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  1. #1

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    I’m in EU and would like to sell something. What are good options for transferring the payment nowadays? And given fees and such, is there a difference when selling for 100€ vs say 1000€?

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  3. #2

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    IBAN bank transfer in Europe is safe, free, and gives you the best exchange rate if there is another currency

    paypal seems cheap but in case of a foreign currency they give you an exchange rate that is 5-6 cents per euro less than what your bank will give

  4. #3

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    +1

    Been using the past 10 years or so with no problems.

  5. #4

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    Paypal takes a lot in crossborder transactions. On top of taking a Paypal Crossborder fee of 4.5% out of the recipient, Paypal or your credit card agency offers bad foreign exchange rates. It is better to accept bank to bank wire or for your buyer to use a service like Transferwise where he has control over the foreign exchange spot rates and the fee is minimal.

    The other trouble with Paypal is the overgenerous return policy with your equipment. Paypal does not refund the fees these days. There are potential scammers on both sides but if one party does not trust the other then don't make a deal. Paypal favours the buyer to the detriment of the seller.

  6. #5
    Thanks all for the input! For a more expensive item, how would you normally handle a bank transfer - buyer pays first and seller ships when money arrives?

  7. #6

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    Quote Originally Posted by frankhond
    I’m in EU and would like to sell something. What are good options for transferring the payment nowadays? And given fees and such, is there a difference when selling for 100€ vs say 1000€?
    within EU transfer money: Transferwise is unbeatable, way oven IBAN.
    Not just transfer but sell is a way different thing, both the buyer and the seller need guaranties, so instrument or any gear I would go Reverb, other items ebay, and yes despite the painful fees.

    Bank transfer sounds no sense for me especially from the buyer point of view, which you would consider also (besides of yours), if you want sell something, wouldn't you?

  8. #7
    Quote Originally Posted by Gabor
    Bank transfer sounds no sense for me especially from the buyer point of view, which you would consider also (besides of yours), if you want sell something, wouldn't you?
    Yeah that’s what I’m after, the question is, how to create some security for both. Bank transfer is just that someone put money in somebody else’s account, there is no inherent transaction implied.

  9. #8

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    Quote Originally Posted by frankhond
    Yeah that’s what I’m after, the question is, how to create some security for both. Bank transfer is just that someone put money in somebody else’s account, there is no inherent transaction implied.
    Thanks for explaning what is banktransfer... The risk is not in transferring the money. Since at least a quarter century there are completely safe ways to transfer money especially within EU or within US.

    What was I talking about, that is not using a meddling merchant, there is a risk for who sends first. If the seller sends first, then he is in the risk the buyer will never send the money, if the buyer sends first, then he is in the risk the seller never sends the item. I thought it was pretty clear in my post, but I was an optimist... Your expectation, that the buyer should bank transfer the money is pretty unacceptable from buyers point of view.

  10. #9
    It’s not my expectation, I was just wondering how that would work, since there were a couple posts recommending to use bank transfer.

    My feeling is exactly that someone has to send first. Is it buyer or seller or do you split it or what. In fact, looking around on the web, it’s generally advised not to use bank transfer.

  11. #10

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  12. #11

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    Quote Originally Posted by frankhond
    It’s not my expectation, I was just wondering how that would work, since there were a couple posts recommending to use bank transfer. My feeling is exactly that someone has to send first. Is it buyer or seller or do you split it or what. In fact, looking around on the web, it’s generally advised not to use bank transfer.
    It has been standard operating procedure from day one that the buyer pays, then the seller ships. It requires a bit of homework, reference-checking, a telephone call or two (costs amost nothing and always a pleasant experience for me) which is dead easy to do.

  13. #12

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    Quote Originally Posted by frankhond
    Thanks all for the input! For a more expensive item, how would you normally handle a bank transfer - buyer pays first and seller ships when money arrives?
    Sounds good when you’ve an honest seller. But how’s any buyer to know you’re honest? Me, I’m not sending $4k halfway around the world based on a promise to ship after a bank transfer. I’ll gladly pay the fees associated with a sell via PayPal etc. That’s a buyer’s only insurance. And why go cheap to attempt to save $100 on a $4k guitar. I don’t get that.

  14. #13

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    Quote Originally Posted by 2bornot2bop
    Sounds good when you’ve an honest seller. But how’s any buyer to know you’re honest? Me, I’m not sending $4k halfway around the world based on a promise to ship after a bank transfer. I’ll gladly pay the fees associated with a sell via PayPal etc. That’s a buyer’s only insurance. And why go cheap to attempt to save $100 on a $4k guitar. I don’t get that.
    2B, I am with you on that. And my Paypal purchases go through my American Express card for extra protection.

    I had a European buyer send me 5K by bank wire for one of my guitars. Lucky for him, I am as honest as the day is long and he got a great guitar that was very well packed for the long journey (California to Austria). I am not as trusting as he is.