How To Receive Payment On Something Sold Here?

munruh · Nov 17, 2017

I'm getting ready to list 1, possibly 2 phase perfect converters here on PM. What is the best way to receive payment when selling something here?

Guest · Nov 17, 2017

Most people prefer to use Paypal. I think once a person did not want Paypal and I sent them a money order, I have bought quite a few things here but they are usually $100 or less.

true temper · Nov 18, 2017

I would rather have check or green cash.

jhruska · Nov 18, 2017

Almost all my purchases have been PayPal. The one problem was when the seller wanted a postal money order because there was no bank for miles. I made the mistake of sending a bank cashiers check.

SeaMoss · Nov 18, 2017

They have a bad name because of craigslist scams but Western Union is really easy and cheap. Besides the Western Union offices they can do cashouts at a lot of other places, like grocery stores. Safeway, for instance. I think the limit is $1500 ? And it's fast. Put the money in one end, take it out immediately at the other, not like some of those things that take hours or days. Just make SURE that the id you use EXACTLY matches the ID the guy at the other end will use. Spelling and middle names count !

bob · Nov 18, 2017

Can't you do electronic, email bank to bank transfers in the US. Works slick as hell in Canada pretty much replaces PayPal for domestic transactions.
Bob

MichaelP · Nov 18, 2017

IMHO, unless it is a local pickup, Paypal payment is the most fair to both, seller and buyer. It's almost like an escrow account that eliminates risks.

However, when dealing with a well established and trustworthy persons here, I had other variations: payment, first; goods, first or both shipped at the same time.

But in 90% of the cases it was a Paypal transaction.

Guest · Nov 18, 2017

bob said:
Can't you do electronic, email bank to bank transfers in the US. Works slick as hell in Canada pretty much replaces PayPal for domestic transactions.
Bob

It depends on the bank, the backward ass bank I use now that can take up to a week. With my old bank it was seconds.

Guest · Nov 18, 2017

true temper said:
I would rather have check or green cash.

I don't know about your experiences but getting checks from customers coming from the lower 48 first class mail time + time for the check to clear for me can be anywhere from 3 days to two weeks.

true temper · Nov 18, 2017

Dualkit said:
I don't know about your experiences but getting checks from customers coming from the lower 48 first class mail time + time for the check to clear for me can be anywhere from 3 days to two weeks.

I guess I am too trusting. For 90% of the folks on here if they bought something from me I would ship the item before I even got the check.
My thinking is if they trust me enough to send a check I should trust them enough to send the merchandise.
I haven't have any problems yet.

L Vanice · Nov 18, 2017

bob said:
Can't you do electronic, email bank to bank transfers in the US. Works slick as hell in Canada pretty much replaces PayPal for domestic transactions.
Bob

In the USA, bank transfers are a profit center for banks, meaning they charge huge fees, maybe ten times the PayPal fee. In the USA, PayPal is the best option for fast and convenient payment, including international payment, incoming or outgoing. Mailing a check on a USA bank is still the cheapest method for domestic transactions.

I know bank transfer is the preferred, or only, means of payment for German eBay sellers. A very few German sellers have allowed PayPal, but still refused to ship to the USA. I have imposed on a PM member in Germany to pay for a purchase for me and then paid him back with PayPal. He has also allowed me to have a purchase shipped to him and then sent it on to me. These are great favors and not something I would do often.

Larry

Mud · Nov 18, 2017

L Vanice said:
In the USA, bank transfers are a profit center for banks, meaning they charge huge fees, maybe ten times the PayPal fee. In the USA,

They can cost up to $50 between the sender and receiver's fees, when both are domestic USA banks. And can take several days to clear. I only accept them for large amounts where the card discount fee would be comparable or larger. I sent $1800 to Spain, cost me over $100 and took over a week to arrive.

To the OP's question, I'd insist on a postal money order in advance of shipping, or a check that has had time to clear your bank, or a box full of cash (Yes, I've been shipped cash in the past). Just because a person has a PM log in is not cause for unwavering trust. One of the regulars here has history and a reason to be honest. There are a zillion who don't.

