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How do you pay? Why?


I thought maybe some light should be shed on how we pay for our purchases here and why we do them the way we do.

Personally I’m not very enthusiastic about paying extra for convenience via Paypal. It’s really no quicker as the following transfer of funds to the bank being used takes 3-5 business days after the funds hit your Paypal account… and there's that sur charge as well.

Postal money orders are fine enough but depending on the price tag, several need be acquired very often.

Cashiers check (certified funds) is my pref. One stop shopping. Right at my banking facility and the funds are secured, if lost or stolen I have but to make a call to my bank. Ever try calling the Post office? You can't. Not directly anyhow

The problem I continue to see is the ‘time frames’ being reported by sellers about how long Postal money orders, and/or cashiers checks take to be posted. I keep hearing from one day to a week or more by some accounts for these MO’s and CC’s to be posted.

Maybe my bank is special, I don’t know, hence this thread. Always when I deposit MO’s or CC’s, the funds are posted to my account within 24hr, or the next business day… sometimes immediately, depending on the time of day they are presented…. Which is fine.

Personal checks do however take lots longer. I’ve been told as much as two to four weeks by my bank.

How does your financial institution handle receipt of certified monies like Postal M.O. & Cashiers checks?

Have you asked lately, or just go online later and take a peek?

These more secured funds should surely involve less time to post than personal checks... or why bother with them in the first place?
blindjim
Post removed 
bdgregory
1,708 posts
 
I prefer Paypal both selling and buying. I don't charge the fee when selling, however on a big ticket item, that cost may come into play in my willingness to sell at a lower offer. For example if the guy is local, is picking up the item and paying cash, I'll always accept less. If it's a big ticket item and the guy is paying with a USPS money order I may accept less, but I don't trust any paper document to be non-counterfiet, so that means I will have to go the the post office or bank to make sure I have my money. It's just more work. Reading the comments above, I may be making more out of the effort than I need to, but what can I say, I'm lazy.
zapper
68 posts
 
I agree with the Paypal preference. I too have been burned twice now with members who's feedback seems genuine. Alot of times if there is a problem with the item, not as advertised, Paypal will atleast stand by you through the process of determining fault, and if you use Paypal with cc, you can always deny the payment until things are resolved.
Seems like a $1000 item would be around $30, atleast figure it in the asking price instead of the pathetic "Paypal add 3%" caveat.
fishboat
245 posts
 
As mostly a buyer at this point I won't do a deal if I have to pick up the 3% paypal. Both parties are getting some benefit. The seller either needs to pick up the paypal fee entirely (as cost of sales) or at most split it with me. If I see " . . . add 3% for PayPal" I move on.

I've bought and sold many items over the web & have no issues with a MO, bank check or paypal...& I pick up the paypal fees on a sale.
uhurit
61 posts
 
I feel uncomfortable and refuse to use Postal money orders. I live in a small town, and want to avoid the implications of doing something illegal or immoral when bying multiple MO, to the tune of 2K,or so. So, Paypal only/personal checks for me.
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