topic Re: PyaPal Echeques ,Clearing Times in Selling

PyaPal Echeques ,Clearing Times

keyrings — Thu, 02 May 2013 20:35:37 GMT

Ok , we all know that Paypal say 3-5 days and i for one , have never had clear before 5 days, usually 6 days.

Even had one take 9 working days!

So the questions here is, what time frames are the norm?

Should PayPal update the statement from 3-5 working days to whenever we feel like like it?,

Re: PyaPal Echeques ,Clearing Times

zenremix777 — Thu, 02 May 2013 22:52:33 GMT

You should be given an exact date by which the eCheque is supposed to clear. Check your PayPal account for what the date is. From memory, that date is pretty accurate, give or take a day or two. eCheque's aren't good if you need the money fast.

Re: PyaPal Echeques ,Clearing Times

plonkacolin — Fri, 03 May 2013 04:15:43 GMT

over easter I had 2 that took 12 day and 13 days to clear

Re: PyaPal Echeques ,Clearing Times

keyrings — Fri, 03 May 2013 06:00:11 GMT

over easter I had 2 that took 12 day and 13 days to clear

Yeah holidays can really slow things down but thats why i said working days,I don't count weekends or public holidays ,

Re: PyaPal Echeques ,Clearing Times

kopenhagen5 — Fri, 03 May 2013 06:07:10 GMT

All mine have cleared minimum 5 days, sometimes 6.

It appears the norm is 5 working days. 😞

Re: PyaPal Echeques ,Clearing Times

aspie*mum — Fri, 03 May 2013 06:09:56 GMT

I want to know WHERE the money is between the time it's taken from my bank account to the time the seller gets it? Sitting in PayPals bank account accruing interest no doubt?

I recently accidentally paid via echeque - my default payment option is to come from my bank account and I manually change it to credit card each time. A few weeks ago I forgot so the seller had to sit around waiting for the echeque to clear.

Now, what annoyed me was, on DAY 3, the money was taken out of my account by paypal BUT it didn't arrive into the sellers paypal account until DAY 7.

So for 4 days it was WHERE? The bank assures me that they don't have it and PayPal does. I rang up PayPal and they insisted they DIDN'T have it (even though it was showing as taken out of my bank account via PayPal).

So.....where was it? Not in my bank account, according to the bank - not in theirs, and PayPal says NOPE, they didn't have it.

I call BS on PayPal and the reason that echeques take so long to process is something to do with PayPal and what they do with our/the sellers money whilst saying they are waiting for the echeque to clear!

Re: PyaPal Echeques ,Clearing Times

patchoo78 — Fri, 03 May 2013 06:23:22 GMT

Now, what annoyed me was, on DAY 3, the money was taken out of my account by paypal BUT it didn't arrive into the sellers paypal account until DAY 7.

That shouldn't have happened if you have a credit card on file.. If you don't and you attemp to pay with bank balance then it will go through as an echeque and take ages to clear, but as you had a Credit card on file then it should have gone through as an instant bank transfer

I have never had to pay with an echeque as I have a debit card on file so it goes through instantly, however there is some delay in the money actually leaving my account

Re: PyaPal Echeques ,Clearing Times

the_hawk* — Fri, 03 May 2013 08:18:44 GMT

over easter I had 2 that took 12 day and 13 days to clear

I have found that some transactions the banks wont process over a week end or public holiday

Re: PyaPal Echeques ,Clearing Times

kustomizer99 — Fri, 03 May 2013 09:33:34 GMT

What ARE echeques??? I have one now, was supposed to have cleared today but did not. The last time I got one it didn't clear, but the Harvard graduates at eBay marked it as 'payment received'!~!!!

Re: PyaPal Echeques ,Clearing Times

lyndal1838 — Fri, 03 May 2013 20:18:31 GMT

It is called an echeque when the payment comes from the buyers bank account and they do not have a credit card on file with paypal.

It is exactly like a paper cheque...it takes time to clear between paypal and the buyer's bank and can be held up even longer if there is insufficient money in the ban account and paypal has to do the transaction again.

Re: PyaPal Echeques ,Clearing Times

2106greencat — Fri, 03 May 2013 22:07:07 GMT

What ARE echeques??? I have one now, was supposed to have cleared today but did not. The last time I got one it didn't clear, but the Harvard graduates at eBay marked it as 'payment received'!~!!!

It most definitely should not have been marked payment received.

It should show as an hourglass and when you hover the mouse over it you will see Payment Pending and advice ' paid by e-cheque', and tha paypal notice you receive via email will advise Not to send until payment is cleared/received.

Re: PyaPal Echeques ,Clearing Times

kustomizer99 — Sat, 04 May 2013 07:26:43 GMT

'It most definitely should not have been marked payment received.'

But it was and I wasn't able to get a final fee credit as according to eBay, it had been paid.

After trying to communicate with them via email (they can't read very well, apparently) I had to get on the phone and eventually it was sorted out. It's just annoying the amount of time I had to waste on somebody else's failure to do what they were supposed to do.

Re: PyaPal Echeques ,Clearing Times

kustomizer99 — Sat, 04 May 2013 08:37:29 GMT

The eCheque I got last week is STILL saying 'will clear on May 3'.... well, that's come and gone and it has not cleared. A little COMPETENCE would not go astray, PayPal.

Re: PyaPal Echeques ,Clearing Times

lyndal1838 — Sat, 04 May 2013 09:29:26 GMT

It is still May 3 in the USA....everything related to paypal is based on USA time.

Re: PyaPal Echeques ,Clearing Times

putney32 — Sat, 04 May 2013 09:43:41 GMT

someone asked 'Where does the money go?"

well put simply it is like a paper cheque trail.

the $ comes out of your bank account 'earmarked' for PayPal..

the $ then goes to your bank's Clearing House

the $ then goes from your to PayPal's Clearing House

the $ then goes from their Clearing House to Paypal a/c

the $ is then marked as received by PayPal and they transfer it to the Sellers a/c

so yes, it takes time, more time even if Your bank account is actually a Cr.Union or one of the 'not Big 4 Banks" where there is then another step from your c/union to the Cr.Union's Bank, and then to the Banks Clearing House.

and yes, clearance date is always USA date, so one business day later for Aussies.

Re: PyaPal Echeques ,Clearing Times

kustomizer99 — Sat, 04 May 2013 10:25:23 GMT

'and yes, clearance date is always USA date, so one business day later for Aussies.'

Why should it matter if it's a business day here if it's based on USA time? For example, my eCheque is supposed to clear on Friday USA time (which it hasn't if it's supposed to be West Coast time)), so I should have it in my account on Saturday Aust time.

Re: PyaPal Echeques ,Clearing Times

davewil1964 — Sat, 04 May 2013 12:10:21 GMT

That's BS, kustom. It works on Oz time.

And what you, with your vast experience, should realise is that an eCheque is funds from a bank account and cannot be subject to a Credit Card chargeback down the line. It is the safest method of Paypal payment. As such I (and all sellers should) welcome it.

Re: PyaPal Echeques ,Clearing Times

kustomizer99 — Sun, 05 May 2013 01:14:28 GMT

The eCheque someone sent me is still saying in PP that it will clear on May 3. As we know, that's in the past, even in the USA. How strange.