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how to use paypal or escrow?

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  • how to use paypal or escrow?

    hi guys, i have some products listing on Trademe, an oversea buyer want to buy my product, he asked me: How do you prefer to get paid: www.PayPal.com, www.escrow.com, check or wire?

    could someone please give me some idea about how these website work? i never use one of them before, thanks a lot
    A8

  • #2
    I am based in the UK and use Paypal, with great success, cheaper and smoother than banks, i primarily use it for the goods i export to the US, watch out for the 2.5% fee and remeber to pass this on to the purchaser when you can. you simply need to register with paypal pass sopme escurity checks and then you just obtian the purchasers paypal email or username and request money. there are no other fees to transfer monies to UK and US banks and currencies but you will have to check how they would operate with NZ dollars and banks

    Paypal are now owned by Ebay so have a lot of financial clout, havent heard or sued the other.
    Kia kaha

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    • #3
      hi duvetray, thanks for the post

      the 2.5% you mentioned, is it the percentage charged when receive payment by credit card? cheers,

      according to my understanding from the site: for a personal account, it is free to withdraw NZ$150 or more and transfer to local NZ bank account; and NZ$1 fee for below NZ$150. sounds better than a normal bank

      a
      A8

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      • #4
        Paypal is great for smaller amounts. Say under 1000.

        For larger amounts i.e. property stuff, I use ozforex.com.au
        (oops, I just edited this post, I had accidentally written OX-forex!!!!!)
        Pssst...they say the lower limit for a transaction is 2000, but they'll waive that if you ask them nicely.

        they are brilliant and give a better rate than the banks for TT.
        I filled out the form and within minutes literally I was able to b-pay the money to ozforex for the trade (organised with one phone call) and the money went out of my Aus account overnight and was in NZ overnight the next night.

        Back to paypal. you can't use it without joining up, so best just go to the site and join up, and there is a load of information on the site itself telling you everything you need to know.

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        • #5
          the 2.5% is effectively a commision charge on the transfer of currencies
          Kia kaha

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          • #6
            I use palpal all the time from my web site. Generally they work well, and their fees are quite reasonable.

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