Quote:
Originally Posted by x2drich2000
Seems like with the rise in prices, the average invoice amount should also be increasing. So what payment method do you like to use for high dollar auction invoices over say $5k? Personal checks take forever and seem archaic in today's world. Paypal has the fees and usually limits. Zelle has worked great for me up to $2500, but again, has limits on the amount. Wire transfers have fees.
Which method do you prefer to use and why?
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This doesn't directly answer your question but is a solution for the very, very near future. Pay w/ cryptocurrency! I can send you $1,000, $5,000, $5,000,000, any amount, transaction free to your crypto wallet in a matter of 2-3 minutes.... every time!!
This should be, and I suspect will be, an option at the larger auction houses within a year, two tops! Almost instant settlement and no fees.
Last month I won a lot at an auction and just laughed when I was walking the envelop out to my mailbox to be sent across the country. It would be deposited into a bank 1000's of mile away and take another couple of days to settle and for someone to acknowledge payment was in their account and then go through the shiping process...... PayPal, Venmo, CC and the like eliminate that time but add unneeded fees.
Looking to the future, I am!