TRSbooks
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posted on January 23, 2001 02:09:03 PM
Hi I'm wondering how most sellers handle payment by personal check. How long do you recommend waiting before shipping? My bank indicated that they can not tell when a check clears at an outside bank. I was told I would only know there was a problem if my account showed a charge for the bounced check. I have a hard time believing that is the case but I talked to two different people with the bank and they said the same thing. What do you guys do?
Terri
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libbyparsons
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posted on January 23, 2001 02:15:46 PM
For the first time I had problems with bouncing checks (more than 1 of them) a few weeks ago and I no longer accept checks.
Up to that point I never held merchandise for the "clearing" period. I got the payment, I mailed the item.
No more.
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mauimoods
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posted on January 23, 2001 02:16:14 PM
I used to hold checks for 10 days when I first started selling on ebay. Now, I dont hold them (unless the item they won was a consignment item...then I tell them to send a money order, or I have to hold it til it clears...usually 10 to 14 days). I have only had one check bounce...and I didnt know about it until the bidder emailed and warned me it would. She sent a replacement in the form of a money order.
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mrpotatoheadd
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posted on January 23, 2001 02:18:04 PM
I think it depends on the type and value of the item(s) you sell. Some categories seem to attract more deadbeats than others.
What do I do? I ship upon receipt of payment, checks included.
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kudzurose
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posted on January 23, 2001 02:28:11 PM
I usually ship within 24 hours, regardless of the kind of payment. If I had a check for a large amount, and the person had 0 feedback, I might hold the item for ten days or so. Actually, a bounced check can come a month or so after you deposit, so you are not always out of the woods if you hold for a shorter period.
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Joanne
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posted on January 24, 2001 04:44:38 AM
I've been selling on eBay since March 1997 and have had a total of ONE bounced check. I didn't find out it had bounced until 4 WEEKS after deposit, and I had already shipped the items. Fortunately the buyer came through and sent a money order for the eBay amount plus my bank fees.
These days, the only time I would consider holding a check is for a high-dollar item from a low-feedback or negative feedback bidder. It's just too much of a hassle to keep track of all the checks I receive, when they were deposited, when they need to be shipped, etc., plus the fact that I would have to hold items for a month or more to be sure the check didn't bounce or else call the bidders' banks on a regular basis.
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victoria
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posted on January 24, 2001 05:38:25 AM
These days, the only time I would consider holding a check is for a high-dollar item from a low-feedback or negative feedback bidder. It's just too much of a hassle to keep track of all the checks I receive, when they were deposited, when they need to be shipped, etc., plus the fact that I would have to hold items for a month or more to be sure the check didn't bounce or else call the bidders' banks on a regular basis.
Ditto. My TOS says I do hold them for newbies and people with 2 recent buyer negs, but I just say that to discourage bad checks.
I've only had 2 bad checks, one made good, one made good w/my bank fees.
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lanetzliving
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posted on January 24, 2001 05:49:13 AM
In over 2000+ auctions I have yet to have once bounce. I know that others are not so lucky. I do not hold and ship immediatley it seems to help with repeat customers as they are thrilled that you trusted them and will come back for another "peek".
Good luck on your auctions,
Janet @ lanetzliving
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ExecutiveGirl
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posted on January 24, 2001 06:11:30 AM
I've had SEVERAL (we're talking 30+ ) bounced checks which is why I NO LONGER accept them. And it has not hurt my sales either.
A lot of people here have been very lucky to have never recieved one, or never had to go to collections to get their money back - but if you watch these boards closely, you will see that almost every week there is a new thread about "Help! Bounced check! What to do??".
I think just about everyone accepts them until they get stung enough times.
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uaru
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posted on January 24, 2001 06:19:17 AM
Never received a bad check. Never understood some buyers that will refuse personal checks on low cost items from buyers with good feedback either.
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ExecutiveGirl
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posted on January 24, 2001 06:24:26 AM
uaru: Good feedback does not mean they always balance their check book, or that they always pay with good checks, or have money in their checking account.
I have had customers with 300+ feedbacks and NO NEGS who still bounced checks. I remember one of those customers bounced a $20 check, I was charged a $25 bank fee, and after constant emails to her I finally brought the account to collections and it took over 2 months to get my money back from her.
THAT, is why feedback rating is unimportant to some sellers when accepting checks.
BTW - I gave this check bouncer her first NEG.
