Send Payment Promptly and Securely for Any eBay Transactions - dummies

Send Payment Promptly and Securely for Any eBay Transactions

By Marsha Collier

Being the good eBay buyer that you are, you’ll get your payment out pronto via PayPal. Do it immediately — why wait? (The sooner you pay, the sooner you get that charming Wizard of Oz Flying Monkey decanter you won!)

So how many times have you heard the saying “The payment is in the mail?” If you’re on the selling end of a transaction, hearing this line from the buyer but not getting the money is frustrating. If you’re on the buying end, it’s very bad form and may also lead to bad feedback for you.

Most sellers expect to get paid within a couple of business days after the close of an auction. (Buy It Now items are paid immediately.) Although this timeline isn’t mandatory, it makes good sense to let the seller know if there will be any delay in payment.

Send your payment promptly. If you have to delay payment for any reason (you have to go out of town or you are over your credit card limit), let the seller know as soon as possible. Most sellers understand if you send them a kind and honest e-mail.

Let the seller know what’s up, give him or her a date by which the money can be expected, and then meet that deadline. If the wait is unreasonably long, the seller may cancel the transaction. In that case, you can kiss your positive feedback goodbye.

The bottom line is that just about every eBay seller accepts PayPal as the main payment option. PayPal is the safest way to pay on eBay. eBay sees to it that PayPal is incredibly easy to use because PayPal is the official payment service on eBay.

After an auction is over, a link you can use to pay appears. If you prefer, wait until you hear from the seller. You can make your payment in several ways:

  • Credit or Debit Card: You can use your American Express, Discover, Visa, or MasterCard to make your payment through PayPal. The cost of the item is charged to your card, and your statement will reflect a PayPal payment with the seller’s ID.

  • eCheck: Sending money with an eCheck is easy. It debits your checking account just like a paper check. It does not clear immediately, and the seller probably won’t ship until PayPal tells him or her that the eCheck has cleared your bank.

  • PayPal’s Bill Me Later: If you’d like to open up a credit line with PayPal you can (as long as you qualify). By clicking the Bill Me Later option, you can open up a credit account in a minute or so.

  • Instant Transfer: An instant transfer is just like an eCheck, except that it clears immediately and the money is directly posted to the seller’s account. It is only available to users in the United States who have linked a U.S. bank account and a debit or credit card to their PayPal account.

    When you send an instant transfer, your credit or debit card will be a backup (should the payment from your bank be denied).

PayPal is great when shopping at other websites as well. PayPal also has a buyer protection program, which covers your purchases in the case of possible fraud (if your item arrives not as described).

When the auction is over, you can pay in a few ways. Click the Pay Now button on the e-mail you receive from eBay to check out and confirm your transaction details. If you don’t pay immediately from the item page or the eBay e-mail, click the Pay link on the drop-down menu to the left of your item on your My eBay Purchase History area.

After you click, just follow these steps:

  1. If this is your first encounter with PayPal, register.

  2. Check to be sure your shipping address is correct.

  3. See that the appropriate transaction appears and decide how to pay.

If you’re new to PayPal, they take you step by step through the process of filling out a payment form to identify the auction you’re paying for, as well as your shipping information. Then you’re all done.

Your credit card information is held safely with PayPal, and the payment is deposited into the seller’s PayPal account. The seller receives notice of your payment and notifies you about how quickly he or she will ship your item.

By paying with PayPal, you can instantly pay for an eBay item without hassle. Your credit card information is kept private, and your payment is deposited into the seller’s PayPal account.

You can always view your Checkout status or track the package by going to your My eBay: Purchase History. Click the drop-down menu in the Action column for the item in question.