(Topic ID: 329598)

Buyers...is 'cash on the glass' ever a deal-breaker for you on local pickup

By curban

1 year ago


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  • 161 posts
  • 88 Pinsiders participating
  • Latest reply 1 year ago by curban
  • Topic is favorited by 6 Pinsiders

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    Topic poll

    “Buyers...is 'cash on the glass' ever a deal-breaker for you on local pickup”

    • No, cash requirement is never a deal breaker on a local purchase 174 votes
      94%
    • Yes, I might back out of a deal if the Seller requires cash 11 votes
      6%

    (185 votes)

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    There are 161 posts in this topic. You are on page 1 of 4.
    #1 1 year ago

    A local Buyer on FB offered to buy a pin with Zelle payment. I am unfamiliar with Zelle, but talked to my bank and researched online and was not 100% convinced that it wasn't a scam. Ultimately I stood firm on 'cash on glass' only. The Buyer bailed. Maybe a scam; maybe I just ticked them off.

    This thread isn't about whether Zelle is safe or not (there are other threads discussing Zelle).
    I specifically want to poll Pinside buyers whether you would ever back out of a local pickup deal because the Seller would only agree to a cash sale.

    I would not...I have paid cash for every purchase...even with friends.

    -15
    #2 1 year ago

    I hate dealing with paranoid people…

    55
    #3 1 year ago

    You can't reverse a cash payment.

    With online payments, there is always a chance someone can reverse it after they leave, and you're pretty much out of luck if that happens.

    So, cash is king.

    #4 1 year ago

    Only deal in cash or bank wire transfer.

    -10
    #5 1 year ago

    These are the types of folk that when you are selling meth or coke they always show up with guns.

    #6 1 year ago

    It’s the preferred method of all pinheads older than 55. We have been doing so many cash transactions in pinball it feels wrong otherwise. Besides, other than denomination size (once had to pay in all $20’s) I have never had anyone complain or demand using another service locally. Why trade some online drain on society service for hard cold cash in hand? Seems like someone wasn’t adult enough to take their credit card training wheels off and actually deal in greenbacks for once.

    #7 1 year ago

    I'll take PayPal, Zelle, Venmo from friends in the area. If I don't know you, its cash (unless you have a stellar reputation on Pinside, then I might consider a combination of the above).

    17
    #8 1 year ago

    I'm sure there are plenty of people that are turned off by using cash for a sale; I would never do business with these people and they are fucking bizarre.

    #9 1 year ago

    I’m definitely a cash on the glass buyer - however I have experienced a couple of times where the bank gets pissed off I’m withdrawing so much money in cash (these games are damn expensive!). They say they don’t carry as much day to day because people aren’t using it as much. One bank branch were asses about it - the other one politely told me that I should call ahead just to make sure they have enough on hand.

    #10 1 year ago
    Quoted from Rdoyle1978:

    I’m definitely a cash on the glass buyer - however I have experienced a couple of times where the bank gets pissed off I’m withdrawing so much money in cash (these games are damn expensive!). They say they don’t carry as much day to day because people aren’t using it as much. One bank branch were asses about it - the other one politely told me that I should call ahead just to make sure they have enough on hand.

    I agree about the banks. I now call ahead if ever needing more than ~$3k. Without calling ahead, my FCU once had to give me only $3k in 100’s and the rest in 20’s and 50’s. That was painful.

    #11 1 year ago

    If I have done deals with a buyer or seller before I will consider a wire transfer.Does zelle have a monthly Max ? I think so.My Bank never raises an eyebrow when I pull out as much as I want with no notice.Zelle may be a 5k per month limit but Im not positive because i only use it with Family so far.For Strangers buying CASH is the way.

    #12 1 year ago

    There’s no way I would show up at a stranger’s house or have a stranger show up at mine with $10k in cash.

    That’s one reason why I don’t pinvest.

    #13 1 year ago

    PlungerHead do you work for Zelle or something?

    #14 1 year ago

    Cash is how it's done. You don't like it go find someone else to buy from, I'd happily tell someone to walk if they balked at that.

    Only exception is if you're doing a long distance transaction and shipping, then it is what it is, and know who you're dealing with.

    #15 1 year ago
    Quoted from galore2112:

    There’s no way I would show up at a stranger’s house or have a stranger show up at mine with $10k in cash.
    That’s one reason why I don’t pinvest.

    Chances are that if someone is dropping that much money on a pin, they're typically not new to the pinball community.

