.ca Payment Method (2.Viewing)

I have discussed on a number of occasions that I traditionally only pay in Canadian funds for .ca domains.
Unless I buy the domain from Sedo or Godaddy I do not deal in USD on .ca domains.

Most people also know that I process almost everything on my inhouse merchant account via credit card.

However.....

I am finding myself using Interac e-Transfer more and more.

Because 3k per day / 10k per week is the limit when I buy I end up paying 3k per day until the domain is paid. About half way through I ask for the domain to be transferred.

For me it's a nominal savings of about 3% in credit card fees when I sell and significantly more if I use paypal.

I don't understand why more Canadians are not using e-Transfers to do the transactions, it's like pulling teeth getting people to understand the savings and that it goes directly into your account.

There is one thing you have to do though....

I buy domainX.ca for 9k

On each e-Transfer I use the note...

1st Payment of 3k total 9k for domainx.com
2nd Payment of 3k total 9k for domainx.com
3rd Payment of 3k total 9k for domainx.com

This is a must so you have a safety net should there ever be a dispute of what a payment was for.

Yep, I use e-transfer frequently. And yes, I agree, if its a .CA domain we should be negotiating in CAD... However, on occasion if its a higher value domain and either myself as a buyer, or the buyer when I'm selling, wants to use Escrow.com. Then we just have to convert the price to USD to complete the transaction. And yes, its a little pain in the ass when you have to do multiple payments, and yes, I always specify in the notes the same way, "payment 1 of 3" or whatever. I don't ask for the domain to be transferred before full payment though. I don't transfer domains before getting full payment, so I don't ask for people to do that for me either. One tip, you can call your bank and get a temporary increase on the daily limit. I just did it recently and they let me send $10K in one shot, even though I had already sent almost $10K in the previous couple days. So clearly they were able to overrode both the day and weekly limit, all just with a phone call.

Use EMT almost exclusively for .ca sales and it is almost always the buyer requesting it.
And they/I put the purchase details in the note.
And no chargebacks ...

Has anyone used a certified cheque for payment? How safe is that?

SmartAlex said:

Has anyone used a certified cheque for payment? How safe is that?

Click to expand...

Certified cheques are old school
They are ok but can be “stopped”
Plus you have to physically take it to the bank
EFT electronic fund transfer is the way to go
E transfer or wire
Instantly in your account and instantly available to spend

I personally like e-transfer myself but a lot of individuals prefer not to do it that way with trust issues and understandable so. PayPal is another option but I never use PayPal unless it is someone I know or a trusted member. It’s too easy to do chargebacks with PayPal.

I recently inquired about a name and we ended up talking for a bit back and forth. He only uses Escrow or checks/money orders. I am still quick surprised that he doesn’t have PayPal or E-transfer.