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Ebay Selling Question - How should a buyer pay you?(8 posts)

Ebay Selling Question - How should a buyer pay you?Fez
Jan 12, 2004 2:03 PM
Ok, I am a relative newbie selling stuff on Ebay. What is the easiest way to receive payment from your buyer?

I am getting lots of interest from foreigners. They ask me for my bank account # because they say they want to electronically transfer the money to me.

I have never received money this way and I don't know how it works. Is a buyer asking for my bank account # a legit practice? If so, how does an electronic transfer/wire work? What info do I need to give to the buyer? Is it secure, or are there scams out there by shady buyers?


If a certified check/money order via US Postal is not an option, then is Paypal the next best bet? I understand Paypal works good to receive payments via email and you don't even have to supply a bank acct or credit card acct info if you just want them to send you a paper check periodically.
there is no problem with wire transferscollectorvelo
Jan 12, 2004 2:33 PM
you should not have any problem with someone who wires funds into your account

just give them your ABA routing number, your account #, and your account name
wires are common

but of course, paypal is better
Is all of that listed on your check?Fez
Jan 12, 2004 2:46 PM
The routing # and acct # on the bottom of your check, and the account name on the top of your check. If so, then it seems pretty secure to me, since this info is printed on every check written anyway.

Who pays for the transfer?
I would never give an ebay buyer my bank account numberB2
Jan 12, 2004 2:48 PM
I may be a bit paranoid on this one, but this just doesn't sound like a good idea. Especially if the buyer is from overseas. Something sounds fishy to me.

I do use direct transfers with Paypal, but at least that's a known entity. If you do get set up with Paypal (they do need your account number), remember that unless you ship to a confirmed address in the US that they can "reverse" the transaction and YOU loose (been there done that). If you ship to a confirmed address in the US, then Paypal takes the hit if the transaction was fraudulent.

Personally I would stay away from the overseas stuff.

Good Luck,
Bryan
Agreed, do not give account number could be a scambimini
Jan 12, 2004 3:49 PM
Use paypal or BidPay. Bidpay is a Western Union Money order service. Some countries do not have Paypal but do have bidpay. The buyer buys a Bidpay/western Union money order online and then Bidpay notifies you that a money order has been mailed to you. You have to set up an account at Bidpay but that is simple. The buyer pays for the transaction fees you do not. I go ahead and ship the item once Bidpay notifies me that a MO is on it's way. I would not trust a buyers email notification. You can also wait until you have the Western Union Money order in Hand.

Otherwise stick with a Postal, Am. Express or Western Union Money Order. Do not take a bank or personal Money Order, some banks give out books of personal money orders you can use like checks that behave like checks.

On small items I will take checks if the buyer asks nice and has outstanding feedback. If they don't have a lot of feedback I will still take a check on a small item but wait
several days until the check clears to ship (make this clear to your buyer via email if they must send a check). Large Items it Paypal, Bidpay, or Postal Moneyorder (or cash if the buyer is local)
re: Ebay Selling Question - How should a buyer pay you?HouseMoney
Jan 12, 2004 3:05 PM
IMO, PayPal is the easiest method of payment. Payment is instantaneous. Seller doesn't have to wait a few days for check to arrive; buyer doesn't have to wait a few days for seller to receive check b4 whatever he/she bought gets shipped. I'd be suspicious of buyers suggesting wire transfers, especially from foreigners. As they say in Newark, NJ, "ain't nobody I don't know getting my bank account number!"

http://pages.ebay.com/help/confidence/isgw-fraud-sending-payments.html#instantwire

Read some of the Scam Alert material from the mtbr site:

http://marketplace.consumerreview.com/cgi-bin/classifieds/classifieds.pl?db=MtbReview&website=MtbReview&language=&session_key=
re: Ebay Selling Question - How should a buyer pay you?HouseMoney
Jan 12, 2004 4:03 PM
IMO, PayPal is the easiest method of payment. Payment is instantaneous. Seller doesn't have to wait a few days for check to arrive; buyer doesn't have to wait a few days for seller to receive check b4 whatever he/she bought gets shipped. I'd be suspicious of buyers suggesting wire transfers, especially from foreigners. As they say in Newark, NJ, "ain't nobody I don't know getting my bank account number!"

http://pages.ebay.com/help/confidence/isgw-fraud-sending-payments.html#instantwire

Read some of the Scam Alert material from the mtbr site:

http://marketplace.consumerreview.com/cgi-bin/classifieds/classifieds.pl?db=MtbReview&website=MtbReview&language=&session_key=
<b>SCAM!!!!!!</b>Dave_Stohler
Jan 14, 2004 9:50 PM
Never, ever, ever give your savings/checking account info out. It's a classic bank fraud scam. Don't even bother with foreign bidders, unless you have something extremely unique. It ain't worth the hassle if they are legit, and chances are 95% that they aren't. Just tell them to forget it-paypal only, no ifs, ands, or buts.