Today, eBay is considered to be one of the most lucrative auction sites available in the Internet.
However, selling on eBay is not that easy, and the very first thing a seller should do is to find the ways on how he orshe will get paid once the item is sold. And so, here are the different ways how a seller can be paid:
PayPal is the most common and convenient way of sending and receiving money based on an eBaytransaction. Here, the payment for the sold item is sent directly to the seller by means of an established bank account or a credit card.
Sellers must have a merchant account to be able to accept payments from its buyers through credit cards. This is applicable only if the buyer will be paying directly to theseller. If the buyer still wants to use credit card but wants a safer transaction, he or she may opt to pay the seller through PayPal with the use of the credit card.
This is strongly suggested for high-priced item transactions. The escrow service guarantees fullprotection while the transaction is not yet closed. Through this service, the seller has to wait for the confirmation that the buyer had received the product before receiving payment.
However, sellers and buyers should take extra precautions on dealing with escrow services. There are a lot ofcounterfeit escrow services lurking on eBay these days. Its best to check if the escrow service was approved by eBay.
Sellers on eBay may receive payments through cash. However, this is a high-risk activity and offers no guaranteed protection.
8. Instant Cash Wire Transfers like western Union and Money Grams
Sellers may opt for this type of payment method. But, they should keep in mind eBay is strongly against this mode of payment and that insisting this to the buyer may result to suspension or termination of account.
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