Questions on selling

I've finally convinced myself to sell one of my ukuleles that isn't the best fit for me. It's a great ukulele, but my fingers are so picky (no pun intended) after an injury that the scale length just doesn't quite work for me.

IIRC, PayPal changed and now requires linking it to a bank account. I don't want to link it to a bank account.

What do you all do for payment if you sell something?

I might just resign myself to selling on consignment, (20% would go to the store selling it, I know), because I don't know how to work the payment issue.

When I first started selling on Ebay and got a PayPal account I went to my bank and opened up a checking account just for PayPal. I don't carry a big balance and it is not connected to any other accounts at the bank. I can still transfer money into it and out of it. I use PayPal a lot and I've never had a problem with it. But just in case, there's never much in that account to take.

Joyful Uke said:

..
What do you all do for payment if you sell something?

I might just resign myself to selling on consignment, (20% would go to the store selling it, I know), because I don't know how to work the payment issue.

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For ukuleles, I take only cash, which limits me to local transactions. At where I live, Craigslist is very fast at selling ukes under $300 (the longest took slightly over a week). However, the more expensive ukes (around $1k) takes forever to sell or never sells on Craigslist. (I don't have experience between $300-$1k.)

When I sell items via mail, I require USPS money order. I've sold many items this way, some needing several money order to cover the cost. I usually cash the MO before shipping the items; but a few times I couldn't because the local post office didn't have enough money. So far, every transaction has worked out well.

DaveY said:

I use Square - https://squareup.com/us/en/invoices - and invoice via email. Square does have my bank account info, but I think it's in their interest (no pun intended) to safeguard it. I stopped using PayPal years ago. I like that Square automatically transfers the money into one of my business accounts; when I was using PayPal, it did not do that, creating an extra step for me.

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It may be in Square's interest, but it may not be necessarily in some of their employees' or external support people's interests (many companies even use external support for their DB/database and HSM/hardware security module). Always be careful about linking your main banking account for payment.

It pretty simple, especially if you're a credit union member, just open a small account, a savings account will do and link only that account. It's just a real convenience.

Easy peasy.

Bluesy.

I just use the standard "send money." Then it asks if it's for "goods and services" or to an individual. If it's for goods and services, PayPal automatically applies the protection fee to the seller plus the PayPal fee. If you are sending money to a person, the sender gets charged a fee.

I sold a tenor last month and the buyer wanted me to use the invoice method (IIRC?). So I followed all of the instructions until PayPal required me to link my bank account, or to a PayPal Credit Card. I cancelled, and told the buyer we had to use the standard method and that I would pay for the protection and transaction amounts. (State this up front, who pays for what along with shipping costs.)

I have my AmexCard as the payment method to PayPal which also adds the credit card protection to my purchases. So far, I've never had a problem. And only had PayPal intervene with one transaction where the ukulele was in much worse shape than revealed and the photos were taken very carefully to not show the problems. (A Kamaka tenor bought on Facebook's Ukulele Marketplace.) After no response from the seller I complained to PP and they contacted him and it was quickly resolved and I returned the uke for a full refund.

The seller claimed that he didn't understand that "Like new condition" and my asking about whether it had any dings, dents or scratches meant the huge dent it had in the left upper bout right next to the neck or the ding in the edges. Fortunately, I kept copies of all of my correspondences with the seller. Especially all of the ones asking about the condition of the instrument.

"I sold a tenor last month and the buyer wanted me to use the invoice method (IIRC?). So I followed all of the instructions until PayPal required me to link my bank account, or to a PayPal Credit Card. I cancelled, and told the buyer we had to use the standard method and that I would pay for the protection and transaction amounts. (State this up front, who pays for what along with shipping costs.)"

Oh - do you only need to link a bank account if you're selling as "goods and services", but not using the "send money" option? I was under the impression that a bank account needed to be linked no matter what, but obviously I haven't sold anything lately to test that out.

So what I recall being "Family and Friends" would work without a bank account attached to it?

Joyful Uke said:

"I sold a tenor last month and the buyer wanted me to use the invoice method (IIRC?). So I followed all of the instructions until PayPal required me to link my bank account, or to a PayPal Credit Card. I cancelled, and told the buyer we had to use the standard method and that I would pay for the protection and transaction amounts. (State this up front, who pays for what along with shipping costs.)"

