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Old 11-26-2017
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Exclamation NEED ADVICE: Making a Big Purchase from Manufacture

I plan on placing a rather large order from my manufacture this week. I have been using them since April for my product and our relationship is very good. The products are then finished by myself in house. So far I have been using PayPal to place smaller orders with them with no issues. The order this time around is going to be around 23k. Is this going to be an issue with PayPal? I have read that the limit is 10k per transaction? What about splitting up to 3 transactions? My manufacture also does take bank transfer.

If anyone has experience with placing large amount orders with there manufacture or business I would greatly appreciate your advise/input. If anyone needs more information I will be happy to provide it. Thank you.
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Old 11-26-2017
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Default Re: NEED ADVICE: Making a Big Purchase from Manufacture

You need to goto your bank and do bank transfer, setup international wiring with your banker, much safer.
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Old 11-26-2017
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Default Re: NEED ADVICE: Making a Big Purchase from Manufacture

I'd recommend paying outside PayPal if you trust your supplier - Bank transfer will avoid so much potential stress post-transaction, in the event it gets flagged up for review. Supplier wont have funds, wont send goods, you wont have access to funds, and then your left without supplies.

On the other hand if you feel PayPal is your best option, and your PayPal is in good shape, it may be a good idea to a) split the payment (into unequal amounts), but in your case with it being such a large payment, b) calling into PayPal, and making the payment whilst the adviser is on the phone with you so they can approve it to go through without issues.

Those are in my opinion your best options.
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Old 11-26-2017
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Default Re: NEED ADVICE: Making a Big Purchase from Manufacture

I have a PayPal not attached to eBay for others.

That is something to think about for the future,

IMO, the advice already given is excellent.

Make a wise choice,

Best wishes

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Old 11-26-2017
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Exclamation Re: NEED ADVICE: Making a Big Purchase from Manufacture

Thank you everyone for your advise/input I greatly appreciate it! I guess my biggest concern in deciding which path to take comes down to "protection". So far everything has been great, but what if something comes up in which my manufacture messes up the product/package is lost/damaged/etc? If something cannot be worked out between me and my manufacture, I do not think the bank can do anything if I go the wire transfer route? If I go the PayPal route, would there be better protection for me in terms of getting all or a portion of my money back? (My manufacture is overseas in China btw). Thanks.
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Old 11-26-2017
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Default Re: NEED ADVICE: Making a Big Purchase from Manufacture

Is Escrow available for the transaction?
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Old 11-26-2017
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Default Re: NEED ADVICE: Making a Big Purchase from Manufacture

Quote:
Originally Posted by Gammzy98 View Post
Thank you everyone for your advise/input I greatly appreciate it! I guess my biggest concern in deciding which path to take comes down to "protection". So far everything has been great, but what if something comes up in which my manufacture messes up the product/package is lost/damaged/etc? If something cannot be worked out between me and my manufacture, I do not think the bank can do anything if I go the wire transfer route? If I go the PayPal route, would there be better protection for me in terms of getting all or a portion of my money back? (My manufacture is overseas in China btw). Thanks.
Trust is key, keep in mind the Chinese want your repeat business, it would be foolish to screw you over, but yea bank transfer is non-reversible. Paypal will have much higher fees for you to pay, bank transfer minimum fees. Like the bean said, choose wisely.
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Old 11-27-2017
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Default Re: NEED ADVICE: Making a Big Purchase from Manufacture

Paypal - most expensive + buyer protection
Int'l T/T - moderately expensive and no protection
WU/MG - cheaper than Int'l T/T, no protection
Domestic ACH - cheapest by far but requires your supplier have a US bank account (some do), still no protection.

For a supplier you've only been working with for 6 months I would probably pay the extra fees and go with multiple PP transactions.
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Old 11-27-2017
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Default Re: NEED ADVICE: Making a Big Purchase from Manufacture

Ok, so in this situation, I don't suggest you use PP.
One of the best ways in doing this is to talk with your bank manager and do a LOC.

This will have protection for you, so if you don't receive anything or received something that is not good, you won't lose the money. This is how the big boys play.

Not only do you build a bigger relationship with your bank, but you don't have to worry about the Paypal multiple transactions and risk getting limited as well.
I've done this for years and it's working flawlessly ... .and I deal in containers.
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Old 11-27-2017
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Exclamation Re: NEED ADVICE: Making a Big Purchase from Manufacture

Hello,

Thanks again for the replies everyone I greatly appreciate it! I am not really sure what you mean by most expensive for PayPal? So far when paying with PayPal I have not paid any fees (I have always paid with my credit card or bank account). As far as I knew my manufacture pays the fees.

SaiJin what is a LOC? I am sorry I am new to this just wondering if you can explain it more. Thanks everyone!
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