How do you pay? Why?

My bank now holds everything for 5 business days. They have had several issues with fraud.... MOs or CCs are no better than personal checks anymore.

I prefer paypal since there is no hold and you don't need a pile of MOs to send lots of money.

Arthur

Everyone should be aware of one issue with cashiers checks and non-USPS money orders. There have been instances of counterfeits used to pay for goods here on Audiogon. If it turns out that you as a seller get one, your bank will look to you to cover the balance, and expect you to go back to the buyer to recover your loss (cold day in ....). Your bank manager may make the funds available to you immediately at their discretion, they may or may not put a hold on other funds in your account, but ultimately, if the buyers bank or other issuing entity refuses to honor a money order or cashiers check, you will be on the hook for the $$. There is another also one other issue here. Unless I am mistaken, there are federal laws covering clearance times for personal checks and they max out in days, not weeks. So if the seller says 2 weeks to clear, either they are misinformed, their bank is hosing them to take advantage of the float, or they don't want to take the risk of being stuck for a $30 bank charge if the check does not clear (and that is probably a legitimate concern when dealing with a low feedback member).

AS far as paying the 3% vig to paypal, I hate to do it, and usually won't on major purchases. If the seller's price is fair, I will offer to pay full price and let them decide if THEY want the funds quickly enough as to cover the fee themselves.

One other point (I promise). There IS one advantage to paypal for a seller besides quick access to the funds; it cuts down on failed deals due to " (potential) buyer's remorse, where financial or other realities set in before they can get to the bank and p.o. I've had my share of "I changed my mind" emails after agreeing to a price and other terms. That is the one advantage of the Audiogon transactor.

I usually pay with a tellers check from my credit union, unless another form of payment is requested.

As for receiving funds, if it’s a USPS MO, I just go to the PO & cash it there. If cashing a bank draft, MO, personal check, etc, I go to that bank to cash it, but if no branches are in my area, I call the bank to make sure funds are available before I deposit in my account. I have had zero problems receiving payments.

I don’t like the idea of paypal, mostly because they are unregulated and can do what they want with your money.