Flippa Escrow FAQ

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Flippa is excited to offer Flippa Escrow as our preferred form of payment for all Flippa customers. Here are some frequently asked questions:

 

Is Flippa Escrow free?

Yes, Flippa charges no fees to use Flippa Escrow.

In certain circumstances, there will be some small transactional charges that are applied by our credit card and banking partners:

  • When making payment through a debit or credit card, there is an additional 2.9% fee charged to the Buyer.
  • When choosing to be paid by an international wire transfer, there is a $25 fee to the Seller to cover our banking partner's associated charges.

 

Why do I have to enter my bank account details and personal information?

Flippa Escrow complies with industry-standard KYC (Know Your Customer) and AML (Anti-Money Laundering) checks for the safety of all of our customers. You can see more on KYC and AML here:

https://en.wikipedia.org/wiki/Know_your_customer

https://en.wikipedia.org/wiki/Money_laundering#Enforcement

Once your bank details have been added and the KYC checks are completed, you can then enter your PayPal address if you would prefer to be paid via PayPal instead and avoid the $25 wire transfer fee.

 

Why do you want additional proof of my identification?

Keeping our global marketplace safe and complying with all applicable regulations are our paramount concerns. 

We may ask for proof of additional identification documentation, e.g. photos or scans of your passport, driver’s license, or other government-issued photo ID, and a photo of you holding the same document as part of our risk abatement and compliance processes.

All information and photos supplied are secured (TLS) and encrypted (AES-256), and are only used for the purpose of verifying your identity.

 

Which payment methods do you accept?

Flippa Escrow currently accepts bank or wire transfers (often known as ACH or SWIFT or transfers that need an IBAN) and major debit/credit cards for transactions where the Seller is outside of India, Indonesia, or Pakistan.

Please note that buyers will incur an additional 2.9% fee for paying with a debit or credit card.

Some transactions, particularly those of a higher dollar amount, will require additional identity verification as noted in Section 3.1 of our Terms and Conditions, https://flippa.com/termsandconditions.
 
 
What is an IBAN?

An International Bank Account Number or IBAN is is an internationally agreed system of identifying bank accounts.

https://en.wikipedia.org/wiki/International_Bank_Account_Number

Most banks in the European Union require an IBAN to receive funds, as do many in the Middle East and the Caribbean.

Please ask your bank if your country and bank provide an IBAN, as it will make the process of receiving your funds from Flippa Escrow faster and more seamless.
 
 
Can I pay into Flippa Escrow over a period of time?

No, we currently don’t support milestone transactions. Additionally, our card processors don’t allow one transaction to be paid with multiple charges to the same card.
 

How can I be paid for my sale?

If you have not used Flippa Escrow before, you will need to enter your bank account details for your identity verification first, and then you may enter your PayPal email address.
 
If you have already entered your bank details in a previous transaction and were paid out to your bank account and now wish to change to PayPal instead, we’re happy to help. Please send a note with your preferred PayPal account email address and your Flippa listing number to [email protected] and we will update it for you.

 

How can I be paid by PayPal?

If you have not used Flippa Escrow before, you will need to enter your bank account details for your identity verification first, and then you may enter your PayPal email address.

If you have already entered your bank details in a previous transaction and wish to change to PayPal instead, we’re happy to help.

Please send a note with your preferred PayPal account email address and your Flippa listing number to [email protected] and we will update it for you.

 

The phone number for identity verification is incorrect. How can I change it?

Flippa and Flippa Escrow identity verification currently use different systems. If you've changed your phone number permanently since verifying it on your Flippa account, please send a note with your updated phone number to [email protected] and we can get your new phone number verified and update it for you in the Flippa Escrow process.

 

How long will it take for my funds to arrive in the Flippa Escrow vault?

If you have successfully paid by debit or credit card, the funds should be available immediately. 

However, if needed to validate the transaction, we may request further identification for credit card payments, similar to our KYC requirements. 

If you're paying via a bank/wire transfer (domestic USA or international), the funds usually clear in our escrow account between one to four days depending on your bank’s processing speed and if any intermediaries are used.

 

How long will it take to be paid for my sale?

If you have chosen to be paid by wire/bank transfer (domestic USA or international) the funds should clear in your escrow account in between one to four days (after release) depending on your bank’s processing speed. If you chose to be paid through PayPal, the funds should clear in your account between one to three days later.

