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View Full Version : Why do e-checks on Paypal take so long to clear?

Prodigy
10-30-2008, 08:33 AM
Money is coming directly out of my bank account. Started the transaction on Oct 23rd. Expected clear date: Nov 3rd. WHAT?! For 5 bucks? :huh
mwc2112
10-30-2008, 08:37 AM
It's because eChecks don't require an alternate funding source. Normally if your funding source doesn't have enough then they just go to your alternate source, but with an eCheck they have to make sure that the funds are available for the entire length of the transaction so they don't release it until it is completely cleared through the system.
Prodigy
10-30-2008, 08:40 AM
Is there a faster and/or better transaction method?
mwc2112
10-30-2008, 08:42 AM
Yeah, anything but eCheck. :cool:

The 'Instant Transfer' and 'Credit/Debit Card' options are both much faster.
Prodigy
10-30-2008, 09:14 AM
OK cool. Thanks for the info...How do you change the default payment settings then? What about for someone wanting to pay me, say from a TGP transaction?
mwc2112
10-30-2008, 09:30 AM
OK cool. Thanks for the info...How do you change the default payment settings then? What about for someone wanting to pay me, say from a TGP transaction?


When you go to the main screen (after you enter an e-mail address and the amount of $$$) then there should be a link by the displayed payment method that says 'change'. That will allow you to select the different options. Not sure about setting defaults, maybe somewhere in your profile. Mine always defaults to the 'Instant Transaction' option (although I always use a credit card for anything over, say $100... I trust American Express to settle disputes far more then I trust Paypal to do so).
brlfq
10-30-2008, 09:50 AM
Because I want my stuff fast and they really are all out to get me. .. ...
A440
10-30-2008, 09:54 AM
on a large dollar transaction, I would think the e-check is beneficial since it is less than the percentage eaten for PP transaction.

the processing time is longer, but it is better for the seller on big ticket items.
Telemon
10-30-2008, 10:06 AM
Simple....Paypal Sucks.
Prodigy
10-30-2008, 10:32 AM
Simple....Paypal Sucks.

Care to elaborate?
Midnight Lady
10-30-2008, 11:01 AM
Paypal doesn't suck if you use it properly. If your bank account and credit card are linked to your paypal account, all payments are INSTANT and there will be no annoying echecks. I HATE being paid by echeck. It delays everything.
stratzrus
10-30-2008, 12:46 PM
Is there a faster and/or better transaction method?

Instant Transfer+1

That's what I use and it's quick.