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You can accept payment through several methods.

1. Credit Cards-If you can afford the expense of obtaining a credit card authorization system, Credit Cards are an excellent way to accept payment. However, most buyers will not feel comfortable providing you with their credit card information if you do not have an established presence at the auction site. Your Feedback profile had better be good. Also there are several important security steps to remember when accepting credit card payments:

Make sure your buyers shipping address matches the billing address on the  credit card. Shipping to an address other than the billing address on record with the credit card company removes your right to payment. If your customer receives the shipment at another address, then calls the credit card company and denies receipt, you have no recourse. We’ve had this happen to us. Don’t let it happen to you.

Do not store your client’s credit card information on your computer unless you  are positive your system is secure from hackers.

Ask your buyer for the 3 or 4 digit CSV# on the back of the credit card. This  proves that the person is actually holding the card in his or her hand. Your authorization service might also request this number.

2. For convenience, the online payment systems of PayPal and others are  unparalleled. Payment is fast, inexpensive and widely accepted. It’s a really good system, until there’s a problem. Be sure to read the policies included in PayPal’s Terms of Service. In the end, you are responsible for ensuring that your buyer is creditable. So, follow their guidelines to the letter because you can be held accountable for accepting bad payments. E-bay and other sites have developed their own payment systems, which are gaining on PayPal in terms of popularity and should be considered as well.

3. Money Orders-Money orders, though slow because they rely on the mail system, are great. The payment is almost the same as cash.

4. Personal Checks-Some auction sellers do accept personal checks and have never been burned. Fresco’s does not. On the few occasions when we have accepted personal checks, we have informed the buyer that we were going to hold the check for 29 days to ensure it clears. That length of time is nearly intolerable for most buyers, as well as ourselves, as sellers, so checks are rarely used. Accepting personal checks are more hassle than they are worth.

5. Escrow-Most high priced item-sellers recommend accepting escrow when the expense is great. We’ve never accepted escrow for a payment. Be sure you understand the process thoroughly before using escrow.

6. E-mail your winning bidder immediately after the end of the auction. Include all the information your auction site sent you in the end of auction notification.

  Item name:             

               Item number:           

               Final price:           

               End date:              

               Number of bids:        

               Seller User ID:        

               Seller email:    

            You should also include:

1. Your deadline for receiving their payment and/or responding to this e-mail.

2. Shipping costs, if you know the person’s address already. If you do not know the address, request the address so that you can calculate the cost of shipping.

3. Payment options, including reiterating any policies you have regarding payment and your mailing address if accepting checks/money orders.

4. And finally, include any other of your information at the very end of the e-mail. Hyperlinks to your site and the feedback page for your account are also good ideas.

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