    #16 1 year ago

    Haha tough crowd…

    #17 1 year ago
    Quoted from galore2112:

    There’s no way I would show up at a stranger’s house or have a stranger show up at mine with $10k in cash.
    That’s one reason why I don’t pinvest.

    I live in a state where you would expect someone to be carrying a firearm on them if they carry large amounts of cash. I also wouldn’t expect someone to come to my home and try to pull something. I’ve had zero problems with large cash deals.

    #18 1 year ago

    As a seller, if you price pins at good prices and then state "cash on the glass" you won't have any problems. If someone tries to suggest an e-payment, you know you have someone next in line who wants your game.

    As a buyer, I've done cash on the glass for every non-NIB I've bought. Easy, and you know the seller is going to prefer it.

    #19 1 year ago

    Recently I had a woman that wanted to buy a pin but was incredulous when I told her I wouldn't accept her check.

    Always "cash on the glass" when selling a machine.

    #20 1 year ago

    It's a bit unnerving when traveling, especially out of state. You hear these stories of small town cops pulling someone over, searching them and finding a large amount of cash (and nothing else), and taking it. I know people this has literally happened to. Best case, after months of legal battles they get back about half. I just did this and luckily everything was fine, but my bank suggested doing a cashier's check next time.

    #21 1 year ago

    Cash on the glass. Took $25,500 in a single transaction at a pinball show once.

    Life pro tip, Casinos have really high limit cash ATMs. The one near my house does $3,000 in a single pull, no issue. Drive through ATMs usually cap at $600. If you don't have a local physical bank, you can buy a $1,000 postal money order for $1.95 and cash it with your banking app (works for USAA).

    With large purchases I always make the other person watch me count their cash and/or vice versa. I've been off $20 before and I really am not trying to screw you and/or ruin my reputation.

    #22 1 year ago

    As someone who is about 2 hours from my nearest bank branch, I have trouble with quickly getting cash for a purchase. One of my recent purchases for about $5K was in cash because the seller would not take Zelle or Paypal. I had to use an ATM multiple times/days to get all the $20 bills (250 of them if my math works). The seller complained bitterly about that too.

    It's the sellers prerogative to demand cash.
    Perhaps in another 10 years people will come to learn that Zelle is a bank-to-bank wire transfer and be OK with it. Until then cash is king, even in small bills.

    #23 1 year ago

    Cash on glass with a friend and a 9mm is the only way I'd do it person to person. Call the bank prior to withdrawing the cash - large amounts sometimes are hard and they may need the money transferred in. Buying from a distro in person I learned the hard way that CC's looovveee to decline, then lock large purchases randomly made out of state. If using a CC, especially on a weekend when you may be outside of service hours - call ahead.

    #24 1 year ago
    Quoted from StoneyCreek:

    As someone who is about 2 hours from my nearest bank branch

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    Quoted from StoneyCreek:

    Perhaps in another 10 years people will come to learn that Zelle is a bank-to-bank wire transfer and be OK with it.

    I kinda doubt people really want a long electronic paper trail of all their pin sales.

    #25 1 year ago
    Quoted from Aurich:

    [quoted image]

    I kinda doubt people really want a long electronic paper trail of all their pin sales.

    "I hate dealing with paranoid people." -lorddrek

    #26 1 year ago
    Quoted from StoneyCreek:

    As someone who is about 2 hours from my nearest bank branch, I have trouble with quickly getting cash for a purchase. One of my recent purchases for about $5K was in cash because the seller would not take Zelle or Paypal. I had to use an ATM multiple times/days to get all the $20 bills (250 of them if my math works). The seller complained bitterly about that too.
    It's the sellers prerogative to demand cash.
    Perhaps in another 10 years people will come to learn that Zelle is a bank-to-bank wire transfer and be OK with it. Until then cash is king, even in small bills.

    There’s still a way to get scammed accepting Zelle. It involves unauthorized transactions. I’ve read about a couple Zelle scams.

    I’ve done personal checks with a copy of the persons drivers license. Less than ideal, but every time they were older people and I had a good gut feeling. It’s worked out so far, but I do not prefer it.

    #27 1 year ago

    Question for Canadians. Cash on glass or Interac? Downside of Interac is daily max of 3k and 7 day limit of 10k but the transaction is not reversible once deposited by the receiver. I have done multiple Interac instalments to buy a pin but what was also with a very trusted friend so there was no risk to me.

