Thread: Seeking Advice on Payment Options

Depends on the dollar value IMO. Under $10K I’d ask for cash - and would pay the same way. Bigger amounts direct deposit would be the way to go. Once it’s in your bank account, all good. Bank cheque’s I’m not a fan of these days - they charge a lot for them and the receiving bank will hold the money while it ‘clears’ - which is code for using your money for a few days until they give it to you.

I am very fond of "folding".

When I was running my tool business about 2/3 of sales were cash. Mail orders were part money order, part cheques, part direct deposit.

I refuse to use any business that requests payment by Pay Pal having had a bad experience with them when I tried selling on e-Bay

Edit - Many of the money orders were from using Australia Post COD facility with clients I did not know or trust enough to offer credit. All swap meet sales were cash.

now days bank transfers are instant.

Bank transfers are only instant if the payee is set up for it. DO NOT accept a copy of the transaction statement as proof of payment. Until you see the credit on your transaction statement, the money's not in your account.

Originally Posted by V8Ian

Bank transfers are only instant if the payee is set up for it. DO NOT accept a copy of the transaction statement as proof of payment. Until you see the credit on your transaction statement, the money's not in your account.

ive done nothing special and instant for me.


easy to login to your bank and see if its there.

Yeah most bank transfers I've done and received recently are instant - well within a minute or two anyway. I've not set anything up for it. Some smaller banks still take a day but anything between the big 4 are pretty much instant from what I've seen.

When i bought my D3 it was with a direct deposit, paid mid morning and car ready to collect about 4hrs later, i expected it to be the next day considering the value.

I made a payment the other day, Westpac to ANZ, initially it was rejected because the receiver was not set up for Osiki (or whatever it's called). I had to pay using a different method.