Safest method for large transactions online?

[Cryoguns]

I couldn't find a post for this on the board via searching (maybe using the wrong terms), so I wanted to toss this out there for some ideas. Here's the question in a nutshell:

What's the safest way online for both buyers and sellers to complete a transaction involving a larger sum of cash? For clarification, I consider a larger transaction to be anything over $500-1000 or more.

Paypal is relatively good for anything smaller, but I'm looking for something more reliable like a reliable escrow service or a middleman where the seller has to hand the item off to in order to accept payment. Has anyone used a service like this, were the fees reasonable, and what was your experience like?

 

[wofford29]

It's probably not what you want to hear but I still use Paypal for transactions well over $1,000. The only precautions I take are my judgement on the seller and using a credit card to make the payment. If things pan out I just take the cash and pay off the card immediatly. If things go south I issue a charge back on my card. Didn't have any problems getting my money back on the one occassion I got taken, but I'm sure that's dependant on your card provider as well. I'm sure there are safer ways though.

 

[Cryoguns]

Not at all! The feedback is still good I always try to use my CC via Paypal for any purchases and my credit card company has taken care of issues the two times there were fraudulent charges on my account. I'm just wanting to check all my options before making a large purchase...big reason is because there have been so many horror stories where Paypal didn't back up a buyer in some cases and a seller in others, etc.

 

[Darklord Dave]

I've used Paypal for a transaction over $10,000. They froze my account, but as soon as I proved I had shipped the item they unfroze.

 

[jonny88]

I've used Paypal for a transaction over $10,000. They froze my account, but as soon as I proved I had shipped the item they unfroze.

was it one hell of a pain to show proof of shipment. l have heard people needing papers and proof of identity 1/4 thick before their accounts were unfrozen.

 

[Cryoguns]

Well, in my case, the seller didn't respond to my emails after the first day. After the fifth day, I sent a reply to say "thanks, but no thanks." Just got bad vibes off it and decided to buy the item from a proper vendor and pay the extra...felt safer that way.

 

[Darklord Dave]

was it one hell of a pain to show proof of shipment. l have heard people needing papers and proof of identity 1/4 thick before their accounts were unfrozen.

Had to fax 2 forms of ID to Paypal and provide tracking on the package.