Quoting from [deutschergeist]:
Every single offer I have received from sellers wants to use Western Union T/T or Bank Transfers!!! I do not trust either of these because I have been burnt before! Are there any companies with legit low prices that take PayPal? Or COD??? I want samples COD because I don't know these companies and they are literally THOUSANDS of miles away and the internet is like the old Wild west, There is no way to track these people down. Anybody have a solution? Ron
Western Union is a no no ALWAYS
TT is normal (called a wire transfer by many in the US). Due Diligence is a MUST!
Paypal and COD do NOT exist in international trading
If your value is over 50K you use an L/C
under that the best method (and safest) is escrow.... the only truly legit one that i would recommend in escrow.com
hope that helps
Quoting from [Fugly]:
Replying to [Foow]:
Just out of curiosity for a newbie - How much does a L/C cost? I understand it's not feasible for anything less than 10-15K - Here you're stating 50K - regardless, I do understand that the order has to at least surpass 10K to warrant using a L/C as payment - was just wondering how much they cost and if they vary from bank to bank?
Thanks for your help (or anyone else's)
They sure do vary by bank but they also vary by the amount of business you do with and thru that bank. If you have never done business with a bank, rest assured they will probally lock the funds which would make it a fully funded L/C.
agree. im a newbie to alibaba and most sellers seem to want western or TT . i know there are a lot of untrustworthy people out there but surely if they are gold member, certified business and trust passed they must be ok???
Yes, if you see trust-member, and gold supplier, I will think right away they have to be serieous people in business!!! But when you see the form of payment, it will be scary. Because I as a buyer don't trust someone so far, I don't even know. And they also don't trust me by sending the items without receiving any money!!! So it's from both side!!!!!
But who give them the title of GOLD SUPPLIER????? I like to ask Alibaba, on this. Because people see a lot, that they like to place an order, but when they think SCAMMERS, than they don't want to order. So please ALIBABA, put some more info abouth what people can trust, yes or no. Very important for the buyer.
Yes I agree. I want to purchase machinery on a small scale and do not feel I can trust the suppliers who want T/T and wont accept Escrow or Paypal. Reading some of the forum comments Im not sure I can trust Alibaba either. It is a shame I want to buy and somebody wants to sell but unless secure system is in place it aint going to happen.