posted on October 17, 2001 08:58:05 AM
Hi! I have always accepted only checks or money orders as payment. For the first time, a buyer is using BidPay. At first, I thought he couldn't, since I am not a BidPay seller, but now I find that he can, and a BP money order is coming my way. The BP people want me to sign up but the deal looks too good to be true.
Is there a downside to registering with BP? Are there fees for the seller that I don't see in the message they sent me? Anything I need to know?
posted on October 17, 2001 09:12:17 AM
There is no downside to accepting their payments, they're MO's are no different from a bank or postal money order. However, I would NEVER use them to pay anyone. Fees start at $5. Ouch!
posted on October 17, 2001 09:25:23 AM
Just don't ship before you get their second notice that the payment is on the way. I seem to recall they send a first notice that the payment is being processed, then a second notice that the payment has been sent. Don't ship until you get the second notice.
posted on October 17, 2001 10:08:58 AM
There are no fees to the seller. The advantage to registering is that then you are in their files so they can always look up your correct address in case the buyer makes a mistake. Always wait until the second email saying payment is on the way. Recently some sellers started saying to wait for the actual MO because a few claim it never arrived.
posted on October 17, 2001 12:47:21 PM
I find Bidpay very useful for International transactions.
It's reassuring to many Int'l. bidders that their payment is taken care of and they, and the seller, won't have to figure out and pay currency-exchange/conversion fees etc.
Best is that there's a "go-between" if either buyer or seller claims payment was "lost in the mail" , or not sent, or payment may take over 10 days from, say, Canada (sorry, couldn't resist..just had one of those).
The $5.00 fee is worth it in such cases, for the relative peace of mind.
Possible disadvantage : if you list Internationally, or use the logo in all auctions: the limit is $500.00 each Money-Order.
Best to say in the description that Bidpay is unavailable if you know the item will fetch more.
posted on October 17, 2001 01:12:43 PM
I agree, a lot of my Internationally buyers have used it. I have never offered it, I sell low price items, and it seems offensive to offer a payment system for a cost of $5, for a item that costs less than $5, but I am amazed at how many people do it. I have never had a problem, I mail on the second confirmation email.
posted on October 17, 2001 01:24:41 PM
Thanks, everybody. I have two more questions:
1. I'm about to register as a seller with BidPay. Is there a downside to the logo they would provide? Is it obtrusive? Does it take a long time to load? Where is it on the auction page?
2. Sounds like this would make it easier to sell internationally (but not the actual shipping part!). Does BidPayactually convert the payment due so that I get my payment in actual U.S. dollars as listed?
