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I just sold a bike on ebay and the winning bidder sent me a message telling me that he will send me a token amount of money via paypal (just over 10% of the value of the bike) and then send the rest in cash by post! I have messaged him back asking why he would want to do this but he hasn't replied yet, nor has he sent any money via paypal. If it is a scam I cant see what he gets but I also can't see why he would want to pay like this. I definitely won't be sending the bike until I receive full payment but it would be nice to have another couple of opinion on what might be going on.
Probably because he doesn't get paid until the 31st, but has a couple o quid in PayPal, I'd guess.
how is cold hard cash a scam?
Possibly just seems an odd way to do business to me. And as I keep hearing about ebay scams and how they are getting more imaginative I am just a bit wary.
whats his feedback like?
He has a lot of feedback and all of it good, maybe I was a little quick to suspect foul play, thanks for putting my mind at ease.
I don't know what it is... However, like you, I suspect some sort of scam going on. As you say, just don't part with your bike until the money is actually received. And do not tolerate any 'stories' . I hope that it all goes well!
And I'd make sure I'd banked the money too. Watch out for a wad of forgeries!
It's called a deposit. and means they probably wont faff you around. and if they do you don't lose out.
Maybe his line of work provides him with a boat load of cash that doesn't exist, in the not declared front rather than forgery front. He might not have much cash in the bank to pay with Paypal but has a load in pictures of the queen.
If that was me however I'd have expected to ask the question before the auction finished, not assumed it was ok. if it arrives, get in banked before releasing the goods.
Banked before sending, make sure all of this is within e-bay mails and logged. Ask for a phone number and address and give them a call to confirm everything and log it in e-bay mails just in case.
Also if he does work in a cash rich, income tax poor non declarable distribution industry I'd suggest at least 2 sets of bombers, preferably 888's before causing trouble.
He gets your address and then calls around nicks your bike and cancels the original Paypal payment because you email him to say you've had to cancel the sale because someone has stolen the bike.
^Oooh, sharp thinking. The man's got a point.
Why would anyone put a large amount of cash in the post? Way too risky (for them) surely?
It possibly gives the buyer less protection I'd imagine
Request that cash is posted by Recorded Delivery, so no-one can claim it's gone missing / been sent but not received!
Also, confirm with your bank that the amount is FULLY cleared and available, and cheque / transfer cannot be bounced / cancelled / withdrawn.
10% for the address of someone with a premium bike.... priceless..
Also... feedback means nothing when the account has been hacked!!
Best way.... settle cash face to face at a 3rd party location.
Maybe his line of work provides him with a boat load of cash that doesn't exist, in the not declared front
Ask him if he can tarmac your drive.
I have done this before.
Buyer paid by deposit, he arrange to pay balance in cash on pick up. Where he arrived I cancelled the sale then refunded his deposit he paid full amount in cash. No problems.
Not everyone is a scammer.....
I've actually done the same via a BikeRadar advert. £100 paypal, then cash on collection so that I hadn't 'bought' the bike fully before inspection, but the seller would be fairly sure I'd show up.
I do of course now know where he lives (OK, I've forgotten now but you know what I mean) and I [i]could[/i] go round and nick his bikes, but they're not really my style!
Am I right in saying you can't hide your address from a winning bidder anyway? So if you give him an address to send the cash it won't be any more risky.
Some people just like to deal in cash.
I had an American cheque Fedex'd to me on an overnight courier service from the USA to pay for a vintage Turbo saddle which only cost about £50. I waited it to clear and sent it off, no problem. The overnight service to send the cheque cost him £30 as the price was on the package. Never understood why he did it that way but it was genuine.
Too much risk and faff from your perspective - it arrives and gets signed for but you really need to take it to the bank to make sure it's not forgery. If it is you then end up in some sort of dispute about if the money he sent was the money you took to the bank etc etc. Gets lost in post or you count it and its short - how do you prove it. And do you really want to deal with someone stupid enough to want to put large amounts of cash through the post?
I'd imagine a boat load of cash through the post was not one of your payment methods on the advert. Tell him to sort a bankers draft, bank transfer, personal cheque and wait to clear or put it all on paypal. i.e. make the hassle his not yours.
I wouldn't want to give out my address. If he has the cash there is no reason why he can't put the money in his own bank account then pay via paypal.
Request that cash is posted by Recorded Delivery, so no-one can claim it's gone missing / been sent but not received!
