posted on November 26, 2005 08:02:02 AM new
Well...
For starters, BidPay has a $1000 limit...
From what little I know, Bank-to-Bank transfers are very common in EUROPE & very safe for the seller to accept -- HOWEVER, check with yer bank to see if they charge for INCOMING transfers???
NO protection for the buyer, other than a receipt that they transferred $xxx into yoiur account -- seems the same as a PERSONAL SHEQUE????
posted on November 26, 2005 08:46:26 AM new
Your Danish buyer may think doing wiretransfer to US is like ACH among European countries-FREE!
But some may have access to free intl wiretransfer from his office if he is a big shot,I once have a german buyer who asked his secretary to do it for him.
Yes,your bank will charge you a fee for receiving incoming wire like 5-15 dollars,and if it goes thru a secondary bank like a corresponding bank,that bank will also charges a fee.
there is no protection for the buyer,but everything for the seller,once the fund landed in your bank account,it cannot be reversed.
/ lets all stop whining !! /
[ edited by hwahwa on Nov 26, 2005 08:48 AM ]
posted on November 26, 2005 11:17:19 AM new
Just a thought I am not going to give out my bank account number or routing number to anyone other than maybe when I make a payment by phone and I don't think they ask then just account number can't remember but if you give your bank account number out and rounting number then what is to stop them from using your bank account. Has it changed? Just a thought.
Bank-to-bank transfers are the most common form of payment for business transactions, and within the European Union interstate transfers in Euro are usually free and same day. If you are not in immediate need of payment I'd suggest a Bank Check or Draft in US dollars drawn on a US bank - this way you'll get full value without deduction of any fees at your end. If your bank is unfamilar with international banking instruments they may want to charge you a fee, then you will need to talk to someone senior at your bank and point out that it's a US dollar payment on a domestic bank. Or ask if you should take it to another bank.
Buyer has standard eBay buyer protection. Buyer has proof of payment when check or draft is cashed (since it's non-negotiable and can only be deposited to a bank account bearing your name), and since sent via postal service can additionally lodge usual Mail Fraud complaint with USPS Postal Inspectors, and your local law enforcement.
irked, wrote,
...but if you give your (US) bank account number out and rounting number then what is to stop them from using your bank account. Has it changed?
Irked is correct - any scammer or fraudster can withdraw funds from your US bank account by creating a demand draft using just the account number and bank routing number - information found (see; Qchex check writing scam) on every US check, with no signature necessary. You should eventually get full restitution from your bank. Note that this is peculiar to the antiquated US banking system; other countries don't permit bank withdrawals without the account holder's permission. Similarly most foreign banks don't rely on passwords/passphrases alone to secure their online banking systems; most use multiple-factor authentication, government-level crypto, custom applications and other proven methods to provide secure, private banking services.
posted on November 26, 2005 05:26:30 PM new
So Bank Transfer is safe for a seller but my be costly.
agitprop. a cert bank check in US dollars would be good, but now
My buyer is requesting to use Paypal for the full payment and wants to know why I say that I can not accept payment for that amount for an International transaction.
I checked paypal site and they mention if a charge back is made they freeze the amount of the charge back from your paypal funds and it could take up to 75 days to settle, plus if you can not prove you shipped with a tracking number you will not win, is this correct?
There is no tracking number with an International transaction that I know of.
posted on November 26, 2005 05:37:31 PM new
I'd take a wire transfer anyday. They can't be reversed by the buyer (sender). There are numerous websites dedicated to providing
federal routing numbers for any bank. Public information.
Some receiving banks (for the seller) charge a fee; some don't.
Your initial post mentions the preference of that over Bidpay........mail gets lost, if a wire transfer does, they can find it.
(Yes, I have had experience with wire transfers. I received a "significant amount" for a domain name I sold....no problems!)
posted on November 26, 2005 06:02:11 PM new
intl shipment is trackable if you use USPS express mail or Fed Exp intl or UPS or DHL.
But his address in Denmark is not confirmed ,so you are shipping to a non confirmed address which would disqualify you for paypal seller protection if he files chargeback .
as to how safe it is to give out your bank routing number and your account number,ask yourself how much risk do you want to take,how much money do you really keep in that account to make it worthwhile for someone to make out a draft on demand >
a draft must be approved by the owner of that account,not the bank which means it should be presented to you for payment.
Corporate treasurers do this every day,every working day,banks will ask him to approve all the drafts issued by various depts/divisions payable to their suppliers,read MY YEARS WITH GENERAL MOTORS by Alfred Sloan.
/ lets all stop whining !! /
posted on November 26, 2005 06:12:28 PM new
The only risk I can think of when you give your bank routing number and account number to someone say in Nigeria is that they have ways to have checks printed locally.
Then they will be using these checks to make payments for goods,the only way you will find out is when checks start bouncing,either your own or theirs or when the monthend statement comes and you cant reconcile it.
if you are going to stay in business and accept wiretransfer etc,set up a separate bank account for that purpose and always empty the account,Well Fargo bank will let you have an account with zero balance.
