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making money online with ebay

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EBay winning bids and what you should do next

Posted by ebayprofitmaster on September 19, 2010

So you have placed an EBay winning bid, and know you are soon to receive the item you want. But what should you do after winning that eBay listing?

When you first get used to eBay it seems like there might be quite a lot to do after you find out you have won the eBay listing you were bidding on.

In fact it’s quite simple; you just need to send the seller your payment as soon as you can after the auction end.

The main reason for sending the payment quickly, of course is to get even better feedback from the seller after the listing ends, but then if you were the seller of an item, wouldn’t you want to receive your money quickly?

Another good reason for trying to pay your seller quickly is simply because they will only be sending you your item once they have received your payment, so the quicker the better!

But how do you go about paying for your EBay winning bids? That will depend upon the methods you have at your disposal.

The obvious choice for anyone on eBay is PayPal. PayPal is one of the most popular options for paying on eBay, and in fact eBay now own PayPal.

Also, since every seller must now accept PayPal as a method of payment for an EBay winning bid, it makes sense to set yourself up with an account provided your country can use PayPal (which is now most countries in the world, thankfully)

Your payment is sent instantly via the internet, and all you have to do is login to your PayPal account by your web browser to confirm that you want to send the payment.

The money is taken either from your debit or credit card to the seller’s PayPal account, with a debit card being the primary method, and the credit card being a backup payment method.

When you pay via PayPal, you are covered by PayPal’s own insurances and guarantees in addition to those provided by your own bank.

You can still pay for your EBay winning bids via Cheques and Money Orders (but this is not recommended and will likely be phased out soon).

This is an extremely old fashioned way to pay, and will not only lead to an increased delivery time for your item, but it is also considered to be insecure.

Although it’s true that a cheque can only be cashed by someone with the right account name, eBay want to see these outdated methods of payment removed all together, so you might as well move to PayPal as soon as possible.

The delay alone (waiting for the seller to receive the cheque through the post, take it to the bank, and then bank clearing time) is enough of a reason not to want to pay via this method.

Pay for your EBay winning bids via money transfers and direct bank deposits (an option, but one to use only when you really trust the seller).

I hesitate to recommend this as an option because it is fraught with danger – but can have benefits in terms of fees.

There are still some sellers around that may ask if you will pay them using a wire service like Western Union, or ask if you will give them a direct bank deposit simply by giving you a bank account number and asking you to pay money into it.

(Up until recently I still offered this as a payment method myself – the reason being that it is cheaper to receive money in this method, rather than pay PayPal fees, yet payment can still be received quickly. Trouble is you are perceived to be a dodgy seller, and so it’s best not to offer this option!)

It is difficult (though not impossible) to trace any of these transactions in the event of any trouble, so this method is really one to avoid as you are the one taking all the risk just to help a seller save on their fees.

Yes, sellers will often cut you a cheaper deal for doing so, but is it really worth it?

Another method that might save you some money is to pay in cash, but this is an even worse method than the one above, as there is absolutely no way to trace cash movements.

There is also the risk of receiving a nasty knock on the back of your head, your money taken and still not receive an item for your trouble!

This was a method I sadly had to accept (not happily) when selling gig tickets on eBay years ago – every sale (especially those at night as it was going dark) was one which caused me to feel a good deal of concern, to put it mildly!

Hopefully we have now answered your questions regarding how to pay for your EBay winning bids.

In answering these types of question, we usually create a few more questions, so next time I might cover some of the more frequently eBay questions.

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One Response to “EBay winning bids and what you should do next”

  1. woot, thank you! I’ve finally came across a website where the owner knows what they’re talking about. You know how many results are in Google when I check.. too many! It’s so annoying having to go from page after page after page, wasting my day away with tons of owners just copying eachother’s articles… ugh. Anyway, thankyou for the information anyway, much appreciated.

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