Yes as a parcel arriving and signed for is proof it was cash he sent and not some bits of newspaper.
Yes cash on collection would be fine but someone saying I'll post the cash out to you if you send me the bike.
I'd not be sending them my address.
If you're concerned about revealing your address, get him to send the cash to your work address?
If you have to ask "is this a scam" then it probably is.
Could be innocent, of course. But as others have said, there's plenty of ways it could go wrong. Even if it's genuine, sending a large amount of cash in the post is mental.
At the very least I'd demand a postal order rather than cash, but to be honest I'd be very tempted to tell them to jog on and sell to the next-highest bidder. "I'd like to buy this but wish to conduct business in an unusual manner which is outside of eBay / Paypal protection" is enough reason to walk away IMHO.
Get him to go into a branch of the bank and pay the cash into your account directly?
Is a good answer theotherjonv
Best answer yet.
People are so paranoid that even when someone pays cash they think its a scam.
If this scenario was described to me and I was asked to spot potential scams, I would say the most likely scam is that the seller says that the cash never arrived and the buyer loses out.
Tell him not to bother with the deposit, receive cash, bank cash, send bike.
Cash sales are the safest to protect yourself from scams.
Once you have all your cash secured in your account for a week or so send the goods.
Simple.
Who in their right mind would send a load of cash to a stranger and have no come back if they said it didn't arrive?
Pay it into your bank is a good option, or Paypal.
Just be wary of Paypal and its chargeback facility. Essentially a buyer can almost always ask Paypal for the money back and unless there is strong evidence against it, Paypal always finds in their favour. Whether or not you've withdrawn the cash from Paypal into your bank account makes no difference - Paypal can usually get the funds from you without asking.
Cash by post sounds like a stupid idea, but it's hard to see how you can lose out, providing that you wait for the money before sending the bike.
but it's hard to see how you can lose out,
Errrmmm! No really it's not.
but it's hard to see how you can lose out,
Errrmmm! No really it's not.
Cash in an envelope arrives.
Take it to the bank to check its genuine and pay it in.
Send bike.
If its not genuine, report it to the police and don't send the bike.
No chance of any loss as far as I can see.
No chance of any loss as far as I can see.
Not even in the previous posts suggesting how it's a scam?
Not even in the previous posts suggesting how it's a scam?
No.
He already has the address from winning the auction.
He doesn't need to do anything else if he wanted to nick the bike.
Unless I've missed some other reasonable explanation of a possible scam method. I can't see an issue.
Cash in an envelope arrives.
Take it to the bank to check its genuine and pay it in.
Send bike.If its not genuine, report it to the police and don't send the bike.
No chance of any loss as far as I can see.
But if it turns out to be a scam the scammer has your address and will be a bit unhappy if he/she gets a vista from the police.
Money laundering anyone?
He already has the address from winning the auction.
Does he? I genuinely don't know as I've never noticed seeing the sellers address in private sales.
Money Laundering was my first suspicion, or offloading fake notes.
Pay in 500 fakes and it'll be you that's committed the crime. Even worse is he hands over a wodge of fakes in person, and takes the bike before you can attempt to offload dodgy notes.
If someone wants to pay me cash, and I don't know them, we go to the cash machine and I watch and make sure there's no switch between the machine spitting out the notes and the notes entering my hand, and we do this in full view of cctv.
I know not everyone is a fraudster, but if I don't know them personally, then on eBay etc. I assume they all are (seller or buyer).
[b]Pay in 500 fakes and it'll be you that's committed the crime. [/B]Even worse is he hands over a wodge of fakes in person, and takes the bike before you can attempt to offload dodgy notes.
Is that just a guess/made up ?
Because last year I took £300 to the bank from a customer to pay them in and half of them were fake.
The bank kept them and I walked out after explaining I had been given them by a customer as payment.
No crimes were reported. And I went to the customer straight away who went to the cash point and got the amount owed out and paid me.
Does he? I genuinely don't know as I've never noticed seeing the sellers address in private sales.
I can see the sellers address on eBay for the shoes I bought yesterday.
So I would say that's pretty standard yes.
a bit unhappy if he/she gets a vista
[i]Everybody's[/i] unhappy if they get vista...
He has replied and said that it is just to save me ebay fees. He also says that he has sent the money (first class recorded) so I guess I just have to wait and see whether anything turns up, and in the mean time get some bombers (big ones 66s at least) just in case!
It will be interesting to hear the outcome of this.