Method of Payment
 

Hello,
I'm new to the forum and unfortunately just had to return a watch to a vendor on chrono24 due to a verification I went through with a local dealer and feedback from members here. Anyway, i'm now on the lookout for a watch but i have a question regarding the method of payment. I tried searching as well as reading the sticky on the classified section, but I don't see anywhere that states what the preferred method of payment should be. I have read many posts about avoiding wire transfers and the horrors that go along with it when a deal goes bad. However, so many of the ads I read in the classifieds state they want a wire transfer. I've always used paypal when making transactions, is there a reason why this shouldn't be used? As I understand it, wire transfers offer zero protection for a buyer.

It basically boils down to PP is better for the buyer, Wire is better for the seller. End of the day, only pay via a method you're comfortable with to a buyer you trust. Both methods can be used for fraud.

There is no preferred method of payment.

It is whatever a seller specifies. If you are not comfortable then find another seller with another watch.

Really ?? Sure if you feel good about the seller you have never met send him 5 grand or a lot more on faith. Sorry not me.Always protect yourself.At the very least use AMX. NO wire transfers. I bought a timepiece for $54,000 from a reputable seller and he made an honest mistake and didn’t send the solid back and first told me it would be several weeks before he could get it to me. I told him I felt obligated to see about holding out $5,000 til I received the back or I could dispute the charge with AmX and return the piece for a refund -what a surprise! He found the missing component w/i 2 days! I don’t care if the seller is the pope, I will ALWAYS protect myself. I hope you will too. Virtually every on of the scams you read about on this forum could have be easily resolved if only the buyer had used PayPal or AMX ( or both!) for payment.

As above, it's always a good idea to CYA as a buyer. That means using a CC and/or PayPal "goods and services" whenever possible.

However, it is also a good idea to CYA as a seller, so you will find many that do not accept CC and/or PayPal as payment methods.

There are risks on both sides of any transaction.


Also just an FYI about using PayPal for purchases:

They will NOT cover purchases made using the "friends and family" option.
They will NOT cover purchases for an item picked up/delivered in person.
They will NOT cover purchases for an item that is shipped without any sort of tracking number.

:cheers:

I would NEVER send a wire for a watch, even to the most popular seller on TRF (no offense to anyone lol). That is just silliness. The buyer needs some protection.

What is AMX?

Sorry New here.

Welcome to TRF! It’s American Express credit card:-)

Wiring money is just shady. Who cares about saving a few dollars. I’d never do it. No point. Commerce works just fine with credit cards and consumer protection.