posted on June 20, 2006 05:07:23 PM
After I filed a NPB notice - she sent me an e-check which was to clear in 5 days - at the end of 5 days I checked and it didn't clear. Paypal said it would clear in another 12 days. What??? I wrote the winner and she said her bank said the next Monday. Monday came and went, it's still not clear nor has she emailed with any information.
How long do I need to wait?
posted on June 20, 2006 05:12:35 PM
You need to wait until it clears. At this point, you have nothing more than an I.O.U. If you get tired of waiting, tell her to send you a money order. You can refund the Echeck if and when it ever clears.
If Murphy's law is correct, everything East of the San Andreas Fault will slide into the Atlantic
posted on June 20, 2006 05:35:37 PM
What's with those echecks anyway? It's unusual that I get echecks at all ... maybe one every couple of months. Right now, I have two pending, and one that didn't clear and got me a neg (true, true).
Seems that PP puts a hold on funds just like a credit card even with an echeck, and if you refund, it takes as many days to clear back into their account as a credit. I didn't know that, and since the buyer didn't read her refund notice, she didn't either. As a result, her checking account had several other checks bounce, and of course, the "real check" didn't clear. Obviously my fault for putting the echecks through twice.
I have to remember that it's rare that I really dislike my bidders!
posted on June 21, 2006 04:32:38 AM
I sometimes used to mail before an e-check cleared, but not since I had one not clear after mailing. If the buyer is from Canada, it can take 12-14 days to clear, even though I also live in Canada. I just had 2 not clear from a US buyer, the buyer sent them again, and they finally cleared yesterday, took a total of 5 weeks! I just tell buyers when I receive them that I won't mail until they clear.
posted on June 21, 2006 06:13:46 AM
I don't get very many e-checks. Usually they take from 4-7 days to clear. Since I "hold" for personal checks for 10 days, I don't consider this to be an "out of the ordinary" amount of time.
posted on June 21, 2006 07:52:20 AM
I must be one of the few that receives many e-checks. In my experience, the average time it takes to clear is 7 days, however it is not unusual to take as long as 21 days.
Lady,
You will need to be patient as this is a PayPal problem. Like ebay, PayPal is just as goofed up.
posted on June 22, 2006 06:11:55 PM
I would have thought with the new US Federal banking regulations covering US checks that e-checks would have been processed faster. Most bank to bank transfers in Europe, Japan, Australia and NZ are same or next day; checks are seldom used internationally since the advent of electronic banking in the late 80s.
posted on June 22, 2006 06:49:22 PM
I don't mean to hi-jack this thread but y'all are so knowledgeable in banking matters. Can I use money in my PayPal account to transfer money to a European bank? I'm interested in buying at an off-ebay European e-auction, most sellers there do not accept PayPal but do accept wire transfers.
