PyaPal Echeques ,Clearing Times

[keyrings]

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?,

[zenremix777]

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.

[plonkacolin]

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

[keyrings]

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 ,

[kopenhagen5]

All mine have cleared minimum 5 days, sometimes 6.

It appears the norm is 5 working days. 😞

[aspie*mum]

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!

[patchoo78]

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

[the_hawk*]

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

[kustomizer99]

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'!~!!!

[lyndal1838]

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.