Shipping COD: What do I need to know?

H

huntingfish

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Hi! I have an item for sale (MEC reloading press) in the EE and various other places (FB: reloading group) and I have someone that is interested. He's in the same province I am (Qc). He wants to receive it COD. Never done that before and I am not against it per se.

Anything I should know? The way the buyer tried to explain it (he came me his phone number so we could chat), is that it's sort of like an escrow service. But I laughed and said, since you need to pay to open up the package, I could put bricks in the package and it wouldn't change much for you and he agreed (I work with computers all day and regularly have to think about the security of systems).

I showed him pics of the item and offered to demo it to him via a video call, but he said the pics spoke for themselves and seemed genuinely interested.

Just want to make sure everything is ok for both parties.

Cheers, David

Edit: I searched for his phone number online and found some references to him dating back all the way to 2006 that seemed legit enough on a Québec forum.
 
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I always expect to pay, before the item is shipped - and I always get paid, before I ship the item. I guess, if you really need to make this sale, you could give it a try. - but I'm kinda' stuck on - he doesn't trust you, but he wants you to trust him.
 
Has been decades since I did COD - the down sides for you - at minimum four weeks before you see money from Canada Post - likely more like 8 weeks - is a "cheque" that they "snail mail" to you when they get around to it. If buyer choses not to pick it up, it gets mailed back to you - so you then pay the mail cost both ways, to buyer and back to you - if you want to get your item back from Canada Post. And there is a Canada Post "premium" to pay to use COD in the first place - so entire shipping cost, etc. going to be more than a "normal" deal - and all will be dollars out of your pocket, since you had received nothing from buyer, until or if that "cheque" shows up some months later. If buyer decides he does not have the money, can't afford it, whatever - is all direct cost to you, the person that sent it COD. I do not know, off hand, a single "down side" for the receiver of the COD, except there is a greater mailing cost to him, but only if he pays - but off top of my head there are several "down sides" for the sender...

I am probably very "old school" - the only type of buyer I can think of that would want COD, is someone who can not pay for it today, but thinks they will be able to pay it off when it gets there. And by then, they might change their mind about it.
 
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don't do it!!

instead explain to the potential buyer that there is no benefit for him.
You could send him a box of whatever and he has to pay before he can see what is inside.

A false sense of security at additional cost.

Another option if he wants to pay by cheque (maybe because he doesnt do online banking); you can have that mailed to you and once cheque clears you mail out the press.
Usually when you explain it they see it and don't need the cod anymore.
 
There is an older CGN guy that I have sold stuff to a number of times - he does not do Internet banking - he mails a personal cheque. That guy - his word is as good as gold in your pocket - so I have several times mailed stuff to him before receiving his cheque, because he said it has been sent. And that cheque always shows up, and never bounces. Was the way we used to do deals, "in the old days". I do not do that with very many people, any more, for sure.
 
Its not worth the hassle. The person still has to pay for it at the Canada Post counter "prior" to being able to open the box and examine it. So there is zero benefit to you the seller.
 
huntingfish said:
Any reason though? That's usually what I do as well...but is there a reason NOT to?
Click to expand...

Can take like 4 to 8 weeks before you see any payment from Canada Post.

And I wont accept it as I don't accept cheques or money orders. As I have trouble cashing them. Its 60 KM 1 way to the nearest teller.
 
cosmic said:
The buyer can also send you a postal money order or bank draft, which would give you the assurance of being paid before you ship.
Click to expand...

Yes, and buyer will discover Canada Post's "fee" for a money order - he will pay some to them, for them to cut a money order. Depends on your bank and what type of account you have - some accounts have a number of bank drafts each month for "free" - covered by your monthly account service charge - other accounts have a charge, by the bank, for each one. "Mailing" a payment in an envelope, with no tracking, is "iffy" to me - when I have to send that way (my retirement health plan premium), I mail it as registered letter - has tracking - that way, I do not get into discussion about "cheque is in the mail", or "I did not receive it yet" ... And registered letter is several more dollars to Canada Post.

There was a time - 1970's - haha! - when almost all our spending was done by personal cheque - I think we would go through 50 or more in a month. Since plastic and on-line banking, I doubt we have used 10 personal cheques in past 5 years - one for sure, each year, to pay for my retirement health plan premium.

I received one payment as a "deposit" - buyer needed my account number and bank branch transit number - he went to a local branch of the same bank - deposited the purchase price into my account, from there. Apparently no fee involved. At first I was hesitant about the idea - but look at your personalized cheques - if you give someone, or some store, payment with your personal cheque, you are giving the receiver your account number, branch transit number, usually your name and address and a copy of your signature.

I do not know how to do it, but watched our daughter-in-law "deposit" a cheque that was mailed to her - we were in her kitchen - she took a picture of the cheque with her cell phone, and somehow deposited it to her bank account. So, for sure, today, do not have to physically go to a bank branch to deposit a cheque.
 
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For those that were curious, here's the timeline:
* March 4th: Shipped item, COD amount that needs to be paied to receive package: item price + shipping fees + COD fees
* March 7th: Package delivered, fees paid
* March 8th: COD payment is being done
* March 14th: Received payment in full and is deposited in bank account

Thanks all!
David
 
As mentioned above - has been literally decades since I did that - did you have to pay any money out of your pocket to send off that COD parcel, when you mailed it?
 
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