Selling without PayPal

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USPS Money Order or cash on customer pickup.

RustyRatRod said:
...Been told "take it to your bank"...
Click to expand...

Wow! I think I'd be asking the PO Managers about that.

"How to Cash Domestic Money Orders
Domestic money orders never expire and they do not accrue interest. Money orders are cashed for the exact amount on the order.


You can cash a USPS money order at a Post Office for free. You can also cash them at most banks and some stores. Rural carriers may cash money orders if they have enough money on hand."

Maybe they need to read their own policy.......
Money Orders | USPS
 
DionR said:
Biggest issue I have had is when I tried to add money to my PayPal account, used to do it all the time. That way the money was there and I didn't have to wait for the 1-3 days to pay some guy.

At some point they changed that and now adding money to the account requires 3 pieces of ID, a DNA test and a stool sample (at least it felt like it). I was furious that they wanted all this invasive personal info. In the end, just make sure the money is in the linked account and it sends instantly. Feel kind of bad for the way I reacted, even posted a thread on FABO about how I was done.

I don't sell much so I have never had to fight for my money. But I am waiting for 4 boxes to land on a guys doorstep tomorrow and hoping he doesn't pull something. Time will tell. I did make copies of the PM's and have the tracking numbers so I think I have the proof I need.

Seems like there are more and more people trying to pull scams on people. Hope I'm not the next one...
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Don't feel too bad about it.
We are all under the stress, in many different ways.
Glad we have a way to vent here on Fabo.
Some people have nobody, and that's gotta be tough.
Joe
 
Paypal is now asking for my soc sec # so they can report my sales to uncle Sam so he can tax me at 25%.... :icon_fU:

Or they will limit me to just sending payments or friends and family only...
 
krazykuda said:
Paypal is now asking for my soc sec # so they can report my sales to uncle Sam so he can tax me at 25%.... :icon_fU:

Or they will limit me to just sending payments or friends and family only...
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Do you sell a fair amount?? I doubt I have hit the $400 mark for sales this year and haven't seen that.

If the government does that, seems like you would have to create a business just so you could report the shipping as a cost of business rather than absorb it all as income. Yikes.
 
In my Mopar business I run between 20-30,000 dollars thru PP every year. I take PP mainly because I don't take credit cards. PP pretty much works the same as credit cards. Pretty much the same protection for both the buyer and seller. Pretty much the same cost but is actually easier for the seller than credit cards. I've never really had a problem in 15-20 years. I also take checks and money orders. Which ever works for my customers.
 
Venmo, chase zelle pay,, never been burned
On any those because ID of both purchaser
And seller are known forever.
Hard to delete when there is no account
Or third party...
 
DionR said:
Do you sell a fair amount?? I doubt I have hit the $400 mark for sales this year and haven't seen that.

If the government does that, seems like you would have to create a business just so you could report the shipping as a cost of business rather than absorb it all as income. Yikes.
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No, a few items, but not too much...
 
Daves69 said:
USPS Money Order or cash on customer pickup.



Wow! I think I'd be asking the PO Managers about that.

"How to Cash Domestic Money Orders
Domestic money orders never expire and they do not accrue interest. Money orders are cashed for the exact amount on the order.


You can cash a USPS money order at a Post Office for free. You can also cash them at most banks and some stores. Rural carriers may cash money orders if they have enough money on hand."

Maybe they need to read their own policy.......
Money Orders | USPS
Click to expand...
The only reason I've been told to go to my bank for a US postal money order, is they don't have tons of cash in my little town. They've had the amount I received, $150 or less, and I always go at the end of the day.
 
Love it or hate it, its about as powerful a tool in E-commerce there is. I buy all my parts via paypal, even from China who are taking more and more paypal payments. Western Union? You gotta be kidding....its it like 13% commission? I as buying a electronics package from China and they said they only took bank wire transfers. I told them when they agree to take paypal, get back with me. A week later they accepted paypal and I ended up buying it from them, no problems. Yeah, its got its stories (and I got a few) but it really opens up the buyers base when you accept paypal.
 
krazykuda said:
Paypal is now asking for my soc sec # so they can report my sales to uncle Sam so he can tax me at 25%.... :icon_fU:

Or they will limit me to just sending payments or friends and family only...
Click to expand...

