Double whammy charge via domain purchase by credit card (1.Viewing)

I purchased a .ca domain via Namecheap/Afternic partner program which converted to around 10k at buy now.
I made the purchase via my credit card and the transaction cam through with a 2.5% surcharge from the bank.
So it cost me $250 to convert the money on the card.

Weeks and weeks went by and I did not receive the domain and eventually I was notified that the owner of the domain backed out. I was told I would be receiving my funds back but it took so long to get anything out of support. My money was basically gone for a month.

Eventually I got my funds back and of course the dollar was worth less and I took another hit but the most surprising thing is the bank charged me the 2.5% on the return as well which meant it now cost me a total of $500 in fees for a domain I never received.

So be carefull everyone, just because a domain is listed for sale does not mean you will get it and you may be stuck with a substantial fee and still not own the domain.

Time to get a USD bank account and credit card. Lots of Canadian banks offer them - you just need to ask.

I recently tried to buy a domain from Sedo but sale didn't go through because seller didn't own the domain. Here's what i did

If you find a domain name to buy on Sedo at a good deal, click the BIN option, select wire transfer as the payment, and ask Sedo to confirm from the seller that they indeed own the domain before proceeding with the payment. Save yourself the headache.

Click to expand...

you might have actually found something worse than high aftermarket commissions...

especially when you don't even end up with any domain or extra cash at the end of it.