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Hot Topic (More than 10 Replies) Online selling and safe money transfer (Read 1085 times)
mtbrdoc
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Online selling and safe money transfer
02/21/16 at 10:27pm
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Hey y'all,
I'm selling a suspension fork on Pinkbike and at the moment it looks like I'll be able to sell to a gentleman in California, but I'm a little nervous about how he will pay me. I've heard paypal is good, but it seems there should be a better way that insures my buyer will get the fork and I will get my money. 
To some of y'all that have experience with this, what do you recommend? 

Thanks in advance, 
Caleb
  
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FredRubble
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Re: Online selling and safe money transfer
Reply #1 - 02/21/16 at 11:04pm
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PayPal is good
  
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BigBikeMike
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Re: Online selling and safe money transfer
Reply #2 - 02/21/16 at 11:27pm
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I bought a bike frame from a guy in California a few years back and I paid through     PayPal with no problems.
  
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nicedart
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Re: Online selling and safe money transfer
Reply #3 - 02/22/16 at 12:10am
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I've used paypal for over 10 years now. Very good service.
  
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BudLeach
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Re: Online selling and safe money transfer
Reply #4 - 02/22/16 at 12:42am
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I've bought a bike from Canada before (on Pinkbike). I have also sold parts and bikes online and locally. I use Paypal often. Definitely the best way to transfer money. If you run the transaction as a payment for goods then Paypal takes a small percentage, but along with that Paypal offers buyer protection. So if the goods never arrive (or do not arrive as described), the buyer can file a claim and get reimbursed through Paypal. It takes a lot of risk out of the transaction for the buyer. There is no real risk as a seller. 

If the transaction happens in person and the buyer gets the chance to closely inspect the goods and feels comfortable that they know what they are getting, its no problem to "gift" the money so paypal wont take a cut.
  
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DavidM
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Re: Online selling and safe money transfer
Reply #5 - 02/22/16 at 11:19am
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I also used Paypal when i bought my Titus from a guy in Fl.  Smooth transaction...would use it again.
  
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QueenCity Bicycles
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Re: Online selling and safe money transfer
Reply #6 - 02/22/16 at 1:48pm
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make sure you use the goods and services and not friends or family option if you want coverage. Goods and services options does cost recipient though.
  
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mtbrdoc
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Re: Online selling and safe money transfer
Reply #7 - 02/22/16 at 1:52pm
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Thanks guys, I really appreciate it! This may be a dumb question but I assume I don't ship the fork until the money is transferred to my account?
  
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Yellowduck
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Re: Online selling and safe money transfer
Reply #8 - 02/22/16 at 3:50pm
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Do not let it leave your possession until the funds have transferred.
  
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Specialist
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Re: Online selling and safe money transfer
Reply #9 - 02/22/16 at 4:19pm
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escrow.com does a better job of protecting the seller (PayPal's policies favor the buyer - he might have your fork but withhold payment through a dispute). Escrow.com is a bit cheaper too. 

Make sure he has to sign on delìvery.
  
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Bikin Dad
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Re: Online selling and safe money transfer
Reply #10 - 02/22/16 at 8:16pm
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Paypal sends a "Notice to distribute/transfer product" type of email based off your email account, once they have the money in their possesion. I've utilized Paypal often myself lately, another note, ensure your shipping cost don't eat up monies expected. I learned that the hard way in a few frame sells!

Good luck....
  
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mtbrdoc
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Re: Online selling and safe money transfer
Reply #11 - 02/23/16 at 11:22pm
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Thanks guys! I appreciate the advice. I think I feel pretty safe with Paypal. 

Thanks again and speedy riding. 
Caleb
  
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