Paypal vs. USPS money orders vs. whatever.....

[Thomas (WT-101)]

This I have learned through my experiences. I am not an endorser of Bank of America; just do all my banking there.

I have made purchases both through ads placed at QTH.COM and through eBay. If I am interested in an item, I immediately let the seller know that I pay with Bank of America money orders; period. If they take Paypal or USPS money orders only, I take my business elsewhere. On eBay, I email the seller, even if they state 'Paypal Only' and ask if they will accept a Bank of America money order. Two have accepted them; the others not.

I realize that we are in a credit card society, and for good reasons. I would use a credit card only in an emergency. Some merchants even ask for my S.S. number for verification on a personal check. This is NEVER a requirement and technically out-of-bounds. I immediately ask for the store manager. If they still demand my Social Security number just to cash a check, I give them a invisible middle-finger, leaving my items at the counter and walk out.
This is after presenting my photo ID (drivers license).

I have yet to experience a Bank of America money order refused; the exception being the above mentioned instances.
One recent buying experience from eBay proves a lot. A seller offered an item that I wanted to purchase. I informed the seller immediately that should I win the auctioned item, I would pay for the purchase with this form of payment.
The seller furnished his address without the street name. I sends the m.o. and a week and a half passed... the seller not receiving payment (and I not recieving the item). Before all this time elapsed, I stayed in touch with my bank branch which kept me informed through one phone call that the money order had not been cashed. After a week, I called and made the stop payment, which materialized within two hours. My account was credited for that amount within 24 hrs. I then purchased a 2nd money order and mailed that to the seller's complete address from his call sign. This was recieved and I in turn recieved my item.

Not to sound like a broken record; If the seller requires a USPS money order, I would become suspiciopus and take my business elsewhere. Some swear by Paypal, yet it seems that more and more are discovering the horrors of this system and it's many flaws. I refuse to become one of these.

Very satisfied with Bank of America,

Thomas (in Washington state)

PS: Did I mention that B of A's money orders are free of charge to it's customers?

[w2ass]

This I have learned through my experiences. I am not an endorser of Bank of America; just do all my banking there.

I have made purchases both through ads placed at QTH.COM and through eBay. If I am interested in an item, I immediately let the seller know that I pay with Bank of America money orders; period. If they take Paypal or USPS money orders only, I take my business elsewhere. On eBay, I email the seller, even if they state 'Paypal Only' and ask if they will accept a Bank of America money order. Two have accepted them; the others not.

I realize that we are in a credit card society, and for good reasons. I would use a credit card only in an emergency. Some merchants even ask for my S.S. number for verification on a personal check. This is NEVER a requirement and technically out-of-bounds. I immediately ask for the store manager. If they still demand my Social Security number just to cash a check, I give them a invisible middle-finger, leaving my items at the counter and walk out.
This is after presenting my photo ID (drivers license).

I have yet to experience a Bank of America money order refused; the exception being the above mentioned instances.
One recent buying experience from eBay proves a lot. A seller offered an item that I wanted to purchase. I informed the seller immediately that should I win the auctioned item, I would pay for the purchase with this form of payment.
The seller furnished his address without the street name. I sends the m.o. and a week and a half passed... the seller not receiving payment (and I not recieving the item). Before all this time elapsed, I stayed in touch with my bank branch which kept me informed through one phone call that the money order had not been cashed. After a week, I called and made the stop payment, which materialized within two hours. My account was credited for that amount within 24 hrs. I then purchased a 2nd money order and mailed that to the seller's complete address from his call sign. This was recieved and I in turn recieved my item.

Not to sound like a broken record; If the seller requires a USPS money order, I would become suspiciopus and take my business elsewhere. Some swear by Paypal, yet it seems that more and more are discovering the horrors of this system and it's many flaws. I refuse to become one of these.

Very satisfied with Bank of America,

Thomas (in Washington state)

PS: Did I mention that B of A's money orders are free of charge to it's customers?

i agree and have the same bank here in NC. I live in Winston Salem.
and my bank of america bank manager also is a ebay nut like my self, When i moved here opened my new account we started talking about ebay. and this is how my paypal account is set up. I have a checking account and debt card that i only use for ebay, since checking accounts are intrest free and i dont use checks for this account, it doesnt cost a dime, also i have my statements emailed. again free service and no cost. thier for the only money that goes in to this account is the money im spending to buy on ebay or for used EQ, also bank of america lets you transfer money between your accounts for free on line. so again no cost. so anytime i sell anythnig it goes to paypal then to one checking account then to another. i now this seems crazy, but if you want to make sure that paypal ebay or anybody else will have a hard time getting to money that is not even thier.. only deposit money in to that account when you buy, other wise 25 min is all you need to keep account open.. all this seems crazy for some of you . but people will do anythig to get hold of you money. and since in paypal term of service like a few people said if they need to refund money they have to ask you for the money instead of just taking it. but like i said paypal will send you email about this matter first and you have 10 days to respond to it.. you have to protect your money in any way you can in these hard times today. and i do. no one can just take money out.
just food for thought....i never thought of this second account .. this was my bank managers idea,, which was a great one....but im sure alot of banks have free online service by now!! check with your bank. and i know alot of hams out thier have more than one checking account too. if you have xyls' and you dont want them to know how much money you spen on your hobby !! thank god my xyl doesnt care about my hobby and could car less how much i spend on it.. boy did i luck out...

[n4avl]

Many people require USPS money orders because they are good as cash - any post office will cash them. Most banks will post as cash as well. That's why I accept only USPS money orders & I'm not a scammer.

73

[Thomas (WT-101)]

Many people require USPS money orders because they are good as cash - any post office will cash them. Most banks will post as cash as well. That's why I accept only USPS money orders & I'm not a scammer.

