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Thread: Safe Payment Methods In Canada.

  1. #41
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    Quote Originally Posted by SPeters View Post
    Good info but a lot of it seems to be geared to protecting the seller from fraud. This has been asked by others already but not been answered. What do the payment methods in the original post offer the buyer for protections? It seems like they all involve sending the money away and hoping the watch is actually mailed to you. An escrow service, though it has fees, offers two way protection to both the seller and buyer.

    I love etransfers but once that money is accepted, itís gone. Then the buyer is just waiting for tracking information and hoping he wasnít scammed.
    In my humble opinion, this exactly correct.

    I have been collecting watches for over fifteen years and I would never send money in any form, other than PayPal. Yes, the fees are exorbitant for the seller, and the refund system has sometimes been touted as less than perfect, but at least both the buyer and seller have some level of protection.

    As a buyer, when you send money via Bank Wire, E-Transfer, etc, you have zero protection. If a box of marbles shows up in lieu of your new watch, you have no means, at least that I am aware of, to recoup your loss. The same situation is true if one choses to use Friends and Family via PayPal. This is not a good practice as the F&F option with PayPal is considered a gift and as such, no fraud protection is afforded.

    Just as a real world example... I recently decided to join this site after years on WUS and others. I like the fact that I'm dealing with my fellow countrymen and no Customs are involved. An added stroke of genius in my opinion was the Admin insisting on Canadian Dollar listings! The other day, I found a watch on here that I had been looking for for a couple of months. I contacted the seller, made an offer and asked if they would accept payment via PayPal. The seller responded that they would indeed accept a PayPal payment, however they would not ship the watch until the funds had been transferred from their PayPal account to their bank account. I found the request odd as having the money in their PayPal account vice having transferred it to their bank account does not give the seller any relief should I decide to file a claim. In any event, as I felt the price was very reasonable and the seller has stellar reviews, I agreed to the terms and promptly sent the funds. Within minutes I received a PM from the seller indicating that I had not sent the funds as a gift and that PayPal had charged a fee for the transaction. The seller then refunded my payment and asked that I send the funds via Friends and Family (Gift). To be honest, I have sent money via Friends & Family in the past but only to sellers that I have interacted with before. In this case, even though the seller had nothing but fantastic feedback, he and I are new to each other and I feel it would be somewhat irresponsible to make the transaction without some level of protection. In the end, the seller graciously accepted payment via PayPal Goods & Services. Again, even though the watch has yet to be shipped, three days after payment has been sent, I feel the modicum of insurance I have gained by paying with PayPal is well worth the inconvenience.

    As I am a new member and this is just one dummies opinion, there will be no hard feelings if anyone chooses to completely ignore my advice

  2. #42
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    Quote Originally Posted by appleb View Post
    If the buyer claims he didn't receive the watch and requests a refund, then what do I need to show to paypal to prove that I sent the watch?
    in the past if its a high priced item, ive made a quick video of me packing up the watch. if i have the packing label already i include affixing that to the package and handing it to the courier, in the video. if i haven't gotten the label before hand i make sure to zoom in on the package after ive taped it up. so when it does ship off with the label attached, i can take another photo/video to show the tape job is the same as the video and not altered.

    thankfully/knock on wood ive never had any issues so ive never had to given this to PayPal. but i also do my due diligence on my buyers as well. if they don't have satisfactory feedback i tend to insist on a more seller friendly form of payment.

  3. #43
    Junior Member Watch_guy_401407's Avatar
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    Safe Payment Methods In Canada.

    Update - Good halfway point between Toronto and Southern Ontario is the Brantford police station.
    They are very friendly and welcoming to buyers sellers transactions. The ladies at the desk are always curious as to what youíre selling and itís fun to educate them on watches.



    Sent from my iPhone using Tapatalk

  4. #44
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    thanks for that info Bobby. I have just listed two watches (back on CWC after a long absence) and it never occurred to me to ask for interac transfer. I will amend my listing to suggest this.
    Regards,
    Robert

  5. #45
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    just wanted to chime in

    some banks have no fees for e transfer (unlimited amount each year)

  6. #46
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    Years later and this thread is still solid

    Sent from my EML-L09 using Tapatalk

  7. #47
    Sophomore Member Abroy's Avatar
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    Has anyone dealt with a buyer wanting to pay in cash F2F on a high value transaction? Banks do have the 10k threshold but in an honest transaction with a paper trail is there cause for concern?

    Sent from my SM-G970W using Tapatalk

  8. #48
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    i wonder whether EMT is reversible? I've never had a problem for smaller amounts, but i do worry as I'm selling my watch for a bit of $

  9. #49
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    Quote Originally Posted by DNuts View Post
    i wonder whether EMT is reversible? I've never had a problem for smaller amounts, but i do worry as I'm selling my watch for a bit of $
    Interac Etransfers are not reversible

  10. #50
    Sophomore Member Paneraienthusiast's Avatar
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    Thank you for sharing the lessons learned, tips, and cautionary tales for CWC membership benefit. Lots of costly headaches have been saved by these tips Iím sure.

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