    Getting cash from the bank can be a pain in the butt sometimes too.

    #28 1 year ago

    Well,so far the poll is unamimous about nobody backing out of a deal because the Seller requires cash. Good to hear.

    By the comments in this thread, it does seem that a few are comfortable with Zelle or even prefer it. Also good to know.

    I went to my credit union and asked them directly how Zelle works and whether the money can be 'pulled back' once it hits my account. My credit union said that the Buyer can not pull back the funds, but that Zelle CAN pull back the funds from my account without mine or my credit union's permission. So then the question becomes 'under what circumstance would Zelle ever pull money back'. I didn't get an answer, but the conversation left me without enough doubt that I don't believe Zelle is 100% safe or 'as good as cash'. Considering the entire correspondence with the potential buyer, I suspect that I was being setup for a scam of some sort. Maybe I'm one of those paranoid aholes!

    #30 1 year ago

    Remember to add the income to your taxes hope you saved the receipt when you bought the machine you just sold. 87k new irs agents will need something to do this year.

    #31 1 year ago
    Quoted from Mundy53:

    There’s still a way to get scammed accepting Zelle. It involves unauthorized transactions. I’ve read about a couple Zelle scams.
    I’ve done personal checks with a copy of the persons drivers license. Less than ideal, but every time they were older people and I had a good gut feeling. It’s worked out so far, but I do not prefer it.

    Let's hear the details. meanwhile, a bank transfer is a bank transfer. no turning back. no fraud insurance. no delay.

    #32 1 year ago
    Quoted from curban:

    Well,so far the poll is unamimous about nobody backing out of a deal because the Seller requires cash. Good to hear.
    By the comments in this thread, it does seem that a few are comfortable with Zelle or even prefer it. Also good to know.
    I went to my credit union and asked them directly how Zelle works and whether the money can be 'pulled back' once it hits my account. My credit union said that the Buyer can not pull back the funds, but that Zelle CAN pull back the funds from my account without mine or my credit union's permission. So then the question becomes 'under what circumstance would Zelle ever pull money back'. I didn't get an answer, but the conversation left me without enough doubt that I don't believe Zelle is 100% safe or 'as good as cash'. Considering the entire correspondence with the potential buyer, I suspect that I was being setup for a scam of some sort. Maybe I'm one of those paranoid aholes!

    Zelle can pull back a transaction the the source or destination bank's systems flags fraud, or some other worse condition like money laundering etc.

    #33 1 year ago

    I'm fine with cash sales, but it's a royal pain in the ass acquiring large stacks on short notice, and I do NOT like driving around with wads of greenbacks for reasons others have mentioned. I get that people suck and scams abound; it's also not really that difficult to vet people.

    It works both ways, too - while I've done large cash transactions, I've pulled out of more than one because I didn't have enough trust to show up with 10k. Bring a gun and a buddy if you want, that doesn't matter for shit if someone's waiting for you on their turf and wants what you have. But cowboy yourself to sleep at night if ya like.

    I would never take a personal check, of course. Couple grand as good faith and PayPal/zelle is fine by me most times though, IF I can vet you to my liking. If I can't, I don't give out my address regardless of how much you claim to be bringing. If we have history, or a really good rep, electronic only is fine.

    #34 1 year ago

    I have a gun and a carry permit. But honestly I have to ask myself - would I get in a gunfight over 10 or 20k? Hell no.

    12
    #35 1 year ago
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    #36 1 year ago

    I agree that it is kinda annoying to run around to banks to get cash, usually quickly so I get first dibs, but I would have it no other way. All of my buy/sell is done with cash. I just always bring a friend(s) (aka muscle) for loading pin of course.... and backup.

    #37 1 year ago

    Whom buys used games without a stockpile of cash ready to roll?

    #38 1 year ago
    Quoted from Jamesays:

    If I have done deals with a buyer or seller before I will consider a wire transfer.Does zelle have a monthly Max ? I think so.My Bank never raises an eyebrow when I pull out as much as I want with no notice.Zelle may be a 5k per month limit but Im not positive because i only use it with Family so far.For Strangers buying CASH is the way.

    Zelle for me is just capped at $2500.00 per 24 hours. Zelle is cash and cannot be disputed or reversed.

