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Thread: Safe Payment Methods In Canada.

  1. #11
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    I am also new here and wonder the same thing


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  2. #12
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    Quote Originally Posted by Craigdwh View Post
    As far as I'm concerned PayPal is the gold standard as a buyer if you want to cya. PayPal offers complete protection for items not received as well as for counterfeit and fraudulent items. It states exactly what it covers on Their buyer protection page.
    https://www.paypal.com/ca/webapps/mp...nline-shopping

    You can also send a payment as gift which eliminates all fees however the gift method waives all the protection noted.
    PayPal is not always 100% safe. Never allow someone to pay via PayPal and have a face to face transfer of the watch because the buyer can then go home and claim he never recieved the item and gets his money back. If selling via PayPal make sure you use a delivery service that handles the recieving end.

    Just food for thought

  3. #13
    Member EdwardW's Avatar
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    I am new to the world of watch buying/selling and this is a great thread. I am interested in knowing the most typical transaction, is it cash F2F? Bank Draft F2F? I can see cash being an acceptable method for small ticket items but how about for more expensive watches? I am not sure I want to be bringing a wad of $100 bills to a Tim Hortons. What do most people prefer?


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  4. #14
    Senior Member floco's Avatar
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    Quote Originally Posted by EdwardW View Post
    I am new to the world of watch buying/selling and this is a great thread. I am interested in knowing the most typical transaction, is it cash F2F? Bank Draft F2F? I can see cash being an acceptable method for small ticket items but how about for more expensive watches? I am not sure I want to be bringing a wad of $100 bills to a Tim Hortons. What do most people prefer?


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    You can meet at a branch of the seller's bank and have the draft issued in front of you to make sure it's drawn on legit funds. Or meet at the buyer's branch to ensure bills are authenticated.

  5. #15
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    Well done Sir, due diligence and proper money practice is always key. Having someone like yourself putting it down in english for all it ready should really shut the scammers down. Great job good Sir. Cheers Liam

  6. #16
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    As a new member of this forum, thank you for posting this! Very informative.

  7. #17
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    Just another thank you from a new member.

  8. #18
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    I am thinking what is the saftest way for F2F deal. I really don't like deal with large amount of cash.
    Here is what I am thinking, I use this method on lower value trade before (under $2500) but thinking how it would work for higher value, and what others think.

    Let say I buy a $10000 watch, since my bank limited EMT transfer to $2500, it would take me 4 days to send all payments to seller, but I won't give the password to the seller.
    When we meet face to face, I can check the watch, and if everything is good, I give the password to seller, and he can just deposit the fund on the spot.

    I feel safer because I don't have to handle large amount of cash.

    Anyone think it is a good method?
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  9. #19
    Senior Member BARCODE's Avatar
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    Great thread and info Bobby! Certainly, email money transfer is a godsend for Canadian-to-Canadian deals but when buying from other countries I feel the PayPal system is safest.

    The only other thing I can add to the discussion which hasn't been mentioned is the popular adage of "buy the seller first, then the watch." If someone has a long trading history with positive references you have a safety blanket simply from their online reputation. Many people who buy and sell a lot use their business e-mails (as I do) so if something went sour you know who they are, where they work, etc. You're not just sending funds to a gmail account that could have been set up last night.


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  10. #20
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    Quote Originally Posted by wilsoncheng View Post
    I am thinking what is the saftest way for F2F deal. I really don't like deal with large amount of cash.
    Here is what I am thinking, I use this method on lower value trade before (under $2500) but thinking how it would work for higher value, and what others think.

    Let say I buy a $10000 watch, since my bank limited EMT transfer to $2500, it would take me 4 days to send all payments to seller, but I won't give the password to the seller.
    When we meet face to face, I can check the watch, and if everything is good, I give the password to seller, and he can just deposit the fund on the spot.

    I feel safer because I don't have to handle large amount of cash.

    Anyone think it is a good method?
    I like it. This is a good thought even for under $1,000. They can see the transfer in their inbox before getting there and with a phone or laptop can accept while you're there. Maybe adds an extra 2 minutes to the meeting, and takes the need for cash right out for both.
    Great idea!


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