With payment services and fraud in the headlines these days, I think it is a good idea to take a look at how to receive money for auctions and online sales. Most of this information applies to higher-priced items, $500 or more, but can also be applied to transactions of lesser value.

First and foremost, check your buyer's feedback record. If you have doubts, clear them up, and reject the bid if you don't like what you find out. My rule is: once a flake, always a flake.

When you know who the high bidder is, get in touch with them immediately with a personal email, not a system-generated one. It is good to let the buyer know that you are on top of your game and auctions. The instructions should include at least the following information:

• The title and number of the auction
• The total due, including shipping
• Your terms and conditions (best taken directly from the listing)
• How you wish to receive the money
• Your full name and mailing address

I use a post office box as I feel safe having any amount of money arrive there. I don't feel safe having large sums arrive at my mailbox up by the end of the driveway.

For large amounts, I accept only bank money orders and/or cashier checks. If the buyer is in a hurry, tell them to send you their payment Overnight Express or Priority Mail (they are in a rush not YOU!). Don't let buyers pressure you into deviating from your rules. Be very clear as to what the exact total is and state it several times in several different ways so that there can be no confusion.

When your receive the payment take it, by itself, to the bank. Show it to your banker (it is assumed that you have a good relationship with the manager and staff of your bank; if not, create one). Have him make sure that it looks right and that he will clear it for you in the most expedient way, including using the telephone to verify its authenticity.

When you know how long the check will take to clear, email that data to your customer. If they are legit, they will thank you. If they aren't, you will get either a weird and confusing answer or none at all. If it is the latter, let your banker know. You may still have a good transaction, but a red flag has just gone up!

If you have a fraudulent payer, follow the rules set out in the latest edition of AuctionBytes newsletter. http://www.auctionbytes.com/cab/abu/y202/m08/abu0076/s02 If, however, the bank has successfully cleared the money order/cashier's check and placed it on deposit in your banks account with no hold, immediately transfer it to another account. Even to another bank if you like. Then tell your customer that you have your money and how and when you will be shipping.

I know this is complex and should not be used except for really pricey items. But it is nearly foolproof and is better than any online service or any other method.

There are sales every day for thousands and thousands of dollars. It is good to be smart and protect yourself (and your bank and customer).