Paypal and echecks?

[Coug46n2]

Does it drive anyone else nuts to get an echeck payment? Now I have to wait until 7/3 to send. Probably get dinged for slow shipping after the fact. Plus I don't have the cash on hand for the item I want to buy that ends tomorrow.

If paypal pulls from checking normally, what is the point of an echeck?

[Prospect Rush]

Agreed. I currently have 2 pending :(

[t2554]

The problem with an e-check is half the time the buyer doesn't know they are sending it. Every time I get one I let them know that it will be several days until their payment clears and I can't send the item until then. They are all understanding but quite a few of them assume their payment was automatic.

[Krusin]

I think but not 100% sure, e-checks are issued when the buyer doesn't have a credit/debit card as back-up funding.

[Coug46n2]

I think but not 100% sure, e-checks are issued when the buyer doesn't have a credit/debit card as back-up funding.

Ahhhh... makes sense. Don't like it, but makes sense.

[metsy]

i think if someone has a paypal account but no credit card on it they can pay by echeck

i think if you did instant transfer from bank account some banks charge a fee, so people do echeck instead. from paypal website:

An eCheck is a payment that you make directly from your bank account.

Just like a regular check, it usually takes between 3 and 5 business days for an eCheck to clear and the money to appear in the recipient’s PayPal account.

Both eChecks and Instant Transfers are ways to pay with your bank account. With an eCheck, the recipient receives the money in a few days. With an Instant Transfer, the recipient receives the money right away.

To send an eCheck, just link your bank account to your PayPal account.

[imnotded]

i think if someone has a paypal account but no credit card on it they can pay by echeck

i think if you did instant transfer from bank account some banks charge a fee, so people do echeck instead. from paypal website:

An eCheck is a payment that you make directly from your bank account.

Just like a regular check, it usually takes between 3 and 5 business days for an eCheck to clear and the money to appear in the recipient’s PayPal account.

Both eChecks and Instant Transfers are ways to pay with your bank account. With an eCheck, the recipient receives the money in a few days. With an Instant Transfer, the recipient receives the money right away.

To send an eCheck, just link your bank account to your PayPal account.


Only it doesn't take that long anymore. It only takes banks 1 day. PayPal need to get in the 21st century m

[chezball]

Does it drive anyone else nuts to get an echeck payment? Now I have to wait until 7/3 to send. Probably get dinged for slow shipping after the fact. Plus I don't have the cash on hand for the item I want to buy that ends tomorrow.

If paypal pulls from checking normally, what is the point of an echeck?

Yes,I got one a couple of months ago.I was F@CKEN PISSED OFF,takes forever to clear.

[zep]

Not to mention, the buyer can cancel at anytime before it clears. I think I can safely assume that some of those buyers are hoping the seller ships the item before it clears

[VWBUS1978]

echecks are also used by scammers, who hope that you ship the item out before the echeck clears. they then cancel the echeck with the item enroute.

and there is little recourse from a sellers standpoint

[7290morint]

I just received my first eCheck payment. I WILL be waiting until it clears before I send the item.