Question -- What's the best and most secure way to accept payment for...

cartwheel · January 24, 2007 11:06AM

a large purchase (I'm talking 5-figures here)?

I know, I know! To beat you to the punch, here are some funny answers I anticipate:

-- first-born male child
-- Cheerios Sacs
-- wampum
-- etc., etc.

Seriously, what about a cashiers check? Any other (serious) suggestions?

Cartwheel

mrpaseo · January 24, 2007 11:09AM

Cachiers Check or Postal Money order(s) (I think there is a limit to the Postal MO's)

Ray

cointagious · January 24, 2007 11:09AM

Personal check is fine.

Russ · January 24, 2007 11:21AM

I just accepted a personal check on a coin that brought nearly $15K. Shipped it a day after the check arrived.

Russ, NCNE

storm888 · January 24, 2007 11:23AM

If your buyer has online banking, he can pay directly
into your chosen bank account.

Just give him/her the Routing Number, and your money
will be there fast. Such transfers cannot be reversed, after
they have been withdrawn by the transferee.

Or, you could take a bunch of USPS Money Orders. You
can cash them at the post office. If you cash more than
$2,999.99 at a time, they may make you sign a form
that is usually kept by them for at least 180-days, and
may be forwarded to other agencies.

Russ · January 24, 2007 11:24AM

BTW, the safest method outside of a reputable escrow company is a cashier's check drawn on the same bank you use. You can verify it right across the counter prior to deposit.

Russ, NCNE

seemyauction · January 24, 2007 11:49AM

<< <i>I just accepted a personal check on a coin that brought nearly $15K. Shipped it a day after the check arrived.

Russ, NCNE >>

Russ you are a trusting soul.......or ya knew the person.....

Russ · January 24, 2007 11:55AM

<< <i>Russ you are a trusting soul.......or ya knew the person..... >>

Neither. It was drawn on the same bank I use.

Russ, NCNE

wayneherndon · January 24, 2007 12:23PM

Perhaps a bank wire.

WH

dthigpen · January 24, 2007 12:28PM

Wire Transfer, Bank Check, or Escrow. Or, as long as the individual doesn't mind waiting for it to fully clear, I'd take a personal check without hesitation.

dthigpen · January 24, 2007 12:29PM

<< <i>I just accepted a personal check on a coin that brought nearly $15K. Shipped it a day after the check arrived.

Russ, NCNE >>

I've had dealers do the same for me, I had prior dealings with both though.

cartwheel · January 24, 2007 10:40PM

Thanks for all your answers!

Cartwheel

jmj3esq · January 24, 2007 10:44PM

Chasier's check or official bank check. Paypal will cost too much and I hear fake money orders are being passed.

EricSan · January 24, 2007 10:53PM

I walked into my local bank (east coast) with a cashier's check drawn on a bank on the west coast, and they treated me like I walked in with a gun. The teller gave me this crazy look, went running into the managers office, and started a big stink.

I started getting lectures about how many phony cashier's checks they get each and every week. "No one trusts them anymore!" I was told over and over. Then they confiscated the check, charged me $15 to send it for immediate collection, and told me it would take up to 60 days to get my money. The check was for $3k.

So I asked the bank manager "Why do you idiots still issue them if everyone thinks they are counterfiet when they are received?" He just gave me a nasty look.

I did get my money 7 days later, but it was a big hassle at the bank.

I vote for a personal check. Let it clear for 5 days, then ship your coins!

Eric

ricko · January 25, 2007 12:11AM

I have been using money orders from my bank and have had zero problems.... they only issue up to a certain $$, but multiples work well. Cheers, RickO

jmski52 · January 25, 2007 12:30AM

I think it's time for a little philosophical discussion about customer service with your bank's manager. If you don't see eye to eye, it's time to find one you can work with. (And don't forget to let the main office know the reason if you decide to change banks.)

holeinone1972 · January 25, 2007 12:56AM

Only way I would take that check would be if Ed McMahon and publisher's clearing house was at my front, door, and I could see them live on my tv, while I was recording it on my DVR.

Question -- What's the best and most secure way to accept payment for...

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