1. Home
  2. misc-audio
  3. 1174998165

How do you pay? Why?


I thought maybe some light should be shed on how we pay for our purchases here and why we do them the way we do.

Personally I’m not very enthusiastic about paying extra for convenience via Paypal. It’s really no quicker as the following transfer of funds to the bank being used takes 3-5 business days after the funds hit your Paypal account… and there's that sur charge as well.

Postal money orders are fine enough but depending on the price tag, several need be acquired very often.

Cashiers check (certified funds) is my pref. One stop shopping. Right at my banking facility and the funds are secured, if lost or stolen I have but to make a call to my bank. Ever try calling the Post office? You can't. Not directly anyhow

The problem I continue to see is the ‘time frames’ being reported by sellers about how long Postal money orders, and/or cashiers checks take to be posted. I keep hearing from one day to a week or more by some accounts for these MO’s and CC’s to be posted.

Maybe my bank is special, I don’t know, hence this thread. Always when I deposit MO’s or CC’s, the funds are posted to my account within 24hr, or the next business day… sometimes immediately, depending on the time of day they are presented…. Which is fine.

Personal checks do however take lots longer. I’ve been told as much as two to four weeks by my bank.

How does your financial institution handle receipt of certified monies like Postal M.O. & Cashiers checks?

Have you asked lately, or just go online later and take a peek?

These more secured funds should surely involve less time to post than personal checks... or why bother with them in the first place?
blindjim
tvad
9,467 posts
 
One has to provide documentation to any shipper verifying the value of lost or damaged merchandise. Sales receipts, catalog pages, etc.

Of course a shipper is not going to automatically pay the amount declared by the shipper. Think of a seller who declares the value of a $1.00 light bulb as $10,000. You wouldn't expect a shipper to pay the $10,000 claim would you?

Of course not. It's an obvious area for insurance fraud.

The declared value must be verifiable...and beyond that, the shipper usually requires that the declared value for used goods be in line with current market value. Don't overpay for used goods and expect to receive the full value of what you paid if the item is lost, stolen or damaged.
blindjim OP
2,837 posts
 
Tvad, good point... you have a knack for stating the obvious.

naturally no one in the habit of conducting business properly should think a mere statement will support value otherwise than can be established appropriately.

My hastely put point was about the 'insurance' monicker attached to it. Look at the ads for sale... shipping and insurance are the costs of the buyer'... or so it's said in as many words.

That word insurance, leads me to feel i have some protection that simply is not there in fact. i sought to put out thinly the diffs one to another for all to see... or think about and no longer cling to some 'pie in the sky' assurance which for all intents and purposes is going to be ultimately and likely determined by a transporter eventually, or a court ultimately.

Just pointing out some deep waters revolve about 'declared' value and 'insured' value. I see them as completely different.
tvad
9,467 posts
 
If a buyer is concerned about being covered in the event his/her item is lost, stolen or damaged, the he/she should collect proof of the item's value if a need should arise to provide a shipper evidence to support the item's value. In other words, be proactive and plan an aggressive defense. Don't assume once a fee has been paid for insurance that everything will work out if a problem arises. Don't rely on a seller to take care of business as thoroughly as you would yourself.

FWIW, I received a 1982 vintage turntable through the US Postal Service that arrived with broken hinges. I provided the USPS documentation of the E-Bay auction, Paypal invoice and payment records, the seller's shipping records and insurance receipt. The USPS agreed to pay the full purchase amount without hesitation.

Not all shipping insurance claims are nightmares. In fact, I have submitted three claims to the USPS and UPS and all have been paid in full after the appropriate documentation was provided.

Buyers are not automatically the recipients of the short straws in these transactions. At least this has been my experience.
swampwalker's avatar
swampwalker
5,132 posts
 
Jim- the declared value/insurance thing is a bit of a pitfall. The only way you are assured of getting re-imbursed is if its lost AND you can prove you actually shipped it. UPS and Fedex are much less prone to paying an insurance claim on shipping damage; if fact, they will do just about anything to avoid it. USPS is better, but it is pretty bureaucratic AND slow. But they are more likely to pay in the long run.
blindjim OP
2,837 posts
 

Thanks Tvad

Swampwalker

You know that is a fine point you made. when shippnig comes to mind USPS does not. I use them for much if not all of my little things. Never have I even thought to enlist them as carrier for something large.

I will next time for sure, slow is better than NO.

My greatest curiosity revolves around numbers. My own experience I think is a poor scale overall of those issues surrounding buying, selling, and shipping. using those experiences exclusively, ALL my less than good issues have been solely in the latter area. Shipping and/or receiving.

I've yet to have a payment issue, going or coming.

I have had 3 incidents during transportation or surrounding transportation. One overcharge, two breakages. One coming, one going.

The overcharge took about 4 months or so to remedy. Fed Ex did in fact reimburse me the overage. I in turn reimbursed the other party accordingly afterwards.

Given only my personal (not business) experience, I'm in the neighborhood of 7% for ALL shipping results in a problem. the numbers of course aren't truly representative, as the scale is so miniscule. I suppose also as ALL of my issues have been with Fed Ex, yet not all of the sending and getting were done with Fed Ex, thus that figure is likely to be greater. Gee, I never realized that until now. Hmmmm.

So.... just where does one call for USPS rates anyhow? Only online?
More to discover