Oh - do you only need to link a bank account if you're selling as "goods and services", but not using the "send money" option? I was under the impression that a bank account needed to be linked no matter what, but obviously I haven't sold anything lately to test that out.

So what I recall being "Family and Friends" would work without a bank account attached to it?

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"Friends and Family" and "Goods and Services" are just shorthand for the Standard method of sending money. Which you click on the button that says "Send Money" . It will then ask if it is to a person, or to Pay for an item or a service? (I think that's how they term it.)

For the standard method of sending money you have to have a credit card or a bank account tied to your PayPal Account. Or have a cash balance in your PayPal account.

So, if I send $100 to someone to buy a uke. PayPal charges my credit card $100 for that transaction. (Or they take $100 directly out of your bank account. There is a lag until that transaction clears.) The seller is charged with the fees for the transaction.

Sometimes I will pay the fees if the seller pays for shipping. And I reimburse that via a "send money" to the person and get dinged for the small transfer fee.

I DO NOT give anyone access to my bank account. I have a different credit union checking account that an employer, Social Security, or a Broker can deposit money.

Joyful Uke said:

I've finally convinced myself to sell one of my ukuleles that isn't the best fit for me. It's a great ukulele, but my fingers are so picky (no pun intended) after an injury that the scale length just doesn't quite work for me.

IIRC, PayPal changed and now requires linking it to a bank account. I don't want to link it to a bank account.

What do you all do for payment if you sell something?

I might just resign myself to selling on consignment, (20% would go to the store selling it, I know), because I don't know how to work the payment issue.

Click to expand...

Hi. I use both PayPal and Zelle (which is a cash-transfer-direct) that is offered by my Credit Union. Zelle charges nothing to the sender or recipient. You do need to sign up through your financial institution; which obviously means it has to offer the Zelle benefit! Each financial has the account information of each party and uses a series of encryptions that are assigned to either a phone number or email address... More secure than sharing credit card info. For PayPal I use PayPal.me rather than any of the other fee transfer services. You'll have to go into the PayPal website and read about the process yourself (rather than depend on my incomplete description).... After it is set up I simply send the buyer my PayPal.me link and they make payment. Whether they pay a fee or not depends on their use of a credit card or have the funds available through some account of their own. I've sold ukes, a kayak, canoe, and some of my custom furniture this way... both ways.

EDIT: Both buyer and seller must have Zelle accounts.
Somewhat related. I use multiple debit card account, one that is linked to an account that has a very very small balance. When I make a purchase, Zelle transfer, or payment through PayPal, I transfer only the exact amount of the transaction into that account.

Thanks to all who have responded. I have sold in the UU Marketplace before, but that was before you needed a bank account attached to your PayPal account, (though maybe the PayPal.me gets around that?)

I don't plan on buying/selling to any degree anymore, (though you never know, LOL), and don't know any banks around here that don't charge fees if you only have a small amount in an account, so opening an account to just sell one ukulele doesn't seem like it would be worth it, for now, anyway.

I'm too chicken to sell in person to someone I don't know. Too many carjackings and other violence and other craziness around these days. Not likely to happen, I know, but....

So I either need to figure out a good way to handle the financial transaction, or sell on consignment, (or keep it. LOL.)

Anyway, if anyone is interested in the ukulele in question, it's a Kamaka HB-2BC (Ohta San with a cedar top.) Set up with nice low action by Mim. My fingers just prefer 15 inch to 16 inch concerts.

So, not in the $300 range that clear mentioned.

I don't know any stores locally that would take it on consignment, (other than maybe Guitar Center, but I have heard that they're not good to deal with? Don't know how/if they handle expensive ukuleles, anyway.) So, I'd have to ship it somewhere.

I'm probably overthinking it all. I don't recall thinking it was this difficult when I sold here on UU before. And I sure had no problem buying from UU.

Why wouldn't you want to link a bank account to Paypal?
You're not really making yourself vulnerable to any scams; Paypal has a lot of protection and security.
Your bank will also reverse any dubious payments.

It'll take you a few minutes and will pretty much resolve your issue.
If you're selling online, Paypal is certainly the way most people want to pay if you aren't close enough to exchange cash in person.

