e-Cheques

[oddsandendsoz]

Hi all,

Just wondering if e-cheques are as safe as regular payments through PayPal as regards to chargebacks etc...? It's a long time since I had an e-cheque. Is it as safe, or are there extra safeguards to consider to protect oneselve's?

[lyndal1838]

They are the safest form of payment through paypal.

An echeque comes from the buyers bank account and there is no chargeback option available.

You are still subject to the usual ebay or paypal claims though.

[*tippy*toes*]

As Lyndal said, it's the safest PayPal payment. Do not post the item until it has cleared though. I've had a few bounce. One buyer I sent a message to saying it didn't go through said he had close to $8,000 in that account, so unsure why it should bounce. Normally it's due to lack of funds in the bank account, but every now and then they bounce for no reason.

[clarry100]

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@*tippy*toes* wrote:

As Lyndal said, it's the safest PayPal payment. Do not post the item until it has cleared though. I've had a few bounce. One buyer I sent a message to saying it didn't go through said he had close to $8,000 in that account, so unsure why it should bounce. Normally it's due to lack of funds in the bank account, but every now and then they bounce for no reason.

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Yes... we had one bounce after 3-days pending last week or so.

Contacted the buyer about it and they had no idea why it should have even been an echeque.

Their card details were up to date and there were suffucient funds in their account.

So the buyer did a direct deposit into our bank account and that came thru overnight.

We mailed that same day.

The buyer seemed very happy with our help albeit their order was delayed a few days whilst all this happened.

Som I'm at a bit of a loss as to why these even happen at all.

[*tippy*toes*]

They mostly happen when the full amount is coming out of a regular bank account......or so I'm lead to believe. Even if there is 2c coming out of PayPal, it's considered a PayPal payment, so doesn't spawn one. I couldn't work out for a long time why people would pay using an eCheque because of the time it takes to clear. I had no idea how they even sent them. I often used to buy using funds from my bank account (through PayPal) and it always went straight through.

That was until about a year ago when I had no money in my PayPal and a message came up saying if I used my bank account, the funds would be sent as an eCheque. What the?? I changed the funding source to my credit card so it would go straight through. A few times since I have been told it would be an eCheque if I used my bank account. No idea why for years it would go through and now it has the week long delay.

Edit: I also meant to say that if I get one, I send the buyer a message letting them know because most of the time they have no idea (even though the message is bright red that this payment will be sent as an eCheque). I make them aware that I can't post until it clears and I'll let them know when that happens.

[expanded_perceptions]

Thanks for the replies guys! I find it hard to remember sometimes what the risks are withe payments. Cheque cleared, but good reminder to wait to make sure they do clear first.

[collect247]

I can't wait until SEPT 2017 this is when all and any payments/transactions are supposed to clear/process immediately 

[*tippy*toes*]

You got me all excited there for a minute. I thought you were implying you were allowed to sell again and the 21 day hold will be up in September! I was about to do the happy dance for you.

[collect247]

But that may soon be possible just waiting for an outcome 

[digital*ghost]

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@*tippy*toes* wrote:

That was until about a year ago when I had no money in my PayPal and a message came up saying if I used my bank account, the funds would be sent as an eCheque. What the??

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It depends on whether there's a debit card on file or not - my payments used to be processed as eCheques if my bank account was drawn on, until I got a Visa debit card and used that to back up the funding source. 

Also just wanted to add that while bank chargebacks aren't possible, "unathorised transaction" claims are, even for eCheques (PayPal provides this option - as in, unauthorised use of the PayPal account), so it's best to keep that in mind when deciding how to send something.