- Nov 4, 2020
I have discussed on a number of occasions that I traditionally only pay in Canadian funds for .ca domains.
Unless I buy the domain from Sedo or Godaddy I do not deal in USD on .ca domains.
Most people also know that I process almost everything on my inhouse merchant account via credit card.
I am finding myself using Interac e-Transfer more and more.
Because 3k per day / 10k per week is the limit when I buy I end up paying 3k per day until the domain is paid. About half way through I ask for the domain to be transferred.
For me it's a nominal savings of about 3% in credit card fees when I sell and significantly more if I use paypal.
I don't understand why more Canadians are not using e-Transfers to do the transactions, it's like pulling teeth getting people to understand the savings and that it goes directly into your account.
There is one thing you have to do though....
I buy domainX.ca for 9k
On each e-Transfer I use the note...
1st Payment of 3k total 9k for domainx.com
2nd Payment of 3k total 9k for domainx.com
3rd Payment of 3k total 9k for domainx.com
This is a must so you have a safety net should there ever be a dispute of what a payment was for.