Common Types of Payments When Purchasing Online
Sellers may offer different types of payment options on an item. Below are different types of payment methods and information about them. Before buying or bidding on an item, make sure the payment method the seller is offering is secure and convenient for you in addition to having an option for recourse should a dispute arise.
As with any type of online transaction, there is always room for fraudulent activity. Please be sure to verify address and contact information and keep an open line of communication.
Payment Type |
Information |
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Advantage |
Disadvantage |
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Bank Deposit Funds are directly deposited into the seller's bank account. |
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Cash |
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Credit Card Secure and efficient for making online payments in which a seller has a credit card merchant account. |
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Escrow When using an escrow service, a buyer makes a payment, the seller is notified that payment has been received and sends the item to the buyer. Once the buyer receives the item and approves, the escrow service releases funds to the seller. |
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Money Order |
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Money/Wire Transfer Funds are transferred between a 3rd party agent such as Western Union. High suspicion of fraud-USE EXTREME CAUTION! |
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PayPal Payments are sent online and can be made by credit card or transferred from a bank account. |
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Personal Check Personal checks can be sent through the buyer's personal or business account. |
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