selling stuff online
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- ukit
Let's say you are selling something fairly expensive outside of eBay. Is there any good way to handle payment besides them just paying via Paypal and you mail the item?
I was trying to think if there was anyway I could give the buyer more of a guarantee, personally I'd feel kind of weird about a transaction like that.
- plash0
do you still need the escrow?
- ukit0
Escrow is one option. It's a kinda heavy handed though. I was trying to figure out if there's anything else people normally do
- plash0
Yeah,
i do online payments via merchant account with Bank of America.
Visa/AmEx/Master/Discovergoogle has a proxy called google checkout in which you can do online payments. (i use them from time to time) at a 3.5% fee. which is a little more than my BOA fee. (last i checked)
if i need escrow i use paypal with transaction fees paid by the client.
- monoblanco0
Since we are on the topic, how do you guys feel about Paypal vs. say the Bank of America solution.
I'm using pay may right now and what bothers me about it is that if the costumer's email has been used on Paypay previously, Paypay requires the user to sign in. I've found that this turns off some people.
- trooperbill0
sagepay - £20 per month no additional fees
- plash0
My views are simple: Take out the middle man.
if you go through yahoo, google, paypal or the millions of other third party merchant services you'll pay them a percentage per transaction. (typically 2.5% per transaction) add in the credit card surcharge and by the end of the processing you may pay a total of 3 to 5%. (outrageously high) Cut Them Out of the picture!! its a fuck you prtactice to begine with and you get keep more of your money and wait less time to get paid. in perspective. 2.5% on a $3,000 (usd) invoice is $75.00. Dont forget its *Per Transaction*
- GRAC0
@plash
What do you suggest? Send the money in the envelope?
- plash0
For smaller amounts a direct paid in full transaction is simple enough. invoice by email or check is often the case if by check then there isn't a problem, end of discussion.
For larger invoices say few thousands then a credit charge is standard; so you need a processing mechanism. Note you're gonna pay someone to do it. 3rd party rates are completive and often are determined by your sales volume during a calendar month.
open a business bank account and pay for the merchant services they offer. Transaction services will cost a lot less and you'll skip the per transaction fees BS. yes you'll have to pay your bank annually for that service but you're now paying once less person to get that money. its better business.
@GRAC i've answered you're question before you asked it. read 1st response.
- ukit0
Bump
Thanks for the info, but I was talking more about selling a single expensive item. After reading around I've become nervous about using Paypal as it seems the buyer has the ability to file a chargeback with their CC company with very little protection for the seller.
I guess an Escrow service would be more secure, right?