When selling I do not take checks, because of the trouble of going to the bank waiting in line for a teller, so I can cash the cheque and the chance that a check may bounce and I get charged a fee.
I do take money orders,it must be an International money order. I know I still have to go to the bank, but there is no real rush to do so.
I also take cash, but no coins sent at buyers risk.
I prefer Paypal as payment.
I prefer PayPal because it is easier and faster to handle. Also if you need to do any type of a refund it is easy to do so. However, I have no problem with personnel checks now - since I can easily deposit them using my bank's app on my Iphone. Just have to take a picture of the front and back and with a few key entries it is deposited. It used to be a pain to go to the bank for a low value check to deposit it - now it is a snap. However, I do not accept money orders anymore - because they can not be deposited via the phone app. Steve
PayPal or International Postal Money Order - no need to worry about checks bouncing. I prefer as both buyer and seller to use PayPal. Just nice and quick and easy to take care of - as soon as invoice is received, I pay.
Having received many checks over the years and never, ever having one "bounce", I will happily accept personal checks. Like Steve, today, it's not really an issue to deposit checks to your account, with all the newfangled do-dads these new smartphones can do. I do remember holding a few checks while selling on the big E, but don't even bother holding them here on SOR. Heck, if you need stamps that bad, just call me. (No I won't put my number here.) I deposited one the other day and the bank immediately sent me a picture of my money.
Mike
Mike, wasn't this pic was it, seems this
lady is also interested.
I always prefer checks. Paypal charges a fee.
Greg
Bob,
My two cents' worth... As a buyer, I use PayPal all the time. It is easy. It is too easy. With PayPal, I can send my money away so easily, that it makes the buying decision more impulsive and the entire transaction less personal than it would be otherwise.
Several sellers I buy from do not use PayPal. That forces me to slow down, get out the checkbook, write a note, address the envelope, and frank it with some old commemoratives. By the end of all that, I feel like a human being again!
I guess I'm glad that most of my purchases are digital and quick, but I am now thankful for the occasional slower analog human-to-human (via the mail) exchange.
-Steve
For my bit of selling experience here's my 2c worth:
1c = This is already sometimes too much like business between sorting, scanning, posting, invoicing ... etc etc etc ... so if PayPal makes accepting (and eventually sending) money easier then it's brilliant.
2c = My billing rate to clients is $125/hr. My SOR ROT (an appropriate acronym for Stamporama's Return on Time) is about $0.0127/hr. and the error by my local bodega's private postal outlet (see my rant elsewhere) has already cost me 2x the fees paid to PayPal so far. So as long as I don't have to pull my daughter out of University their fees are inconsequential.
3c = BONUS THOUGHT! I recently said I'd take a $5 bill on a $5.25 lot instead of going through PayPal (at the buyer's request). So flexibility is great and the good will may (hopefully) lead to more pleasant interactions.
Thanks to everyone for sharing their experiences and thoughts about my question. I think you've got me heading in a direction I can be content with.
Bob
I would prefer to use only PayPal for payments, but I understand that some people refuse to use PayPal (which I don't really understand at all!).
I would accept personal cheques, but only from U.S. or Canadian customers, although I don't like slowdown that occurs while waiting for cheques to clear. They add just one more level of administrivia to the process.
I would like to know from Canadian sellers whether they accept money orders, bank drafts, etc. from foreign countries. I myself have often sent bank drafts to foreign countries, but I don't know how Canadian banking institutions handle such paper from other countries. I assume there are particular types money orders that are universal? (I'd check with my credit union, but it's closed until Tuesday.)
Bob
re: Thinking about selling stamps & covers in auction — Next question
When selling I do not take checks, because of the trouble of going to the bank waiting in line for a teller, so I can cash the cheque and the chance that a check may bounce and I get charged a fee.
I do take money orders,it must be an International money order. I know I still have to go to the bank, but there is no real rush to do so.
I also take cash, but no coins sent at buyers risk.
I prefer Paypal as payment.
re: Thinking about selling stamps & covers in auction — Next question
I prefer PayPal because it is easier and faster to handle. Also if you need to do any type of a refund it is easy to do so. However, I have no problem with personnel checks now - since I can easily deposit them using my bank's app on my Iphone. Just have to take a picture of the front and back and with a few key entries it is deposited. It used to be a pain to go to the bank for a low value check to deposit it - now it is a snap. However, I do not accept money orders anymore - because they can not be deposited via the phone app. Steve
re: Thinking about selling stamps & covers in auction — Next question
PayPal or International Postal Money Order - no need to worry about checks bouncing. I prefer as both buyer and seller to use PayPal. Just nice and quick and easy to take care of - as soon as invoice is received, I pay.
re: Thinking about selling stamps & covers in auction — Next question
Having received many checks over the years and never, ever having one "bounce", I will happily accept personal checks. Like Steve, today, it's not really an issue to deposit checks to your account, with all the newfangled do-dads these new smartphones can do. I do remember holding a few checks while selling on the big E, but don't even bother holding them here on SOR. Heck, if you need stamps that bad, just call me. (No I won't put my number here.) I deposited one the other day and the bank immediately sent me a picture of my money.
Mike
re: Thinking about selling stamps & covers in auction — Next question
Mike, wasn't this pic was it, seems this
lady is also interested.
re: Thinking about selling stamps & covers in auction — Next question
I always prefer checks. Paypal charges a fee.
Greg
re: Thinking about selling stamps & covers in auction — Next question
Bob,
My two cents' worth... As a buyer, I use PayPal all the time. It is easy. It is too easy. With PayPal, I can send my money away so easily, that it makes the buying decision more impulsive and the entire transaction less personal than it would be otherwise.
Several sellers I buy from do not use PayPal. That forces me to slow down, get out the checkbook, write a note, address the envelope, and frank it with some old commemoratives. By the end of all that, I feel like a human being again!
I guess I'm glad that most of my purchases are digital and quick, but I am now thankful for the occasional slower analog human-to-human (via the mail) exchange.
-Steve
re: Thinking about selling stamps & covers in auction — Next question
For my bit of selling experience here's my 2c worth:
1c = This is already sometimes too much like business between sorting, scanning, posting, invoicing ... etc etc etc ... so if PayPal makes accepting (and eventually sending) money easier then it's brilliant.
2c = My billing rate to clients is $125/hr. My SOR ROT (an appropriate acronym for Stamporama's Return on Time) is about $0.0127/hr. and the error by my local bodega's private postal outlet (see my rant elsewhere) has already cost me 2x the fees paid to PayPal so far. So as long as I don't have to pull my daughter out of University their fees are inconsequential.
3c = BONUS THOUGHT! I recently said I'd take a $5 bill on a $5.25 lot instead of going through PayPal (at the buyer's request). So flexibility is great and the good will may (hopefully) lead to more pleasant interactions.
re: Thinking about selling stamps & covers in auction — Next question
Thanks to everyone for sharing their experiences and thoughts about my question. I think you've got me heading in a direction I can be content with.
Bob