Just finished reading this thread and I was wondering if any of you very active sellers have ever received a 1099-K from PayPal?
PayPal is required by the IRS to issue you one and send a copy to the IRS if your total amount of such transactions exceeds $20,000 and the aggregate number of such transactions exceeds 200 in a given tax year.
Understanding Your Form 1099-K | Internal Revenue Service

Also just beware that several states have a much lower annual dollar amount threshold that will generate a 1099-K

Here for example, the threshold in Illinois is only $1,000
https://www2.illinois.gov/rev/research/publications/bulletins/Documents/2020/FY2020-14.pdf

I have read that in Vermont, Massachusetts, Virginia, and Maryland it is $600 in gross payment volume from sales of goods or services in a single calendar year regardless of the number of transactions.

Getting a 1099-K will mean that the IRS will want you report and to pay tax on any "profit" from your sales.
Not the kind of thing you want to find in your mail box....
 
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I bet the 2A friendly states have a higher threshold.
?
Another reason to move...
Its becoming a no brainer to gtfo of the area Im in.
 
Princess Valiant said:
Lot of things here to think about.
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There was quite a big deal a few yrs ago about fraud w/on money orders , it seems they are the easiest to steal from , and personal checks ,falling into the wrong hands can bring you a lot of trouble .
I had a buyer pay me thru wells fargo once , they wouldn`t cash the check , said they had to confirm that he had the coin to cover it , took over a week to get the $$.
paypal only for me ! Been using it for over 11 yrs. , no problems , other than the dumbasses haven`t used money I had in my account to auto pay for a purchase I
made , called and told them over and over , still doesn`t do it .
 
The main issue with personal checks is that most financial institutions will credit your account, but the funds do not actually clear for up to 10 days.

If there is insufficient funds, that's when you get the returned check (and any associated fees).

If a buyer insists on paying with a check, I will allow it (unless I have a bad gut feeling), but I state that I will hold the item for the 10 day check clearing period.
 
First off, cash is king. USPS money order is fine. If personal check is OK with the correct wait time. I am in no hurry, as long as the money is good. I use PAYPAL for now. eBay wants my SS number to keep my sellers account. I am not giving that out anymore. So I will probably not be selling on eBay anymore. If PAYPAL wants it, I will cancel that also. Suits me fine as most of my interest is A Body Mopars anyway. As a lesson learned, elections are not popularity contests. They have consequences, many are hidden until the crooks are in power.
 
I have bought and sold many thousands of dollars thru p/p. Up here selling used parts is not considered income cause u bought them with money that u have already been taxed on. Even the new stuff I sell the tax has been paid. It I suppose like anything else that will come to an end. Used vehicals over $3000.00 are taxed every time their sold. If that used vehical gets sold 10 times, it’s taxed ten times. Kim
 
So far I haven’t found a better alternative to pay pal. Most of the stuff I sell goes to the USA. I can take a moneygram (not western union). Most ppl don’t want that hassle either. I can take an E transfer as long as it is in Canada. P/p has upped the exchange rate this year also. They have even started charging if u have to refund a payment. So if I take a p/p payment of $200.00 usd I get approximately $176.00 usd. Kim
 
One option that just occurred to me is a method that I have used to pay for RockAuto parts.

RockAuto used to have the option to go to a bank of your choosing and make a deposit in their account. They even gave you a deposit slip. I did this a couple of times and wondered if I could use this method myself, but never did look into it further.

I certainly wouldn’t keep money in the account but if you closed it or kept it empty would it work? Find a bank that is nation wide, open an account and then tell the buyer to deposit the funds in that account. Move the money out and maybe even close the account and then send the parts.

No idea if there are legal issues with the idea, like maybe it could be viewed as money laundering?

Maybe the account is a sub account of a main one? That way you aren’t completely opening and closing new accounts every time, more just a temp account?

Not sure how RockAuto did it, or even if they still give the option.

Just a thought.
 
YY1 said:
The main issue with personal checks is that most financial institutions will credit your account, but the funds do not actually clear for up to 10 days.

If there is insufficient funds, that's when you get the returned check (and any associated fees).

If a buyer insists on paying with a check, I will allow it (unless I have a bad gut feeling), but I state that I will hold the item for the 10 day check clearing period.
Click to expand...
\The other thing is, anyone that handles it can get ur bank account number !
 
as far as the 1099 from pp. i got 1. my sister-in-law does our taxes. she is having a rough time getting the pp amount i sold to go in . it is a hobby for me. the irs wants my business stuff. it ain't a business. my stuff is stuff i got over the years. they want receipts and cost and stuff. i don't have that ****. not sure how she is going to get it done. pp may be trouble than it is worth to some people. maybe call the irs to find out what to do. another thing is that if you try to make your monthly payment to them using your debt card, they wont take it on line unless you pay a 10.00 fee or if you call them to make a payment by phone, it costs you 2.9% plus 0.30 per transaction. they got you by the azz either way. my bank has bill pay and pp wont accept that.
 
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