playbackfactor
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posted on October 12, 2004 11:59:32 AM new
I posted this before and I got some great answers but never went through with a bank transfer in that case. I need to ask for help again regarding this.
I have a German customer who wants to do a bank transfer of about $70.00. They don't have PayPal in Germany they tell me and they want to do it this way.
This is what they've asked for:
"I ask you to send us the whole correct account number. We need also a number, which is called "IBAN-NR" and another, which is called "BIC-CODE"."
Now, I was told from the helpful members of this board that my bank may charge me a fee for this. My question is, is this safe to give out those numbers? I'm not familiar with what they are. I know that the account number shows up on checks so I'm not worried about that, but what are those other numbers?
Please help with this matter if you can. Thank you! Yves
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sanmar
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posted on October 12, 2004 12:04:15 PM new
Tell them to use BidPay. It is international & cost you nothing. I wouldn't give out my bank account # to an unkown buyer.
Life Is Too Short To Drink Bad Wine
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playbackfactor
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posted on October 12, 2004 12:47:54 PM new
Sanmar- thanks for that. I'm going to look into that right now. I appreciate that.
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vvalhalla
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posted on October 12, 2004 12:56:18 PM new
The numbers are on the front of every check you issue so I don't have a problem with that part. The want your routing number and account number. There are two sets of fees the fee your bank charges and the fee the intermediary bank charges. Bidpay is the best answer.
dd
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playbackfactor
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posted on October 12, 2004 01:04:00 PM new
I just set up with BidPay. How easy was that? That looks like a great system. Do you use it more than PayPal?? I like that idea. I've read the stories about ebay trying to ice sellers out who don't take PayPal. BidPay looks to be a nice alternative. Thanks again for your help! Yves
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eeditions2000
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posted on October 12, 2004 01:09:58 PM new
We use Bidpay as our "backup" online pay system for those who either don't have a Pay Pal account, or for those in countries where they don't accept Pay Pal (or for days like today when Pay Pal's system is down)...
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stopwhining
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posted on October 12, 2004 01:24:43 PM new
paypal is available in germany.
I know some ebay sellers in germany who accept paypal from US bidders.
Your bank will charge you a fee for incoming wire,5-8 dollars.
There may not be an intermediary bank fee if no intermeidiary bank is involved,usually a big money centre bank does not need any intermediary bank.
As to what he is asking for,you can ask your bank what numbers you should provide to someone using german wiretransfer.
For 70 dollars,i would think bidpay,paypal are more economical,unless he does not have a credit card.
-sig file -------Life is one big happy 'All You Can Eat' buffet .
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sanmar
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posted on October 12, 2004 02:27:33 PM new
stopwhining, I wasn't sure about P/P in Germany as I don't sell out of USA.
Life Is Too Short To Drink Bad Wine
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agitprop
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posted on October 12, 2004 07:48:28 PM new
IBAN and BIC are the international bank codes for inter and intra country bank transfers, similiar to US routing and account codes but with built in checksums as safeguards to prevent crediting to the wrong account. We use them all the time to get same day credits to our bank account from customers in Europe. No use to US bank customers as they aren't yet used in the US (same goes for metric measurements but that's another story). 
[ edited by agitprop on Oct 12, 2004 07:55 PM ]
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local
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posted on October 12, 2004 08:34:07 PM new
I checked & PayPal is available in Germany. I have had buyers in Germany send PayPal payments.
Personally, I would not accept a bank transfer, nor do I accept International money orders. My terms state International payments may be made via PayPal, BidPay or US Cash. I have had several international people choose to send US cash.
Good Luck.
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twig125silver
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posted on October 13, 2004 02:14:18 AM new
I sold a Rosenthal piece to someone in Germany, who paid through Paypal. The fees for just under $400 were almost $80! I wouldn't do THAT again!
terryann
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cashinyourcloset
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posted on October 13, 2004 04:02:17 AM new
Since you can't have an international (other than Canada) confirmed address, we never accept PP internationally. For that matter, we'll only ship to Canada via UPS when paid by PP, as USPS doesn't have tracking and online sig confirmation once you leave the US.
We do take wire transfers, which require only things found on the check: account name, routing #, account #, bank name and address. Sometimes people will want a SWIFT code (which can be derived from the bank name anyway, no loss of security).
BidPay works too.
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playbackfactor
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posted on October 13, 2004 07:02:33 AM new
Thanks so much for all of your help! It's all very helpful. The PayPal fees of $80.00 on $400.00 are ridiculous! 20%! That's completely unreasonable.
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fenix03
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posted on October 13, 2004 08:32:43 AM new
How did you figure $80 in fees?
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If it's really "common" sense, why do so few people actually have it?
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twig125silver
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posted on October 13, 2004 06:36:17 PM new
fenix- I was charged almost $80 on a not quite $400 sale to Germany a couple years ago on a payment through Paypal. One of the reasons I sell US only.
terryann
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stopwhining
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posted on October 14, 2004 06:17:04 AM new
foreign credit card transactions cost 1 % more.
if you paid 80 for a 400 dollars transaction ,this comes to 20%.
-sig file -------Life is one big happy 'All You Can Eat' buffet .
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dacreson
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posted on October 14, 2004 07:07:12 AM new
Hello
Since US cash is everywhere now days, the cheapest way would be USA cash in a registered letter. However I have accepted Bank Transfers before. I called the bank and got the charges and told buyer to add that amount. Their choice. Two years ago I was paid about 1000 US in Italian Lira. Seller knew charges for money exchange etc and it went well if you deal with a big bank like BA.
Remember you still have the auction item and total control until you ship.
Have a nice day
David
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fenix03
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posted on October 14, 2004 07:22:00 AM new
I'm baffled as to how you paid $80.00. Cross border fees are 3.9% + .30.
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If it's really "common" sense, why do so few people actually have it?
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twig125silver
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posted on October 14, 2004 03:46:40 PM new
This was a couple years ago, the german guy paid through Paypal, and Paypal deducted almost $80. It actually cost me less for a $6900 wire transfer from Japan! Go figure!
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