What Is Your Preferred Payment Method?

[watch204 0]

Hi Guys,

 

This just came to me today, as I was sending money to a TD and I was having some slight difficulty coming to a conclusion on how to pay for a large transaction... almost $1000.

 

So just thought I'd share this with everyone and see what other people think or know about this....

• PayPal: My instant first choice, mostly because I am very familiar with it and have used it countless times for years on eBay. I also like how sending money there's no fees on your end, and that you can use Credit Cards. However, recently been rethinking it, due to:
  
  • Increase in cost, as dealers add a PayPal fee (in this case it was 5%) - not blaming the dealer for this, I understand where they are coming from
    
  • Their exchange rate sucks, but you can still opt to have it charge your credit card in your local currency.
    
  • Risk of having PayPal investigate my payments or the TD's receipt due to large $ value.
    
  • This begs the question... has anyone ever had experience with this being an issue? Is it recommended to not use PayPal for larger transactions?
    

  [*]Western Union: Looked into it last night, and seems to be extremely high fees (I think around 8% for online service). No thanks. But you can use credit cards..... UPDATE: Fee is significantly less in person ($15 for $1000), but they only accept cash or debit that way.

  [*]MoneyGram: Seemed to be a good idea, fees are really low, (I think it was like $15 to send $900) - but they only let you pay by cash or debit. I probably would've done this if I had the cash on hand right away...

  [*]Bank Transfer: Never looked into this, as I've always just assumed that bank fees to transfer money would be really high, plus its never convenient to go to a bank IMHO.

Just wanted to see what other think and which you prefer, in case there's a better method I'm not aware of or compelling reason to use something else...

 

 

 

Thanks!

Edited November 7, 2012 by greg_r

[onionbag 1]

Bank transfer, by digital banking, safe and no fees. Couple of kliks and I'm good to go.

[vexorg 0]

Paypal, i'm too lazy to go out to store to send money via WU. And in Canada bank transfers not really a thing here.

[dedafmonteur 0]

Cash! Got some left.....:P

[Hazz 0]

Cash! Got some left..... :P

Need to send you over some more ink :hehehe:

[Pihlippe 1,286]

I use PP or WU, couple of clics and your done.

[RichardMiami 4]

The American spirit at work - I make my own!

 

[Pihlippe 1,286]

I tell all the TD's

[Cynikal.Mindset 1]

used to use paypal until they slammed my door shut and are holding some money of mine...and since next to nobody takes Mastercard I'm gonna try WU out and hopefully not have to go in to a brick and mortar store to do it...

[1littlegreen 1]

Cyn, I had a similar situation with PP. Ordered item, tracked, never recieved, bla bla bla.... filed dispute, PP took sellers side and banned me. So it's WU only for me. You can do all of it online too.

 

Some folks are kind of leary of it, but once explained to them, all is good. (so far).

 

Kev

[Cynikal.Mindset 1]

I hope its as easy as it sounds...I have an order pending now for western union so I just gotta wait for the payment info and see if I can do it online...which I hope works

[hnic 1]

pp

[1littlegreen 1]

I hope its as easy as it sounds...I have an order pending now for western union so I just gotta wait for the payment info and see if I can do it online...which I hope works

Agreed...getting it up and "clickable" is a pain, but once it is done it's just as good as PP in my view.

[Serge D 0]

Paypal has been good to me for now. Knock on wood.

But WU is $10 for anything under $1000 for where i live. And you can send money online using your credit card.

Chase person to person works like paypal but its free within CONUS.

Bunch of other options but all these $3-4 difference doesnt really matter.

PT had 10% discount on orders paid using WU. So i ended up saving even more.

Serge.

[Cynikal.Mindset 1]

if I'm buying M2M with a fellow Canadian I use email money transfer which is instant to the bank account and only costs the sender $1.50...the thing I miss the most is paypal and the shipping discounts when printing direct from my account...which meant no trips to the post office too

 

luckily I have a paypal account I can use to receive payments still and send if really needed but only for super rare occurrences...and I did find a loophole to send money by paypal using a credit card without having an account which came in handy recently.

[hondas2000 0]

Paypal

[watch204 0]

if I'm buying M2M with a fellow Canadian I use email money transfer which is instant to the bank account and only costs the sender $1.50...the thing I miss the most is paypal and the shipping discounts when printing direct from my account...which meant no trips to the post office too

 

luckily I have a paypal account I can use to receive payments still and send if really needed but only for super rare occurrences...and I did find a loophole to send money by paypal using a credit card without having an account which came in handy recently.

 

Love email money transfers! Yay benefits of being Canadian haha

 

 

Paypal has been good to me for now. Knock on wood.

But WU is $10 for anything under $1000 for where i live. And you can send money online using your credit card.

Chase person to person works like paypal but its free within CONUS.

Bunch of other options but all these $3-4 difference doesnt really matter.

PT had 10% discount on orders paid using WU. So i ended up saving even more.

Serge.

 

Thanks for the info! I just checked on WU and updated my post accordingly.

[Member X 91]

I have WU'd once and would do so again now I have - easy to fill in form once you've done it once, low fees, decent exchange rate, and you don't even have to put your proper name or address details on the payment so no issues regarding getting things tracked back to you if you pay cash (and no ID necessary up to £600 - just remember to say 'yes' when they say "Do you know the person you are sending the money to" and No to "are you buying something" )

 

Just make sure you tell the Trusted Dealer the name used if you don't use the name on the address details you have given them.

Edited November 5, 2012 by Member X

[jeffw69 0]

The onl way to go: MasterCard.

[replicastuff 0]

voted paypal, at least some comeback if a deal goes wrong

[nickee_2dS 0]

PayPal even if sometimes I send cash by airmail

 

Inviato dal mio XT910 con Tapatalk 2

[cwazy1 0]

with TD's, usually WU, just because they tend to do a 10% discount... and on a large order, thats a good sum of cash.

[LightGeek 25]

Wow you've got me beat I think. My largest single transaction as a noob was "only" $800 haha. PayPal is ok only because it's convenient. If it's tied to a 2-3% cashback card or you already have funds, go for it. Else try WU and ask for a discount from TD if not offered.

 

 

 

________________

Sent from my mobile device. Please excuse the brevity of this message.

[Loonie 0]

Where is visa option? Relegated to 'Other'?

[Luthier 1]

MG, period.