I got an email today from Afternic about some changes in payment policies.
Afternic domain sales earnings can be paid via international wire, check, Paypal or direct deposit.
Afternic’s domain sales minimum payout for international wires has been updated to $10,000 or more with a $45 processing fee. Checks ($25 processing fee), PayPal, and direct deposit do not require a minimum payout.
So what are my options here?
A direct deposit is only available to US (and maybe a couple other countries) so that is not an option.
A US check takes up to 45 days to clear so that is also not an option.
That only leaves Paypal as an option. Let’s assume I make a $9,999 sale. I would have to pay about $400 (about 4%) on top of Afternic’s 15% or 20% commission to receive the money at Paypal. Now if I want to get the money in my bank more fees apply of course.
So even the $45 wire transfer fee in not enough for Afternic to send a wire transfer. They could at least have a $60 or even $90 wire transfer fee for payments between $60 and $9,999 (that is the range of more than 95% of all sales) but no.
BTW, Sedo charges no fee for wire transfer payments.
Sorry Afternic but that doesn’t work this way.
Here is the email from Afternic today:
As a valued member of the Afternic, we wanted to let you know about a change in Afternic payment policies. This is a company-wide change that affects both new and existing Afternic customers.
Going forward, Afternic domain sales earnings can be paid via international wire, check, Paypal or direct deposit. Afternic’s domain sales minimum payout for international wires is $10,000 or more ($45 processing fee). Checks ($25 processing fee), PayPal, and direct deposit do not require a minimum payout. To expedite your domain parking payment we recommend using PayPal or direct deposit.
You can log into your account anytime to update your payment information. Click here to access your Afternic account.