2. Today, eBay is considered to be one of the most lucrative
auction sites available in the Internet.
3. 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 or
she will get paid once the item is sold. And so, here are the
different ways how a seller can be paid:
5. PayPal is the most common and convenient way of
sending and receiving money based on an eBay
transaction. Here, the payment for the sold item is sent
directly to the seller by means of an established bank
account or a credit card.
7. Sellers may choose this kind of option. However, the
drawback of using this kind of payment method is that the
seller still has to wait for a number of banking days before
the check gets cleared.
9. 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 the
seller. 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.
11. In this type of payment, the seller can be paid through a
bank-to-bank transaction. Here, the buyer will transfer
funds from his or her bank account to the seller's bank
account.
13. This is one of the recommended payment methods of
eBay. This is considered safe because the seller or the
buyer can track down the mailing address of the
concerned person.
15. This is strongly suggested for high-priced item
transactions. The escrow service guarantees full
protection 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.
16. However, sellers and buyers should take extra precautions
on dealing with escrow services. There are a lot of
counterfeit escrow services lurking on eBay these days. It's
best to check if the escrow service was approved by eBay.
18. Sellers on eBay may receive payments through cash.
However, this is a high-risk activity and offers no
guaranteed protection.
19. 8. Instant Cash Wire Transfers like western Union and
Money Grams
20. 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.