Receiving large sum of money

Discussion in 'General Business' started by Fewski, Jul 21, 2007.

  1. #1
    What is the best and safest way to receive a large sum of money from a website sale? I'm looking at getting around $2250, and want to be safe with the sale.

    What would you all recommend? PayPal? Check? Rather not go with Escrow unless buyer would like to though (I've never actually used them).
     
    Fewski, Jul 21, 2007 IP
  2. Triexa

    Triexa Active Member

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    #2
    I could be VERY wrong, but a check is good once it's been cleared, isn't it?

    I wouldn't take a payment that large through PayPal (Unless you don't use paypal, withdraw the money immediately, and remove the bank account... hehe)
     
    Triexa, Jul 21, 2007 IP
  3. Fewski

    Fewski Well-Known Member

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    #3
    Yes, once the check has been cleared there is no way the buyer can use a chargeback to scam me.

    But it takes nearly a week to clear a check, so I'm not sure how the buyer would feel about the length of time it takes.

    I definitely won't be using PayPal.
     
    Fewski, Jul 21, 2007 IP
  4. Triexa

    Triexa Active Member

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    #4
    Well seeing as how they are buying a site, I can't exactly see a situation where they need it ASAP.

    I'd also suggest a contract, to protect both of you, that once the check from X clears in Y's bank account, site Z will be transferred to X...
     
    Triexa, Jul 21, 2007 IP
  5. fryman

    fryman Kiss my rep

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    #5
    lmao
    $2250 is a large amount of money??

    Even paypal would be enough for that
     
    fryman, Jul 21, 2007 IP
  6. Triexa

    Triexa Active Member

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    #6
    I wouldn't feel confident accepting that through PayPal.
     
    Triexa, Jul 21, 2007 IP
  7. xaxecom

    xaxecom Well-Known Member

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    #7
    Go escrew.com
     
    xaxecom, Jul 21, 2007 IP
  8. fortify

    fortify Well-Known Member

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    #8
    RICH BOY. 2250 is alot
     
    fortify, Jul 21, 2007 IP
  9. Soccerplayur012

    Soccerplayur012 Peon

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    #9
    Yeah, $2250 is nothing to laugh at..
     
    Soccerplayur012, Jul 21, 2007 IP
  10. imteaz

    imteaz Notable Member

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    #10
    i have sold a website at $2200 here on DP. that guy paid me on Paypal.
    i didn't have any problem, it was 7 months ago.
     
    imteaz, Jul 21, 2007 IP
  11. Triexa

    Triexa Active Member

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    #11
    And then there are thousands of stories painting a different picture. You're the exception, not the rule.
     
    Triexa, Jul 21, 2007 IP
  12. imteaz

    imteaz Notable Member

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    #12
    Yeah i understand, but i didnt have to worry caz that guy was Reputable member here on DP. also very well known member.
     
    imteaz, Jul 21, 2007 IP
  13. Avery001

    Avery001 Banned

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    #13
    If i were you i would go with PayPal.
     
    Avery001, Jul 21, 2007 IP
  14. PHPGator

    PHPGator Banned

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    #14
    I hear escrow.com is the most secure method for large transactions over the internet.
     
    PHPGator, Jul 21, 2007 IP
  15. eddy2099

    eddy2099 Peon

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    #15
    Just to add, whatever you choose, make sure that the sale is well-documented and you have all the necessary invoices to support the sales. As long as it is above-board, there is no problem using Paypal.

    If Paypal finds the transaction suspicious, they will ask for invoices and proof of delivery. For that amount, I would send the site/service/product via registered post or Courier Service with 3rd party verifiable proof of delivery. Once you get that sent to them, you be cleared.

    If you are not doing anything subjective or against Paypal's Usage, you be fine.
     
    eddy2099, Jul 21, 2007 IP
  16. sufi

    sufi Well-Known Member

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    #16
    Using escrow is the safest in this case. It might cost you more fees than paypal but you should be assured that you won't be scammed. You can easily setup your bank details in your escrow account and they will send you a wire transfer which will only take 2-3 business days.
     
    sufi, Jul 21, 2007 IP
  17. MeetHere

    MeetHere Prominent Member

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    #17
    If the member seems reliable and reputed - Paypal is good.

    If you are worried about the buyers reputation - go with ESCROW.com
     
    MeetHere, Jul 21, 2007 IP
  18. syedwasi87

    syedwasi87 Active Member

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    #18
    paypal is good enough as others said...i too use it a lot..though make sure you dont got any pending disputes!
     
    syedwasi87, Jul 21, 2007 IP
  19. Awareness

    Awareness Banned

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    #19
    Go through wire transfer i few days ago sold a site and ask the customer to pay through wire transfer.

    WIthin 2 days time i got my money.
     
    Awareness, Jul 21, 2007 IP
  20. dlm

    dlm Peon

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    #20
    Go through Escrow.com or Moniker Escrow

    I've sold a site for $2000+ via Paypal and there were no problems at all, but to be safe you can certainly use an Escrow service.
     
    dlm, Jul 21, 2007 IP