update: Changes to fees (1 Viewing)

  • Topic Starter Eby
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Ebenezer Thevasagayam
Jan 27, 2021
Toronto, ON

1. Escrow Fee​

The standard escrow fee for transactions created starting May 31, 2024 PST will be under a new pricing structure. This will take effect for all customers including those with previous agreements. For customers using our APIs to create transactions, the new pricing structure will take effect at a later date, which will be announced separately.

Current Escrow Fee Pricing
Transaction AmountEscrow Fee
$0 - $5,0003.25% ($10 minimum)
$5,000.01 - $25,000$162.5 + 0.26% of the amount over $5,000
$25,000.01 +0.89%

New Escrow Fee Pricing starting May 31, 2024
Transaction AmountEscrow FeeMinimum Fee
$0 - $5,0002.60%$50
$5,000.01 - $50,0002.40%$130
$50,000.01 - $200,0001.90%$1,200
$200,000.01 - $500,0001.50%$3,800
$500,000.01 - $1,000,0001.20%$7,500
$1,000,000.01 - $3,000,0001.00%$12,000
$3,000,000.01 - $5,000,0000.95%$30,000
$5,000,000.01 - $10,000,0000.90%$47,500

2. Domain Name Holding Fee​

The holding fee charged for all Domain Name Holding (DNH) transactions created starting May 31, 2024 PST will follow a new pricing structure.
New Holding Fee Pricing starting May 31, 2024
DNH TypeMonthly Holding FeeMonthly Minimum
Lease with purchaseDomain value x 0.01%$100
Lease onlyDomain value x 0.02%$200
So if you have a million dollar domain sale Escrow wants $12,000

What would you do if your bank charged a 12k transaction fee?

I think it's absurd and I would just take a certified cheque to circumvent the 12k fee.
In most cases the end user there would be a business and a certified cheque would suffice as long as you also have a signed bill of sale.
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With those increases it may be wise to just hire a lawyer to complete transaction. Those that want to use escrow do it because they want a third party involved for a large transaction.
Once the escrow fee passes the $5k mark, it become pretty compelling to get a domain lawyer to handle escrow instead.

You don't need a lawyer, a paralegal can do it for a fraction of the cost.

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