Sedo adds seller identity checks before domain sale payouts
in plain words
Sellers who sell domains on Sedo must now prove who they are before they can get their money. The checks are needed to follow European rules that stop money being hidden from authorities. Sedo will also stop paying out sales through PayPal and will send the money straight to seller bank accounts.
Full summary
Sedo A German domain marketplace that also offers brokerage and parking. Full definition of Sedo has introduced a new Seller Verification process that requires domain sellers to confirm their identity before they receive proceeds from domain sales. The system follows European anti-money laundering regulations and is handled through Adyen, which Sedo describes as its payment processing partner.
Sellers must provide personal or business information, including their name, address and banking details, and possibly an identification document such as a passport or national ID. The process is free and typically takes a few minutes, although verification can take up to two days.
According to Sedo, verification becomes mandatory once a buyer completes a seller’s first domain purchase. Sellers receive an email invitation and can complete the process through their Sedo account. Verification is normally a one-time requirement unless account information changes.
Sedo is also changing how payouts work. It will no longer support PayPal payouts for marketplace transactions, including SedoMLS sales and external transfers. Proceeds will instead be deposited directly into the seller’s bank account, while PayPal remains available for parking Showing an ad or for-sale page on a domain instead of a real website. Full definition of parking and brokerage payouts. Once verification is complete, payouts are typically processed on the next business day.
Unverified sellers cannot receive their domain sale proceeds, and incomplete verification may delay transfers or lead to cancelled transactions. Sedo recommends that sellers keep personal information and banking details up to date. Investors can review requirements and verification status through their My Sedo account.