merrie
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posted on December 17, 2006 07:07:20 AM
I have wondered this for awhile. Why do people use echecks on PayPal especially this time of year?? They take forever to clear. I once had one from a buyer that took 24 days to clear! Isn't the purpose of PayPal to pay quickly and get your item ASAP? I know the mail may be slow, but I think the time it takes to clear a check through PayPal rivals that. As a seller it is annoying since I pay the same fees whether they use existing funds, credit card or echeck. Am I missing something here??
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toolhound
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posted on December 17, 2006 08:19:59 AM
Here is Paypals reason to use e-check.
When you use eCheck, you don't have to have a credit card or alternate funding source attached to your PayPal account. In addition, using eCheck means you won't incur credit card debt, since the money comes directly out of your bank account. eCheck is like writing a check, only faster and more secure.
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merrie
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posted on December 17, 2006 08:22:48 AM
It is NOT faster!! They take forever to clear.
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amber
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posted on December 17, 2006 08:52:07 AM
I find that it's only the International ones that take ages to clear, the US ones are about 4 days, much quicker than sending a money order.
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roadsmith
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posted on December 17, 2006 08:52:25 AM
Merrie: I'm not sure the purpose for using PayPal is speed, necessarily. PayPal is quicker and easier, and buyers don't have to address an envelope, put a 39-cent stamp on it and an explanation inside as to what the payment is for, etc.
I buy postcards on ebay for our museum, and I'm always glad when a seller accepts PayPal. The alternative takes more time, and it's a nuisance. I'm certainly not thinking of getting the item quicker in those cases--just being more efficient at what I do.
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hwahwa
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posted on December 17, 2006 09:18:24 AM
Getting the buyer protection is a good enough reason to use E check.
If they send you cash or money order,they cant complain to paypal or any cc issuer.
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merrie
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posted on December 17, 2006 10:46:53 AM
You still have recourse through Ebay if you use a check or money order. If you file a nonreceipt of item or a not as described. Ebay will penalize the seller and get your money back.
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hwahwa
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posted on December 17, 2006 10:57:29 AM
How?
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merrie
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posted on December 17, 2006 11:14:55 AM
http://feedback.ebay.com/ws/eBayISAPI.dll?InrCreateDispute
Do not know how to make this clickable.
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hwahwa
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posted on December 17, 2006 12:09:23 PM
thats for buyer,not seller.
I have a bidder who wrote me a rubber check for 385 and got naru'd,I contacted a private co to collect and file with USPS.So far no luck.
I filed with Ebay and get my fees back,thats all Ebay has done.
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merrie
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posted on December 17, 2006 01:02:52 PM
PayPal has never done anything for me as a seller. All of their protection, in my opinion, is beneficial to the buyer.
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toasted36
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posted on December 17, 2006 03:07:34 PM
Thats the best reason for e-checks,you at least know the check is good before sending the item out.
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merrie
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posted on December 17, 2006 03:10:41 PM
I never ship until a regular check clears my bank and it generally takes a lot less time than an echeck through PayPal.
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KarenMx
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posted on December 17, 2006 03:49:19 PM
PayPal's e-checks can't be dishonored by the bank weeks after being "cleared", can they? Buyer-instigated chargebacks or disputes being the exceptions, of course.
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agitprop
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posted on December 17, 2006 04:29:30 PM
PayPal eCheck - what is the point??
PayPal eCheck are a stopgap measure until the USA adopts bank to bank account transfers like most of the OECD. They are based on the archaic paper based payment system called a check or cheque, which have been progressively phased out in most developed countries. PayPal introduction can be traced back to a historical lack of bank to bank account transfers within the USA.
Bank transfers to individual or businesses are FREE within most of the European Union, European Economic Area, Switzerland, Australia and New Zealand. In other OECD countries such as Canada and Japan there is a small fee. Of note, cross-border bank transfers are now FREE within the EU. The world is becoming progressively smaller and more economically dependant as each year passes...
Home of the best eBay auction fee & PayPal calculators: http://auctionfeecalculator.com
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pixiamom
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posted on December 17, 2006 04:35:48 PM
I've never had an e-check bounce yet (knock on wood). On shipping day, I mark all my Paypal pendings as Payment Received to expedite shipping. But then, selling generally lower-priced items to an anally honest market, I never hold shipments for personal checks to clear either.
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hwahwa
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posted on December 17, 2006 05:11:21 PM
e check is better than paper check,there is no fee if the check bounces.
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merrie
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posted on December 17, 2006 05:28:56 PM
My bank never charges ME a fee if someone else's check bounces. I have only had one check bounce in 9 years on Ebay.
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annekila
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posted on December 17, 2006 05:49:59 PM
What is the difference between an E-check and just having the money transferred from buyer's bank account? To me, they seem the same..
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hwahwa
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posted on December 17, 2006 06:45:41 PM
Paypal is not a bank so you cant do ACH like you do with online banking,so e check is really ACH from your buyer bank to paypal's bank and once the money is with Paypal,it knows it should credit your account.
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digitalbruce
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posted on December 18, 2006 01:11:26 PM
They dont make much sense to me either, but I am the kind of person that can't wait for an auction so I only do a Buy It Now and pay with Paypal immediately..So I can get my item right away...I hate waiting. It would drive me nuts to have to wait for my check to clear my bank. I personally, as a seller, don't mind them I just ignore them until I get the notice that they cleared.
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sthoemke
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posted on December 18, 2006 01:45:36 PM
I've never had a paypal echeck bounce.
I'd bet paypal automatically gets the funds for 99.99999999999999% of echeck transactions, but makes waiting period just because the buyer doesn't have a credit card on file.
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merrie
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posted on December 18, 2006 01:54:14 PM
I hope the buyers who used the echecks recently on my auctions do not expect the items for Christmas. 2 of them were paid early on the 13th and the expected clearing date is 12/22!! I thought there was some law about clearing clecks quickly. The PO is quicker and if your feedback is good, I would probably be moved by the holiday spirit and sent the item before your snail mail check cleared, but echeck, I'm a waitin until it clears.
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amber
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posted on December 18, 2006 02:16:23 PM
I have had 4 e-checks bounce from 3 different buyers. In each case the buyer had used an old bank account, or one with insufficient funds. I never ship until they clear.
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sthoemke
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posted on December 18, 2006 03:02:44 PM
Thanks amber, good info to know.
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