Safe payment when selling $20,000.00 card.?
 

What is a safe payment when selling a $20,000.00 card? Not selling in auction or ebay. Private Sale. Thanks joe.

Personal check, wire transfer, PayPal, Venmo, etc.

if it's a through the mail transaction:

safe for the seller? cash, wire transfer, cashier's check

for the buyer? PP G&S, credit card

Thanks. Joe

Personal check and wait a week for it to clear. Why let Venmo or something else take small bite out of it.

I'm thinking it's safe to say the buyer isn't someone with whom OP has an established hobby relationship. As a seller, for an amount this large, I would feel more comfortable with a cashier's check over a personal check, but that's just me. If I knew and trusted the other party, a personal check would always be fine. Of course, the buyer may very well have other ideas.

I have used zelle to pay for a large transaction of 5,000.00. It was with someone I know well. Shout out to Leon! Zelle usually has limits per day but there are no fees. A little riskier for the buyer then the seller as the money cannot be retrieved. Like paypal friends and family which also does not help if you claim you bought goods and didnt pay the 3.5% . If you are a buyer and dont know the person well any form of payment with no fees like a wire or check is similar to zelle or paypal f and f . The seller gets the money and you have no card. I buy expensive items from auction houses or people I know well only

I recently sold a pretty expensive card (well over $20k) and the buyer and I did not know each other so we used REA as a middleman. I sent the card to REA and once he got confirmation that REA had the card, he paid with a cashier’s check but a personal check would have been just as good.

This is another one of the many many things that sets REA apart from other auction houses - the lost art of customer service.

When reading the title of this thread, is anyone else involuntarily hearing the rousing chorus from the classic 'Sweet Charity'* song in their head???? :D:eek::D

"Hey, big spender!!!!!"





*Didn't actually know it was from that show until I just looked it up.

Bank wire. Don't F around.

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Many years ago I sold an item for about $10K and used an escrow service. I think it cost around $150 at the time. Agent (small Law firm) called when money had cleared and I shipped to him overnight, signature required. Package was opened with the buyer in office, then money was released and letter confirming transaction was issued. No claims that it never arrived, or fake money order, etc. I would imagine that it would cost more than that now, but it was seamless and reassuring for both parties.

$100 bills. Newer style with strips only. Check all 200 of them when you count it.

Interesting responses. As a seller, i always did pp f/f until recently i started to do Zelle thru my bank on a few deals.
I get that the buyer wants protection, so good to learn about folks here doing it by personal checks and wire transfers, as i have recently offered some high-end cards.
I am reluctant to sell on Ebay, as everyone is aware of how crap-shoot it is and their Auth Guarantee.
And as far as Auction houses go..its great, but your giving money away to them to sell your card, when you can do it yourself with a great bunch here.

btw- ^$1 singles counts too, dont mind the smells on it, but no red stains please.:D Some people work harder than an ugly stripper.

While I am not sure of the current costs, if we're getting to the point where the fees get steep, then one of the two parties might as well just hop on a plane and the transaction can be made in person with a nice stack of cash (provided it's a domestic flight for the sake of the airfare cost). Of course, not everyone has the time...

Interesting idea - I had never thought of using an escrow service. I see escrow.com performs a similar service (not an endorsement and I have never used them before).

When reading this post, my mind instantly went to the movie European Vacation.

Cash in person, and an off-duty police officer.

That’s where my head is at.

If I’m buying a 20K card, it seems reasonable to hop on a flight and not worry about shipping issues either.

Plus you’ll have some fun memories that way! :)

It depends on your perspective. For some people, $20,000 is a hell of a lot of money. For others, $20,000 is pocket change.

One of the problems doing that is if you are the one jumping on the plane and the buyer flakes you are still out transportation, time, and possibly hotel. In this case it would definitely better if the buyer is the travelling party. :D

certified check, wire transfer, zelle / pp f & f week but needs to be spread out due time + amount limits. i sit on personal checks for 10 biz days.

IF it's a transaction that is FAIRLY local, I have met the Buyer INSIDE a Bank to complete the deal...

Good Luck!

Nice perk. Do they charge for this service?

^^This^^ and to make it more fun sent in a USPS small flat rate box with zero insurance. They make it every time. It is the packages with a lot of insurance that disappear most often. :)

I have sent them registered mail but sometimes walking it across country would be faster.

Actually the real problem is having your stack of
cash confiscated at the airport and basically never getting it back.
Happens far more often than you think.
Do a little research on it.

We were not charged anything but I do consign frequently with REA

what did they charge for that service and whom paid the fee?

.

Nice head up this is my first hearing about the escrow...

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Perhaps you and your old cousin can use an escrow service for your next sale.

re: airports and carrying cash. I think you only have to declare if you’re traveling internationally. I don’t remember ever getting the declaration cards for domestic flights.

Yes. Also, insofar as travel between Canada and the US is concerned, you don't have to even formally declare anything under $10K in cash when crossing the border. Provided it is properly declared, you're welcome to carry as much as you'd like without any fees or taxation applied. You just obviously need to have a valid reason to be doing so.

For Americans coming into Canada, just remember that it has to be under $10K Canadian dollars or the US$ equivalent of that amount, so make sure you have your conversions properly calculated. It can be anything under $10K in American funds when entering the US, etc.

EBAY SELLER FEES
I recently sold a 22k card on Ebay. I always knew about the 13.25% fee.
Well, i just learned that the 13.25% fee is capped at 7,500. And the remaining balance is at 2.35% plus add the .40 fee
In the end, fee cost was 1,334.90
I still much radther sell here on the BST, but sometimes you gotta say wtf.

I've flown domestic at least a dozen times over the years carrying $10k+ and never had anyone even blink an eye at the airport.

Domestic they don't ask. Some of these mtg dealers have over 100k cash and nobody blinks

This is accurate. And if your money is seized, the burden of proof is on you to get it back in a litigation.

Or if you are banking at a nationwide institution you withdraw/deposit before getting on a plane.

Pennies--and be sure to count them all

what did they charge for this service?

Chris - You forgot the word "just", so the correct wording should be "Sometimes you just gotta say, WTF" :D

Does the eBay authentication process help insure both buyer and seller have the transaction go smoothly - payment sent & received ? The sale occurs then the seller ships the card to the neutral third party, eBay Authentication, then eBay ships the card to the buyer.

I have not yet sold any spendy cards, but wonder if going thru eBay authentication guarantees card gets paid for before eBay sends card to buyer.

I wouldn't think the seller would ship the card to the authenticator before payment was made.

The first few times eBay held payment until it passed the authenticator. Now I get payment like normal.

I just used escrow.com. It protects both the buyer and seller.
There is a fee though.

The buyer has to pay before eBay will tell the seller to ship.

Depending on some exciting and impenetrable algorithm, sometimes eBay waits to pay the seller. Sometimes they just release the cash right away.

But the authentication process certainly helps the seller to avoid situations where the buyer claims that they never got the goods. Or claims that it wasn't what they ordered. Or some similar nonsense to attempt to steal from the seller.

Yeah you making sense that's what cost some issues most if you are a seller on ebay you will understand what he is trying to say....

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Why are all the scammers the most eloquent (temporary) members of Net54, always expressing their ideas in the most beautifully expressive English??

+1 Jolly Elm

They are progressing to posting nonchalantly LOL...

as to the topic of a safe 20k payment...check, money order, Zelle, EFT....lots of safe options.

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Cash
 

200 hundred dollar bills, if the buyer is serious for the item, he will pay cash--