Preferred safest payment method for site sellers

7 replies
Howdy again my favorite IM community in the world!

I'm about to close a website sale for a pretty decent chunk of cash. I've sold smaller sites for a couple hundred bucks here or there, so I wasn't overly concerned about the payment method, but this latest deal is my best performing residual income source and represents the largest part of my residual income stream; you can understand my caution.

I'm very interested in hearing feedback from experienced warriors on their preferred payment method.

I've considered escrow.com, and will use them if I have to, but I'd prefer this cash never hit my bank account, and don't really feel like paying them hundreds of dollars.

I've thought of paypal, but the nightmarish stories I've read are really putting me off from that option. I can cap the echeck fees at a very very low dollar amount, but if my account was frozen I'd freak. My paypal is usually full of small little 7-10 dollar transactions several times a day. If a payment with a bunch of zeros hit my account, would I go into review, or possibly even account freeze status? I'm also cautious because of paypal's history of siding with buyers, even scammers.

Are there any other options the buyer would also find acceptable? Ideally Western Union would be the best where I can get cash in my hand before transferring any of the site, but I doubt the buyer would find that to be a very acceptable option.

Looking forward to what you Warriors have experience being the most profitable and safest way to do business online with unknown buyers involving lots of cash. Thanks in advance.
#method #payment #preferred #safest #sellers #site
  • Profile picture of the author eedriyz
    Believe me, options doesn't get better than the ones you mentioned. if you need your money quickly (PayPal). if you want to avoid scammers (escrow)
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  • Profile picture of the author writeaway
    You have to use an escrow service. You don't want to lose all the hard work and time you put into your online property and brand.
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    • Profile picture of the author hsbinmarket
      u can try "Payza" or "payoneer".
      Signature

      Do not put the links to a malware-infected site back in your signature

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  • Profile picture of the author wmwoodie
    hi longblog,

    Yes, unfortunately I am a bit sad to tell you I have to agree with writeaway on this one. It is more of a pain I know, but it is just too risky if you don't. I could tell you a personal horror story I had with Paypal myself but it too long and you have probably heard similar stories before. For BIG money use an escrow. You won't be kicking yourself in the ass later. Good luck!
    ~ wmw
    Signature

    W M Wood

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    • Profile picture of the author longblog
      Originally Posted by wmwoodie View Post

      hi longblog,

      Yes, unfortunately I am a bit sad to tell you I have to agree with writeaway on this one. It is more of a pain I know, but it is just too risky if you don't. I could tell you a personal horror story I had with Paypal myself but it too long and you have probably heard similar stories before. For BIG money use an escrow. You won't be kicking yourself in the ass later. Good luck!
      ~ wmw
      OK, thank you for the feedback; you and writeaway. I'll use escrow.com. I'd hate to go to prison for killing a man who scams me over this site.
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  • Profile picture of the author DylanC
    The safest one is probably Escrow.com
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  • Profile picture of the author longblog
    I went with escrow.com, but this guy threw in a 7 day "inspection period" and then dragged the transfer out for 6 days before being processed. Seeing as how I have a 15 day period with my registrar to reclaim a transferred domain, I'm getting a little worried. I just put in a formal request for payment since it's been 7 days from the transaction date, even though the transfer of domain didn't actually take place until two days ago. Do I have any chance of getting paid, or will they draw it out till the full duration? BTW, the official inspection period on escrow.com was 1 day, but there was an attached contract which gave him 7 days.
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