online trading procedure, need advise

[chuckieland]

hi, i need some advise regarding online trading
i have made a deal to sell my digital camera to someone over the internet
the agreement,
he make the direct deposite into my bank account, and once i verify payment, i ship it out to him.
Sept. 19. i call my bank, and there is the fund been deposit into my account.
but the bank CS couldn't tell me if it's a cash deposit or cheque deposit.
now, i'm in a very bad situation.
if he deposit cash, and i ship it late, it doesn't look good on me.
if he deposit cheque, and i ship it now. there are chance that this cheque may be not good.
the bank CS told me that it take 3-5 day to know if cheque is good or not.

any words of advise? should i ship now, or wait later?
as for feedback, he has none

 

[jamautosound]

Just explain to the buyer that you were unaware of the grace period for direct deposit's at your bank. Call your bank back and find out exactly how long it will be before the payment is verified, and money is available.

I'm still new to the game, but I've found, communication is *golden*!

 

[Tates]

Your bank is obligated to inform you, verbally or in writing, if there is a hold placed on your account (Fed Reg CC). If the CSR couldn't help, ask for a supervisor.

BTW, personally I would never give my bank account number to anyone. Especially someone I don't know.

Paypal, billpoint, bank cashiers check, money order etc. is the way to go.

 

[Garet Jax]

I would not send the camera to the buyer until you are guaranteed the payment has gone through. Here is how I see it...

If the buyer pressures you into sending the camera before receiving confirmation, then they are more likely trying to screw you out of the camera.

Make sure you tell them that you understand that they want the camera ASAP, but that they need to understand you are just protecting yourself.

 

[chuckieland]

well i can see the deposit in my bank account. online
but i can't tell if it's a cash deposit or cheque deposit
my bank doesn't hold anything that deposit into my account