Danny VanVoorn · Nov 20, 2017

bob said:
Can't you do electronic, email bank to bank transfers in the US. Works slick as hell in Canada pretty much replaces PayPal for domestic transactions.
Bob

I've done a couple of the wire transfers in the past, problem is my bank can't give an accurate cost? I had them send the money plus the estimated fee cost (expensive) to a German resident (ebay item) and he said I didn't send enough? I then made another deal and sent what should have covered everything and he said I sent too much?
It seems that America is way behind the rest of the world when it comes to wire transfers, I think the fees for a couple of hundred dollars to Germany were in the $40 to $50 range. That's insane and I vowed not to do it again unless something changes.
Dan

Joe Miranda · Nov 20, 2017

If you want to avoid paypal fee, and you and the seller are agreeable, let the seller send you a check, when it clears your bank send them the item.

Just be careful to make sure the funds from local bank have actually transferred. My son got stung on a long distance scam when he shipped an item when he got the check and deposited it - only to find out the funds never transferred! Ouch! Painful lesson. On here though - I really doubt that would ever be an issue.

I have bought and sold a lot of stuff through PM and NEVER had the slightest issue. These guys are top notch in my opinion!

Johnny SolidWorks · Nov 20, 2017

I've bought a fair amount of stuff here, spending anywhere from $50 to ~$2000. I've used PayPal for everything, and never had a single issue or complaint.

tim9lives · Nov 21, 2017

Paypal is the way to go IMO. Universally accepted and simple. I would be lost without Paypal.

Monarchist · Nov 21, 2017

L Vanice said:
In the USA, bank transfers are a profit center for banks, meaning they charge huge fees, maybe ten times the PayPal fee.

Meah.... "pioneered" some of this stuff 30 - 40 years ago, as Day job was the network provider. It is for-sure a mixed bag. Some banks charge to send, others on incoming, a few do both, even fewer charge NEITHER direction.

Zero fee, either end, for me is an electronically requested dead-tree check, delivered by US mail. Several PM members have had those from me. Takes 3 to 5 days to arrive. Their bank usually takes another six days to "clear" the check, plus whatever variable delay may occur between their receiving it and actually going by their bank to deposit it. Some can just scan it in though their handheld or an ATM machine.

Paypal otherwise.

Downside to Money Orders, IMNSHO, is that BOTH parties have to saddle-up and go somewhere to do their end of it.

The OP mentioned Phase-Perfect sale. Generally a lot more money than the odd used toolpost, precision level, or camelback.

My used one was - IF i recall correctly - done with a dead-tree check. No rush, either end.

The Phase Perfect I bought NEW was on Visa card as the vendor had a "Merchant Account" to handle credit card sales.

If in doubt, check each other out. Also telephone. Calls are cheap. Even "free".

As to who's who? We nearly ALL live in the proverbial "glass houses", rapid online research-wise, many of us 20-plus years, same residence, even.

Not a lot of risk between "regular" PM members, really, unless a person is both careless and klewless.

macds · Nov 21, 2017

I find it utterly unbelievable that EMT transactions are not common state side????

I've literally purchased 10's of $1000's worth of gear via emt. With zero fees involved.

Mind you, I prefer cash in person.. but sometimes buying a shipped item across country makes that tough.

Monarchist · Nov 22, 2017

macds said:
I find it utterly unbelievable that EMT transactions are not common state side????

They - "EFT" rather than "EMT", here - ARE "common". Debit vs credit card use inclusive, we probably do more of them in a day than many countries do all year.

For the most part though, we are paying our mortgages, utility bills, credit card bills, major retailers, taxes, and such other established and recurring vendor/agency transactions.

Exchanging account information directly between private individuals who are (relative) strangers?

We are more cautious. We don't often care to deal with the "overhead" for onesies, even where there is a measure of trust.

That's where middlemen such as Paypal - or for that matter - credit AND debit card firms and their networks, even for those who do NOT carry a debt from one month to the next - come in.

macds · Nov 22, 2017

I do not believe we are talking about the same thing monarchist.
If I were to send you an EMT (email money transfer) here, i would go to my banking institutions web site, and log into my online banking.
Select "send money", and enter the recipients email address, a password, and the amount I would like to send them.
At no point does account information get shared.
Recipient gets the email from interac, chooses their banking institution from the portal, enters the transfer password, and deposits funds to chosen account.

I keep a separate account specifically for this "just in case", and have found it very useful. It has reduced costs for cheques, CC company fees, etc.

How To Receive Payment On Something Sold Here?

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