Comment on What happens when you try to buy a $1M domain?
IWantToFuckSpez@kbin.social 10 months ago
If you have the money you probably need to transfer the money to an escrow account. Even if you are loaded you probably wouldn’t have a credit card with a million dollar limit.
The escrow agent calls the other party to tell them that the money is on the account. They transfer the domain rights to you then you call the agent to tell them that the deal has been concluded and they will send the money to the seller.
bizzle@lemmy.world 10 months ago
Fabulously wealthy people have no limit credit cards, not unlike my hold em games.
Zippy@lemmy.world 10 months ago
No. Actually they don’t. Nor would they use a credit card to make these kinds of transactions because the fees are too high to the buyer. Or more correct, the buyer would tack on a surcharge to use a credit card. Might use a credit card to put down a deposit but that is about it.
viking@infosec.pub 10 months ago
Yeah, actually they do. I’ve been working for a wealth management bank in Luxembourg for several years, and we do have unlimited credit cards. Technically they have a 999,999,999 EUR limit since there needs to be something, but good luck spending this much anyway.
Also, credit card fees outside of the US are rather tame in comparison, and usually even capped. I’ve seen someone buy a Bentley worth >1M with his Visa.
bizzle@lemmy.world 10 months ago
They definitely do, spoiler alert you don’t even need that much money to get one.