Anyone have a clue how PayPal e-check works?

[riptrack44]

How is it different from them just taking the money out of your bank account? Thanks for any info.

 

[riptrack44]

How is it different from them just taking the money out of your bank account? Thanks for any info.

 

[Jerry in SC]

Same as a checking account, it still has to clear the bank. It's a bit faster than a regular check most of the time.

 

[jkc]

Not sure I understand your question, but that's never interfered with my answers before, so I'll take a stab at it... PayPal acts as an intermediary, protecting your anonymity, your account info, etc., sort of like an escrow agent. They also claim to afford some fraud protection, but I can't think they have any power to force anybody to do the "right thing" other than freezing the account and locking up your funds. I never leave any significant funds in my account against the possibility that they'll take umbrage at some purchase they consider illicit or some such. If this is not helpful or even wrong, it is at least not inconsistent with most of my replies...

 

[sparkgap]

I'll add to what Jerry in Sc said. Do not ship something to someone until PayPal tells you the check has cleared.

If your buying something and paying with a PayPal E-check it will cause a delay in receiving your purchase.

I don't do E-Checks because thats were all my money is.

I would rather have PayPal charge my CC, if there is fraud, the CC company will cover it.

I very seldom do PayPal because of their anti-gun stance.

Bob

 

[J. Galt]

Yes, it works SLOWLY!

I never could figure out why anyone would want to use it.

 

[shovelwrench]

It ussualy means the person sending money does'nt have a credit card backing their direct bank transfers.

If you can only send an e-check, either our card is expired, or you never registered one with Paypal.

Do not send an Item you've been paid for till the e-check clears, its just like writing a personal check.

 

[shovelwrench]

Originally posted by sparkgap:

If your buying something and paying with a PayPal E-check it will cause a delay in receiving your purchase.

I don't do E-Checks because thats were all my money is.

I would rather have PayPal charge my CC, if there is fraud, the CC company will cover it.

I very seldom do PayPal because of their anti-gun stance.

Bob

If you "get verified" with Paypal, they will withdraw directly from your checking...AND whenever I buy/sell gun stuff I just either, don't say what it is, or make somethin up. Bought more then one gun through Paypl.

 

[m657]

I had a very unpleasant unnecessary run in with them years ago.

I don't care how they work.

 

[morsecode]

The echeck thing is ok if you're the buyer, not so great for sellers. I also never leave any significant amount of money in my paypal accout, so when I want to buy something they take it from my secondary funding source, which would be my checking. They say it takes up to 5 days to clear the seller's paypal account.

What stinks for the seller is that he's paying ebay (usually it's about ebay) listing and selling fees, then paying paypal fees (owned by ebay of course) for what are supposed to be "instant" payments....which take 5 days to clear.

Kinda of like the good old days when you'd just send somebody a check or money order, it didn't cost you a dime, and you had your cash in 5 days.

 

[colubrid1]

http://www.paypalsucks.com/forums/