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Payment Options for Buyers
Posted by , Last modified by bidorbuy Marketing on 16 November 2017 09:39 AM

Payment options are determined by the Seller, it is therefore important for Buyers to read the Payment Options offered before placing a bid or buying an item to ensure that they are aware of what payment methods are offered by the seller.  Please see the image below to see where the Payment Options are located on the listing itself:

Once you click on that tab, you will be presented with both the Seller's Shipping and Payment options:

A payment method is the method by which you pay the Seller for the item and shipping. There are various payment options ranging from Internet Bank Transfers (EFT directly to an account via internet banking transfer), Cash deposits, Credit Card and PayPal payments. Payment options are seller dependent.

Please note - Not all sellers can offer PayPal or Credit Card payment options.  Credit Card payment options are generally only available to Verified Sellers (Visa, MasterCard and Amex only).  PayPal is generally only offered by Sellers who have PayPal accounts (these sellers are usually based overseas or have paypal accounts locally with FNB). 

The most common form of payment is EFT (commonly known as internet banking).  Sellers can offer this either with payment directly into their bank account (if they are Advanced Sellers) or through bobPay EFT (where bidorbuy handles the EFT payment on behalf of the seller), usually applicable to Basic Sellers (although any Seller can offer bobPay EFT).  Cheques may be accepted by some Sellers, but as a general rule most Sellers do not accept cheques due to fraud and costs involved.

Important! - If a Seller offers bobPay as a payment method, if you do not have internet banking, you can still pay by making a direct deposit or cash deposit into the bobPay account.  You will need to complete the order online, to get the Banking details (selecting the Bank you bank with) and unique reference number, make a note of these and then go into your nearest bank branch to make the payment, be sure to include the unique 6 digit reference number (only) in the reference field and to add R20 to cover the cash deposit fees charged for accepting cash deposits.

 

Payment Option definitons:

  • EFT is an electronic payment but made off the bidorbuy site directly into the sellers bank account. Typically, the Buyer would have to enter the sellers/bidorbuy's bank details into his or her Internet banking facility and then transfer the funds electronically.
  • Direct deposit is a payment into sellers bank account. Since this is a broad term, sellers need to specify what form of direct deposit they accept (cash or cheque). Cash is problematic due to bank charges. As to cheques – if the sellers do decide to accept them, you will need to wait seven to ten days for the cheque to clear before the goods are dispatched.
  • Cash is, of course, cash, but may mean either cash deposited into your account or the cash the Buyer hands over to you in case you accept collections, or in case you deliver to certain areas. Most bidorbuy Sellers rule out cash deposits, or require the Buyer to add one or two percent to the price when depositing cash. This is because South African banks charge a rather high fee on cash deposits.
  • COD means cash (or cheque) on delivery. Again, the seller needs to specify whether they accept cash or cheques on delivery. We advise sellers against accepting cheques due to high bounce rates.
  • Credit card. Probably the easiest and most convenient way to make payment (sellers can offer this directly if they have their own Merchant account or through bobPay Credit Card if they are Verified Users). The Buyer should be directed to a secure credit card payment page, denoted by a "https" secure link.
  • International transfers are also offered by some sellers to international buyers (usually wire transfer or SWIFT). Since international transfers involve banks talking to each other across national frontiers, this is usually a lengthy process and as a rule an expensive exercise. There may be banking charges, on either side of the border, for the Buyer's account. The seller will need to send you the relevent account details.
  • PayPal. bidorbuy is integrated with PayPal (although exercise no control over PayPal and is completely independent of PayPal). This means, if a seller offers PayPal as a payment option bidorbuy will guide the Buyer through the payment process on PayPal and attempt to record completed PayPal payments against the order on the bidorbuy system. Note however that PayPal does not offer South African rands as a currency. The Seller will select one of the foreign PayPal currencies in which to receive payment. At the time of payment bidorbuy will convert the total payment amount from rands to the chosen currency using the latest exchange rate from www.xe.com.
  • Many bidorbuy sellers also offer these payment methods: bitcoin, bobBucks, Discovery Miles, Mobicred and SnapScan.

 

Buyers Beware:

Buyers should always exercise caution when making payment (as it is usually Buyers who will be requested to deposit or send monies to the Seller) using the methods below and to be cautious when dealing with new sellers or sellers with no ratings, trying to speed up the process, pressurising you into completing payment immediately. Be wary of sellers who tell you that this is the last one in stock or that they have another buyer interested in the item to put pressure on you to finalise the payment and offering immediate shipping via courier if you make prompt payment. Remember, if the deal looks too good to be true, it is highly likely that it is just that- not true!

  • Do not deposit money into a Bank Account or send money to a Postal Box if you cannot verify the identity of the Seller.
  • Be very wary of users (especially those overseas) requesting to use the following Payment Methods or Delivery Companies:
    • Western Union
    • Moneygram or Money Order
    • E-Gold / E-gol / Osgol / Goldmoney
    • Payment via Wire
    • UPS
    • DHL
    • Fedex
    • Express Postal Service

 

For more details on payment options, please see these related links:

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