ePayments: virtual IBANs, receiving payments from Sedo and other services

Started by RoyJones, Jul 27, 2022, 01:29 AM

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ePayments provides a simple method for receiving funds from Sedo and other widely used domain auctions. You can withdraw the funds easily via SEPA transfer, which is a transaction that takes place within the single euro payment area, covering 35 European countries. This type of payment is faster and more efficient compared to traditional international bank transfers.

Here's how it works:
1. Sign up for ePayments and successfully complete the verification process.
2. We provide you with a virtual IBAN, which is an individual bank account number in Euro format.
3. Place an order for a bank transfer from the auction and input the received IBAN.
4. The funds will be deposited into your ePayments wallet within a day.
5. You can then choose your preferred withdrawal method.

- No commission fee for receiving money
- Transaction time of 1 working day
- Withdrawal options include bank accounts or cards, other payment system wallets, or cash using an ePayments prepaid Mastercard.


Is it permissible to receive payments from third-party sources? Is it possible for one person to open multiple accounts with different details? Who is the intended recipient of the payment - ePayments or the individual who opened the account?

In situations where it's not feasible to include a special note with a payment, how is the crediting process carried out?


I've been utilizing the epayments system, which includes a wallet and payment card, for more than four years now. In this piece, I'll be discussing the ease of utilizing the card, how to add money to the wallet, whether or not epayments works with cryptocurrency, and how it all works. The primary objective of this article is to provide a detailed account of my experience with the system and give feedback.

In 2022, ePayments resumed operations and returned the funds to the users. Emails were sent out asking users to provide additional documentation, after which their wallets were unblocked for money withdrawal. It's important to note that this withdrawal method can only be used once, meaning you won't be able to send funds to the same bank account twice.

In February, ePayments received its verdict. All users, including their wallets and cards, had been frozen. This was due to concerns by the British regulator FCA regarding ePayments, and the decision was made to suspend the company's operations until all legal issues had been resolved. As a result, it's currently impossible to withdraw funds from either the accounts or cards.

It remains unclear how long these proceedings will take, with some speculating that it will only last for a few days or weeks. However, in my opinion, this is overly optimistic. It's more likely that users will need to wait a few months, but there is good news. Epayments is licensed by the FCA, so users' funds are secure. Even if the FCA opts to shut down the company, all users' funds will be refunded. The only question is when it will occur and what additional documents are needed to indicate that the funds in the accounts were obtained honestly and all taxes have been paid.


The fact that there is no commission fee for receiving money and a transaction time of just one working day is definitely an advantage. Additionally, the withdrawal options provided by ePayments, including bank accounts or cards, other payment system wallets, or cash using an ePayments prepaid Mastercard, offer flexibility for users.

How does ePayments simplify the process of receiving funds from domain auctions like Sedo?

What is the advantage of using SEPA transfers for withdrawing funds compared to traditional international bank transfers?