Classified question- Check versus PayPal

[Sandy]

I was interested in purchasing an item in the classified section. Someone had already told the seller that he or she had sent a PM on the item. I sent a PM to the seller and told the seller that if the transaction was not completed, I would like to purchase the item. The seller had stated that he or she wanted to be paid via PayPal.

I informed the seller that I do not use PayPal and that I would send a check and after the check cleared then the seller could send the item. The seller said that unfortunately, he or she does not accept checks.

I wonder why someone would not accept a check for an item if it is understood that the item did not have to be shipped until the check cleared. Is the reason because if the check turns out not to be good, then the seller has lost time and even a possible sale because of the delay caused by a bad check? Do some people simply not use checks at all and do the entirety of their banking electronically? Perhaps PayPal gives a detailed accounting of payments which makes it appealing? Easier to collect funds in a sales transaction gone bad? But, isn't there a PayPal expense to the seller?

Clearly, a seller can set whatever payment terms he or she desires. The seller was very courteous to tell me that a check would not suffice.

My question, please- Why not take a personal check and insist on PayPal?


Thanks for any responses.


Bounced Too Many Sandy

[Louis]

My question, please- Why not take a personal check and insist on PayPal?

1) The check takes time. (several days)

2) It's potentially a hassle to deposit.

[benitosan1972]

It's the E-Age,
people don't want checks, mail, or even phone calls.
Paypal, e-mail, and text messages. Takes the humanity out of life?
Hell, some people don't even want to meet real people.
They'd rather date online, and that's weird.

[Bruce K]

I don't do Paypal either.

I've missed a couple of things and sales as a result but all transactions that have been done by check have worked out just fine.

BK

[gearguywb]

I dislike checks anymore. My local bank now closes at 4PM except Friday where it is 6PM. I work 15 miles from home and generally do not leave the office until after 5. It is a hassle.

What about using the e-check paypal option?

[Neves]

In my last batch of stuff for sale I've taken 2 checks. I was a little surprised when the first guy ask me, but agreed. It was a small item and if it didn't work out I wouldn't have lost sleep over it. I personally love the convenience of paypal, but will take a check.

[alancw3]

paypal is an easier/cleaner transaction. that being said i would think it also has to do with the dollar value of the item. if relatively small i probably would not want to hassle of a check. if i were selling a complete bike or frameset i think i would take a check. paypal fees are about 3% and that adds up on a three thousand dollar bike.

another consideration is where the transaction is taking place. the serotta forum is certainly different than selling on ebay. heck i have actually sold things over the years on the forum to guys i new, accepted a check and shipped prior to even receiving the check.

[Hawker]

If it's a regular here who has been around a while, I'll take a check and have several times. I figure if the check bounces then the recourse I have is to post the info here and then the person is known forever more as a scofflaw.

[mike p]

I'd take a ck no problem. It is a bit of a hassle, but no big deal just an inconvenience. My question for you is...why not set up a pp account? I'm as much of a caveman as anyone and I did it! A bit of a hassle to setup but very easy to buy and sell afterwards.

Mike

[zmudshark]

What about a USPS money order? Safer than a check.

[eddief]

to which the seller runs his life via the net vs in a more traditional banking way. checks take longer, checks bounce, checks need to be deposited via an extra step or two.

[Ken Robb]

What about a USPS money order? Safer than a check.
The buyer would have to stand in line at the PO to get the MO and the seller would have to take it to the bank to cash it. I stopped using PP after my account was hacked/drained. It wasn't much $$ because I buy a lot more than I sell so it wasn't worth the hassle of doing all the work to attempt to recover through PP.
I have done quite a few transaction in the forum giving/getting checks.

[AngryScientist]

no problem giving checks, and no problem taking them from someone who i have a reasonable degree of trust for.

[Jeff N.]

I was interested in purchasing an item in the classified section. Someone had already told the seller that he or she had sent a PM on the item. I sent a PM to the seller and told the seller that if the transaction was not completed, I would like to purchase the item. The seller had stated that he or she wanted to be paid via PayPal.

I informed the seller that I do not use PayPal and that I would send a check and after the check cleared then the seller could send the item. The seller said that unfortunately, he or she does not accept checks.

I wonder why someone would not accept a check for an item if it is understood that the item did not have to be shipped until the check cleared. Is the reason because if the check turns out not to be good, then the seller has lost time and even a possible sale because of the delay caused by a bad check? Do some people simply not use checks at all and do the entirety of their banking electronically? Perhaps PayPal gives a detailed accounting of payments which makes it appealing? Easier to collect funds in a sales transaction gone bad? But, isn't there a PayPal expense to the seller?

Clearly, a seller can set whatever payment terms he or she desires. The seller was very courteous to tell me that a check would not suffice.

My question, please- Why not take a personal check and insist on PayPal?


Thanks for any responses.


Bounced Too Many Sandy
I'm thinking it's because they're in trouble at their bank where they'd cash your check. (late payments? Overdrawn? Cancelled account?) Jeff N.

[Jeff N.]

I dislike checks anymore. My local bank now closes at 4PM except Friday where it is 6PM. I work 15 miles from home and generally do not leave the office until after 5. It is a hassle.

What about using the e-check paypal option?
NO ATM's where you're at? Jeff N.

[happycampyer]

I generally wouldn't accept a check from someone I don't know. That said, I have accepted checks from well-established forumites here and over there, and have often shipped the item before the check arrived.

