May I take this opportunity to formally introduce myself to those who do not yet know me, I am the NETPROPHET.
I do not post many comments on forums and I will not respond to posts or emails [ sorry ]
Now please take note as this post is for everyone's benefit/protection.
In over 10 years of domain buying I have seen, heard and experienced most things, including purchasing large amounts of domains from most of the prominent registrars, but only recently have I accidentally discovered a flaw.
One of my strategies is to allow certain members to purchase domains under the umbrella of my buying power, unfortunately this has backfired recently when 2 of over 45 refills at Enom [ in other words $200 from a total of $3,670 ] were charged back by the credit card holders.
Enom's reaction was swift, abrupt, illegal and void of any normal business etiquette. Their in-house lawyers blocked my access to all of my domains at Enom, over 1,000 all because of a $200 chargeback. They also demanded that I and my fellow partners sign documents to ensure that the remaining 43 refills [$3,470 ] were not going to be charged back by us. Why would we as it was only ever our intention to purchase domains and have access to them via Enom's website?
Leaving out a lot of unnecessary detail it transpires that someone accidentally revealed that Enom could not do anything if any credit card transaction ever made to them was charged back!! they have no alternative but to refund the card holder at the credit card company request. In addition they are charged a $70 fee for each chargeback they incur by the CC companies.
As you must all be aware the profits in the domain name business are small. Enom pay what I pay for a domain, so they rely on scams, like Iregistrarions [ an Enom reseller ] or various marketing strategies to make their profits.
Our reaction when the Enom lawyers decided to start making business decisions of behalf of Enom direct to us [ a client ] was to threaten that unless they immediately allowed access to our domains [ by the way we did repay the $200 that had been charged back ] we would CHARGE BACK ALL OF OUR TRANSACTIONS.
Well Enom's response said it all and proves my point beyond doubt, they REFUNDED all of our payments to us immediately, in fear of us charging back those transactions and them not only suffering the lost of revenue , but the charge back fee per transaction from the credit card company and possibly loosing their ability to process any credit cards at all !
So the moral of this true and up to date story is IF ANYONE wanted to cause havoc to this industry then we would simply all just have to charge back any credit card transaction, no matter when it was made .... There is no mechanism for these registrars to counter the claim, there is no appeal procedure then can exercise, if the credit card company charges back, that's it.
SO imagine how many charge backs Iregistrations must have incurred with their scam ? no wonder they were forced to change their name to EZInames [ same company ] read this small print when registering at EZInames [ which comes at the very end of the registration process ] "If you wish to cancel them you can by simply logging into you account. There is absolutely no obligation to keep these services active. To continue these services simply do nothing and they will remain active. An amount of $599 will be charged to your credit card annually in advance for these services after the free trial ends should you elect to keep them active."
Don't be taken in by the free domain offer, the same applies.
So let me make this very clear... if anyone or your credit card companies tell you they can not charge back a charge that is not correct and against their own policies. You can, as the "seller" has no signed receipt by you, and in today's internet age you would think that credit card companies would protect their merchants but they do not. If the seller of any product does not have your signature you have the ability to dispute or charge back that payment, end of story, period.
Armed with that knowledge can you imagine how many people who saw themselves as domain collectors or domain entrepreneurs, may now decide it would be better to have the funds back than have the domains ? think about it ?? you may have had use of the domain for a year or so and now if you wanted you could get your money back.
Finally do not use PayPal to buy domains, as they have a 30 day period, and if you have not complained by then they say you cannot. I am challenging that right now as like many people I use a credit card to top-up my PayPal account , so I will charge back those payments I made to PayPal.
Mr Paul Stahura the CEO and founder of Enom , hides behind his desk and allows in-house lawyers to ruin his business and fraudulent people/companies to act as resellers like Iregistrations and EZInames. think about that also , it's better for Enom to let the reseller do the illegal stuff and take the credit card companies flack than them directly, hence the reseller network.
Also beware DIRECTNIC [ same tactics as the above]
Regards to you all