Why not use the bank's payment system?

[Michael Bush]

Whenever I sell stuff lately, I try to get buyers to go to their own bank's web site and use the electronic payment function there. The fee is nominal (and I offer to pay it), compared to the huge amount PayPal charges. And it's your own bank! (Or a consortium of banks in many cases, or a company your bank contracts with, in some.)

Not a single one has done it yet. Some suggest that they don't trust it. But it's their own bank, that they trust to keep their money.

[Michael Bush]

here's a huge reason

buyer protection.

That's a good point. I've never had anyone raise it, though. They say they don't trust the payment system, that it seems dodgy. Sometimes that they don't know how to use it. Maybe they're just being polite.

[bort]

I did a direct bank transfer once with a trusted buyer. It was a bit of a hassle... it was easy enough to do, but the problem was that you could only do one transaction per day, with a $1,000 limit. The guy bought a tuba from me, so it took a week of daily transfers to finish the transaction. I would only do that with a very small number of people.

[Three Valves]

How about those square devices small merchants have been using??

[boobentuben]

whats da benefit 2 u if they dont use paypal

[Michael Bush]

whats da benefit 2 u if they dont use paypal

If they don't use paypal, the seller doesn't have to pay paypal fees

Exactly. Enter the price of a tuba here, and you'll see right away.

If I were in business, maybe this would be part of the cost of doing business. But I'm just some guy who likes tubas, and they come and go, and I'm trying not to waste money.

On the other hand, if the buyer is willing to add the fee to the purchase price, I'm more or less okay with it. There are other reasons to wish it weren't an often-necessary deal with the devil, one of which bloke alludes to above. But right off the bat the fees are deadly.

[Three Valves]

I don't get it.

I call tuba man, pays him with Visa, he sends Tuba.

Private sales are different, but, how did it get so complicated??

[boobentuben]

whats da benefit 2 u if they dont use paypal

If they don't use paypal, the seller doesn't have to pay paypal fees

Exactly. Enter the price of a tuba here, and you'll see right away.

good 2 know - thx 4 calc app link - suppose 1 more reason 2 travel 2 buy/sell tuba

[hup_d_dup]

good 2 know - thx 4 calc app link - suppose 1 more reason 2 travel 2 buy/sell tuba

This style of writing is very irritating to read. I suppose it saves you some time, but it slows down and distracts everyone else (or at least me).

If everyone posted like this I wouldn't bother with the forum.

Hup

[Three Valves]

If you buy a really nice tuba from someone (ok...the one in the other thread's cartoon) for $10,000, the Post Office money orders will cost you $16.50 ($1.65 per $1000 money order) and overnighting those ten money orders will cost $23.

1% of $10,000 is ...well... $100, so these Post Office costs are about 4/10 of 1%.

Does anyone else move universally-accepted money in a day for that low of a percentage?

I have never seen anyone at the post office, supermarket, or 7-11 buying money orders that look as though they can afford a pot to pee in.

Shouldn't one just go to the bank and get a cashiers check for no fee at all if the seller insists??

[bisontuba]

Hi-
These days, with digital copy machine technology, many merchants and banks will put a HOLD on certified bank checks. I asked my bank about this, and was told due to many fakes, in actuality, a regular check is treated the same as a certified bank check!!
Postal money orders are a very safe and effective way. Yes, you do have to pay for them, but no hold on them ( provided the post office has the cash in their drawer) when you cash them.
Mark

[Three Valves]

System??

Caveat emptor!!

When we bought our (modest) boat the seller wanted a bank check.

I wanted to roll up with one of those metal briefcases, 80s style, full of Jacksons for the transaction, but he demurred.

[ufonium2]

I tried to use my bank's system recently with a tuba purchase, and after 3 days of trying, just offered to pay the PayPal fees instead. My bank was in the same consortium as the seller, and we still couldn't get it done. If I remember correctly there was a $1000 limit per transaction, and the transaction had to clear, process, and then be approved by the seller all before I could send another payment, when the process would start over. It would've been about two weeks to send $1800 within the same network of banks. Neither the delay or the $ limit were apparent until I was deep into the transaction, which was the most annoying part.

[Michael Bush]

I reckon I'm going to quit worrying about it and do the best I can. (I'm good with postal money orders.)

[tofu]

My experiences with banks has been when something goes south electronically it takes forever to get it fixed. You also go through an amazing amount of people/levels to get it resolved. And repeating the story over and over (even when it has been recorded on the screen in front of them) is frustrating at best.

I agree that PayPal fees seem high and really wonder how much more it can cost them to process a $10 transaction versus a $2500 one. Seems to me that a flat transaction fee would be fairer for the larger purchases. But, as some have previously stated, I use it for the protection and convience/speed. Beats the heck out of mailing a check and then having the seller wait for it to clear etc. and then having no real recourse if something happens.