    #39 1 year ago
    Quoted from StoneyCreek:

    As someone who is about 2 hours from my nearest bank branch, I have trouble with quickly getting cash for a purchase. One of my recent purchases for about $5K was in cash because the seller would not take Zelle or Paypal. I had to use an ATM multiple times/days to get all the $20 bills (250 of them if my math works). The seller complained bitterly about that too.
    It's the sellers prerogative to demand cash.
    Perhaps in another 10 years people will come to learn that Zelle is a bank-to-bank wire transfer and be OK with it. Until then cash is king, even in small bills.

    Zelle has daily limits that would prevent most from paying the entire amount.

    #40 1 year ago
    Quoted from Mundy53:

    I live in a state where you would expect someone to be carrying a firearm on them if they carry large amounts of cash. I also wouldn’t expect someone to come to my home and try to pull something. I’ve had zero problems with large cash deals.

    Well yeah, I’m in Dallas, Texas. That’s one main reason why I wouldn’t carry $10k to a stranger’s house who very likely packs heat as well LOL.

    #41 1 year ago

    Chase makes you sign some IRS paperwork if you withdraw more than 10k in cash.

    I have paid and received money via Zelle for pinball machines and never had any issues.

    #42 1 year ago
    Quoted from DavidCPA:

    I agree that it is kinda annoying to run around to banks to get cash, usually quickly so I get first dibs, but I would have it no other way. All of my buy/sell is done with cash. I just always bring a friend(s) (aka muscle) for loading pin of course.... and backup.

    Last time I called ahead to a couple local branches. Sometimes they have the cash on hand, sometimes they don’t. I made an appointment for a couple days later when they would be assured to have enough on hand. It worked a lot better that way. Also, when I am “shopping” I do not wait until a strike a deal then scramble to get the cash. I get it ahead of time and have it ready and it’s much less stressful and easier to jump on a deal.

    Sometimes they ask what the money is for (kinda pisses me off). When I say I collect pinball machines it usually is just a short and pleasant conversation. They might ask a question or two out of personal curiosity. So if I ever actually do something shady, I think “I collect pinball machines” is the perfect cover.

    #43 1 year ago
    Quoted from Jodester:

    Chase makes you sign some IRS paperwork if you withdraw more than 10k in cash.
    I have paid and received money via Zelle for pinball machines and never had any issues.

    The new reporting law got delayed, but the way things are going you're going to have a lot more IRS issues with those Zelle payments in the future. Which is why I suggested not having a long electronic record of your sales.

    #44 1 year ago
    Quoted from galore2112:

    There’s no way I would show up at a stranger’s house or have a stranger show up at mine with $10k in cash.
    That’s one reason why I don’t pinvest.

    Purchased 12 pins last September in one shot, cash on the glass.

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    #45 1 year ago
    Quoted from gdonovan:

    Purchased 12 pins last September in one shot, cash on the glass.
    [quoted image]

    Looks like one of those police department posts where they took a shit ton of money and drugs

    #46 1 year ago
    Quoted from Jmckune:

    Looks like one of those police department posts where they took a shit ton of money and drugs

    Precautions were taken on both sides (I assume) as the sellers "buddy" disappeared fairly quickly after we arrived and money changed hands.

    #47 1 year ago

    If going to unknown location or seller, I never take cash the first time. Not going to just bring them the loot and walk in their front door to a cold cocking or worse. I need to see pin activity of like 37 machines in every state of disrepair, or just a single machine, covered in about an inch of dust, kick the tires, make an offer, shake a hand. Go get cash. If someone buys it out from under me, then I’m not meant to buy it, and won’t have to explain it to the wife. By the way, if going solo, tell someone where you are going. At least they’ll have a lead on finding the corpse.

    #48 1 year ago

    If they could Zelle it, they could cash it if they really wanted it.

    #49 1 year ago
    Quoted from Smack:

    Question for Canadians. Cash on glass or Interac? Downside of Interac is daily max of 3k and 7 day limit of 10k but the transaction is not reversible once deposited by the receiver. I have done multiple Interac instalments to buy a pin but what was also with a very trusted friend so there was no risk to me.
    Getting cash from the bank can be a pain in the butt sometimes too.

    Better if you know the person but talk to the seller and get to know them a bit. E-transfer is the easiest way, seller can verify funds and you don’t need to carry a fat stack.

    #50 1 year ago
    Quoted from Bublehead:

    If going to unknown location or seller, I never take cash the first time.

    Correct. It was worth the 4 hour round trip to scout out the seller, scope out the pins to make sure all was on the up and up and return a few days later.

    There are 161 posts in this topic. You are on page 1 of 4.

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