/ lets all stop whining !! /
posted on November 26, 2005 06:13:26 PM new
Tonimar1...What methods of payment do you specify as acceptable in your TOS? Give him a choice of those methods and nothing more. When I list a shipment and open it for international bidders, I specify that Bidpay or International Postal money orders are all I will accept. Personally, I would be cautious of anyone who tries to negotiate a TOS after the auction ends. And now he wants to bring Paypal into the picture, knowing full well there is no seller protection if you accept it. Don't ship anything until you have the green stuff in your hands. And if you want to dabble in wire transfers, open an account at a major bank where you have no other accounts, and don't keep more than $25.00 in it. When the transfer comes in, withdraw it and put it into your regular bank account. When choosing the bank, you will want one that has competent people who are familiar with the process and will disclose all fees up front.
A $75.00 solid state device will always blow first to protect a 25 cent fuse ~ Murphy's Law
posted on November 26, 2005 06:48:44 PM newtonimar1:
If you accept a PayPal payment from a Dannish buyer, you are NOT covered under PayPal's Seller's Protection Policy regardless of tracking number or NO tracking number.
If he files a complaint with PayPal, you will LOSE...
For Ralphie & I, the RISK involved with INTERNATIONAL PAYPAL PAYMENTS is greater than we are willing to accept, so, we only accept:
BIDPAY
or
INTERNATIONAL POSTAL MONEY ORDERS
for payment from non-USA (or non-Canada or non-UK) bidders.
Each seller has to determine their own level of risk tolerance...
posted on November 26, 2005 07:10:57 PM new
In my auction I state that for International buyers Bidpay.com is the method of payment.
I sometimes accept paypal if the buyers requests it but for some countries I just can not accept paypal,
I ask them to contact me before bidding to find out what type of payment is accepted for there country.
When the amount is less then 100 I do let them pay with paypal and I do know the risk I am taking but I also always insure there package with DSI, I don't tell them I put insurance on there package, I pay for the insurance they don't.
But with a large amount i'm worried about accepting paypal.
If I need to do wire transfer thats a good idea sparkz opening an account in another bank, but I don't really want to do wire transfer and I don't mention that method in my auction as a form of payment.
This back and fourth emailing about payment is draining me, I want to tell her don't buy the item and lets end it.
posted on November 26, 2005 07:23:13 PM new
let her wire you the money,give her your bank account and routing number.
for christ sake,how many crooks are there in Denmark? They have more mooses and elks in Scandinivia.
Paypal fee for intl transactions is higher than domestic transactions,so for 1500 it woould cost you say 45 dollars.with wiretransfer it would cost you 25-35 dollars and there is no chargeback and no reversal.
I sell nothing but foreign stuff and I wire money to different parts of the world,never a problem/
/ lets all stop whining !! /
posted on November 26, 2005 07:34:40 PM new
If you do accept a wire transfer,make absolutely sure your bank is savy enough to process it. If you live in San Francisco, and bank with BofA, Wells Fargo, Citi, or Chase, it's a piece of cake. They have staff that does nothing but process these transactions. If you live in Podunk, Arkansas, and deal with Homer's Jiffy Lube and Bank, and their idea of high tech is an adding machine made in 1957, there could be problems. It's your money. Don't trust anyone until you're sure they can protect it.
A $75.00 solid state device will always blow first to protect a 25 cent fuse ~ Murphy's Law
posted on November 26, 2005 07:56:55 PM new
It's a shame Denmark doesn't have post offices where he could purchase an international money order. The problem would be solved. I guess they're waiting for running water and electricity before they worry about things like a post office.
A $75.00 solid state device will always blow first to protect a 25 cent fuse ~ Murphy's Law
posted on November 26, 2005 08:02:32 PM new
yes hwa, that is what I suggested to her but then she changed it and wanted to wire the money then she wanted to paypal all the money
This has been going on for two days now and i'm going to email her now and tell her payment is my way or just forget about the deal.
She writes and tells me: "I am not protected with Bidpay, but I could do a bank to bank transfer if that would work for you? "
When she said that, that's what made me come in here and find out about bank Transfer.
posted on November 26, 2005 08:31:01 PM new
"I am not protected with Bidpay
That's the red flag. She wants the option of doing a chargeback if she chooses to do so, which will net her the item and the money and leave you empty handed. A wire transfer is secure enough, providing the bank doesn't screw it up or gouge you with outrageous fees, and provided it's a bank where you have no other accounts. She can go to any Western Union office and wire that money to you and you can ship tomorrow. She can also send an International Postal Money order. I would very seriously consider doing an Unpaid Item dispute when the time limit is up, and check the box that she won't pay with a method you accept.
A $75.00 solid state device will always blow first to protect a 25 cent fuse ~ Murphy's Law
posted on November 27, 2005 06:01:08 AM new
What is the item?is it worth 1500 dollars?
and how big is it??
If she says she would do wiretransfer,then let her do it,the chances of her printing up drafts /checks and siphoning fund from your bank account is as remote as a moose or elk showing up at your doorstep on xmas day!
/ lets all stop whining !! /
posted on November 27, 2005 07:24:22 AM new
If the item is over $1000 they cannot do it your way. Here's ann idea... open a savings account at your bank. They are generally free for account holders. Give them that account number for the transfer. They can send money into the account however it's going to be kind of difficult to write a bad check on a savings account.
~~~ • ~~~ • ~~~ • ~~~ • ~~~
An intelligent deaf-mute is better than an ignorant person who can speak.
posted on November 27, 2005 07:45:37 AM new
The retail Value is is 3500.00 I'm selling it for 1500.00, its a diamond ring
I told her wire transfer would be fine but now she wants to paypal me all the money and I said no so I don't know how this will end up but if I have to void this transaction I will because I can not accept paypal from Denmark.
