This past May my wife and I took a long road trip vacation. We were tipping wait staff with cash and abut half way through the trip I was low on ones, five and tens, so I stopped in a bank to break a couple of twenties. Even with the circumstances explained, I had to provide photo ID for the bank to copy. The reluctantly gave me $40.00 worth of small bills for 2 twenties. When I got home I talked to my banker about this. He said most banks will not break cash unless you have an account with them so they have recourse. He went on to say, that not a day goes by the local McDonalds doesn’t get burned with forged twenties, and I live in a community of 5,000. Point is, there is apparently a risk with every transaction made these days. I learned that carrying cash would have been useless had I needed it. It can’t be trusted.
Has anyone sold over $35k worth of equipment over the net? How do you protect yourself?
I currently own a Moon 861 amp. I am considering buying a Moon 891 preamp/streamer. Sometimes, I get a bit nervous owning this much in gear. If I ever wanted to sell it, we are talking about $35k payment through paypal or a like service. I read where a buyer could dispute the transaction with their bank even if they bought it through paypal (or zelle) and the seller would lose the money.
Has anyone else sold this much in gear before over the net? How do you handle this kind of risk?
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- 29 posts total
- 29 posts total