eBay bidder pays with PayPal echeck, hasn't cleared yet?

commoncents05 · June 23, 2008 1:04PM

PayPal says the bidder payed using an e-check, and the funds haven't cleared the account yet. The bidder only has 7 feedbacks. Should I be cautious? Thanks in advance for the help.

-Paul

morgansforever · June 23, 2008 1:05PM

I've had Echecks that took 6 days to clear.

It will be alright.

beartracks42 · June 23, 2008 1:05PM

Paypal echecks can take several days to clear...I have no idea why, since they always come out of my checking acct.

mrearlygold · June 23, 2008 1:06PM

<< I've had Echecks that took 6 days to clear.

>>

Me too

notwilight · June 23, 2008 1:08PM

You should be thankful for the fee savings. --Jerry

thisnamztaken · June 23, 2008 1:14PM

I wouldn't lose any sleep over it. I've had a few payments by "e-check" and they usually take about 4 business days to clear.

adamlaneus · June 23, 2008 1:30PM

<< PayPal says the bidder payed using an e-check, and the funds haven't cleared the account yet. The bidder only has 7 feedbacks. Should I be cautious? Thanks in advance for the help.

-Paul >>

Just make certain that you wait until the funds actually clear.

One 'eCheck' transaction changed to a 'Cancelled' status about 8 days later. The buyer bounced a check and PayPal indicated it was 'cancelled'. The buyer never communicated with me but did end up getting other negative feedbacks for bouncing checks on other buyers (back in the day when a buyer could get a negative feedback)

19Lyds · June 23, 2008 1:45PM

Check your PayPal account. It shpuld tell you an expected clear date.

For the learned in the crowd, is there any way to specify echeck only for your eBay auctions?

BAJJERFAN · June 23, 2008 2:17PM

<< Check your PayPal account. It shpuld tell you an expected clear date.

For the learned in the crowd, is there any way to specify echeck only for your eBay auctions? >>

If you accept PP you have to accept ALL forms of payment IIRC.

BAJJERFAN · June 23, 2008 2:19PM

<< Paypal echecks can take several days to clear...I have no idea why, since they always come out of my checking acct. >>

Because they can use and earn interest on your $$$ for free for the 6 days. Since they don't make much on it, they don't give it priority either.

Boom · June 23, 2008 2:51PM

If it takes a while just look at it this way. PayPal is earning some of that Fee money by looking after YOUR best interest as seller.

Due cause for alarm? NO! Only if you ship before PayPal advises you it is safe to do so.

I Welcome e checks, especially if the figure is somewhat hefty.

This is PayPal's way of making sure buyers are real & verified.

mrcommem · June 25, 2008 3:38AM

If you have a credit card backing-up your checking account you won't have an e-check issued. I found this out when e-checks started being issues for my payments through paypal when my credit card on file expired. Evidently e-checks don't always clear the bank.

notwilight · June 25, 2008 3:41AM

<< If you have a credit card backing-up your checking account you won't have an e-check issued. I found this out when e-checks started being issues for my payments through paypal when my credit card on file expired. Evidently e-checks don't always clear the bank. >>

This is mis-information. If you have a credit card the e-check will not be default. You can still choose e-check but have to do it for each payment. --Jerry

blu62vette · June 25, 2008 3:49AM

<< You should be thankful for the fee savings. --Jerry >>

I got a echeck the other day and they took a fee!

segoja · June 25, 2008 3:52AM

Be cautious until the e-check clears, they can still be stopped by the sender.

Had that happen on a $15 item, unfortunately I had already shipped it. Sender doesn't even have to provide a reason, and paypal said too bad because I sent the item before it cleared. You can't even alert anyone through paypal that the person canceled payment.

With Paypal, you better play by the rules, or you will lose if the buyer files a dispute.

Raybob15239 · June 25, 2008 3:52AM

Some e checks can take up to 8-10 days (calendar days) to clear, especially if there is a weekend in the equation. Keep lines of communication open w/ buyer. Send an email letting him know that you are waiting for the echeck to clear and that you'll contact him when it does so that he doesn't neg you for taking too long to deliver. The longest I had was 10 days. Don't know why it took so long, but I kept the buyer in the loop so that they knew I wasn't taking my time shipping it out.

notwilight · June 25, 2008 3:55AM

<< 

<< You should be thankful for the fee savings. --Jerry >>

I got a echeck the other day and they took a fee! >>

But the fee is capped at $5, quite a saving on an expensive item. --Jerry

SirAnthonyAC · June 25, 2008 3:59AM

E checks take a few days but, the really really good part is the max Pay Pal fee is $5.00 that's it or the normal 2.9% which ever is less!

I had an E Check purchase on my 1000 coin lot, $1200.00 and only a $5 Pal Pal Fee... compared to $19 on a $500 transaction...
E Checks are SUPER SWEET!

BTW: You can see in Pal Pal when it clears and the reason it takes longer to clear is, the bidder's Pay Pal account is linked to his checking account but doesn't have a credit card backup... checking account only.

GFourDriver · June 25, 2008 4:00AM

I wouldn't worry about it Paul, just don't send the coin till the check clears and you'll be OK.

notwilight · June 25, 2008 4:55AM

<< E checks take a few days but, the really really good part is the max Pay Pal fee is $5.00 that's it or the normal 2.9% which ever is less! I had an E Check purchase on my 1000 coin lot, $1200.00 and only a $5 Pal Pal Fee... compared to $19 on a $500 transaction... E Checks are SUPER SWEET! BTW: You can see in Pal Pal when it clears and the reason it takes longer to clear is, the bidder's Pay Pal account is linked to his checking account but doesn't have a credit card backup... checking account only. >>

No, this has misinformation in it too. You can use an e-check even if you have a credit card backup. My paypal account has two credit cards and a bank acount linked to it. But I can send you an e-check. I often have to walk buyers thru this on the phone when I sell them a coin and we agree on a price by e-check. Click "other payment options" click "e-check" and you'll send an e-check.

the reason it takes longer is because tradiditionally checks take longer. The truth is they ae collecting interest on the money "in transit" and they also want you to be impatient and use "instant payment" which has a higher fee.
--Jerry

kieferscoins · June 25, 2008 8:20AM

I just had a $525 echeck sent on 6/19 that was supposed to clear today but now says July 9th????

I'm not shipping it till it clears.

Cameron Kiefer

eBay bidder pays with PayPal echeck, hasn't cleared yet?

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