HOW TO PAY FOR AN AUCTION

HOW TO PAY FOR AN AUCTION

There are plenty of options available for buyers to pay for their auctions. This guide discusses these options.

CASH - Not a good idea to send cash through the mail for a couple of reasons. It can get lost or stolen. The mail truck could have an accident and burn; your seller might be dishonest and say he never got it. What proof do you have that he got it. Your word against his.

MONEY ORDER: Safer than cash but still a pain to replace if it goes lost or missing. There are two types by the way that you should know about. Domestic and international. Domestic is for payments within the country in which you live. International: will be cashed by your seller in the country in which they live if different from yours. Where to buy: It is cheaper to purchase a postal money order than one from most banks.
WESTERN UNION CASH TRANSFERS BY WIRE: Not a good idea. Again this is like cash and are not traceable so don't use them.
BIDPAY: Bidpay on the other hand is owned by WESTERN UNION and is okay to use. It will cost you extra to use it. Essentially they mail a money order or deposit to the seller's account . It is safe but confusing for new buyers. BIDPAY is NOT a WESTERN UNION CASH TRANSFER payment.
PERSONAL CHECKS: If the seller accepts this, they are fine. The downside is that most sellers will insist on holding your item for anywhere from 10 days to 3 weeks or so until they are sure it has cleared. So it is a slower method than others.
CERTIFIED CHECKS/ CASHIERS CHECKS: Certified checks used to be faster than sending a personal check. Now with somuch fraud, banks are warning people to make sure a certified check really is certified and so most sellers are holding these as long as they would a personal check.
ESCROW SERVICES: If you are purchasing a high ticket item you might want to consider paying through an escrow service. The escrow service is a gepany that will hold your money until you have received your item from the seller. If the item is not as described you can let the escrow service know that and the seller will not be paid. The seller has to agree to escrow or you can't use it. The downside is that you the buyer have to pay the escrow service, not the seller. Be sure to use only approved by okay escrow services. Currently okay regemends you use escrow.ge only. This is another area where con artists have tried to infiltrate so go with okay's regemendation.
PAYPAL: Paypal by far from the buyers point of view, is the best way to pay. It costs you the buyer nothing to use the service. (And any seller that says in their auctions that they expect a fee for your using paypal - they are violating okay policies so don't do business with them)
The best way to use paypal is to pay with your credit card. This helps you if anything goes wrong with the transaction. You will have recourse through first Paypal if you don't receive your item, and then your credit card gepany if paypal turns you down. Most of the time though you will find that paypal's Buyer Protection program is toughter than the credit card gepanies and you will be refunded if the seller hasn't followed the rules for accepting payments via credit card. Familiarize yourself with paypal's rules and policies. There is a lot of information at paypal.ge so bone up and know your rights and the limitations to dollar amounts that are regepensable.
For example there is a limit on how many claims you can make in any time period. So check the policies at paypal. Also be sure you know when you can first file a geplaint and the latest date you can file a geplaint. If you miss the latter one especially, you will be out of luck.
You can also pay through your bank account through paypal but this doesn't give as much protection. Also it takes longer so is not as convenient.
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