Escrow.com Disbursement Method - Anyone Using Monzo or Starling Bank ?

DJ

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Hi All,

I created a new business account with Escrow.com recently as I shouldn't really be using my personal one. I created a new transaction and added my Monzo Business Account Details for the Disbursement Method, then waited for the buyer to confirm receipt of the domains.

Before they did this I received an email from Escrow asking me to add a different disbursement method as they do not support digital banks. Confused by this I responded advising that my old personal account had been using Starling Bank without any issues, and pointed out that nowhere does it say they do not support Monzo Bank in their bumph.

This was the latest reply:
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I have replied confirming they are actually a registered UK Bank, but I wondered if anyone else has ran into this problem or successfully using Monzo or Starling for their Escrow Disbursements?

Cheers,

DJ
 
Another example of us having to work with American companies who despite being global seem to have no understanding of how things work outside of the United States.
 
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Long thread on X here:

They don't accept Wise, Mercury, Payoneer, etc so not entirely surprised they don't accept Monzo or Starling. This seems to be a fairly recent development (last few months).

Thanks, interesting read, looks like I'll be avoiding them in the future. Sadly this was an overseas buyer who was insistent on using them.

They have now confirmed that they have made a 'Business Decision' to no longer allow Monzo Bank. I have replied confirming I made a Business Decision to use their services, after thoroughly checking their terms which made no mention of this, and that I expect the disbursement to be sent to my nominated UK Bank Account. I haven't heard back.

Another example of us having to work with American companies who despite being global seem to have no understanding of how things work outside of the United States.

Agree!

I'll let you know if or when they reply.

Cheers!
 
It may be worth involving Monzo in this, as I think it's in their interest to not be considered "not a bank" in the UK. The spent a lot of time and money to become a legit bank.

What even is a "digital bank" in 2024 - both monzo and starling have physical addresses in the UK, offer physical cards, whats' the distinction? no high street branches? is a digital bank not an actual bank in the UK? (rhetorical, really)
 
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