Cash Deals

[Fool Injected]

I am looking for advice on cash deals. All my transactions until now have involved trades of merchandise.

I have had a couple of chances to makes deals involving cash. I do not have a pay pal account. What is the best way to handle these types of transactions?

[Mospaeda]

Buy a money order, I think its easier to track who cashed it and the receiver will have more confidence that it will not 'bounce', like a personal check can. When I receive a money order, I still wait a few until its cleared the bank before I ship though.

Don't ever send cash - that goes w/out saying.

Last, get a Paypal account! Makes life so much easier and, I believe, you're protected against non-delivery. That may be if you buy on Ebay only though - gotta go check

Mospaeda

[casiowiz]

Money Orders work well (especially if receiving from zero or low feedback users). If they have a lot of good references I'll accept a personal check.

Otherwise, a paypal account is worthwhile. It is free to send money using it and only costs "premier" members to receive money using it.

Hope that helps.

[MagickalMemories]

Both posts so far are dead-on. Money order.
I'll go so far as to suggest a postal money order (if you & they are both in the US). The receiver can actually take it to the Post Ofice and cash it. Then, they won't have to worry about whether there's a stop payment order on the M.O., or if it's counterfeit...

Additionally, I'd like to say take all the same precautions as you would with a trade. especially in regards to who ships first.

I don't care if it's cash or trade, I ALWAYS follow the same rules. Just think of the money order as YOUR side of the trade.

Eric

[Fool Injected]

Thanks everyone for the replies. I am going to pay pal account soon.

Mike

[ivanbosk]

Get a paypal account. Transactions are insured and if there is fraud on either parties part, paypal will get involved and solve the dispute.

[MagickalMemories]

Get a paypal account. Transactions are insured and if there is fraud on either parties part, paypal will get involved and solve the dispute.

Unfortunately, that is incorrect.

If you buy stuff from me OUTSIDE of Ebay, and I send you one miniature in an otherwise empty box, PayPal will NOT get involved, as the package arrived but items were not as promised.

It's in the TOS and in the resolution stuff.

I was made shockingly aware of it earlier when I thought I might have to try to use it.

PayPal really doesn't do a whole lot of extra for anyone. They stick to the printed rules and nothing more.

The only time they get involved outside of Ebay is when NOTHING is sent.

Eric

[narceron]

MM, I think we disagree, I was ripped off totally by a guy using paypal. I paid for a plush toy from residencelife.com and it never came, two years later, I'm still waiting.

paypal has done nothing, despite my constant petitions. If you know a better way to go, let me know.

[MagickalMemories]

MM, I think we disagree, I was ripped off totally by a guy using paypal. I paid for a plush toy from residencelife.com and it never came, two years later, I'm still waiting.

paypal has done nothing, despite my constant petitions. If you know a better way to go, let me know.

The following quote is directly from the PayPal web site.

Claims must be filed within 45 days of the PayPal payment

You may not file a claim if you are simply disappointed with the item you have received. Items must be significantly not as described or never received.

Did you file your first claim within 45 days? If not, there you go. If so... then PayPal screwed up.

Eric