posted on May 2, 2006 06:45:10 PM
First off, I'd like to introduce myself to the group. Long time lurker but brand new Vendio customer. So far I'm enjoying using Vendio and would welcome any tips, etc.
Now for my first official post - Since Ebay has outlawed Bidpay I'm left without a good option for international buyers. I know there was some talk about Auctionchex but I hadn't followed the boards for a while so, I'm not sure where that went.
See, my problem is my higher price items have a good international appeal and I've done ok previously with them (vintage instruments). I would only accept Western Union/Bidpay because I don't trust Paypal for large sums ($500 to $5,000+ possible). Now I cut out international bids for the time being.
Any help? Thanks, I've learned a lot from this board and it is one reason I joined Vendio.
posted on May 2, 2006 06:51:40 PM
I only accept International Money Orders, according to my auctions. If I get into an e-mail correspondence with the buyer, I mention Western Union then. I don't accept PayPal internationally on any amount, large or small. I accept wire transfers for amounts greater than $1000 (it's too expensive otherwise).
posted on May 2, 2006 06:58:35 PM
Bidpay ceased operations on Dec 31st. It's assets were purchased later by another company. They plan to relaunch it this summer. For now, international money orders are the only safe option Ebay will allow you to advertise in your auctions. After the auction ends, you can offer Western Union wire transfers in your email correspondence with the customer.
If Murphy's law is correct, everything East of the San Andreas Fault will slide into the Atlantic
posted on May 2, 2006 07:13:19 PM
Thanks for the speedy replies. Do you know of any issues with international money orders that I might want to be aware of?
I have mentioned WU when being asked by a bidder but it sometimes doesn't do much good.
posted on May 2, 2006 07:27:19 PM
Specify an international POSTAL money order payable in U.S. dollars. These can be cashed at any post office without fees. If their country is not a signatory to the treaty for postal money orders. You can ask for a Western Union Money Order. These can be verified at any Western Union outlet before cashing. If they state they cannot obtain a WU money order in their country, then they probably don't have indoor plumbing or electricity either, which makes you wonder how they are able to bid and send you an email.
If Murphy's law is correct, everything East of the San Andreas Fault will slide into the Atlantic
posted on May 2, 2006 09:39:02 PM
cmusic wrote: See, my problem is my higher price items have a good international appeal and I've done ok previously with them (vintage instruments). I would only accept Western Union/Bidpay because I don't trust Paypal for large sums ($500 to $5,000+ possible). Now I cut out international bids for the time being.
First you need a good bank - not always easy in the USA. (For a start a US bank that understands that New Mexico is a state, and Mexico is a country...) Anyway if you find a good bank that understands international banking you are halfway to success. You probably want to accept Money Orders (Postal and Bank issued) denominated in USD and payable on a USA bank. Postal MOs are cashed at USPS outlets, while Bank issued MOs must be deposited for negotiation but usually a good bank will do this for free; bad ones cost an arm & a leg. Note that few countries still offer Postal MOs as these have mostly been replaced by Giro or cross border electronic bank account to bank account transfers. Other options are international wires over the SWIFT network (which should be in USD) - ask your bank if they are connected to the SWIFT network; if not you'll pay a lot more for incoming transfers. Some USA banks offer them for free while others routinely charge $15 to $50. Be prepared to put some legwork into it as a good bank will save you both money and time down the road.
posted on May 3, 2006 04:40:06 AM
I had started a previous post when my daughter sent an International money order in Euros to France, and the buyer wouldn't accept it because he said it cost too much in charges. I don't know how many countries this applies to, or if there are any problems in high charges to change them in the US or Canada.
posted on May 3, 2006 06:54:02 AM
Amber,
read what agit said-
You probably want to accept Money Orders (Postal and Bank issued) denominated in USD and payable on a USA bank.
////////////////////////////////////////////
It is not the issuing bank ,it is the bank where the fund is drawn on which is giving your French seller HEARTBURN -her bank cannot clear with this bank ,it has to go outside its clearance system to do so and that costs money.
So,your daughter would have to buy the money order denominated in Euro and payable on a French bank.
Hindsight said she should ask her seller to go to her bank and ask for a list of banks it clears with and then she will go shopping for a money order which is drawn on any of these banks on the list!!
WOW,who wants to do all that work ??
[ edited by hwahwa on May 3, 2006 07:02 AM ]
[ edited by hwahwa on May 3, 2006 07:03 AM ]
posted on May 3, 2006 12:56:33 PM
I have been PLEASANTLY surprised with the CONVENIENCE & SECURITY of:
Direct Bank-to-bank Wire Transfer
which I've used three times so far for EXPENSIVE international orders.
Before going ahead, I went to my branch manager (COMPASS BANK) and had a long discussion with him about this "modality" (hee!hee) as to the mechanics of it plus security:
One does have to give the purchaser one's ACCOUNT NUMBER + the BANK'S ROUTING NUMBER...
He assured me as to the future SECURITY of my account...PLUS, I keep a very low balance in this FREE CHECKING account & basically have it only to be able to deposit infrequent mailed eBay payments, etc...
COMPASS BANK charges me $12.00/transaction, which I offer to SPLIT 50/50 with the purchaser ahead of time. If the transaction is HUGE, I just EAT the whole fee as a courtesy...
I DO look forward to the phoenix-from-ashes of BIDPAY for smaller transactions...
posted on May 3, 2006 01:38:34 PM
Cmusic,
if you have been serving the music industry for 40 years,do you have your own merchant account??
If you do,then you can skip Paypal and accept credit cards direct with your merchant account.
You can do your own detective work and look up their intl address,verify with their banks and call them on the phone,ask them to fax you a copy of their cc statement and front and back of their credit card.
But Tom's way is the best for you since there is no more BIDPAY,there is no chargeback and there is no counterfeit.
One HK based business woman once told me how she does business with Chinese in China,she does not want to touch any $$,not cashier check,not cash or bank draft,she wants wiretransfer only,this is the only way she knows the money is good.
/ lets all stop whining !! /
[ edited by hwahwa on May 3, 2006 01:49 PM ]
posted on May 3, 2006 01:43:21 PM
Hwa - if they have a merchant account, do you really think that would not already be aware they can take international payments?
~~~ • ~~~ • ~~~ • ~~~ • ~~~
People put their hand on the bible, and swear to uphold the constitution. They do not put their hand on the constitution, and swear to uphold the bible.
posted on May 3, 2006 01:57:39 PM
thats true,Fenix.
Then I will say the best way is to ask them to wire her the $dough$.What's 50 dollars wiretransfer fee if they are paying for a 5k instrument??
But then what happens to buyer protection,what if the instrument is not as described? or damaged in transit and insurance claim is denied??They will be out of a large sum of money??
/ lets all stop whining !! /
posted on May 3, 2006 05:57:22 PM
We do have our own merchant account but the fear there is chargebacks that we wouldn't be able to fight effectively.
I'm going to check into bank wire options as that might be better and I understand in Europe it is fairly common.
Bear in mind not every instrument is 5K many are $1000 or less, so 50 bucks will mean more. The plus side is that sometimes the international bidders will pay a bit more so that might offset the handling fees.
The shame is 99% of the buyers are probably OK for credit cards direct. But that 1% will kill ya!
Over 40 years of serving the musical community!
posted on May 3, 2006 06:22:58 PM
http://xe.com/
Someone recently signed up with this service,if you can get your bidders to sign up and use this service,you will be all set.
Europeans can do cross border EFT like we do ACH,but you have to have a European bank account,it wont work with a US based bank account.
/ lets all stop whining !! /
[ edited by hwahwa on May 3, 2006 06:28 PM ]
