Notices

Best way to accept payment

Old 06-10-2015, 05:31 AM
  #1  
Senior Member
Thread Starter
 
Join Date: Aug 2005
Location: Wilmington, NC
Posts: 4,447
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.
beber is offline  
Old 06-10-2015, 05:35 AM
  #2  
Admirals Club Admiral's Club Member
 
Join Date: Aug 2009
Location: Beaufort NC
Posts: 1,005
Default

I like Benjamin's as long as I have ccw
pokeytwins is offline  
Old 06-10-2015, 05:50 AM
  #3  
Senior Member
 
Join Date: Oct 2007
Posts: 9,807
Default

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.
Jersus is offline  
Old 06-10-2015, 05:52 AM
  #4  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Aug 2001
Location: West Carolina
Posts: 21,936
Default

Cash is still king.
Shag is online now  
Old 06-10-2015, 06:02 AM
  #5  
Senior MemberCaptains Club Member
 
Join Date: Jan 2003
Location: Charleston, SC
Posts: 2,935
Default

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.
coastboater is offline  
Old 06-10-2015, 08:19 AM
  #6  
Junior Member
 
Join Date: Jul 2013
Posts: 23
Default

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.
dobiedude is offline  
Old 06-10-2015, 08:40 AM
  #7  
Admirals Club  Admiral's Club Member
 
StClairFlats's Avatar
 
Join Date: Jul 2010
Posts: 1,414
Default

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.
StClairFlats is offline  
Old 06-10-2015, 08:54 AM
  #8  
Senior MemberCaptains Club Member
 
Join Date: Dec 2007
Posts: 15,655
Default

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.
bamaboy473 is online now  
Old 06-10-2015, 08:58 AM
  #9  
Senior Member
 
Join Date: Dec 2010
Location: Satellite Beach, FL
Posts: 10,592
Default

Bitcoin
Danny33486 is online now  
Old 06-10-2015, 09:06 AM
  #10  
Senior MemberCaptains Club Member
 
Join Date: Jan 2004
Location: Pittsburgh, Pennsyltucky
Posts: 7,138
Default

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.
Brad1 is offline  
Old 06-10-2015, 10:39 AM
  #11  
Senior MemberCaptains Club Member
 
Join Date: Jun 2002
Location: Long Island,NY
Posts: 11,972
Default

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
SeaJay is offline  
Old 06-10-2015, 11:47 AM
  #12  
Admirals Club Admiral's Club Member
 
Join Date: May 2008
Location: Philadelphia
Posts: 5,096
Default

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.
bjm9818 is online now  
Old 06-10-2015, 12:07 PM
  #13  
Admirals Club Admiral's Club Member
 
Join Date: Jun 2015
Posts: 1,747
Default

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.
boating blind is offline  
Old 06-10-2015, 03:41 PM
  #14  
Senior Member
 
Join Date: Nov 2013
Posts: 3,289
Default

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.
willie g is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Thread Tools
Search this Thread