Monday, January 16th is Martin Luther King Jr. Day, and a Banking holiday in the US.
Financial institutions are closed, and Escrow.com will thus not be processing payments, which will resume on Tuesday, January 17th.
Recently, Escrow.com started to roll out a new verification system for account holders, requiring the provision of official identification documents. Such documents include police ID, driver’s license and passport.
These regulations are US government-mandated and while not all Escrow.com accounts participate in the initial roll-out, this will be the norm, eventually.
To participate in the account verification process immediately, visit Escrow.com/verify.
What are the benefits of this verification?
- It ensures that all parties, buyers and sellers, establish proof of identity
- It establishes the validity of location for all accounts, so that no proxy or temporary locations can be used for nefarious purposes.
There are some arguments that the provision of such information is excessive, or unnecessary.
The real question should be: As a domain buyer do you want to feel more secure about who your seller is? As a domain seller, don’t you want to be certain that your buyer has been verified and checked 100% by Escrow.com?
For more information, or to address issues and to get answers to questions, contact support@escrow.com.
Note: Escrow.com is a premium sponsor of DomainGang. We cover news and information on their products and services, which we also use.
I don’t use escrow.com much, but this is a handy reminder (Just in case). It’s nice that they have a more secure verification system, though, I have been seeing lots of tension and complaints about it being inconvenient.
Eric – I’ll take a stricter verification process over a lesser process. Those who cite it’s inconvenient tend to complain about everything. 😉