Absolute Beginners Guide to eBay (4th Edition)

The more payment options you offer, the more potential bidders you'll attract. Still, some methods are better than others for different types of sellers; use Table 19.2 to determine which methods work best for you.

Table 19.2. Payment Methods Rated

Payment Method

Pros

Cons

Credit cards (via PayPal)

Fast payment;buyers like paying via credit card;most popular form of payment today

Fees involved (up to 2.9%of total price plus $0.30 per transaction)

Money order/cashier's check

Almost as good as cash

Hassle for buyers;have to wait for the payment to arrive via mail

Personal check

Convenient for buyers

Slow;have to wait for payment to arrive via mail;have to wait for check to clear

C.O.D

Cash payment

High noncompletion rate;lots of paperwork;high seller fees

Cash

Relatively fast payment, no hassles

Unattractive to buyers

The Absolute Minimum

Here are the key points to remember from this chapter:

  • The fastest way to get your money is via credit card (using PayPal).You'll pay for the privilege, howeverup to 2.9%of the total selling price, plus $0.30 per transaction.

  • The slowest way to get your money is via personal check.

  • If you do accept payment by personal check, remember to wait at least 10 business days for the check to clear before you ship the merchandise.

  • The best compromise between speed and hassle is payment via cashier's check or money order.(And there are no fees involved.)

Related

Категории