posted on November 22, 2004 11:32:48 AM new
This board is great. I have questions from time to time and the people on this board have always been so helpful. So here goes.
When a buyer has paid with an E-Check through PayPal, they send an email letting you know not to send the item until the E-Check clears which is about four business days.
I always wait for PayPal to confirm the check has cleared and then send the item.
In the past I have always waited for that confirmation. Would you say this is being too cautious? What do you guys usually do in this case? Thanks again!
posted on November 22, 2004 11:47:47 AM new
Hi davidsmom ... if they have oodles of great feedback, we ship right away ... if sort of a newbie and sort of a pricey amount, we wait till we hear from paypal that it cleared.
posted on November 22, 2004 11:52:15 AM new
No, I wouldn't say you're being too cautious at all.
Sometimes it takes MUCH longer for an e-check to clear and on occasion they come back as "denied" (not always due to any fault of the person trying to pay - ie. something goes wrong on Paypal's end). If you send the item and the e-check doesn't clear for any reason, you have little recourse other than to hope your buyer is honest and eventually follows through to pay you.
Of course, someone with more experience may stop by with better advice for you, but I've always felt it's best to have the "cash" on hand before the merchandise goes out the door.
posted on November 22, 2004 12:27:59 PM new
Normally I'd hold the E-check until it clears. There may be exceptions down the road, though--maybe a repeat buyer. Generally I've been pretty cautious about those checks.
posted on November 22, 2004 01:23:00 PM new
I used to mail packages when the amount was under $20, or the buyer had good feedback, until I had one that was denied. Neither the buyer or Paypal let me know, and it was about 2 weeks later that I discovered it. Thankfully, it was one that I held. Now I hold them all until they clear.
posted on November 22, 2004 09:37:24 PM newIn the past I have always waited for that confirmation.
Good for you. Sending anything before you get the confirmation is simply irresponsible on the sellers part. Since you wait, you are doing exactly what you should be doing. In my experience, I see roughly 5% of Echecks that do not clear, so I have always and will always continue to wait for the official Okay Doughkay.
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Alive in 2005
posted on November 22, 2004 10:10:30 PM new
5%!!! - I've NEVER had an echeck that didn't clear, and I've dealt with hundreds of them. You do have to be more cautious with them, they aren't the same as a regular check where you can easily go after them it they don't make good on the check.
I look at the amount of the echeck, whether or not they are a repeat customer, and their feedback. I then decide if I want to hold back or ship.
posted on November 23, 2004 07:03:52 AM new
I have only received a few EChecks but one of them I did receive was denied. The bidder never paid up. I never shipped so it worked out, neg and all!
