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Selling misc junk
Old 04-27-2020, 08:06 AM   #1
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Selling misc junk

We live somewhat rural and are very unsophisticated. I've been slowly selling misc things that are worth a small amount but hate to just throw them in the trash. I sold an auto part cpl months ago and the guy talked me into using paypal (first time selling through paypal). It did not go good. Only $300 and cost me several fees that wasn't supposed to and getting the $ was ridiculous with many phone calls so I said never paypal again. So I'm selling another auto part today $2000 and everyone told me to just have the individual wire the $ into my account which I gave him my info it's supposed to happen this morn. I called my bank just to let them know and dang, you'd thought I committed a national crime! After being whipped for 15min I told them to transfer the bulk $ out of the account into another acct, where I then received another 30 lashes from DW because she has $ going into and out of that account for bills. Such a pia. I rarely sell things but on the verge of just throwing it in the trash in the future. Anyone else use different safe methods? I also find it amazing that the bank is so worried about ppl hacking our account (a good thing) but that I, a joint owner of the accounts have to get congressional approval to do anything with $ in the accounts, ( a very bad, getting old thing).
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Old 04-27-2020, 08:32 AM   #2
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If you're going to sell stuff informally on a regular basis, open up a small, separate checking account that you can use to deposit sales proceeds from Paypal, wire transfers, etc. That way you don't risk having your main account drained by some scammer.

As for Paypal, yes, its fees are high, but they do offer buyers and sellers some protection from bad transactions. I don't know why you had trouble getting your money through Paypal -- on those occasions when I've used it, I shipped the item when the money landed in my account.
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Old 04-27-2020, 09:06 AM   #3
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OP - Open a separate checking account, preferably at a different bank if you can find one that does not charge a monthly fee.
Why don't you have people pay you by a personal check, no fees there.

Also, this will remove the problem created since you don't seem to discuss the flow of money with your Wife in your joint checking account which is used to pay bills.
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Old 04-27-2020, 09:07 AM   #4
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Quote:
Originally Posted by Hyper View Post
I sold an auto part cpl months ago and the guy talked me into using paypal (first time selling through paypal). It did not go good. Only $300 and cost me several fees that wasn't supposed to and getting the $ was ridiculous with many phone calls so I said never paypal again.
PayPal is usually a safe payment method, and is essentially the default when selling things on Ebay. They do charge a 2.9%+30 cents seller fee, but that's about average for any payment service. Even credit card transactions have this fee, the company just absorbs it into the cost of the product so you don't see it. That's why some places have minimum purchases when using a credit card.

I try not to keep any money in my PayPal account. Once a sale is complete, I transfer the money to my checking account. If someone should hack into my PayPal account, they won't get much.

I don't understand the part about many phone calls. You post an item for sale, someone says they'll buy it, you ship it once payment arrives. No payment, no sale. Whoever pays first gets it. If a buyer is slow to pay, I just assume they don't want the item and move on. I'm not going to waste my time calling people back. If they want it, they'll pay for it.

You do have to be consider the various fees when selling on Ebay though. There is a seller fee for selling on Ebay, then they take a percentage of the sale, then PayPal has their seller fee, then you have shipping costs. I usually don't bother unless an item is worth at least $50 or so.

I've never used them, but there are other payment methods like Venmo or Zelle that might work better for you.
https://www.nerdwallet.com/blog/bank...ey-individual/

Quote:
Originally Posted by Hyper View Post
So I'm selling another auto part today $2000 and everyone told me to just have the individual wire the $ into my account which I gave him my info it's supposed to happen this morn. I called my bank just to let them know and dang, you'd thought I committed a national crime! After being whipped for 15min I told them to transfer the bulk $ out of the account into another acct, where I then received another 30 lashes from DW because she has $ going into and out of that account for bills.
I would never give out my bank account information to anyone. If I was even going to consider that I would open a dedicated checking account that was only used for that purpose, then immediately transfer any money that comes in to my main account.

Quote:
Originally Posted by Hyper View Post
Such a pia. I rarely sell things but on the verge of just throwing it in the trash in the future.
Yeah, selling used items can be a pain. I don't do it a lot, but occasionally sell items in person using Craigslist (Cash only, no exceptions), or on Ebay (if the value minus fees is worth it). If I can't earn a profit of at least $25 or so after fees, I just donate it (or throw it out if it's worn out or of little use to anyone else).

