Paypal now taking 11-15 business days to process e-checks

GFourDriver · May 20, 2008 6:26AM

I bought a 1909-D Indian head $5 Gold a week ago last Sunday, paid for it the same day and was $1.40 short of the total amt in my paypal account so it was paid by e-check. I looked today and it still hadn't cleared so I decided to give them a call.

They say the reason that they are currently taking 11-15 days to process is because they are experiencing an issue with the Federal Reserve ACH transfer system and this should not happen again going forward.

Oh yeah they are terribly sorry for any inconvenience that this has caused in the meantime. Our engineers have told us that these funds should be clearing on Wednesday evening (05/21/08). I could walk to the west coast faster than this and I'm in GA.

Has anyone else run into this BS?

ArizonaJack · May 20, 2008 6:30AM

Yes, I was paid by ECheck thru Paypal over a week ago, still not cleared

GoldenEyeNumismatics · May 20, 2008 6:31AM

I'm waiting on $3500 in echecks to be deposited in my paypal account. Not only is it annoying for me to wait, but the money has already been removed from the buyer's accounts, and they're all getting worried.

DJCoinz · May 20, 2008 6:33AM

Great. Just got an echeck payment yesterday and now it sounds like I'll be waiting a while.

messydesk · May 20, 2008 6:33AM

<< <i>Yes, I was paid by ECheck thru Paypal over a week ago, still not cleared >>

Rest assured the buyer will blame you in feedback.

ArizonaJack · May 20, 2008 6:34AM

<< <i>

<< <i>Yes, I was paid by ECheck thru Paypal over a week ago, still not cleared >>

Rest assured the buyer will blame you in feedback. >>

Good point...I had better email them, THANKS

lkeigwin · May 20, 2008 6:38AM

May 8 e-check from a buyer cleared May 14. Seemed pretty average to me.

GFourDriver · May 20, 2008 6:41AM

<<<May 8 e-check from a buyer cleared May 14. Seemed pretty average to me.>>>

Looks like you made it just before they started "having issues" Mine posted on May 12 and cleared my bank on the 13th but still uncleared according to paypal.

John

carzzy · May 20, 2008 6:45AM

Funny how I see this thread immediately after getting off the phone with PayPal. I won't get into lengthly details of our conversation, but I can tell you, that you will not get any satisfaction from Paypal in any dispute!!!! You would be better off talking to a stop sign....at least it say's "STOP!

braddick · May 20, 2008 6:47AM

And sellers can look forward to negative feedback for slow shipping...

Russ · May 20, 2008 7:04AM

There is a problem that effects a narrow date range. I have six that were processed on the 11th, and were supposed to clear on the 15th. To date, PayPal has made no announcment about this other than a couple posts in the PayPal forum. Fortunately, the last PayPal CSR I spoke with actually had a brain, and sent eMails to all six of my buyers.

Russ, NCNE

Russ · May 20, 2008 7:06AM

<< <i>They say the reason that they are currently taking 11-15 days to process is because they are experiencing an issue with the Federal Reserve ACH transfer system >>

That's one of several lies PayPal reps have been spreading. The problem is in their system, not the Feds.

Russ, NCNE

GFourDriver · May 20, 2008 7:15AM

<<<<< They say the reason that they are currently taking 11-15 days to process is because they are experiencing an issue with the Federal Reserve ACH transfer system >>

That's one of several lies PayPal reps have been spreading. The problem is in their system, not the Feds.

Russ, NCNE >>>

Agh! Whats worse, the inconvenience of it or being lied to by their reps?

Boom · May 20, 2008 7:19AM

This is EXACTLY what I was just told by PayPal, moments ago.

I was paid on 5-12, expected to clear on 5-15. Right!

Here we are 5-20 and the agent now tells me that it will now be an additional 2-3 days.

I asked if there were any issues with my account - Answer - No.

At first they tried to say there was an issue with this payment.

This was several days ago. Now the agent tells me there is no problem with the buyer's acct, on whom they first lay blame but that there is now an "issue" with this payment & that it is PAYPAL that has the problem! (With the Fed)

WTH is going on here? I had to try 4 times to get thru. Each time prior it kept hanging up - you know ...

The old "If you want to make a call." So what!/ Now PAYPAL is compromised? Ebay has given free reign to

potential buyers to the extent of a pop up that basically tells them to HAVE AT IT cause sellers can DO Notta!

Man - this stinks bigtime! I think it's a great time for some time OFF!

Boom · May 20, 2008 7:44AM

This is one of the greatest things about these message boards.

Thanks to all that posted here and in particular, thanks to Russ, I called PAYPAL BACK, armed with the

information written here and asked for the Truth after conveying to the CSR that I was looking right at this

thread and that there are several posters ALL saying the same exact thing.

I told her that I realized that this was not her doing any more than it is mine but out there are some customers that are now armed to the teeth, thanx to eBay's immeasurable sagacity & foresight, that are just gonna love this & that I will not take too kindly being negged for something that is NOT my fault, etc -etc-etc.

Bottom line, I asked if she would email my buyers (as Russ suggested) and she has gladly obliged.

Thank you one & all but most of all .... thank you Russ.

Paypal now taking 11-15 business days to process e-checks

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