Payment Methods:
Learn about different payment types
Before purchasing an item, you should determine which payment methods the seller accepts, and which payment methods you feel comfortable using as some payment methods offer more protection than others.
Read the payment methods and details on the item page and then consider the following criteria prior to selecting your payment method.
- Is the method of payment you are considering secure?
- Is the method of payment you are considering convenient for you?
- Does the method of payment you are considering have an option for recourse (is it traceable / refundable) should a dispute arise in due course?
Bank Deposit
Funds are transferred directly into the seller's bank account.
Advantages:
- Deposits may be conveniently paid into the seller's bank account either in person via a bank branch deposit or online via internet banking.
- Immediate and convenient.
- Transfers can be fee free most cases. Check transaction fees with the bank.
- Receipt of payment (proof of payment) can easily be retained through the bank branch or through internet banking.
Disadvantages:
- Payments are extremely difficult to recover in cases of fraud.
Paymate
Paymate is an Australian company that allows online payments to be sent and accepted. Payments can be made by credit card or transferred from a bank account.
Advantages:
- Convenient - Payments can be made instantly after you make the purchase.
- Payments are deposited directly into the sellers bank account.
- Pay using an email address anytime, anywhere.
- Financial and personal details held securely by Paymate.
- Receipt of payment (proof of payment) can easily be obtained through Paymate.
- Automatic payment tracking.
- Buyer Protection may be offered if certain criteria has been met.
Disadvantages:
- Paymate processing fees can apply to both parties.
PayPal
PayPal allows online payments to be sent and accepted. Payments can be made by credit card or transferred from a bank account.
Advantages:
- Immediate and convenient - Payments can be made instantly after you make the purchase.
- Pay using an email address anytime, anywhere.
- Receipt of payment (proof of payment) can easily be obtained through PayPal.
- Automatic payment tracking.
- Buyer Protection may be offered if certain criteria has been met.
Disadvantages:
- PayPal processing fees can apply to the seller.
Credit Card
Secure and efficient method of paying for online purchases, where seller has a credit card merchant account.
Advantages:
- Immediate and convenient.
- Traceable.
- Receipt of payment (proof of payment) can easily be obtained from credit card statement.
- Buyer Protection may be offered if certain criteria has been met.
Cash On Delivery (C.O.D)
Cash On Delivery (C.O.D) allows for safe and reliable trading. Sellers take the item to a Post Office and complete a lodgement slip. The item is then delivered to the closest Post Office for the recipient to collect. The recipient is then informed there is an article awaiting their collection. Australia Post collect the payment from the buyer and will return any payments due to the seller by money order.
Advantages:
- Easy and safe to use.
- FREE Extra Cover for items to the value of up to $100 with C.O.D. For items valued from $100 to $5000, addition Extra Cover may easily be purchased.
- Seller can rely on Australia Post to efficiently finalise the transaction.
- Buyer is immediately informed when their article is ready for collection.
Disadvantages:
- Postage fees can apply to both parties.
- If the buyer does not follow through with their purchase, the seller will need to pay for the return postage of the article.
- Delays of receipt of payment may be experienced by the seller, depending on the buyer and how timely their pick-up is.
Personal Cheques and Bank Cheques
Personal cheques and bank cheques can be sent to the seller via postage, concealed in an envelope. Personal cheques can be issued through the buyer's personal or business cheque account using their cheque book. Bank cheques can be issued over the counter at most banks.
Advantages:
- Receipt of payment (proof of payment) can easily be retained through the tear-off portion attached to the Bank cheque or the personal or business cheque book butt.
- Can be traced to a postal address.
- Some cheques can be 'stopped' if a problem arises.
Disadvantages:
- Sellers need to wait for the cheque to arrive by mail and then need to wait for the funds to clear.
- Payments are extremely difficult to recover in cases of fraud.
- Bank fees are normally associated with this method of payment - through the purchase of the bank cheque / issue of the personal or business cheque.
Money Order
Money Orders are purchased through Australia Post and are mailed to the seller.
Advantages:
- Receipt of payment (proof of payment) can easily be retained through the tear-off portion attached to the Money Order.
- Can immediately be cashed by the seller at Australia Post once received.
- Can be traced to a postal address and tracked by Australia Post in order to view the current payment status i.e. whether the money has been received by the Seller.
- Money Orders can be quickly purchased by anybody, over the counter at any Post Office.
Disadvantages:
- Sellers need to wait for the money order to arrive by mail and then need to wait for the funds to clear if banked.
- There is no recourse for refunds in cases of fraud.
- A purchase fee applies. This cost will be at the buyer's expense.
Escrow
The buyer makes payment to an escrow service. The seller is notified that payment has been received and sends the item to the buyer. Once the buyer receives and approves the item, the escrow service releases the funds to the seller.
Advantages:
- Payment is held by the escrow service until the buyer receives and approves the item.
Disadvantages:
- Escrow service fees apply.
- Delays of receipt of payment may be experienced by the seller, depending on the buyer and how timely their action is.
Cash
Cash can be paid on pick-up of the item (if applicable). NEVER send cash by mail.
Advantages:
- Instant payment / completed transaction when picking an item up.
Disadvantages:
- Cannot be traced.
- No proof of payment.
- There is no recourse for refunds in cases of fraud.
- Sellers may not receive the cash, due to postage issues (lost or stolen in transit).
Money Transfers and Wire Transfers
(Such as Western Union & MoneyGram)
Funds are transferred between third-party agents. Most money transfer services allow people to send money worldwide, through a global network of agents.
Disadvantages:
- Cannot be traced.
- There is no recourse for refunds in cases of fraud.
- A high purchase fee will apply. This cost will be at the buyer's expense.
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