eBay & Cheque Payment Question!

[nizzex]

Hey guys, I need help from all you experts on eBay and Banks!

I have a question

I have a buyer who wants to pay by cheque. Im not too keen on using cheques. But my questions are:

1) Once the cheque has cleared into my account (given 7 days), will the funds stay in my account for good? So buyer cannot somehow bouce it.

2) If the buyer makes out he hasnt recieved the item, can he some how get his money back from me even though ive sent it with proof?

3) Also, What should do I do if the buyer somehow manages to get his money back?

Thanks

nizzex

 

[Starfish]

Once check has cleared its your money
Hold goods till it has
Send it recorded delivery

 

[The Dentist]

also let him know of your intentions. he might see that he has sent the cheque and 2 weeks gone by and not received anything.

 

[AnLyGi]

Depending on the value of the item, make sure that you post it via a service with adequate insurance. Best bet is special delivery if its valued more than a cost of lunch.

In future just make your auctions paypal only, i wouldnt be accepting a cheque in this day and age, too much hassle. I dont see why anyone would use it when you can send bank funded paypal payments.

 

[Gargamel]

...i wouldnt be accepting a cheque in this day and age, too much hassle. I dont see why anyone would use it when you can send bank funded paypal payments.

agree. i still have the "will accept cheques" option on my auctions but to be honest I havent had a cheque payment from an ebay buyer in years.

I do still occasionally get buyers asking if they can send postal order payments - and i dont mind taking these because the post office cash them instantly.

 

[Messa]

I might be wrong but I am almost sure a cheque can still be reversed after clearing, so be careful.

I accept cheques on eBay but never for large amounts.

Messa

 

[hobogobo]

Once check has cleared its your money
Hold goods till it has
Send it recorded delivery

if its valuable dont sent it recorded its cheap but a a waste of money sent it via special delivery

 

[jackle99]

I might be wrong but I am almost sure a cheque can still be reversed after clearing, so be careful.

I accept cheques on eBay but never for large amounts.

Messa

Yes they can be reversed, agree with the above statement, just amke sure large amounts are paid instantly.

 

[adam]

check their feedback thoroughly, the common scam is to send fake cheques (usually for more than the amount and requesting to send back the balance). these appear to clear at first as they take about 3 weeks to discover

 

[pipsqueaker]

A bank customer cannot reverse a payment once it's been cleared.

The bank can rescind a cheque if months down the line they find that the cheque was fraudulent and get the money back from you.

However, the banks came under fire for this practice and a new law was supposed to come into force making the banks suffer the loss. I'm not sure if it has come into force yet.

It is illegal to stop a check if the service or goods it was paying for have been supplied.

Paypal take a cut from the amount paid into it and then charge you for withdrawing the money so some sellers actually prefer cheques.

I stipulate cheque payment for larger amounts. For really large amounts I only sell on a cash on collection basis.

 

[pipsqueaker]

Hey guys, I need help from all you experts on eBay and Banks!

I have a question

I have a buyer who wants to pay by cheque. Im not too keen on using cheques. But my questions are:

1) Once the cheque has cleared into my account (given 7 days), will the funds stay in my account for good? So buyer cannot somehow bouce it.

2) If the buyer makes out he hasnt recieved the item, can he some how get his money back from me even though ive sent it with proof?

3) Also, What should do I do if the buyer somehow manages to get his money back?

Thanks

nizzex

He can't get the money back. Just make sure it's his cheque in the first place.

If anyone could get their money back, everyone who's been scammed would have done it.

 

[hemelhammer]

I use ebay regularly and only accept pay pal or postal orders
I will only send items using rm special delivery as this protects you the seller from people who say they have not received because you can track the items you post.
Royal mail have just bought out a new service called tracked i might try that if it's not to expensive