PayPal: "Pending Bank Transer"?

[shooger]

I just got an email from what appears to be PayPal. It's something I've never seen before.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Notification of Pending Bank Transfer

Dear Daron Rutter,

The sender of the transaction listed below has received the information necessary to complete a bank transfer to you.

It is now the sender's responsibility to take the final steps to complete the transaction. If no action is taken within 7 days, PayPal will email the sender a reminder.

If the sender does not responded after 30 days, the transaction will be automatically cancelled. PayPal cannot require the sender to complete the transaction.

You will not be able to view this transaction in your PayPal Account Overview until 3 to 4 business days after the sender completes the payment.

Amount: $7.98 USD

Shipping & Handling: $6.00 USD

Insurance: $0.00 USD

Total Amount: $41.65 USD

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

This is news to me! Besides the fact that the "amount" plus "S/H" don't add up to the "total", the whole thing seems odd. Why does the buyer now have my bank info? I never released it to him, or authorized PayPal to release it to him! Is this payment going to end up in one of the bank accounts I have associated with PayPal?

I haven't changed any of my PayPal settings recently. So assuming this isn't a hoax email (which in some ways it sounds like), have I just never run into this before, or is it something new? If anyone has a link to an announcement about this "bank transfer" feature, I'd love to see it!

[mahsauction]

I would think its a hoax, you can't view the transaction in your paypal account overview seems strange as well. I would forward it to spoof@paypal.com to see what they say.

[vesivus]

I got a message just like this. But the sender is an actual customer of mine, and the totals do match what I sent him for an invoice.

It's new to me to, though! Is PayPal doing some upgrading or something?

John

[mahsauction]

Come to think of it in Canada there are two payment methods now, Echeck and Bank Transfer. I would have figured that the transaction would still show up in your Account Overveiw as a pending transaction.

[shooger]

Well if I'm not the only one getting it, then it must be real... but I really wish PayPal would have said something about it. I didn't know I was accepting direct payments to my bank accounts. In fact, I don't really want it to go to my bank account. 😞

[rd1000]

I received that from a buyer in Germany. It is not asking you to click on anything or fill in any information, so it is unlikely a hoax. Strange that the totals would be off though.

[mahsauction]

I see this in the paypal info:

What is Instant Transfer?

With an Instant Transfer, the money is instantly credited to the recipient's PayPal account. To use Instant Transfer, PayPal requires that you have a back up funding source registered, such as a credit card or debit card. That way, if your bank declines the funds transfer, the transaction is charged to the back up source. You will choose the back up funding source for each payment from the Payment Details page before you send your payment.

and

What is an eCheck?

An eCheck is an electronic funds transfer that withdraws money directly from your bank account. It's just like writing a check, only it is done electronically. When you send money with an eCheck, the transaction will be held as pending for 3-4 business days, until the electronic funds transfer has cleared your bank.

So the email doesn't make sense.

[shooger]

Well, the email refers to a "Pending Bank Transfer" not an eCheck or an Instant Transfer. So maybe PayPal just hasn't updated their FAQ yet... nor have they informed their members that they are now accepting these new payment types. I would have liked to know!

Update: nothing has happened. I wonder how long something like this takes? And will the money end up in one of my bank accounts? 😞

[vesivus]

I'm still waiting for my payment, too, Shooger. The transanction in eBay's SMP is displaying an icon the same that is displayed for pending eCheck... so waiting am I. Yesssss. 🙂

John

[zarzuella]

A week ago I got the same thing - My buyer is also in Germany. She appears to have given up on the transfer, as I just got a regular payment notification and the transaction now shows in my Paypal account.

[rd1000]

I received notification of the cleared payment about 3 days after I got the above mentioned email. It went very smooth. It was the only one I have ever received though.

[shooger]

Yeah, but where does the money end up?

[rd1000]

in your account, just as with other payments.

[vesivus]

In your paypal account? (And my buyer is in Germany, too!)

[shooger]

In the PayPal account, or one of the attached Bank Accounts?

The type of payment is called "Pending Bank Transer".

[rd1000]

Mine was deposited in my Paypal account

[recped]

YES IN YOUR PAYPAL ACCOUNT

sorry to shout....the "pending bank transfer" is from the buyers bank to PayPal.

It's possible (only a guess) that the "total" in the email differs because the buyer has initiated more than one payment top be funded by one bank transfer.

I've not had this particular PayPal email but did have one similar, also had the 10 day waiting period indicated but the payment came through in 6 or 7 days.

Ben

[shooger]

There's no need to be rude, recped. I was just asking for an answer, not rudeness. 😐

If the payment goes to your PayPal account from the buyer's bank account, then it's just like an "eCheck". Maybe PayPal changed the name and didn't mention it to us.

[zarzuella]

Perhaps international transfers are termed 'transfer' rather than echeque - Paypal cannot confirm those bank accounts in the same way they can with US & domestic banks.

[recped]

Sooger wrote:

There's no need to be rude, recped

Your question was answered several times but you kept asking the same question. If my "shouting" offended you I'm sorry, if you read my post I apologized in advance.

Ben