Preferred or safest payment method???

[fmblizz]

When board members are selling machines (not through Ebay),, what form of money exchange do you feel is the safest.. I am looking to sell a machine on Craigs List and other than cash, I want to make sure I don't get scammed..

Postal Money Order, Bank Checks, Certified Checks, E-Checks. ???

Not sure what an E-check is but people are starting to use them alot.

I have heard that even using Paypal to complete the transaction, the buyer can still put a stop on it.

Blizz

[52089]

When dealing with strangers, my three most preferred methods are cash, cash, and cash.

I will accept money orders, but only the ones from the post office, not the local convenience store. I generally won't even take a bank/certified check.

I'm fine with PayPal too, if it can be done without their 3% fee.

Of course, if I'm working with someone I know, I'll take anything that's convenient for both parties.

[Cody K]

Blizz, I've been selling and buying things on Craigslist for I suppose seven or eight years now, and every transaction has been in cash. At least in my area (Southern New England), cash seems to be the expected mode of payment (apart from those buyers that want to send the seller a check for a bazillion dollars through their "agent", with the seller expected to return the "change" to the buyer...). If someone really wants to buy something, they'll make the small effort required to stop by an ATM on the way.

If you haven't sold on Craigslist before now -- be aware that you will get responses simply asking if "the item" is still for sale. Dodge this hazard by asking in the ad that respondents refer to the item by name both in the subject line and the body of their message. Also put in the ad something to the effect of "if this ad is still up, the [thing you're selling] is still for sale", and then do take the ad down promptly when it's sold. These days you're sure to get at least some bogus responses when selling on Craigslist, unfortunately, but you can minimize that by doing the above.

[Chuck]

The really nice thing about USPS postal money
orders is that they can be cashed right at the post office.

Paypal works great too if the service fees
are avoided.

Chuck

[fmblizz]

I have sold a few items on Craigs List but it's always been a cash transaction. I already have a buyer but he is located a few states away which creates this payment situation.

This deal is for a couple grand and I want to make sure all bases are covered.

He would like to pay using an E-Check but I no nothing about them. Think I would feel safer with a Postal Money Order.

Blizz

[gramophone78]

I have sold a few items on Craigs List but it's always been a cash transaction. I already have a buyer but he is located a few states away which creates this payment situation.

This deal is for a couple grand and I want to make sure all bases are covered.

He would like to pay using an E-Check but I no nothing about them. Think I would feel safer with a Postal Money Order.

Blizz

If your that concerned about a $2000 deal.......I would suggest reading CL's "scam avoidance" section. The first rule is pretty clear.....

"DEAL LOCALLY WITH FOLKS YOU CAN MEET IN PERSON—follow this one rule and avoid 99% of scam attempts."

You can also read about E-checks on the PayPal site.

Anyone (you don't know) that is not willing to pay by PP is a "red flag"...IMHO. Especially these days where everyone has PayPal.

Not to mention CL is one of the best venues around for scammers.

[fmblizz]

Thanks for the replies everyone. The buyer suggested Paypal but I have this thing about giving up 3%. I have always heard you can't go wrong using a Postal Money Order but was curious about what others on this site have been doing in the same situation.

Blizz

[Dave]

If you send someone money by Paypal as gift (like you would for a friend or family member)..there is no fee if the sender uses funds from their bank account or PayPal balance
https://www.paypal.com/us/webapps/mpp/p ... ees?bn_r=o

[rgordon939]

I agree with the first reply CASH CASH CASH. I have seen to many bad Postal Money Orders in my time. Many for big ticket items. I would only accept them or checks from people you know.

I am a retired Postmaster with 42 years service of a facility with over 200 employees.

Rich Gordon

[gramophone78]

Thanks for the replies everyone. The buyer suggested Paypal but I have this thing about giving up 3%. I have always heard you can't go wrong using a Postal Money Order but was curious about what others on this site have been doing in the same situation.

Blizz

Postal MO's are also known to be faked. There are many "scam" warnings regarding them too. If 3% is your only issue.....without sounding rude........"Greed" is what normally gets one caught in a scam. IMO, a very small price to pay for piece of mind.
As already mentioned......you can have the buyer send you the money via PP as a "gift" and they pay the fee.....not you.
It also puts more risk on the buyer. So, they may not wish to do that.