How to exchange money re:point rental

[luckytso]

Hi,

I am in the process of buying a BWV contract which has points that I will need to rent out.

I read that some people use PayPal, some accept personal checks. Can you tell me what is the common way of exchanging the money as far as the method of payment, and time of payment.

Thanks so much.

 

[gonzalj1]

Having not rented points I can't say what the preferred method of payment might be. I can say that I have done quite a few transactions over the web (Ebay and various auction site) and PayPal is my preferred method of payment. It's secure and almost flawless from the perspective of receiving payment. They do charge a small fee to receive payments just so you are aware.

Other than PayPal I would say cashier's check or money order. I would try to avoid a method of payment that is not guaranteed on arrival. This was you can avod someone canceling a check on you. (Unlikely but still possible.)

Just my 2 cents.

 

[drtpaper]

I had the same problem. I just got done renting out small numbers of points to two different people. I went with PayPal with one person and check with the other person. Each has its advantages. Paypal costs money if the person uses a credit card, so the buyer should pay extra (2.9%) to cover the the charge. The key is setting up the contract and payment terms. Since you have the points, you have the control since you can cancel the reservation at any time.