Paypal echeck and unreasonable wait times

[nan*55]

Had a item paid for on Jan 9th. ( Canadian buyer) Paypal payment is pending and expected to clear JAN 21st.

Sheesh in this day and age I think they could speed that up some.

[mr.elmwood]

I "think" this is because it has to go to Omaha and back through New York.

[reallynicestamps]

Yes. Basically because the eCheque is being processed by an American company (paypal) it has to clear two banking systems.

Most do clear faster than predicted, fortunately.

Better to say Jan. 21 and clear on Jan15, than to say Jan 15 and clear on Jan 21 or even 16.

[northern*electric]

If there's a credit card linked to the account, the eCheque may clear immediately. I've paid by eCheque before and it cleared instantly.

[pierrelebel]

"in this day and age I think they could speed that up some."

You are correct.  The delay goes back to 2000 when PayPal first started serving the Canadian market and did not have the tools to do the job quickly.  Today, PayPal clears an echeck in three business days if the buyer lives in the USA, same if the buyer lives in Australia!

Yet, their system still requires seven to ten business days to clear the funds to the seller if the buyer uses the Canadian banking system.  It is a bloody shame.

[pjcdn2005]

I was surprised when a UK buyer's echeque cleared in 3 or 4 days..much less than a Canadian one. That doesn't make much sense.