Internet banking

[Frank Beck]

Mike's "Friends and Family" post reminded me...

I was selling a cheap car here recently and a member said "I'll take it but I bank online and it may be Wed (4-5 days) before I can wire the funds."

I'm an old fashioned "cash on the barrelhead" kind of guy and new fangled crap don't always sit well with me unless it has everyone's best interest in mind. I told said offerteur "Nothing personal but I've heard it all/seen it all so how about a Friends and Fam Paypal deposit of 1000 bucks and I'll wait for your wire."

Crickets.

I surmised that I offended the dude which is great for me because I enjoy nothing more than offending thin-skinned people. If he was concerned about a scam or had any doubts about my pedigree and cred he could have done a quick search here and seen that I have an unblemished record of selling things, buying things, and pissing people off.

The "So What" in all of this? If you want to buy something and ask the seller to wait for funds because of YOUR preferred method of banking put some skin in the game up front.

[eaton]

I agree with you. A nonrefundable deposit makes sense. But I don't keep Porsche kind of money in a standard bank account. It would take me four or five days to wire the remainder of the money.

In regards to the friends and family issue, I don't buy parts from anyone who isn't well know on this forum. And since most of them have given me help or advice on my Porsche journey, I consider them friends. When I'm selling, I ask for Paypal fees. If buyer doesn't want to pay fees, friends and family is an option.

[Haasman]

Bank checks.

They take 4 days +/- to go through. Sellers like 'em because the funds are drawn at the time of issuance and are often a good check. "Often", but not always of course. The check can be cancelled.

I dont think the buyer was telling you that becasue of you. He was letting you know what kind of check and when.

My $0.02

[RSTarga]

Frank,
If it was an international transaction, it is usual to take 4-5 days for a fund transfer to go through.

[jaudette3]

Lately I've been asking buyers to use the family and friends option at PayPal to save the fees and everyone has been kind enough to do so. It really helps to eliminate those fees as my little enterprise is not high margin.

Cheers,
John

[72targa]

F & F is great for real friends and family. The buyer can disappear as Frank found with no recourse for the seller. Beware.

[Frank Beck]

David,
I understand the delay for an international wire but guess what? The percentage of deadbeat Europeans I've dealt with over the last 30 years is... ZERO.
I wish I could say the same about Yanks.

I have yet to do biz with a European or Canadian who wasn't a gentleman.


oh...


wait...

[Frank Beck]

Save maybe this cat:





I miss he and his mum



I really need to blow this up and put it on my office wall.

[jaudette3]

F & F is great for real friends and family. The buyer can disappear as Frank found with no recourse for the seller. Beware.

Peter....

Isn't it just the opposite? With a regular PP payment the buyer has recourse if he's unhappy and can make a claim. With family & friends the buyer has no recourse. So the one who has the potential to scam with f&f is the seller. If he doesn't ship the product the buyer has no recourse.

John

P.S. I agree with Frank's comments about dealing with Europeans and Canadians. I do a lot of international business and I've always found them to be perfect to deal with. Although I can't say I've had any real problems with Americans either. If you listen to the media people are a bunch of crooks and worse. I find just the opposite is true in real life.

[72targa]

You are correct...mixed it up. Bottom line, beware of F & F...