 

Why is my payment taking so long?

Some countries are known by banks as slow-paying or slow-to-pay, a list of affected countries can be found our Slow-to-Pay Countries article.

European customers who have not provided their IBAN also may experience delays until the IBAN is provided.

If you have been waiting more than three weeks for your payment, please contact the Flippa Escrow team at [email protected]

  

How can I get a refund?

Once the funds are in the Flippa Escrow vault, you would need to file a dispute in the listing's Sale Completion Area. Upon resolution of the dispute, Flippa will advise on how the funds in the vault will be disbursed and can potentially return funds to the Buyer.

Please note: When you release funds to the Seller, you acknowledge that you have received the assets as described in the Flippa listing and are happy with them. If the funds have already been released to the Seller, Flippa has no further ability to retrieve the funds or provide a refund.

 

I transferred my site/domain/app to the buyer, how can I get paid?

Once the funds are in the Flippa Escrow vault, you would request a release of payment to you by the Buyer in the Flippa Escrow process in your Sale Completion Area.

If the release of funds is not forthcoming, you would need to file a dispute in the listing's Sale Completion Area. Upon resolution of the dispute, Flippa will advise on how the funds in the vault will be disbursed and can potentially release funds to the Seller. 

 

I sent you the funds via wire transfer, why do you need more money?

Many banks charge a fee for sending funds via wire transfer. While these fees are specific to your bank (or the intermediary bank between your bank and ours) and must be paid by you, they sometimes deduct those fees from the amount you intended to send to us to pay the Seller via the Flippa Escrow process. We understand that this situation is almost always unintentional by you as the Buyer.

In order to proceed, we need you to send us the requested amount via PayPal per the details provided in the note you received from us. If you have any questions, please contact our Escrow team at [email protected]

 

I’m in Australia, too. Can I send you money without doing an international wire transfer?

Yes. Please contact us at [email protected] to get our Australian bank details and the amount in Australian Dollars (AUD) based on today’s exchange rate. The amount will be slightly different as the winning bid price on Flippa is denominated only in United States Dollars (USD). Sending money inside Australia may result in shorter turnaround times and will avoid international wire transfer fees.

 

I’m in the USA. Can I send you money without doing a wire transfer?

Yes. You can use our Wells Fargo account details to make an over-the-counter deposit at a local branch. Please let us know at [email protected] when you would like to send us money over-the-counter so we can provide our bank details. This is also important as the process typically doesn’t offer the same option to include your transaction reference or Flippa listing numbers. If we receive over-the-counter deposits without also getting such details, it can cause additional delays to your transaction.

 

What US bank do you use?

We have recently changed from Bank of America to Wells Fargo in the USA. While these details are included in the Flippa Escrow screen, here are the details for your records:

The US domestic details for Wells Fargo are:

Account Name: PromisePay Inc
Routing Number (ABA): 121000248
Account Number: 5139025810

For international wire transfers:

Account Name: PromisePay Inc
Bank Address: 420 Montgomery St
San Francisco CA 94104
SWIFT Code: WFBIUS6S
Account Number: 5139025810
 
 
What Australian bank do you use?

We have both Australian Dollar and US Dollar accounts with the National Australia Bank (NAB). Payments inside Australia are typically faster when paid to or from a NAB account.

Please contact us for our Australian bank details at [email protected]

While this FAQ will grow over time, please contact the Flippa Customer Success team at [email protected] or our Flippa Escrow team at [email protected] for any further questions.

 

International Wire Transfer Shortage

Most banks and financial institutions charge a fee to send funds via wire transfer, including the correspondent or intermediary bank between your bank and our escrow provider’s bank account.

Those fees are sometimes deducted from the amount you sent us to pay the Seller via the Flippa Escrow process. We understand that this situation is almost always unintentional by Flippa Buyers.

Our escrow provider’s bank charges them to receive international wire transfers, however those fees are not debited from the amount we receive or charged by us to you.

You may have received an email from the Flippa Escrow Payments team notifying you that an international wire transfer arrived ‘short’, or as less money than you sent.

In order to proceed with the Flippa Escrow transaction, please send our escrow partner the remaining amount as requested via PayPal at [email protected] or contact us at [email protected] to discuss alternate arrangements.

 

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