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Ebay Payment from Foreign Buyer

Started by Matt CLC#18621, January 24, 2012, 09:13:21 AM

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Matt CLC#18621

What is the safest way to receive payment in US$ from a foreign buyer?

Thank you.

Matt
CLC# 18621

PHIL WHYTE CLC 14192

Paypal I reckon. I often buy from the USA - I live in England and that is the way that I pay, never had any problems. I have an on line business and take both Paypal and credit card payments from all over the world. Phil

tozerco

PayPal if you have an account and an email address. You may have to adjust the price a bit for their fee but still far and away the best.
John Tozer
#7946

'37 7513
'37 7533

76eldo

Matt,

Depends on the amount.

Paypal rates are higher if the funds originate overseas.  I recently received a Paypal payment for about $2000.00 and the fee was $86.00, not the normal 3%.

If you are dealing in higher dollar figures, wire transfer is the most secure.  There are fees with this too, your bank will have an incoming wire fee, and the exchange rate may not be exactly correct.

Brian
Brian Rachlin
Huntingdon Valley, Pa
I prefer email's not PM's rachlin@comcast.net

1960 62 Series Conv with Factory Tri Power
1970 DeVille Conv
1970 Eldo
1970 Caribu (?) "The Cadmino"
1973 Eldorado Conv Pace Car
1976 Eldorado Conv
1980 Eldorado H & E Conv
1993 Allante with Hardtop (X2)
2008 DTS
2012 CTS Coupe
2017 XT
1956 Thunderbird
1966 Olds Toronado

The Tassie Devil(le)

I have found that PayPal is the cheapest, for small amounts, but large amounts, use Bank Cheques.

But, Visa Cards are the best, if you can rely on the person you are dealing with.

But, I never use Western Union.  Caught once, and never again.

Bruce. >:D
'72 Eldorado Convertible (LHD)
'70 Ranchero Squire (RHD)
'74 Chris Craft Gull Wing (SH)
'02 VX Series II Holden Commodore SS Sedan
(Past President Modified Chapter)

Past Cars of significance - to me
1935 Ford 3 Window Coupe
1936 Ford 5 Window Coupe
1937 Chevrolet Sports Coupe
1955 Chevrolet Convertible
1959 Ford Fairlane Ranch Wagon
1960 Cadillac CDV
1972 Cadillac Eldorado Coupe

76eldo

For parts and small items, Paypal is great.

Be advised though, Paypal will always side with the buyer initially in any dispute and take the money back out of your account, then ask you what happened.  That can be a problem.

For something more expensive, like a car, wire transfer is the only way to go.  Credit cards can and are faked every day, and you can't trust a paper check.  There are so many ways to get scammed with a check.  Nigerians have a scam where they will order wholesale quantities of almost anything, "pay" for it with credit card numbers the will get authorized, but will bounce back in 2 weeks.  They hope that you will ship the goods before the credit card gets charged back.  I took an order for $19,000 worth of smoke detectors.  I knew it was a scam and didn't ship anything, but my bank balance was up $19,000 for two weeks.  Then the bank took the money back, and had the nerve to try to collect the credit card processing fee.  THEY approved the cards, THEY credited the funds into my account, but then insisted I was duped, not THEM.  Took a couple of days but I got them to reverse the fees.

Once money is wired into your account, it is not reversible, and is instantly available as cash.  The only information you have to give the sender is exactly what is on one of your checks.  Your bank's routing number, and your account number.  This is not secret or sensitive information, it's on every check you write.  In addition to that, you need to give your local branch address and phone number, and if the wire originates from a different country, there is something called a Swift code.  Your local branch can provide all of this info.

Brian
Brian Rachlin
Huntingdon Valley, Pa
I prefer email's not PM's rachlin@comcast.net

1960 62 Series Conv with Factory Tri Power
1970 DeVille Conv
1970 Eldo
1970 Caribu (?) "The Cadmino"
1973 Eldorado Conv Pace Car
1976 Eldorado Conv
1980 Eldorado H & E Conv
1993 Allante with Hardtop (X2)
2008 DTS
2012 CTS Coupe
2017 XT
1956 Thunderbird
1966 Olds Toronado

tozerco

Be a bit cautious with bank transfers. I once sent a large amount for a car after (I thought) finding out and allowing for all the fees only to find out that there was a receiving bank fee that my sending bank couldn't tell me about of an extra $25. Of course to send another $25 would have cost me an extra $25 and so on ad infinitum. Stuffed $25 in an express envelope in the end and crossed my fingers.
John Tozer
#7946

'37 7513
'37 7533

Jay Friedman

I agree with Brian.  While Paypal is OK for small amounts, for international payments a wire transfer into your bank account is best for any amount you consider "large".  I recently did this, and while the bank at which I have my checking account charged a $25 fee for the incoming foreign wire transfer, I considered it worth it for the peace of mind.  I subsequently found out that a second bank at which I have a savings account doesn't charge any such fee, so will use it if need be in the future.
1949 Cadillac 6107 Club Coupe
1932 Ford V8 Phaeton (restored, not a rod).  Sold
Decatur, Georgia
CLC # 3210, since 1984
"If it won't work, get a bigger hammer."

cadillacman

for what its worth, living in the UK Paypal works for me, but i agreed the fees paypal-ebay can soon mount up on large amounts
Chrome is my favorite color!