Question on Electronic Payments

bhartman35

Hi, Everyone.

Those of you who don't take PayPal: Do you consider electronic payment (e.g., from someone's bank account) being just as good? I've won an auction, and I'd like to pay electronically, rather than through check. They don't take PayPal. (Only my second time doing a non-PayPal auction. The last time was a few years ago, and it left me wary.)

Barry

Without references, I'd be hesitant to give someone my bank account info. I did receive money for a pricey coin via wire transfer recently (I didn't want to take the hit for a Paypal commission), but that was only after I checked with a dealer I know who recently did business with the guy.

airplanenut

<< <i>Without references, I'd be hesitant to give someone my bank account info. I did receive money for a pricey coin via wire transfer recently (I didn't want to take the hit for a Paypal commission), but that was only after I checked with a dealer I know who recently did business with the guy. >>

Why not just require the payment be sent by echeck? It's still paypal, but just a $5 fee.

bhartman35

<< <i>Without references, I'd be hesitant to give someone my bank account info. I did receive money for a pricey coin via wire transfer recently (I didn't want to take the hit for a Paypal commission), but that was only after I checked with a dealer I know who recently did business with the guy. >>



Through my bank, it wouldn't involve any bank account info on his part. All I need to add a payee is a name and an address. Then the payee is either paid electronically or a check is sent out (if the bank doesn't accept electronic payments).

I figure, the seller has to send me his address anyway, if he wants a check, right?

BBQnBLUES

I no longer use PayPal & prefer to send a USPS Money Order... Wire transfers like Western Union aren't too secure IMO.

bhartman35

Western Union is how I got screwed in my last non-PayPal auction. Anyone asking for Western Union payment is usually a red flag to me.

LindeDad

Many banks also have very low or free Chashiers Checks available.

BobaFett72

<< <i>Many banks also have very low or free Chashiers Checks available. >>



My local bank USED to give me one free money order per day as long as I had an account with them. They charged a $1.00 fee for a cashiers check up to $10,000.

Then they were bought out by sovereign bank, and they now charge $3.00 for a money order..(no free ones poof! gone!) 3 bucks! (its cheaper at the 7-11!) and $5.00 for a cashiers check. needless to say i do most everything electronically now.

good luck with your transaction.

bhartman35

<< <i>

<< <i>Many banks also have very low or free Chashiers Checks available. >>



My local bank USED to give me one free money order per day as long as I had an account with them. They charged a $1.00 fee for a cashiers check up to $10,000.

Then they were bought out by sovereign bank, and they now charge $3.00 for a money order..(no free ones poof! gone!) 3 bucks! (its cheaper at the 7-11!) and $5.00 for a cashiers check. needless to say i do most everything electronically now.

good luck with your transaction. >>



Thanks!

Thanks for all the responses. I plan to pay electronically. That way, if his bank does electronic payments, he'll get it that way. If it doesn't, he'll get a check. I just have to wait to hear back from him on where to send the payment.

Barry

Through my bank, it wouldn't involve any bank account info on his part. All I need to add a payee is a name and an address. Then the payee is either paid electronically or a check is sent out (if the bank doesn't accept electronic payments).

I figure, the seller has to send me his address anyway, if he wants a check, right?

Oh, I thought you were the seller not the buyer. Never mind...


Jeremy - I've done echecks, too. For this particular transaction, the guy wanted to wire the funds to me, for which I needed to provide my name, acct, and the bank's ABA routing #.

morgannut2

I would buy a one weay ticket to --YOU know where-- before sending ANY money as an electronic wire.
If they won't take paypal, a normal check, VISA, or a postal money order--I don't need the possible aggravation
The days of bank wire transfers are over--in fact I just dicussed the concerns with my stock broker on a major purchase
that went sour over just this subject and an old man stuck in his ways!!.

VamGuy

<< <i>Without references, I'd be hesitant to give someone my bank account info. ....For this particular transaction, the guy wanted to wire the funds to me, for which I needed to provide my name, acct, and the bank's ABA routing #. >>

....information which is typically printed on every single check that every person here has ever written to anybody in their life. Do you require references from everybody you've ever written a check to?

So why sweat it?

garsmith

<<Why not just require the payment be sent by echeck? It's still paypal, but just a $5 fee.>>

Anything that sells for over $100 you should ask for e-check.