Paying for Second Hand Item

Headhuunter
Headhuunter Posts: 6,494
edited June 2013 in Commuting chat
I'm in the process of buying something from the classifieds here. Never done that and am trying to work out how to make the payment to someone I've never met. The options seem to be bank transfer over the net which is pretty straighforward or through PayPal gift.... Is there an advantage in paying through PayPal? My PayPal account is linked to my Amex card, does that mean if the item didn't turn up I would have some kind of recourse to get the money back? I assume that paying by bank transfer would basically be kissing the money goodbye and hoping the item arrived as advertised without any kind of insurance.... Anyone got any views?
Do not write below this line. Office use only.

Comments

  • Kieran_Burns
    Kieran_Burns Posts: 9,757
    NEVER

    ever

    EVER

    pay

    by Paypal gift

    just never. Okay? Never.

    You may as well wander outside and throw money in the vague direction of the person you are trying to pay for all the good it will do.

    Never.
    Chunky Cyclists need your love too! :-)
    2009 Specialized Tricross Sport
    2011 Trek Madone 4.5
    2012 Felt F65X
    Proud CX Pervert and quiet roadie. 12 mile commuter
  • spasypaddy
    spasypaddy Posts: 5,180
    ive bought and sold stuff on the classifieds. (please tell me im about to get a PM for my wheels...)

    bank transfer is preferable for both parties as there are no fees for either side but it does require a level of trust.

    Obviously cash/bank transfer at source is even better if you can meet up.
    BMC TM01 - FCN 0
    Look 695 (Geared) - FCN 1
    Bowman Palace:R - FCN 1
    Cannondale CAAD 9 - FCN 2
    Premier (CX) - FCN 6
    Premier (fixed/SS) - FCN3
  • davis
    davis Posts: 2,506
    Yep Bank Transfer would get my vote. Most people on this board are going to be honest, surely?
    Sometimes parts break. Sometimes you crash. Sometimes it’s your fault.
  • Headhuunter
    Headhuunter Posts: 6,494
    OK thanks... Why is PayPal Gift so unreliable? I would've thought it was more secure than a simple transfer....
    Do not write below this line. Office use only.
  • spasypaddy
    spasypaddy Posts: 5,180
    Headhuunter wrote:
    OK thanks... Why is PayPal Gift so unreliable? I would've thought it was more secure than a simple transfer....
    it is reliable but it offers you no more protection than a bank transfer and one of you has to pay the fees.
    BMC TM01 - FCN 0
    Look 695 (Geared) - FCN 1
    Bowman Palace:R - FCN 1
    Cannondale CAAD 9 - FCN 2
    Premier (CX) - FCN 6
    Premier (fixed/SS) - FCN3
  • greg66_tri_v2.0
    greg66_tri_v2.0 Posts: 7,172
    If you're v worried, ask for a photo of both the item being sold, the seller themselves and a legible utility bill or driver's licence. Then you (may*) have confirmation of the seller's name and address. If it all goes tits up, contact the Police and then escalate. Don't dick around.

    *it's still possible that a scammer will put up a dupe, but more likely I'd've thought that a scammer will walk away instead in search of an easier target.
    Swim. Bike. Run. Yeah. That's what I used to do.

    Bike 1
    Bike 2-A
  • tgotb
    tgotb Posts: 4,714
    Look at a seller's previous history on the forum too. If someone's been selling lots of similar-priced items with no complaints, it seems relatively unlikely that they're going to pick you as their first victim. If this is their first sale, you might want to be a bit more cautious, especially if they're new to the forum altogether.

    Having agreed a price, you can get cover via PayPal and pay the fees yourself. Seller gets the amount you agreed, but you have to pay a bit extra. One way or another, if you want insurance you have to pay. You might also decide you want to self-insure, in which case the insurance "fee" is the occasional dodgy deal.
    Pannier, 120rpm.
  • The Rookie
    The Rookie Posts: 27,812
    spasypaddy wrote:
    it is reliable but it offers you no more protection than a bank transfer and one of you has to pay the fees.
    No fees if you pay direct from your bank account, only on a CC.....more secure than a BT as the other party doesn't get your bank details (along with your address he's sending the stuff to!).

    Either Paypal with comeback or Paypal as 'family and friends' (not gift anymore!) for me.....depending on value and who I'm buying from (history on forum etc).
    Currently riding a Whyte T130C, X0 drivetrain, Magura Trail brakes converted to mixed wheel size (homebuilt wheels) with 140mm Fox 34 Rhythm and RP23 suspension. 12.2Kg.

Categories