PayPal or Money Order

[hoosiergirl]

Ok, all you DVC'ers who've rented out points--which is your preferred method of payment? I'm currently renting out points for the first time (and hopefully won't need to do so again for awhile!). We have never sold anything on the internet so we don't have a PayPal account for receiving monies and thought a money order would be easier. However, even though I have a copy of a money order made out to me from a "renter", he has yet to mail it to me! AAAAHHHH!! I even gave him the confirmation number and had the ressie put in his name--but for some reason he doesn't want to mail the money order until he sees something in writing from DVC. I'm now thinking that it might have been easier with PayPal. My DH doesn't want them to have access to our bank account, though, so that's why we opted for money order.

Opinions??

 

[drusba]

Have not used PayPal for rental. Have used it for other transactions. Works fine. However, it presents the dilemma that most face -- is it secure. As best it can be. Many I know will not purchase with credit card over internet or use things like PayPal because of concerns over security. Security is always a legitimate concern but what systems that exist now are pretty secure (although nothing will ever be completely foolproof). In any event, I do not criticize those that avoid monetary transactions through the internet but then many of us have decided the convenience outweighs the minimal risk.

As to your renter: it looks like you will just have to wait to get the written confirmation. You always have control over the ressie (meaning you can cancel it at any time) and thus if he does not send the money order when you get him the documentation, you can cancel the deal.

 

[hoosiergirl]

My feelings (and my DH's) exactly--the security factor of the internet makes using PayPal less than enticing. And you're right; I'll have to just wait it out. I figure that when I email him the scanned copy of the confirmation, he has no reason to refuse payment. I'm just frustrated because my terms said that I was to receive payment before changing the confirmation into his name. I changed the confirmation anyway--so he could feel better and contact Member Services--but I've heard nothing from him since he sent me a copy of the money order. Since the ressie isn't until the end of January, I can afford to wait and not be penalized with a holding account, but I'd like to rent out the points if he's going to refuse to pay!!

 

[YesDear]

I have used Paypal for about three years now and I would not worry at all about security. When you pay for something or receive payment from someone for something through paypal, you would never see any personal account information about the seller or the buyer.

You would send an account name and they would pay to your account. Paypal keeps your info on file. Paypal makes money two ways. First they hold your money for several days and make money on the float and if you want someone to pay you by credit card you pay a credit card fee, just like the merchant does when you pay by credit card.

As I said, I would use paypal over a money order anyday. The payment is fast and verified. You are not waiting for mail time and you know quickly if the person is serious or not. I have probably made 100 transactions with paypal without a single error. As a matter of fact, I paid for an item twice by mistake and the it took just several hours for the seller, paypal and me to correct the mistake with ease.

Of course you have to do what you feel comfortable with, but I for one would have no concern


YesDear

 

[GAIL HAYDEN]

I am with Yes dear on this one. Paypal is great!!!! The person sending you the money never sees any info about your bank account or your pay pal account. It goes into your paypal account and then you can just have it transferred into your bank account from Paypal.
Be aware, you can put a stop payment on a money order just as fast as a personal check.
My best advice, go out to www.paypal.com and read about it.
It is quick and easy to establish an account and it is free (except if you accept credit cards). The transfer to your bank account is free except if you want to have it done in a faster manner than the standard time (which is about 3-4 business days, in reality it has only taken 2 days to hit my account).

 

[Pluto4President]

For the few that I have rented out, I was mailed a personal check. Once it cleared, the deal was done and confirmations were sent. No rush...

 

[hoosiergirl]

I didn't realize that you could use PayPal if you DIDN'T accept credit cards. How do the renters pay PayPal then? Also, do they only transfer into your bank account or do they have an option where you can have them mail you a check?

If you don't mail the confirmation until you receive payment, Pluto4President--and it sounds like this is the norm--then I've been generous by giving him the confirmation number already! I guess right now I'll see if anyone else wants the points. Until he sends the check, I don't feel that this transaction is secure--especially since he's not replied to any emails for 4 days!!

 

[GAIL HAYDEN]

I didn't realize that you could use PayPal if you DIDN'T accept credit cards. How do the renters pay PayPal then? Also, do they only transfer into your bank account or do they have an option where you can have them mail you a check?

Hi,
Yes, you can have it removed from your checking account as an "instant" check. I believe they will mail you a check, but, that does involve a charge. You have to register your bank account anyway, so, why not just have pay pal deposit it? Much quicker.
You can also get a debit card where you can remove the funds, and I believe that also incurs a charge. There are many options and I do suggest you check it out. I purchased Cirque tickets from a person here using pay pal and it was incredibly fast and easy for both of us.

 

[Laurabearz]

Try not to worry..... even though he has the confirmation number, you can still cancel if he fails to pay.... I am sure he also feels a bit insecure about the whole renting thing also... it does involve trust on both ends.... but you hold the cards, so less worry on your part esp, since you have lots of time to cancel with no penalty on your part.....

As for not replying to emails, who knows how often he checks them....... be patient.....

Hang in there..... Most transactions go thru without a hitch.....

 

[ClarabelleCow]

I have been shopping over the internet for about 3 years ago and have never had a problem, paypal and billpay are the best, not problems, just remember you get charged a small fee if your customer pays by credit card. I didn't realize that when I rented points, so I more than happily sent the owner of the points the difference.

 

[hoosiergirl]

Thanks so much, everyone!

I know I shouldn't worry so much--it's just that this is the second person that we've thought had rented the points. The first didn't go so far as purchase the money order, though. Also, he had corresponded with me daily until his request for the confirmation letter. That's what made me start worrying.

Hanging in there.......

 

[Pluto4President]

Originally posted by hoosiergirl
I didn't realize that you could use PayPal if you DIDN'T accept credit cards. How do the renters pay PayPal then? Also, do they only transfer into your bank account or do they have an option where you can have them mail you a check?

If you don't mail the confirmation until you receive payment, Pluto4President--and it sounds like this is the norm--then I've been generous by giving him the confirmation number already! I guess right now I'll see if anyone else wants the points. Until he sends the check, I don't feel that this transaction is secure--especially since he's not replied to any emails for 4 days!!

I actually faxed them a copy of the ressie once I received it, usually by that time though I had the check. I didn't mail the original until the money cleared. As said, you have the upper hand...

 

[jctwizzer]

Have only made one transaction similar to yours; but I paid half when the deal was made/ and paid the other half when the reservation was confirmed....it worked well for both sides...good luck

 

[hoosiergirl]

jctwizzer, my terms were 1/2 within 48 hours of making reservation, the other 1/2 within 60 days of arrival--quite fair terms, I thought. The problem--I haven't received ANYTHING yet! However, I just checked my email and the "renter" said he'd send the money order registered mail on Monday. Maybe he's read these boards.... I'm feeling much better now....

 

[zurgswife]

glad to hear...things seem to be less stressful for you.....Though remember you do have the cards....

 

[EROS]

I swear by PayPal......you won't be disappointed . I wouldn't worry about giving them your checking account number; it's on every one of your checks for all to see anyway ....