73

I agree with you in that USPS money orders are as good as cash, especially at post offices and at most banks. BUT... also do not forget that should a scammer try his game on you, you also would want to have the right to stop payment in one hell of a hurry as to not fall victim.
My question to you is... Have you ever tried to put a stop-payment on a USPS money order when you pick up the odor of feces in a deal? The scammer knows that these money orders are as good as cash too, and the buyer of these money orders will pay hell in trying to stop payment, and prevent a scam without getting kissed in return. Yes... I substituted a word and opted for 'scam' .

73s...

Thomas, in Washington state.

[K4ICL]

Trying to look at the issue, objectively, I have to ask:

Why would we have a business relationship with a person or firm when the relationship is so shakey that we fear losing our money by sending a USPS money order ("good as cash")?

If we need a back-out-of-the-deal-by-cancellation option, why do the deal with the person in the first place?

If we aren't able to trust the other party in a deal, wouldn't it be better to walk? Sometimes the deals we don't do are the best deals.

K4ICL

[Thomas (WT-101)]

Trying to look at the issue, objectively, I have to ask:

Why would we have a business relationship with a person or firm when the relationship is so shakey that we fear losing our money by sending a USPS money order ("good as cash")?

If we need a back-out-of-the-deal-by-cancellation option, why do the deal with the person in the first place?

If we aren't able to trust the other party in a deal, wouldn't it be better to walk? Sometimes the deals we don't do are the best deals.

K4ICL

In response to K41CL...

1. This is 2005, not the 1960's. You have to admit that people have changed. One CANNOT put the trust in people that we could in years gone by. It could be called greed, or any number of choice definitions. Yes... USPS money orders are as 'good as cash' in most instances. But the downside remains; It is next to impossible to 'stop payment' on this 'good as cash', should the business deal go sour. If I get a whiff of crap, I want the freedom to back off & not get burned. Scammers know of the difficulty of a stop payment on this medium of payment, and often use that in thier greed. 'Get the money & run'. As a buyer, I want the given right of the ability to cancel the 'deal', should I deem it necessary.

2. Same as above; If we always apply what you are saying in the 2nd paragraph, nothing would transpire. Both parties have to cover thier backsides. Being able to quickly stop payment should I sense getting the shaft, I am one step ahead of the shafter, and hopefully not becoming a shaftee in the process.

3. I concur with what you are saying. But here again, this is Y2K. People in general are trustworthy... but there will always be a certain percentage who will use and abuse the unwary. Why not minimize the chances, by using what is available to cover yourself? There are threads in this system that clearly proves certain hams are NOT trustworthy. But by far & large most are, and bend over backwards to help others.

73s..

Thomas.

[K4ICL]

1. This is 2005, not the 1960's. You have to admit that people have changed. One CANNOT put the trust in people that we could in years gone by.

Nope, people have not changed. But our exposure to the crooks and scammers has increased dramatically via the Internet, so we are more likely to encounter them.

We have to put our trust in everyone, everyday. Else we would not step on an airplane, travel in a car, etc. etc. When dealing with people in business matters, we can choose whom we wish to trust. This is a decision each of us has to make every day, else, we wouldn't have a place to buy groceries. So all I am saying is to choose wisely. If the choice is a wise choice, there is no need for all the so-called protections.

2. ...If we always apply what you are saying in the 2nd paragraph, nothing would transpire.

Sure it would, but only with the people we chose to trust. Else, we would be forced to deal with people we do not trust. This seems to be the option some feel is forced upon us. It is not. We do not NEED new toys and hobby stuff. So we do not NEED to do business with people we do not fully trust. It is the buyer's decision. I am saying to make this a good decision BEFORE the deal is executed.

3. ...People in general are trustworthy... but there will always be a certain percentage who will use and abuse the unwary.

Very true. Their success founded on deception and lies to fool the other party into taking an unwanted business risk. We are obliged to do our homework on EVERY seller we don't personally know, including calling the person, having a successful dialogue with the person, checking the person's reputation, etc. You know, the common sense stuff. Having done all of this, if there is still that nagging feeling you are not sure about the seller, take the walk.

There have always been cheats and thieves in the world and there always will be. The trick is to find the ones in sheep's clothing.

Cheers,

K4ICL

[ny4d]

Gentlemen,

I do a bit of buying and selling on both qth and eBay. Pretty much all ham gear.
And I'm not new at this.

There is no foolproof method of payment. But for casual sellers and buyers a USPS money order is the most secure form of payment. Due to the payment system bank money orders can be abused. Just to name one abuse that was done to me: stop payments can be timed to coincide with the seller being credited with the funds but before the issuing bank is debited. It is a well known scam.

And I can tell you that a bank money order is handled as if it were a check at my bank. Funds clearance depends on your bank policy on these items. And perhaps your relationship with the bank. So to me as a seller a bank m.o. is the same as getting a personal check as far as funds availability is concerned. And as a buyer I find it no less convenient to go to the post office to purchase a m.o. There can be no issue with the m.o. being held by the seller if it is a USPS m.o.

Paypal has its detractors but I can tell you as both a buyer and seller I prefer to use it. The few problems I've had have been handled. I've been scammed on Paypal too but only as a seller, by one of those parts replacer buyers ( a ham of course) who returned an item to me in not so original condition. He got his money back and I ended up eating the difference between a working and a parts radio. It wasn't up to me. Paypal made me do it.

My comment in general to all those who are set on one method of payment: if the seller or buyer won't comply with your method then move on. In the big scheme of things it is a small issue. If that item is just something you've got to have, then suck up and comply with the sellers wishes. No one is making you buy it.

I do it all the time.

73 de Lowell NY4D