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Best way to accept payment

Old 06-10-2015, 05:31 AM
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Default Best way to accept payment

So last night I received an offer on my boat that I will likely accept. What is the preferred way to accept payment? My previous boats have all been inexpensive enough that all the transactions were done in $100 bills. Thanks.
Old 06-10-2015, 05:35 AM
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I like Benjamin's as long as I have ccw
Old 06-10-2015, 05:50 AM
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Cash

Wire transfer

In that order.

I have sold more than one big ticket item in the banks parking lot while the buyer got the cash.
Old 06-10-2015, 05:52 AM
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Cash is still king.
Old 06-10-2015, 06:02 AM
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Wire transfer or a certified bank check drawn with me present.
Cash is ok up to $5k or so, but is impractical after that, and you're exposed to counterfeiting.
Old 06-10-2015, 08:19 AM
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Have him meet you at your bank with the cash. Go inside and have a teller run it thru their machine then deposit in your bank.
Old 06-10-2015, 08:40 AM
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X2

Wire transfer or a certified bank check drawn with me present.
Cash is ok up to $5k or so, but is impractical after that, and you're exposed to counterfeiting.
Old 06-10-2015, 08:54 AM
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bank to bank wire transfer is 100% safe for every body; especially if both of you can't meet at a bank.

MO and CC are not safe because they can be counterfeited.

Cash is good if you meet at a bank. If meeting someplace else, do NOT accept new bills. Used bills are very good proof that they aren't fake.
Old 06-10-2015, 08:58 AM
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Bitcoin
Old 06-10-2015, 09:06 AM
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I went through this back in '09 and it drove me nuts. Everybody blurts out cash as the answer. I don't know. Do you want to carry around $35,000 in cash? I don't. Can't carry a gun with you as you're walking through the bank parking lot on your way to deposit the cash. Pretty sure guns in banks are a big no no. Plus, as someone else pointed out, how do you check for counterfeit? Was just in a store the other night and the cashier marked each $20 I handed her with some type of pen I guess was used to detect a counterfeit bill.

Wire transfer seems the safest. Only problem with that is availability / hours. Wouldn't it have to be done during normal business hours? Could you do a wire transfer on a Saturday, or do you have to take a day off to transfer your boat to the buyer?

I got so frustrated trying to sort out the safest and most convenient way to do the transaction that I ended up selling my boat through a local broker. Who turned out to be a complete jag off btw, but that's a different topic.
Old 06-10-2015, 10:39 AM
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Originally Posted by dobiedude View Post
Have him meet you at your bank with the cash. Go inside and have a teller run it thru their machine then deposit in your bank.
x2
Old 06-10-2015, 11:47 AM
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I had a cashier at a store yesterday mark my $5 bill to see if it was real. If It's gotten that bad I would want a wire transfer.
Old 06-10-2015, 12:07 PM
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cash is always best but definitely watch out for fake bills. If you cant take payment in cash I would try for PayPal . If it was me and the buyer is going to pay cash I would have the transaction take place at the bank and have them check the cash.
Old 06-10-2015, 03:41 PM
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I ask the same question here a few weeks ago, I went with meeting him at my bank (he used the same bank) and just deposited it into my account. I honestly didn't want to use that account but it seemed like the safest option.

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