Best way to manage payment on high value items
I'm after a bit of advice. What is the best way to manage payment for higher value items, when the buyer does not want to pay until they have physically sighted and ready to take possession of the item and the seller wants the funds cleared in their bank account before allowing the buyer to depart with the item - ps its a $15k vehicle and I am the seller. What's the usual protocol?
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Callum Community Superuser
Hi there. Any particular reason you don't want to do cash? Used to be bank cheques was the way to go, but obviously can't do that now. Ping has a $10k limit so can't use that unless you want to break it into 2 payments.
Otherwise the only way is via bank transfer. It's worth asking which bank(s) your buyer has. You can often find you or another friend / family member you trust has the same bank so a transfer will be instant and you can confirm that at the point of sale. Even if different banks processing is a lot faster now. Can be as little as an hour.
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