Please delete if not allowed. Not sure where to post this. I keep hearing bits and pieces about PayPal locking accounts and sending 1099’s, etc. Forgive me if this is already covered, I couldn’t really find much recently, but what are people finding as a safe alternative?
WTB What payment method is best?
- Thread starter smokinbobf4
- Start date
Wanting To Buy
Above guys are correct. “Personal” payments aka friends & family, discreet, etc. are not accounted for in the new tax legislation since they are still considered gifts. If a buyer is not willing to use this method (or USPS MO, check, similar), then move along. Obviously, no comments about anything should be included. Even shipping addresses or cryptic messages can be red flags.
Zelle and Venmo can also work, but I’m not sure if those are captured in the new 1099 rules.
For these reasons, and just the sheer amount of shitty people on the internet anymore, are also why forum feedback is so important (leaving and receiving it).
Zelle and Venmo can also work, but I’m not sure if those are captured in the new 1099 rules.
For these reasons, and just the sheer amount of shitty people on the internet anymore, are also why forum feedback is so important (leaving and receiving it).
I just worry about Zelle being linked directly to my bank account ... that just makes me nervous. Probably an irrational fear ... but real nonetheless.
Agree completely ... best insurance against fraud here is only doing business with well-reviewed long-term members.
Every type of payment is linked to an account that’s linked to your bank account zelle is offered thru my bank so I’m protected thru them
If you are worried about a bank account being linked to these online payment sources, maybe justifiably so. An easy alternative is to go to the bank and open up another checking account that you only have the minimum balance in, then just move in or out as needed to fund your pew pew lifestyle. Then at least the payment agencies don't have direct access to your "main" checking account.
I have done this forever for automatic payments and such. I move the correct amount of money from one account to the "payment" account a few days before a draft automatically. That way if something fat fingers and they try to take one too many zeros out for some automatic payment, it fails and it's on their side. Never had an issue, but it was a fear of mine early on in the online payment game.
I have done this forever for automatic payments and such. I move the correct amount of money from one account to the "payment" account a few days before a draft automatically. That way if something fat fingers and they try to take one too many zeros out for some automatic payment, it fails and it's on their side. Never had an issue, but it was a fear of mine early on in the online payment game.
Zelle is executed uniquely directly through the banking transfer system. In many cases, you actually send money through your bank's app, not the Zelle app. That allows banks to have control. There is no recovery if you screw up, though... but I'm not too concerned about Zelle.
Exactly what I do. I have an account for buying shit off of forums like this and I have an account for my recurring bills.
And then I also have an account with money I use to buy food... which always seems to be a bit low on account of buying shit from here.
This guy gets it.
Doesn’t everybody have an account with just a few cents in it for incoming wire transfers?
This isn’t hard.
A lot depends on what you're selling and who you’re dealing with. If you're handling transactions that banks might see as risky, a high risk merchant account can keep things running smoothly without surprise holds or shutdowns. Some payment processors are quick to freeze funds over certain transactions, so having the right setup from the start can save a lot of frustration. Been burned once before, and that was enough for me.
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