bubblewrap
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posted on February 1, 2001 10:37:45 AM new
Auction closed and customer wants to pay by "Paypal E-Check". Is this different from a 'regular' Paypal payment? I'm new to the Paypal thing so any help would be appreciated.
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pickersangel
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posted on February 1, 2001 10:55:16 AM new
Yes, and be sure your customer realizes that difference before s/he pays and gets upset because you don't ship immediately. eChecks are debited from the customer's bank account without putting a hold on their credit card to cover the amount (in case the bank account balance is insufficient to cover the draft). Therefore, PayPal instructs sellers not to ship the merchandise until they receive notification that the eCheck has cleared. This takes about 3-4 business days.
always pickersangel everywhere 
http://homepage.netspaceonline.com/~twobar/pickers.htm
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katiyana
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posted on February 1, 2001 12:01:16 PM new
I have one of these now. It appears as "uncompleted" in my inbox and is not included in my current balance. I assume once the funds are offically "there", it'll be completed and added in.
Until then, don't ship.. this was my first Echeck through paypal... I don't mind the delay, i can have the item packaged and ready to go to the PO as soon as it does clear.
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atireus
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posted on February 1, 2001 12:08:59 PM new
I've had three of those PayPal e-checks in the last few weeks. Not a problem at all, but just make sure you wait until you get a "cleared" email from PayPal before you ship. It usually takes 4 days.
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libbyparsons
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posted on February 1, 2001 12:09:52 PM new
You'll get an email once it clears saying that the payment has cleared. It usually only takes a couple of days.
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dannkim
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posted on February 1, 2001 12:31:33 PM new
I got two of these e-checks last week, one cleared yesterday and the other the day before, it took about 4 business days for them to clear and you will get an email from paypal when they clear and the money is added to your account.
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waspstar
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posted on February 1, 2001 12:54:16 PM new
One nice thing about it is that PayPal sends the bidder clear and concise emails stating that PayPal has advised the seller not to ship the item until the payment clears. So you don't have to explain to you buyer why the item is not shipping immediately... They understand from the beginning that PayPal will not authorize payment to the seller until the e-check clears.
"My possessions are causing me suspicion." - Neil Finn
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paypaldamon
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posted on February 1, 2001 08:11:27 PM new
Hi,
Please wait to ship the product until it clears into your account. An echeck is just like an ach transfer and it can take 3-5 days to clear (the sender can cancel until it clears).
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bubblewrap
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posted on February 1, 2001 09:59:07 PM new
Thanks for all the informative responses. I really didn't know all this stuff, but I do now. Thanks everyone.
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argh
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posted on February 1, 2001 10:11:53 PM new
The half dozen or so e-checks I've paid with on PayPal took four or five days to clear. I wish I knew why it took so long...seems like they should be able to do that faster.
What's funny about PayPal's suggestion that sellers not ship until the things have cleared is that now sellers who used to ship to me immediately on personal checks are now waiting until the e-checks clear. So it ends up being about the same amount of time for me before items are shipped. I'm not talking about expecting someone I've never dealt with shipping items before the e-checks clear - these are all sellers with whom I've had a year or two of transactions and who never hold checks. Oh well.
If I were to buy something from a seller who held personal checks, then the e-check would be faster.
Damon: why does it take so long for e-checks to clear??
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paypaldamon
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posted on February 1, 2001 11:33:35 PM new
Hi argh,
Echecks take that long because it is essentially the same thing as a user initiating an add funds request (ach transfer) to their account from their bank account and these take 3-5 business days in most cases.
However, the benefit to the sender is that they don't have to log in to send the payment again (they have already included the email address of the party they are paying and the amount) and they also have the ability of canceling this before it clears (in the event that there is an issue).
They also don't have to put anything in an envelope, write out a check, etc.
The benefit to the recipient is that this is still typically much faster than a check and you don't have to worry about it being lost in the mail (for those using the business/premier accounts they can also download the information for easier record viewing/keeping than paper transactions).
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mballai
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posted on February 2, 2001 05:50:04 AM new
I got my first one of these this morning. I understand why PayPal says not to ship but this is also true of someome putting a stop payment on a check and many sellers do not hold checks to clear, so I am not certain if this is something we should do for this--it's a non-value adding bottleneck to processing a transaction.
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pickersangel
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posted on February 2, 2001 09:33:53 AM new
"One nice thing about it is that PayPal sends the bidder clear and concise emails stating that PayPal has advised the seller not to ship the item until the payment clears. So you don't have to explain to you buyer why the item is not shipping immediately... They understand from the beginning that PayPal will not authorize payment to the seller until the e-check clears.
I wouldn't take any chances. We all know from reading the boards that people absorb only what information is convenient for them, so while paying from your checking account may seem wonderful (rather than adding to your credit card balance), the info about delayed shipping may be "overlooked". Buyers expect IMMEDIATE shipment on items paid for via PayPal. I'd rather give a redundant explanation, than have a buyer up in arms because they paid via PayPal and I didn't ship the next day.
As far as the bottleneck aspect, you're out nothing if you wait to ship and the eCheck doesn't clear. If you ship and the buyer has insufficient funds to cover it, you're on your own. PayPal won't be of any help. I happen to hold personal checks for 10 days (unless I know the buyer), and that may be inadequate for normal check routing procedures. At least when an eCheck clears, you KNOW the money is there.
always pickersangel everywhere
http://homepage.netspaceonline.com/~twobar/pickers.htm
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Greengate
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posted on February 2, 2001 10:23:38 AM new
I use electronic checking with my business, and have had one electronic check via PayPal. Takes about 5 days with everyone.
Something you need to be aware of however. Chargebacks from credit cards are sometimes very difficult for both Buyers and Sellers.
Electronic checks are nearly impossible to reverse or cancel due to government banking regulations. I have been advised by my bank of this situation and told to make sure the payments are correct and there are no plans to reverse the charges. You can't stop payment on an electronic once it has been initiated. There are no charge back issues with an electronic check. This offers some advantages and disadvantages for those using this method. The banking industry is pushing to have us all use electronic banking and it is the wave of the future. ATM Debit cards are the first step in getting us in line for conversion to electronic transfers. In the future you will never see your paycheck or hold the funds you earned.
Thank "World Banking System"
Those of you who know who "Big Brother" is will understand.
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oranthal
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posted on February 2, 2001 01:09:02 PM new
In one aspect echecks are better for the seller because the fee's are slightly lower. That aside, my personal hellish experience with paypal involved an echeck I received. After 4 business days, I received an email stating that the echeck had cleared the Buyer's account. I mailed the item. Later, when I signed onto paypal, it showed the echeck as not being cleared!!!! After 10 business days, I still didn't get the echeck cleared into my paypal account... It took many calls and emails to finally get it fixed. I must say that the customer service for paypal is severely lacking and some of the folks I spoke with were borderline retarded. I think that would have something to do with the lack of educated workers in today's marketplace. Anyway, I don't think this problem had to do with echecks as much as software concerns.. and like I said the fee's are slightly lower...
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sun818
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posted on February 2, 2001 01:31:22 PM new
From the Paypal web-site as of 2/2/2001:
https://secure.paypal.com/cgi-bin/webscr?cmd=p/gen/fees
PayPal Fee Schedule for Premier and Business Accounts
Transaction Amount
Source of funds
Credit Card
under $15
30¢
$15 or more
2.2% + 30¢
Non-Credit Card
(Checking account or PayPal balance)
under $15
30¢
$15 or more
1.6% + 30¢
(maximum fee of $5.00)
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