accepting cheques

Anthillmob

i just got a question from someone intersted in bidding would i accept a cheque.

am i right in my reply that i will but wont send the item until payment has cleared.

if a cheque bounces who pays the bounce fee? is it me or the buyer?

Sugar_Coated_Owl

Yeah, you don't send the item until the cheque has cleared.

If it bounces I think you both pay a fee (?) The buyer definately does but I believe you would as well.

Anthillmob

any ideas what fees are?

ive just been lucky and got myself out of debt enough to get myself a proper bank account and not a "basic" one like i did have and dont want to look bad with the bank.

angelcake

also.....depends how much it is for, if it is under they would be stupid for it to bounce because of the £10 charge!

I haven't had a cheque bounce yet (Touch wood) and always accept it as a method of paying.

k8vin

normally £15 to £30 depends on which bank?

Sugar_Coated_Owl

I think my bank charges £30 for a bounced cheque. I never really like accepting cheques-too much hassle imo with the waiting for the cheque to clear or bounce.

dena007

Personal customers are not usually charged for returned cheques inwards-Business customers may be, I am.

katchambers

Personally I have a policy of no cheques. They are too much hassle and slow the process down, as well as the risk of bouncing. I don't see whats hard about getting a postal order, why don't you suggest that to the buyer. That way there is no risk and you can send the item as soon as you receive the postal order.

Kat

AuctionCUT

Cheques do slow down the progress - but you don't want to do anything to put off potential bidders. After all they might just drive the auction price higher for you.

Although more hassle, I know a cheque is a lot more secure than paypal. Just ensure it clears first.

soolin

Cheques only clear for 'funds' on day 4 or whatever, they don't clear against fraud or error for many months.

I have had several cheques reversed on me well after a week or two, one was even reversed for words and figures differ, after nearly 2 months.

However this is rare, and whilst I prefer paypal as it is so much quicker and hassle free for me, I do still take cheques.

Soo

elizafraser

I wouldn't entertain Paypal (have tried it, didn't like it). If a seller won't accept a cheque from me I won't purchase from them. Although I'm not a regular seller, just have a general clear out now and again, I've sold quite a few items myself over past three years. I've always been happy to take a cheque and never had any problems with a bouncy one (touch wood). I tend to look at a buyer's feedback, if they have an excellent record I would post before cheque clearance, if I was in any doubt I would post after cheque had cleared.

I made one purchase this week and the kind gentleman posted the item to me the same day I posted him the cheque. :T I told him he was far too trusting!