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?,

[2106greencat]

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.

[kustomizer99]

'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.

[kustomizer99]

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.

[lyndal1838]

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

[putney32]

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.

[kustomizer99]

'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.

[davewil1964]

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.

[kustomizer99]

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.