PayPal & eCheck question
boston1450
Posts: 7,673
Had a guy from Georgia email me on a item i had for sale. Then he called & i told him i had Paypal. I told him to friend & family the money. Today i get a email & it says my Paypal acct will be getting x amount of dollars in 3-5 days. Ive got item ready to ship (not till i see $$$ in my Paypal account) so i read up on eCheck & it seems as though after i get money in my account this buyer can take that amount back ? & then i have to transfer it to my bank acct 3-5 more days. Ive tried everything to keep the cost of this item down to help him out & i plan on insuring item too. But this eCheck thing has me wondering ?? Any one else done this eCheck before ? Ive shipped out 15 items lately & never had a problem & i think my shipping days are coming to a end cause im not feeling good about getting burnt from people i dont know period.
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Post edited by boston1450 on
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I shop a lot on eBay, but I haven't sold much on there. I think two times I was notified that a paypal transaction had been initiated, but I had to wait 3 to 5 days before the funds became available after I had sold something. But once the funds were transferred there was no way for the buyer to take his money back. I wasn't sure if the buyer knew that it would take up to five days to receive his funds, so I sent him a message explaining why I would have to wait a few days before shipping the item, just to make sure he didn't think I was a slow shipper.
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Yes thats what i messaged him last night. I would have shipped it out Sat morning-but i didnt get PayPaled till after PO was closed. Now he is going to wait 3-5 days & im going to go into PayPal & shut eCheck off. I dont mind waiting for money. But i read so many horror stories that say Beware. We will see how this goes...
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I've received quite a few eChecks over the years, and never had a problem. PayPal does has Buyer and Seller Protection. Just make sure it's Insured and a Signature is required upon delivery.Home Theater/2 Channel:
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Yes. I wont ship without insurance or a sig. Good to hear its worked out for you. Ive had great luck with shipping & i like to be flexible & keep it as cheap as possible. Met some great people. This guy is from Rhode Island & knows New England vvery well. Even knows the area im from. Its a small world..
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echeck is just a way to pay if the payer does not have a paypal account, or credit card. The money is transferred from the buyers bank account to paypal. Paypal says it takes 3-5 business days to get the money and another 3-5 days to get it into your bank. I never understood why it takes so long, but it does. Usually when I transfer funds to my bank it takes 2 business days. I've had echeck payments and never had a problem. As others have said, insure and get signature confirmation, as well as holding the item until the funds are in your account. As far as I know, the only way paypal can take the money back is if the customer files a dispute, and with your insurance and delivery confirmation, you can prove you sent the item. I'd not worry about it.Sunfire Theater Grand IV
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Thanks Doug. Im going to wait. Hope the buyer calls me today & i will explain he will have to wait & he will have to sign for it (which i always do) last night i read a lot of bad reviews & that scared me. But i think this will be a smooth transaction. The buyer seems cool-so that helps too
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Thanks for the feedback ALL. Not knowing stuff when your selling & shipping is risky. Ive seen on here stories/situations that i never want to happen. Learned a lot for CP community
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I've had them before the wait is a drag. PP will tell you when to ship or they did for me. I now put into all my eBay auctions "NO E CHECKS" not that I've had problems but for me the wait is a problem. I look at it this way IF they want to do business on the internet step up to bat with the right gear i.e. either a credit card or a pp account to transfer from ...
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^^^ im going to take it off my PayPal account before i sell & ship again. Talked to the buyer & he's cool about the wait. Kinda pain-but as long as they dont mind-i dont mind..
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Most E-check users are unproven and brand new to the online experience. I find them actually more weary of the experience than I am. They ask tons of rookie questions and don't trust the system and they rarely leave feedback, or worse, they don't understand how 5 star feedback ratings are essential to sellers and leave feedback that actually hurts the seller ratings unknowingly.
I accept the transactions, but cringe each time they choose this option.HT Optoma HD25 LV on 80" DIY Screen, Anthem MRX 300 Receiver, Pioneer Elite BDP 51FD Polk CS350LS, Polk SDA1C, Polk FX300, Polk RT55, Dual EBS Adire Shiva 320watt tuned to 17hz, ICs-DIY Twisted Prs, Speaker-Raymond Cable
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E-check is usually when the buyer hasn't linked his bank account to his PayPal. Takes 3-5 days to clear, but the fees are typically a bit lower than with instant payment. They cannot take the money back once it has fully posted to your paypal. Nothing to be worried about, just hold off shipping until it clears.For rig details, see my profile. Nothing here anymore...
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Yes. I have never sold on Ebay or Amazon. Just local & ive shipped quite a bit considering. I dont mind a bit & i keep away from the fee's & try to keep cost down for buyer..
