans to begin offering clients the ability to make purchases or sales in Euros. They will not be doing any currency exchanges, so when a transaction is started in Euros, it will be disbursed to the seller in Euros. As always, funds will be held in a non-interest bearing trust account at Bank of America.
According to Andee Hill, Director of Business Development at Escrow.com, “over half of Escrow.com transactions involve an international buyer or seller.” Based on customer feedback and statistics, the Euro makes the most sense to be used in addition to US Dollars. The company may expand into additional currencies as demand dictates. The fee structure will closely mirror the current fee structure the company uses for US Dollar transactions.
This is going to be a big deal for the company and it will save international customers quite a bit of money. They will no longer need to worry about currency exchanges, which can take several points off of both ends of a transaction. This is especially important on large deals.
I will let you know when Escrow.com begins offering to transact using Euros. I am told it will be right around the time of the Domaining Spain conference at the end of April.