Paypal vs Bank wire

[Joey_V]

Hey guys,

I recall a conversation with one of you guys before, I think it was GG.

Paypal vs bank wire for an audiogon transaction. Which is better for the buyer?

 

[TomDac]

Paypal has some protection built into it... The buyer can dispute the transaction and get fully refunded, as I found out when I sold my Pass X250. Not sure what protection a bank wire can provide..

 

[Joey_V]

Again, thanks to the Prez for some good info. He has PM'd me... another reason why this forum is very helpful.

 

[timm]

Uh oh. What is this all about???

 

[Joey_V]

Uh oh. What is this all about???

Nothin' Timbo...

 

[Gordon Gray]

Joey,

Agree with Tom if you are the buyer.

GG

 

[TomDac]

Joey's pulling the trigger on something BIG... Strads perhaps?? We'll find out soon enough.

 

[GaryG]

I have used both over the last 10 years. The wires have been bigger but only with reputable companies. If in doubt, use Paypal. The wire once cleared, like cash, is gone.

Gary

 

[Harlequin]

Paypal has some protection built into it... The buyer can dispute the transaction and get fully refunded, as I found out when I sold my Pass X250. Not sure what protection a bank wire can provide..

Would this not apply only were the item is paid for as a commercial transaction thereby attracting PayPal fees, which the seller invariably requires the buyer to cough up.
We're the seller to ask for a private PayPal transaction in order to avoid said fees it would attract the same jeopardy as an wire/BACS transfer.

 

[TomDac]

not sure about that, Harlequin..

 

[Hocky]

Would this not apply only were the item is paid for as a commercial transaction thereby attracting PayPal fees, which the seller invariably requires the buyer to cough up.
We're the seller to ask for a private PayPal transaction in order to avoid said fees it would attract the same jeopardy as an wire/BACS transfer.

Don't paypal as a gift - the fees are insignificant in the grand scheme of things.

 

[Joey_V]

We have decided... I will do bank wire, but payment will be split. Half now, half when I receive the item in good condition. I thought it was a fair way to do it and avoid the paypal fee. I take a little risk, but the guy seems legit and I'd like to think there are still good people in this world.

Of course if I get screwed, it will be a lesson learned for me.

Anyway... new gear is coming!!

 

[TomDac]

When you gonna tell us what you're getting?

 

[User211]

It's Bose. That's why he's being so tight lipped.

 

[Bernard]

It's Bose. That's why he's being so tight lipped.

He's buying Rich's system???

 

[Joey_V]

When you gonna tell us what you're getting?

I will post Pics!

 

[bonzo]

He's buying Rich's system???

We will never know, since Rich never posted pics. So maybe we will finally get to see Rich's system when Joey posts pics

 

[Joey_V]

OMG... lol on all the Rich comments... his system is like the lochness monster, sightings may have been reported but there has been no confirmation as of yet.

JK Rich!!