Paying for stuff on ebay

Astroboy · Post by **Astroboy** » Fri Jun 17, 2005 12:50 pm

Hi All,

I've just bidded for a camera on ebay and was wondering what would be a safe way to pay for the item.

What would you recommend? Money order? What's safe way to do it?

Bidding for the first time.

Thanks in advance!

-AB

Tachyon · Post by **Tachyon** » Fri Jun 17, 2005 1:54 pm

I use Paypal, unless it's a large amount, then I buy a Demand Draft and send it to the Seller's home or office address.

Cheers!

Astroboy · Post by **Astroboy** » Fri Jun 17, 2005 1:57 pm

Tachyon wrote:I use Paypal, unless it's a large amount, then I buy a Demand Draft and send it to the Seller's home or office address.

Cheers!

How does demand draft work?

Issit send the draft over then I release payment here at my end after receiving the item?

Thanks!

-AB

Tachyon · Post by **Tachyon** » Fri Jun 17, 2005 2:45 pm

Nope. It's like a cheque - you buy one at the bank (or online if you have online banking), and then send it over and the receiver cashes it at the bank overseas). So it carries some risk. However, the name of the person is on the Demand Draft so nobody else can cash it.

You have to make sure you trust the seller first. Send it to his home or office address, and not to a P.O. Box.

Cheers!

Post by **Lee** » Fri Jun 17, 2005 2:50 pm

Astroboy wrote:
Tachyon wrote:I use Paypal, unless it's a large amount, then I buy a Demand Draft and send it to the Seller's home or office address.

Cheers!
How does demand draft work?

Issit send the draft over then I release payment here at my end after receiving the item?

Thanks!

-AB

What if you don't pay :o
Demand Draft/TT, all require you to pay upfront first. The seller upon receipt of the DD will bank into his account (like a cheque).
Unless it is LC then the bank will release the good to the seller upon your good verification.

Astroboy · Post by **Astroboy** » Fri Jun 17, 2005 3:10 pm

Lee wrote:
Astroboy wrote:
Tachyon wrote:I use Paypal, unless it's a large amount, then I buy a Demand Draft and send it to the Seller's home or office address.

Cheers!
How does demand draft work?

Issit send the draft over then I release payment here at my end after receiving the item?

Thanks!

-AB
What if you don't pay :o
Demand Draft/TT, all require you to pay upfront first. The seller upon receipt of the DD will bank into his account (like a cheque).
Unless it is LC then the bank will release the good to the seller upon your good verification.

What is a LC? Where can I get it? Trust is a risky business.. haiz ..

Thanks for the advices... keep them coming

-AB

JY · Post by JY » Fri Jun 17, 2005 5:38 pm

Hi,

I do not deal on ebay but have bought a lot of stuff on astromart and paid mostly with Paypal or telegraphic transfer.

Note that I have always paid upfront, trusting the other party (astromart has ratings which are quite useful).

Cheers

JY

MooEy · Post by **MooEy** » Fri Jun 17, 2005 11:44 pm

lc = letter of credit, u wun be needing that unless u are dealing with millions of dollars. i think most of the trading on ebay demands alot of trust on the other party.

~MooEy~