Thread: Newbie question on B/S/T payments

I'm pretty new here. How do people usually pay or get paid for things they post in the B/S/T thread? I may have some razors and other things I'm looking to get rid of soon. Is Paypal easy? what about personal checks? Or straight up cash in an envelope? Sorry for a potentially ignorant question.

Paypal seems to be the preferred method.
Paying by check would obviously slow
things down.

John

Paypal and Postal Money orders are both safe, easy, and quick.

Cash in an envelope is probably NOT recommended. PayPal is used for pretty much everything, as far as I can tell.

First, keep in mind that BST is not a substitute for ebay... it's a place members can use to buy/sell/trade an occasional razor, etc. Ie, don't plan on running a "razors-for-sale" business on the SRP BST forum. Also, keep in mind that we have an International membership... you'll need to restrict your for-sale posting if you are unwilling to deal with international shipping and/or payment issues.

Paypal is the most universal payment method and it's available for most, but not all countries. It is preferred by many because no one has to leave their home to buy anything or deposit anything and the funds are guaranteed to be there. The seller incurs fees for Paypal. When receiving foreign payments you need to make sure the buyer remits in US Funds.

Money orders are the second most popular payment method. USPS "green" money orders work well domestically. Many countries have "international money orders" that are cashable in the US (analogous to the USPS "pink" money order that is used by US buyers when making Canadian purchases). In some international situations the funds may be placed on hold for awhile by your bank. The buyer incurs a fee to purchase the MO and the seller may incur a fee depending on the MO and where they cash it... USPS MO's are cashed free at USPS offices. International money orders may/may not be in US Funds... plan on dealing with exchange rates in some cases.

Thanks for the thorough reply Joe.

i would agree that paypal is the easiest way to do things. noone has to leave your house, its instant and easily verified. things to remember on paypal. if the buyer pays you using an existing balance he has on paypal or a verified/linked checking account then the seller incurs no fees. if he has a balance on his paypal then the payment is instant. if he takes it out of his checking account to pay you there is no fees however paypal will hold the money till the "e-check" clears his bank (usually 4/5days).

now if the buyer pays using a credit/debit card thru paypal then the seller incurs fees usually around 6% for standard paypal accounts. the funds are transfered instantly but paypal subtracts that 6%. the seller has no way of knowing which method of payment the buyer is planning to use. when i have sold something on the BST i have always used paypal. if the buyer is paying thru paypal using a credit/debit card i kindly ask the buyer to increase the payment by 6% to cover the fee based on his choice of payment method. so you sell something for 50$. in the PM you send the buyer simply ask that if he is paying with credit/debit card thru paypal that paypal will take 6% fee which would be 3$ and thus if he is paying using credit/debit card please send 53$ to cover the price plus fee.

i have sent cash when i was a buyer when i am sending an item. say if you are sending a razor out to get honed by someone. then you need to send that person a razor so i will just put the cash in the box with the razor when i send it. i don't use cash if i am not initiating the mailing.

paypal is nice becuase of the convenience plus instant transfer of funds. when someone makes a purchase they are usually excited and want the item asap. however, waiting for a check to clear or for the postman to bring you his Money order before you send the item out usually doubles the shipping time from purchase. im usually a buyer and i know i'd like my item asap and so i try to do the same when i sell.

~J