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iowaantiques
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posted on January 24, 2001 06:35:01 AM
I'll hold a personal check when it looks "funny" i.e. low check number, no address, changed address, ship to a different address etc. I think that this will protect me from a stopped payment, but a bounced check can take weeks to show up. Reguardless, 99% of the time I ship upon reciept and have never had a problem with checks for ebay auctions. For more expensive items I'll change my TOS to no personal checks and nobody has complained.
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ExecutiveGirl
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posted on January 24, 2001 06:38:32 AM
Also, a high-numbered check does not mean it's not a new account.
I can open a new checking account today, and order my first set of checks to start at #5000+ if I wanted to..
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eventer
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posted on January 24, 2001 06:43:01 AM
I've always accepted personal checks, including for some pretty high ticket items. I've been fortunate that only one has bounced though I understand others have not been this fortunate.
I do "reserve" the right (in my TOS) to hold checks but, in reality, rarely do.
Until I start to get more bounced checks & it becomes a significant problem, I'll continue to offer it as a payment option.
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sharkbaby
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posted on January 24, 2001 07:41:32 AM
I don't accept personal checks. However, every now & then I will receive one anyway. I make an individual decision as to how to handle it based upon the reputation of the buyer and the feel of the transaction. If they bank at BofA or WFargo, I will go ahead and cash out the check at a local branch and then there is no problem.
It seems like in many areas there are these "Joe's Bank and Grill" type of banks that I do NOT ever feel comfortable with.
It's an individual choice and my choice is to NOT accept personal checks from strangers that I can't look in the eye!
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katiyana
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posted on January 24, 2001 08:03:13 AM
I don't say in my TOS that I accept personal checks, only money orders and cashier's checks along with the online options. Yet I still find a few personal checks sent anyway (a couple at least ask for permission first). If its a small $ amount, or the person has high feedback, I treat it like a MO and ship ASAP. If not, I hold for 10 days then ship and pray it doesn't bounce after the fact.
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mballai
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posted on January 24, 2001 08:05:54 AM
I think there is something profoundly wrong where a bid is made on trust and paid on trust and then not accepted on trust by someone who, in fact, pays for service he apparently is not willing to trust.
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sharkbaby
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posted on January 24, 2001 08:15:19 AM
mballai:
To be technical, the payment is not actually received until the transference of funds. A check is only worthless paper until you have received what was promised.
When I ship merchandise, I don't just ship a picture of it, I ship the item that has been paid for AFTER it has actually been paid for.
As I stated before, we all have the option of making choices that will work for us and our customers. I provide top notch customer service and, in the events that dictated holding mdse awaiting fund clearance, my customers were completely understanding and in agreeance with the policy.
PS...Trust is a luxury, not an entitlement.
[ edited by sharkbaby on Jan 24, 2001 08:16 AM ]
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mballai
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posted on January 24, 2001 08:38:53 AM
sharkbaby
I'm referring primarily to the acceptance of checks. As to the clearance of checks, the element of trust is probably more important than even the acceptance: if the check does not clear, I get socked with a fee and I then not only have to try and collect on the check but also the fee.
The check clearance time period is a non-value adding component to the auction transaction process and should be completely eliminated because it makes for additional work with no benefit to myself or the bidder.
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sharkbaby
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posted on January 24, 2001 08:54:51 AM
Hi mballai!
Thanks for the clarification. I understand your position more clearly now. I DO, however, still believe that these are important individual CHOICES.
I learn so much from these boards and it is so refreshing to hear the many opinions and reasoning behind them.
______________________________
Sticks & stones may break my bones, but words can break my heart.
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Chris30
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posted on January 24, 2001 08:56:35 AM
The check clearance time period is a non-value adding component to the auction transaction process and should be completely eliminated because it makes for additional work with no benefit to myself or the bidder?
How is it of no benefit? I am trying to understand your posts
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mballai
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posted on January 24, 2001 09:10:03 AM
Chris30:
Everything one does in business should provide some tangible benefit or "value".
I always ask why I am doing something; often referred to as the "payoff". Does it improve service? Sell better? Bring in repeat business? Work better than the competition?
One of the best things you can do is to shorten the time it takes to do something without making the process more expensive. Because I do not hold checks for clearance, my bidders get their stuff much faster. There's no value in holding checks and the cost to me is zip by eliminating it. Can't beat that.
HTH
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