Money transfer

[YouMa]

Some dude in canada wants to buy a bass off me can anyone please tell me the best way for him to send the money to me,is paypal any good,how do i withdraw the money from them?| i have made it clear i wont send the bass until the wonga is in my hand so what is the cheapest and fastest way of doing this.Can anyone help me cheers.

[escholl]

i've done the transatlantic paypal thing, no problems so far.

[squire5]

Paypal is the safest bet.It will convert his Canadian dollars to Sterling,and you will receive payment in Sterling.

[noelk27]

PayPal is one method- although it’s worth bearing in mind that PayPal uses it’s own currency conversation tables, which are always several points below high street rates, and will take a percentage of the amount transferred. If you’re not already registered with PayPal there’s a verification process that needs to be gone through, which, to register as a seller requires either credit card or bank details to be left on file with PayPal.

A wire transfer direct to your bank account is another option. This, however, would necessitate you giving your account details out to the person making the transfer- something many people are becoming less prepared to do.

Another option is money transfer businesses such as Western Union, Money Fax, and the Post Office’s service- the name of which escapes me. Standard transfer services from these companies are usually inexpensive- Western Union’s standard service to almost anywhere in the world being under £10 and taking between 24 and 48 hours to complete. There are also express services that are instantaneous- but cost considerably more. Most companies offer these services at retail outlets, online and by text. Retail is simplest, as there is no need to give any banking details, only an address.

Depending on the amount being transferred, fees many become an issue- which may make a service such as Western Union the most economic.

[OldGit]

If I was the buyer and you asked for a Western Union transfer I'd not do the deal. Way too easy for the "seller" to dissapear.

I'd suggest using Paypal and either accepting the costs as payment for the security or ask the buyer to pay them and risk loosing the sale.