[saab2000]

I would take a check from Mr. Sandy any day. But there is a slight added hassle factor as I don't live near my bank and hardly ever go there. I do practically everything online nowadays.

But to sell to a good guy I'd take one.

[christian]

Only inconvenience in taking a check is that you don't have that clear indication - first person to say I'll take it AND paypal gets it - which is sometimes nice if you're trying to move something quickly.

But generally, and especially for long time forum participants, I prefer a check or MO to paypal. I have a Chase branch in the basement of my office, so no issue depositing a check.

Christian

[tiretrax]

I prefer a check or MO - Paypal is now requiring me to register my accounts with them because I've bumped up to their $10k limit w/o "verification". They've already got my credit card info, and since I haven't accepted a payment because I don't want to pay the 3% fee, I don't see any reason for them to have that information. They are not a bank, nor are they acting as one. They are only a transfer agent. USPS and Western Union don't require that. Additionally, I dislike the Ebay/Paypal hegemony - after 12/31, all payments on ebay will have to be through Paypal.

Getting a USPS money order is not difficult. In addition to the Post Office, 7-11 and a lot of supermarkets sell them.

Banking is easy, too. ATM's never close.

[rugbysecondrow]

As an aside, PayPal mobile has a function where you can take a digital photo of the check (front and back), upload it via a "Deposit" function and the check clears in about 5 days. Wicked convenient and I can't wait for this or similar technology to spread. I actually get some payment checks now monthly so using that feature is helpful.

[Ralph]

Maybe the sellor doesn't deal with a local bank. I'm considering dealing only with Internet bank. Currently pay most bills with "bill pay" or debit. Could pay all bills electronically. Currently move funds between bank and investment accounts electronically. Can get cash free from ATM's, etc. Most of us are rapidly not needing a brick and motor bank.

I use PayPal exclusively for doing any buying and selling on here and E bay. Paypal is just a bank. Keep their site "open" only briefest of time. No problems yet. Also think they have an interesting business plan, probably where most regular banks are heading. Can't wait for PayPal to get some real competition. They need it. They are arrogant and a tad difficult to deal with IMHO. Their fees too much....competition should fix that. Banks of the future probably not much like my local Wells Fargo.

[martinrjensen]

They wouldn't do it because it's just too much hassle now a days.
I write about 1 check a year, I never phisically go to the bank anymore.
If you only write checks for items online you will significantly lesson your chances of completing any transaction, This is just the way it is now.

[wc1934]

I don't have paypal either and I am as puzzled as you - Is paypal a better, more secure option for buyer? I have sent checks to forum members, as means of payment only to be told that the check never arrived (lost in the mail?) or worse, cashed and the seller never gets around to shipping.
I thought that once a check is cashed and cleared you are all set - is that not true?

[steampunk]

i minimize PP use when i can, but unfortunately the eBay-PayPal monopoly is a bit of a necessary evil.

you'ver heard the horror stories...
http://www.paypalsucks.com/
http://www.screw-paypal.com/

[Jeff N.]

After listing fees, final value fees, PP fees and shipping, you're lucky to break even! I MUCH prefer selling anything cycling here. Jeff N.

[gomango]

I will use Paypal as a last resort if I really, really want the item.

I have used checks though for purchases for the last two years.

Missed a couple of items, but no biggy.

Granted, most of my transactions are with folks I have a relationship with online.

I bought a very nice Colnago locally this past summer, and the seller was happy to take a check. I offered Paypal, and he said a check was cool.

[Ralph]

I Don't understand the security concern with PayPal. Is there more security risk than havng a physical check with your name, address, tel number, account and routing number floating around? With that data, your SS number may be at risk.

I haven't given PP any more info about me than I have given my local bank, Internet bank, my brokerage accounts, etc....and I deal with them all electronically.

That said....can't wait for PP to get some real competition.

[djg]

Sandy, in the end there's no telling. I'd consider your check good once you told me it was on its way, and it should be good more generally once it has cleared. Still, folks like to get paid in ways that are convenient to them, and they might be more or less flexible about that depending on almost anything -- who they are, what mood they're in, how well they know you . . . whatever. But this is a situation where it's almost certainly true that it's them, not you.

Most of us have checking accounts, but not all of us do. I can drive by any number of automated tellers and deposit a check without even filling out a deposit slip, but not everybody has that option. For some, there's a wait in line, or a fee, or what have you.

You want complicated? Some folks don't want a paper trail, and legal issues have nothing to do with it. Last week I dropped more than 3k on parts and wheels at the LBS and shortly I'll order a frame -- it's all to replace my cross bike, which was stolen last month. All on the CC and all documented and my wife knows all the details. Here's the thing: I've bought lots of stuff over the years under a sort of bike-parts-don't-ask-don't-tell policy with the wife. She knows that I'm never going to put the kids' college funds or the mortgage at risk buying bike parts. But often enough, she doesn't really want to know that I might spend 80 bucks on a tire or a couple hundred on pedals, or more on a wheelset than she'd prefer to spend on a bike. So some stuff is a cash business . . . and money orders, paypal,etc. I'm not running a business and I'm not hiding income from the IRS or anybody else -- I don't have positive bike parts income. I'm just keeping transactions separate from the joint checking account I share with my wife.

See . . . could be anything.

[Trirunt]

My understanding is that Paypal offers some degree of recourse to both the buyer and the seller if something goes awry.