I’m selling and posting an item on Facebook Marketplace.
The buyer said they will transfer the money to me. What’s the safest way to receive the money (e.g., bank transfer, PayPal, etc.)
It’s a low value item <$50.
Thanks team
Facebook Marketplace - How to Receive Funds Safely When Posting an Item?
Worf on 26/04/2024 - 08:43
Last edited 26/04/2024 - 09:25 by 1 other user
Last edited 26/04/2024 - 09:25 by 1 other user
Comments
PayID/Osko, instant payment, fee-free
Just don’t believe a screenshot that they’ve sent it. Wait until you have the money
Yes, common sense. People get scammed due to the 24-hour hold for fiirst time payments over $500 in which case the seller should not hand over the goods until the funds have cleared across to their account. I just bought a Gumtree item this week for $4,400, paid cash, super-annoying for both buyer and seller.
How is paying cash super annoying for the buyer and seller?
@brendanm: I sold a motorcycle last year for $4500. Buyer gave me a ziplock bag containing the cash, in a tightly folded bundle of $50, $20, $10 and $5. It was such a pain to count because it was all tightly curved and wouldn't sit in piles. It took a stressful and embarrassingly long time to determine it was correct
@BigBirdy: Why be embarrassed and stressed? I would have just said to the buyer…
FFS dude. I hope you're free for the next 10 minutes while I count this mangled shit up.
@brendanm: For regular people: not that easy to withdraw that much cash, receiver has to count it out and then head to their bank to deposit. For this particular trade I had to drive 100km to view the item, haggled down the price by paying cash, seller wasn't into PayID so I didn't want to impose. For most of my private purchases, sellers gladly register their PayID on the day to receive instant payment.
@sumyungguy: You can transfer $4400 by osko? Otherwise, if the money isn't transfered, no way you are taking my item. Then you get to do the whole journey again when it clears. I keep cash at home so I don't have to go to the bank to get it out for transactions like this.
@brendanm: If the seller was a PayID guy, I would have offered a $10 transfer the day before then the balance at the time of collection. In Feb I competed a $3,600 transaction 25km from home. I inspected the item, seller gladly registered with PayID on the spot, I processed the PayID transfer and returned to collect 24-hours later when the funds were clear.
@brendanm: I chose to do two 50km round trips in preference to withdrawing $3,600 cash, which BTW is pretty much impossible to get in granny smiths; they're all circulating in the illicit substance trade. Also it's possible when you inspect an expensive item you may decide not to proceed, so then having queued half a morning at my bank to get the cash I'd have to spend another chunk of my life feeding it back into an ATM or queuing again for a teller.
@sumyungguy: I've got about $6k in hundreds right now. Wasn't hard to get. They are making cash harder to get, but don't give us instant transfers.
@brendanm: Apparently Osko limits depend on the bank. We transferred 17k from ubank to ANZ and it was instant.
How is paying cash super annoying for the buyer and seller?
My local bank branch requires an appointment be made to withdraw that much cash.
That depends on the bank. Commbank put the transfer on a 24 hour hold for new payees which can be reversed.
I think it's new payees and greater than $500. The 24-hour hold protects the payer in case they inadvertently pay the wrong PayID.
would it be advisable to be paid 1 cent at least 24hrs prior to decrease/eliminate likelihood of this occuring?
What do you usually use for payid.. Email address or mobile number? What's the safest
For one-off payees I'm likely to exchange phone numbers to arrange inspection/collection and to share my ETA. I also use PayID for friends & family for whom I have more mobile numbers than email addresses. PayID confirms the receivers identity when you select them from your contacts list.
Ah ok cool yeah I have been using mobile numbers mainly for payid.. If I get mobile spam so be it
As others have said, make sure it's in your bank account and ideally wait 1 or 2 days on top.
keep proof that item has been posted too
Bank cheque via registered post.
I prefer sending via carrier pigeon.
Solid choice.
Although found I had trouble meeting ebay delivery targets… had to spike their food.You need to use an Express pigeon.
I presume you mean cashier's cheque, which doesn't need to be delivered by registered post.
At the point of issue, its basically untraceable anyway. The money doesn't come out of your account.
Payid. It's safer for you than giving BSB/Account. It's free, so any mention of a fee/upgrade means they're a scammer. Wait until you see the $ in your account, don't rely on buyer's Photoshopped picture of them sending payment. I doubt a scammers going to make much effort to scam you out of $50
That's a worry. Wonder what the process will entail or if it will simply be a case of Believe the disputer?
PayID. It's usually instant and fee free. Just check your account to make sure its received.
When I post I take a picture of the package and the receipt. That reassures my buyers.
Cash or nothing.
Thanks guys. Done!
is this still available
Yes are you still interested… lols.
EBay’s so much better in that they just pay for it… however, ebay fees are so high these days!
You accept payid or paypal
Can my brother pick up
There isnt.
Avoid anyone asking for a direct deposit.Most secure and safe way of getting paid for posting items within Australia or International is Western Union, get the buyer to pay the fees as well and they do the payment on their side, go down the post office (Almost every Auspost is a Western Union partner) and collect the money in Cash.
Not sure why more people don't use this method if they are worried about PayID scams / PayPal Scams.
Only downsides are generally for the buyer as without legal action is almost impossible to get their money back.
What sort of fees are involved with that method?
Depends on country and amount, but usually around $5-$10
PayPal (you are both protected)
or PayID
Paypal has zero protection.
Um…yeah…okay,,,,
No option is 'reliable' if their is a middle man with 'discretion'.
Either you have the funds or you don't - those are the only reliable ways.
And you either have what you paid for or you don't. Use PayPal to post sold items around the country for peace of mind, works for me and my buyers.
Bank transfer. Wait 1 day and send.