MCS Consignment Payments19946
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 It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
| I currently get MCS consignment payments by check. Asking those who get paid through PayPal how that is working for them. Do you get charged a fee to receive those funds, in a personal or business account? If a personal account, is there a max you can receive for a specific time period? Do the total payouts show up on a 1099R? Thanks in advance for any input. |
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 Collector
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Rafel private msg quote post Address this user | |
| I send comic books for auction. When the auction is over I have it set up that they keep my money and I use it against auctions I've won. | ||
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
| Yes, I know of that option, but I spend only about 10% of my consignment proceeds with MCS, and I use most of the rest for grading fees on submissions. So that really isn't practical for me. That leaves checks or PayPal. I think those are the 3 options overall, unless someone knows of another. |
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 Beaten by boat oars
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Studley_Dudley private msg quote post Address this user | |
| For consignment payments from MCS issued through Paypal, it is considered a good and services payment so the 3ish% fee is deducted. I don't remember the exact percentage of the fee. | ||
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Collector
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Rjman48 private msg quote post Address this user | |
| Can you set it up as direct deposit with them? | ||
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Collector
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SpiderTim private msg quote post Address this user | |
| if they pay you by Paypal of course you'll get a 1099 | ||
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 Staple topics, nice.
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makahuka private msg quote post Address this user | |
| 🤨 | ||
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
Quote:Originally Posted by Studley_Dudley So you personally have had MCS payments sent to you, fee deducted, or are speaking generally? If the former, it sounds like you are having it sent to a business PayPal account. Do you think it would be the same to a personal account? |
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
Quote:Originally Posted by Rjman48 Good question. I'll have to inquire about that. You can pay THEM with Zelle or Venmo, so maybe they can send payments out that way. |
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Beaten by boat oars
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Studley_Dudley private msg quote post Address this user | |
Quote:Originally Posted by chester15 I remember reading that somewhere but can't seem to find it now so that is why I opted to be paid via check. I would recommend emailing Este at MCS (consign@mycomicshop.com) She would be able to explain the payments more clearly than I could. |
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
Quote:Originally Posted by Studley_Dudley Thanks. That’s probably what I'll end up doing. I was just hoping one of the forum members had direct experience with this. I was fine with checks until one of them temporarily vaporized in the mail flow, causing some concern. It showed up eventually, but it's making me rethink the method. |
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 Collector
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Hcanes private msg quote post Address this user | |
| I had an experience where one check got lost in the mail. I based this off of the email saying a payment was sent and 10 days passing with out receiving it. I contacted MCS they voided the check and I had a new one in a few days. | ||
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
Quote:Originally Posted by Hcanes Wow, that's a very fast response by MCS. When mine didn't show up within a few days of when it usually does (almost like clockwork), I figured it might be lost. Then I would wait a week to make sure, and then contact MCS. From there, I thought it would be another waiting period to be sure it is lost, a stopped check process, maybe a fee involved for that, more waiting for a new check, etc. But the check did show up, a few days later than usual. All this made me rethink the delivery method, due to paranoia. But since it sounds like they fix the problem promptly, should it occur, I think I will leave things as they are. |
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Collector
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Hcanes private msg quote post Address this user | |
| @chester15 the customer service at MCS has always been top tier from my experience. | ||
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Beaten by boat oars
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Studley_Dudley private msg quote post Address this user | |
Quote:Originally Posted by Hcanes I had the same happen a couple years ago on a sizeable check. Este was super cool about getting the missing check voided and I received a new check. Great service. |
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
| Thanks for all the input and good advice! | ||
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