(I) eBay payment method 1: PayPal
PayPal is the most commonly used online payment method for eBay members when conducting cross-border transactions. It is a company that provides online payment mechanisms. Buyers can pay sellers in real time by swiping a credit card or using the balance in their PayPal account through PayPal, thus solving the problem of cross-border transactions.
(II) Money Order
Foreign buyers will purchase a money order from a local bank and mail it to the seller. When the seller takes the money order to the bank for exchange, the bank will collect the seller’s money order. After the bank in the seller’s location collects the money from the foreign bank that issued the money order, the amount will be deposited into the seller’s bank account.
Note: (1) Bank handling fees and wire transfer fees must be paid when exchanging money orders;
(2) The collection time varies from country to country. For example, a money order issued by a US bank takes about one month.
If the seller accepts payment by money order, the seller must provide the buyer with his/her name in English (this name is the name that the buyer must fill in when purchasing the money order) and the address in English (the shipping address for the buyer to send the money order).
The buyer may also purchase a money order for the seller through the Western Union Auction Payments website. Western Union is a company that allows buyers to purchase money orders online to pay for items purchased on auction websites. After the buyer purchases the money order, Western Union Auction Payments will send a notification letter to the seller, and the money order will not be sent until the seller confirms that the address is correct. When the money order is sent, Western Union Auction Payments will also send a confirmation letter to both the buyer and the seller.
If the seller accepts this payment method, when selecting the payment method in the sales form, please check the “Other Online Payment Services” option and indicate it in the “Payment Instructions” or “Item Description” fields.
(III) Cashier’s Check
Cashier’s Check is the same as the bill of exchange. When the seller wants to exchange, the bank will first collect the seller’s cashier’s check, and then remit the amount to the seller’s account after the bank in the seller’s location collects the payment from the foreign bank that issued the cashier’s check. Please note that the seller needs to pay the bank handling fee and wire transfer fee to exchange the cashier’s check.
(IV) Personal Check
Personal Check is a very popular payment method in foreign countries. The exchange method of personal checks is the same as that of bank cashier’s checks, and bank handling fees and wire transfer fees are also required. However, because personal checks are issued by individuals, there may be problems with bounced checks, and the risk is higher. If the seller is willing to accept personal checks as a payment method, he or she must decide whether to wait until the payment is received (the exchange has been completed) before sending the items.
(V) Credit Card
Some sellers also provide credit card payment methods. If the buyer chooses to pay in this way, he or she needs to disclose personal credit card information to the seller. The advantage of credit card payment is that the payment is recorded; buyers can pay in real time, which is convenient and fast.