I've been using eBay and PayPal for years with no problem. Unfortunately, each gets a cut of the selling price. With PP, people can pay you using a credit card - very convenient.

paypal is very safe; been using it prob 20 years. seems many are moving to venmo these days, not sure why.

Jerryc41 said:

I've been using eBay and PayPal for years with no problem. Unfortunately, each gets a cut of the selling price. With PP, people can pay you using a credit card - very convenient.

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Credit cards usually charge for the use of their card, and you need to be signed up via some service like Square or others. Is that not the case when used via PayPal?

I'm making this all harder than it needs to be, I guess. I tried reading about PayPal.me and couldn't tell if that needed to be linked to a bank account.

I sold a few ukuleles here before PayPal wanted things tied to a bank account, and it was easy. It's the bank account thing that has me stumped now.

I know people who have had money drained from a bank account, (though not via PayPal AFAIK), so that gives me pause.

Joyful Uke said:

Credit cards usually charge for the use of their card, and you need to be signed up via some service like Square or others. Is that not the case when used via PayPal?

I'm making this all harder than it needs to be, I guess. I tried reading about PayPal.me and couldn't tell if that needed to be linked to a bank account.

I sold a few ukuleles here before PayPal wanted things tied to a bank account, and it was easy. It's the bank account thing that has me stumped now.

I know people who have had money drained from a bank account, (though not via PayPal AFAIK), so that gives me pause.

Click to expand...

Credit cards charge a fee to the store. PayPal and eBay charge the seller a % of the sale. I hate paying it, but it lets me sell things. In the old days, I'd run an ad in the newspaper for a few days, and I'd pay whether I sold the item or not.

I don't mean your uke is $300 (I don't even know what uke you're selling); just that I've found Craigslist is very fast at selling ukes under $300.

Since you are selling, maybe Paypal can just hold the payment in you account and then write you a check? Amazon used to do that when I sold thru them (but that was 20 years ago). You can always ask for USPS money order; it doesn't need any bank and you get cash (this is the normal payment method on some forums).

As the seller, you shouldn't have to do anything. PayPal collects the payment, automatically subtracts the fees from the buyer's payment and holds the money in your PP account.

After I received payment, and the buyer received the uke and said it was wonderful, I had PP send me a check for the remaining amount I was paid for my uke. I paid a $1.50 for them to do that. No bank account needed.

The most difficult aspect of the transaction was packing the uke and taking it to the FedEx center.

I like PayPal because I don't have to give my credit card information to strangers. I don't have to wait for money orders or checks to clear. I don't have to have a way to accept they buyer's credit card/debit card payment. And there is some added protection for both the seller and the buyer.

I've also used it internationally without any hitches.

For those of you who use Vimeo, the default setting in the Vimeo account is to make your use and transactions public. You have to change the settings manually. Firefox and Malware have articles about it on their blogs.

Joyful Uke said:

Credit cards usually charge for the use of their card, and you need to be signed up via some service like Square or others. Is that not the case when used via PayPal?

I'm making this all harder than it needs to be, I guess. I tried reading about PayPal.me and couldn't tell if that needed to be linked to a bank account.

I sold a few ukuleles here before PayPal wanted things tied to a bank account, and it was easy. It's the bank account thing that has me stumped now.

I know people who have had money drained from a bank account, (though not via PayPal AFAIK), so that gives me pause.

Click to expand...

A few years ago someone in Austin, Texas took $2000 bucks from my checking account the good old fashioned way, a counter check. It was totally random, they generated the numbers and it happened to be me. So don't think you are safe if you just do everything the old way. I contacted the bank and the money was back in my account that very afternoon. There are safeguards.

My Paypal is linked to my debit card. No issues buying or selling. Since it's a Visa debit, it has fraud protections, so I figure that's safer. My daughter had $8000 taken from her bank account fraudulently last year. Not through a debit card, but apparently directly using her bank account. The bank covered her and made good for it.

If you bank online you should absolutely use a VPN to protect your session. If your financial institution's site can handle it.

2-step verification is also important. If they don't have it, tell them to get it to protect their clients.

Glad to hear your daughter's bank made things good for her.