In order to participate in the GunBroker Member forums, you must be logged in with your GunBroker.com account. Click the sign-in button at the top right of the forums page to get connected.
First Time Gun Broker Seller, What's The Best method of Payment?
antiglockguy
Member Posts: 16 ✭
I'm a first time Gun Broker seller, I want to know whats the best method of getting paid? I listed Visa/ Mastercard, Money Order and USPS Money Order. Is there something I need to know before I accept payment? I'm also a non licensed seller.
Comments
USPS money orders are the best. If you take mastercard and visa make sure to list the percentage fee you will charge for their use.
Bank check or a cashiers check is good. Walmart has a money order that I have used before.
You cannot accept VISA/MC unless you are a registered merchant. (And, agree to pay them a percentage of every transaction.)
Neal
USPS money order only
Thanks guys for all the replies.
I accept money orders, postal money orders are good, but I really like personal and business checks.
Why?
They take only 2-3 business days to clear, so if I wait for clearance (which I usually don't) there is little delay in the customer getting his goods.
I may wait for clearance if the buyer is NR, or the check number is low, or the purchase amount is high, but usually don't wait because the checks are almost universally good. Since 1999, I have received exactly THREE checks from Gunbroker buyers that bounced. In each case, the maker of the check was a FFL dealer, and in each case, he was very apologetic, and anxious to make it good.
If a money order is lost in the mail, getting it replaced is a LOT of trouble. Meanwhile, the customer still doesn't have his purchase, unless he wants to lay out money AGAIN, to buy another money order. Besides, making a trip to the post office to buy one is just extra trouble.
If a check is lost in the mail, you wait an appropriate amount of time for it to show up, and if it does not, just cut another check. If the original check shows up, as one did for me last week, the seller can either return it or shred it. If the check turns up stolen or misdirected and forged, all the maker has to do is execute a Forgery Affidavit at his bank, and the check is now the bank's problem, not his.
I've even had buyers send cash in the mail. Not recommended, but OK by me.
100% of my buys from Nunn, have been paid for in cash, in a thank you card. (All one of them)
Sound advise from a great seller.
I like to pay with personal checks and would encourage the seller to wait for it to clear.
Same as nunn, makes life easier for both parties IMO. No electronic payments for me.
I like checks, both buying or selling. Never had a problem but I haven't sold anything on here for a long time. I never waited for a check to clear.
One time I messed up and sent something out before I even got the payment. Luckily, I was dealing with an honest guy. But I have never bought or sold anything on here for more than $1000, usually a lot less.
If I have seen something I wanted but the seller did not list checks as payment, I would ask them if they would take one and even gave them my bank's number if they wanted to call. Almost always they took the check.
I agree wit Nunn on all accounts.
I just started using credit thru gun broker. You need a merchant account it works great. But you need a businesses account
Why would anyone of sound mind be antiglock?
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
Hi Mr. Perfect, It's just a little joke of mine. I'm not big fan of Glocks anymore because I prefer other brands over Glocks. I know, I know, I get the Glock fanboys upset, lol
If you are a retail firearm business and already take credit cards...it is a nice option, most of your sales will be paid this way....BUT if you are a different type of business and plan to use your gateway to process your firearm sales you NEED to check on the company policy and be sure they allow firearm transactions.
I'd suggest NEVER taking American Express for anything....we used to take that form of payment and when someone disputed the charge they sent us a letter saying "American Express does not support online sales"....no other explanation, just that garbage. I'll tell every retail seller that story I can in order to prevent anyone else ever getting that nonsense in the mail.
Certified checks and money orders are safest, but the lag in time it takes for people to complete the sale makes buyers that are limited to those options unhappy....especially in an internet based business.
Personal checks or business checks are fine, but I always explain we do not immediately ship items when they send personal checks, just because out of state personal account payments have a loophole that allows a person to make a stop payment on them up to 10 days later....even if the check "clears" its not final according to the ladies at the bank. (I've never had anyone ever do this though.)
Gun Broker Pay is growing momentum and people love that they don't have the credit card fees when they use that form of payment.....so I'd get that going, because people do use that as an option. Plus, you can use it to pay your GB fees and get a discount!
I can electronically deposit a money order into my bank account. No need to go to the post office.
Money orders and cashier's checks work in my book.
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
Cash is King, if I trust the seller.
I've sent cash to a few forum members on here who sell on the auction side.
I usually shy away from postal money orders. I am at work, six days a week, from 5:30am until 4:30pm. Post offices aren't open to buy one when I'm not at work. Banks either.