Clearing paypal echecks

[duujogl]

Have I just been napping lately or is it suddenly taking a heck of a lot longer for echecks to clear? And Paypal seems to be contradicting themselves - when you click on "details" for a payment on the overview page, it tells you the expected clearing date for this echeck and lately it's been 10 days! They still say, at the bottom of the page, that they normally take 3 - 4 business days. I can't figure any way that 3-4 business days takes 10 calendar days - even with long weekends thrown in! Hmmmm.......

Glenda

[westernstargifts]

I found for awhile that they were taking longer. The other day I had several that cleared in one day on the weekend. Hmmmm......

[rex39_2000]

I've been having the same problem, takes too long!

[futuretech_liquidations]

eCheck payments clearing time largely depends on the payee's bank meaning that if they deal with a large national bank then payment is usually alot quicker - however if they deal with a small local/regional bank, and or credit union then payment from those type of banks will be much longer.

This is what I have been told by PP when I called in once to see why the payment was talking so long to clear.

TIM @ FTL

[duujogl]

If that's the case, we might as well encourage paper cheques - Canada Post works faster than that!!
Glenda

[scouttech-outfitters]

I find it encourages more of the customers to pay instantly, I've even been have quite a # (after they see the real clearing time) offer to do so afterwards.

[futuretech_liquidations]

We recently experience a user that paid via echeck and then after the item shipped they did a bank reversal stating their account was illegally accessed.

Paypal froze the funds and said it would take 10 or more days for them to look into it ==> we told them NOWAY, sales was covered under SPP and therefore we wanted our funds released ASAP - they said ah OK but you still have to wait ten days before that is done -- 10 days later funds were released.

24hrs later buyer files a ITEM SIGNIFICANTLY NOT AS DESCRIBED - Paypal then freezes money once again.

Needless to say the PAYPAL system sucks since the same user was able to open two disputes for the same transaction. After are more indepth discussion with a knowledgeable Paypal rep. it appears the initial BANK reversal dispute was opened by PAYPAL and not the buyer so that is why the buyer was able to open a dispute.

Go figure...does not matter how the buyer pays with PAYPAL they will and can clawback either one so you have to make sure you are covered under SPP - especially for high ticket items.

Regards,

TIM @ FTL