COVID is complicating things right now. I have boxes of stuff to take to Goodwill, but their donation centers are currently closed due to COVID. I have some larger items to sell that would cost too much to ship, but don't want to do in person right now. So, I just need to hang on to this stuff until the crisis is over.
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Old 04-27-2020, 09:59 AM   #5
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I rarely sell anything but have sold 3 things this yr to about $3300 so hate to just throw the stuff away. Another account is a minimum and get one direct deposit mth which we only have one dd and is sizeable. I must have done something wrong on paypal because they received the $ then made the tracking show to the buyer and have buyer show receipt? Then paypal said it would be 21 days for me to receive the $. Paypal couldn't send it to my account after numerous trys (on their side) so frustrated trying to understand India telecallers, I had them transfer it to debit which cost another 1.5%. There was no dispute from the buyer. More the hassle of it than the actual $. LOL as far as discussing bill payments with DW, all I need to know is the bills are paid! Glad I asked this Q. We're down to cash or it's going in the trash in the future! Thank you all
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Old 04-27-2020, 12:07 PM   #6
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There are other electronic options.

Zelle transactions have no fees and the money goes directly into your bank account instantly. You just need to have an account at one of the over 700 financial institutions in their consortium. If your buyer has an account at some other bank that's not part of the consortium, then they can download the app, link their debit card and send you money that way. See zellepay.com or https://en.wikipedia.org/wiki/Zelle_(payment_service) for more info.

Venmo is owned by Paypal, but it's free to use when the buyer pays you directly. You do have to make a selection in the app to transfer the Venmo balance into your checking account and that takes a couple of days to complete.

Anyone with a Gmail account can send you money via Google Pay. They just have to create a new email at gmail.com and click on the $ icon in the footer of the message. As the recipient, you have to have Google Pay setup and linked to your bank account in order to receive the money. This also works from the Google Pay app on their smart phone. I'd guess Apple Pay can do something similar.
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Old 04-27-2020, 12:10 PM   #7
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Originally Posted by cathy63 View Post
. I'd guess Apple Pay can do something similar.
Yes.
Send and receive money with Apple Pay
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Old 04-27-2020, 02:14 PM   #8
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I find Venmo is easiest.
Zelle also works for me.
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Old 04-27-2020, 02:24 PM   #9
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Originally Posted by Mr._Graybeard View Post
As for Paypal, yes, its fees are high, but they do offer buyers and sellers some protection from bad transactions.
While true for the initial transaction, IME PayPal will always favor the Buyer over the Seller. A dishonest Buyer can screw over a Seller at will.
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Old 04-27-2020, 06:50 PM   #10
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I always use Zelle. I would never give an individual my bank account data particularly for a commercial transaction (nor my SS number, for that matter).
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Old 04-28-2020, 06:09 AM   #11
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I have lived in very rural areas and never had a problem selling on Craigslist (cash only). People will sometimes drive 40 miles to buy a $20 item. Have sold boats and autos on Craigslist as well for several $1000 and still required cash.
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Old 04-28-2020, 07:30 AM   #12
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I've sold a bunch of stuff recently but only locally. People show up with cash or they e-transfer the money when they get here. I just turned down an offer for some speakers because I would have had to pack and ship them...too much hassle and potential for problems.
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Old 04-28-2020, 10:47 AM   #13
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With craigslist, I meet them at a neutral location and insist on cash. That will eliminate many buyers but it is very clean.
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Old 04-28-2020, 01:37 PM   #14
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I am not doing it now (because of the virus) but in times past I have sold a lot of things on my local Next-door website including a car. Because people on next door are local and somewhat vetted I have felt comfortable having them come to my house or going to theirs (pre virus). I always get cash--including for the car and it was $6000. We did the car deal at the local license plate place. If you do not have a Next-door in your area you can start one, I started one for the area where I spend the summer and now it is gong great.
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Old 04-29-2020, 05:32 AM   #15
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Some things you can get sold at an auction house. Their fees can be high, but you stand a good chance of getting rid of the stuff and getting some money in return.
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Old 04-29-2020, 06:06 AM   #16
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I have sold many items on eBay since I retired. It took some effort to get it set up and learn how to mail things properly, but it has paid off and keeps me busy on my own terms. It is so nice to get rid of unwanted items.
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Old 04-29-2020, 08:10 AM   #17
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try facebook marketplace or craigslist. I always say cash or cashiers check, no holds. usually works good.
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Old 04-29-2020, 09:32 AM   #18
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I have asked for postal money orders as payment in the past.
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Old 04-29-2020, 05:19 PM   #19
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Zelle is the best electronic payment solution. Immediate and free. Just need email or phone number that is recorded with the bank.
Venmo is fine also but takes a couple of days to transfer money to your account with no fees. (You can transfer immediately for a fee.)
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Selling misc junk
Old 04-29-2020, 10:41 PM   #20
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Selling misc junk

My husband sells random things he finds or people give him on Craigslist. . He gives the cash to a cat rescue. I can attest that people buy the strangest things and drive up to 100 miles for them. He only takes cash.
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