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6. Completing Transactions > 85. Protect Yourself While Accepting Payments

Protect Yourself While Accepting Payments

Reduce your odds of getting burned by setting firm policies about the types of payments you accept.

Just as bidders must be cautious when sending money [Hack #33] , sellers need to be careful about the payments they receive. A little common sense is all that’s required to avoid fraudulent payments, payments that can be reversed, and payments that require excessive fees to process.

Fortunately, it’s the seller who sets the rules, at least when it comes to payment terms. Before you start selling, and especially before you send payment instructions to your customers, you’ll need to develop a strict policy regarding the types of payments you’ll accept.


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