Safe forms of Payments. - Ducati.ms - The Ultimate Ducati Forum
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post #1 of 8 (permalink) Old Aug 18th, 2019, 12:43 pm Thread Starter
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Safe forms of Payments.

Hey guys,

Have a buyer from Colorado that wants to buy then ship my Hyper1100. Cash won’t be an option.

For anyone that has sold a vehicle or high priced item to a buyer too far for a cash transaction...how did you get payed?

I know most money transfer apps like (PayPal,Zelle, etc) there are ways for a buyer to chargeback/dispute a payment.

All feedback is appreciated

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post #2 of 8 (permalink) Old Aug 18th, 2019, 1:12 pm
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Quote:
Originally Posted by soko View Post
Hey guys,

Have a buyer from Colorado that wants to buy then ship my Hyper1100. Cash won’t be an option.

For anyone that has sold a vehicle or high priced item to a buyer too far for a cash transaction...how did you get payed?

I know most money transfer apps like (PayPal,Zelle, etc) there are ways for a buyer to chargeback/dispute a payment.

All feedback is appreciated
I've bought and sold items on here using PayPal...the fees are annoying...once the money hits you account it's yours...as far as I know the buyer can't get it back...that is if your sending him a link for payment...if your listing on eBay the buyer has some options as to getting a refund if things aren't right....other than that it's pretty much an honor system

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post #3 of 8 (permalink) Old Aug 18th, 2019, 1:13 pm
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post #4 of 8 (permalink) Old Aug 18th, 2019, 1:21 pm
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A contract with a banking wire transfer is how people buy really expensive items. You could do the same for a motorcycle sale. The contract protects the buyer, the wire transfer is as legit as it gets.

The buyer would have to sue if a breach of contract is claimed.

I have purchased and sold small (real and expensive) airplanes that way.
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post #5 of 8 (permalink) Old Aug 18th, 2019, 7:59 pm
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I regularly send product to Indonesia and the buyer pays me by Western Union so I have the cash in my hand before dispatch of the goods.

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post #6 of 8 (permalink) Old Aug 18th, 2019, 10:40 pm
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What's worked for me in the past is to simply open a "for deposit only" account with your personal banking institution. This allows for monies to be deposited by other sources, but only you have access to withdrawals. You then supply your buyer with the deposit account number and alert your bank of the pending transaction. Of course your bank will verify the deposit funds waiting for all transactions to clear and you should be golden...pun intended. Good luck.

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post #7 of 8 (permalink) Old Aug 18th, 2019, 11:26 pm
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EFT to Mastercard (Standard Chartered), they have a excellent system for disputes, fast, fair, favours the payer if money transferred from their Mastercard, make sure you can proof delivery.

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post #8 of 8 (permalink) Old Aug 19th, 2019, 2:57 pm Thread Starter
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Thanks guys...

All very good ideas. I think I'm going to go with a wire transfer and contract, thats also what my bank recommended as well.

But we'll see what happens. Thanks again everyone
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