Need some help with Payment/Postage overseas

[Monnyjay]

Hi guys, just wondering if some fellow aussies could help me out here? I am looking at an item on Ebay and very close to purchasing but, I am not sure what is the most cost effective option.

We have both agreed Paypal is an expensive but safe way to transact. The vendor tells me the cost of Ebay's fees and Paypal would take a
big chunk of her selling price.

I checked with my bank to do a wire transfer, fee was quite reasonable, although as with banks they probably sting you on you exchange
rates.

Any information would be greatly appreciated!

 

[arkieb1]

Paypal is the safest way to purchase something on ebay unless its a large vendor or someone you trust. The reason for this is because Paypal actually gives insurance on transactions so if someone rips you off you can complain to them and they refund your money. Having said that the fees can be as high as 5% here in Australia for the vendor not for the purchaser.

If you do a wire transfer depending upon the bank the fees are usually $20 to $35.00 depending upon which bank you bank with. The Aussie dollar went down today so the rate you will be given by the banks is usually around the same to a bit less US at our current rate (they always give a much worse rate that the actual rate) so for $2000.00 US you will pay around $2050.00 + the transaction fee so around $2080.00 to $2120.00 off the top of my head, if the exchange rate goes up or falls tomorrow (Friday) this will change. I do a fair few of both. Some banks will give you insurance on wire transfers ie if you never receive the goods they can in theory reverse the transaction. Other banks will not and you can possibly lose your money.

Some ebay vendors will offer discounts for direct wire transfers thus bypassing both Ebay and Paypal fees (ebay takes fees on sales too). Be aware some vendors intentionally lure customers into paying via banks and they then never send the item.

It really depends on who you are dealing with on Ebay as to which method is best.

 

[CharmyPoo]

I like to stick with Paypal as it offers additional protection that your bank will not. I don't know if this is a solution for you but I have a USD$ credit card (versus CDN$) that I use on paypal. This way I am not charged the crazy paypal exchange rate.

In terms of ebay and paypal fees, this is something the seller pays and unless they are passing on a portion of the savings to you I would not go outside of ebay and paypal. On our end, it is only the poor paypal exchange rate that we have to deal with.

 

[Monnyjay]

Thank's for that ArkieB1, I need to weigh it all up and decide which is the best way to go. I like the idea of Paypal for the security.
My bank charge $22 for a wire transaction, obviously the exchange rate would not be that great and our $AUD has dropped in the last
day or two.

The ebay Vendor is in New York and has been in business for many many years. I checked their feedback and its all good, only one negative that was resolved.

Will keep you posted of the outcome

 

[Monnyjay]

Hi Charmypoo,

I know Paypal is the safest option and probably the best, it just the fees are so excessive. We use Paypal every so often, it is linked with
a credit card. I don't know how much the charges are, if any, paying this way.

The Vendor has a few different payment options, I will most probably do Paypal in the end, for piece of mind considering it
quite a substantial amount of money I am parting with. Unfortunately, the Vendor has a large amount to pay - Ebay fees
and Paypal, so I suppose in all fairness there has to be a compromise

 

[mcosme]

I use paypal linked with my 28 degrees mastercard (no transaction or currency conversion fees) or citibank plus debit card
This works out very well for us as buyers

 

[CharmyPoo]

I see the paypal/ebay vendor fees as a cost of doing business. They know what they are getting into listing on ebay and accepting paypal. If they want different options or to complete a transaction outside of ebay, I always believe it is fair to have the savings shared with the consumer given that we are taking on additional risk. I must admit ... I have completed a number of transactions outside of ebay and the seller always split the savings with me. WIN/WIN for both.

 

[Monnyjay]

Charmypoo, this Vendor has offered payment via wire and reduced the price quite substantially. I am happy to do it that way but my bank does not offer any insurance, so this the problem.

The lovely girl working at my bank told me she would use Paypal - she always does as no problems have ever arisen. She advised me against a bank wire because it would cost me more than the Paypal option. (Conversion rates)

I am taking a risk. My concern is not with the Vendor, they are trustworthy - it's getting lost in transit. It will be posted in the safest manner I am told.

I have purchased diamond rings in the past and had no problems at all - (from interstate not overseas)

Pay the higher asking price or go through Paypal Does anyone know how I can work out what the Vendor will be charged - I can't seem to work it out on their website. For transactions it is normally 2.9% + 30c . - although being overseas is there a different rate? Aus to New York?


Decisions, decisions