posted on September 8, 2000 03:30:27 AM new
Hi all,
As I am based in Australia the majority of my auction winners are from overseas (mainly US).
I like to give as many options for payment to make the process as easy as possible (I even list in US dollars).
The methods of payment I accept are: Cash (always the easiest & cheapest - no fees to cash at my bank), International money order (PITA - costs me $8.00 to cash and about 6 weeks to clear) & CC through CCnow (9% commission - almost killing me!)
I would like some opinions on traveller's cheques? Does the buyer have any charges at their end and if so how much? As a buyer would you have any problems with this form of payment? Any risks or concerns I should know about?
Just trying to think of another form of payment that won't eat so much of my profits. Any help would be greatly appreciated.
posted on September 8, 2000 04:07:54 AM new
pharlap,
Like you I'm based in Oz.
I try and make life easy for my buyers, mainly US.
I'll take currency, cashiers cheques, personal cheques and bank drafts. I also take money orders and travellers cheques.
I use CCNow (ouch!) and BidPay (very,very good). BidPay have recently gone international and are more than happy to deal with sellers outside of the US. Have a look at them.
Your bank is ripping you off. I bank a lot of overseas cheques. It costs me about $3.50 AUD to bank them and they are cleared within 48 hours.
If you would like to get in touch , email me at [email protected]
I will let you know who I am banking with.
posted on September 8, 2000 04:39:31 AM new
I buy a lot of stuff from England. I usually send cash, but recently won several auctions and price was almost $100.00. I sent it Western Union. It cost me $15.00, but the advantages were: I had absolute proof that the seller got my money. The seller can send me my merchandise right away. I always sent payment global priority which is $5.00. The biggest advantage, which was worth the other $10.00 was I can do it from my computer. I don't have to go out and get an international money order. Don't have to go to the post office. Don't have to worry about giving out my credit card number to a seller in another country. Don't have to worry about my cash not getting there. It may not be for everyone but I really like it on high price items.
posted on September 8, 2000 05:57:13 AM new
Traveller's cheques usually have a 1% markup to the buyer. The smallest denomination is $20, maybe $10, so either change will need to be sent, or the buyer will have to enclose another form of payment.
In order for a traveller's cheque to be cashable, the buyer has to sign the countersignature on the front. This is supposed to be done in the presence of the person being paid as it is supposed to be the only identification required for travellers cheques.
Once a check is countersigned, it's no longer protected and becomes a bearer document almost as negotiable as cash.
posted on September 8, 2000 06:37:51 AM new
pharlap,
I'm going to offer an bit of an off the wall suggestion, but what the heck!
Have you considered "partnering" with someone based in the U.S? The payments are received by them, processed & the net funds wire transferred on to your account.
If might offer certain appeal:
1. Your customers are dealing with someone here in the U.S.
2. Your payments are processed quicker
3. With quicker processing of payments, the customer's get their items quicker.
4. If there are any problems, the U.S. "partner" can probably get them resolved faster...some ebayers think they can take advantage of an overseas seller, they might think twice if there's a U.S. contact point.
The downside is the wire transfer does run $20 (atleast from my bank) but if you handle it once a month...might make up for some of those $8 check charging fees.
Plus it "might" enhance sales.
BTW, I do this w/several people based in other countries, including Australia. My partner there collects any sales from there, I collect his from the U.S., we settle up about once a month.
Our customers don't have to worry about trying to find currency, or international money orders & get their items faster. It's worked well for us.
