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paypal eCheck.. Is it safe?

Discussion in 'The Shit List' started by wenczmastah, Feb 8, 2009.

  1. wenczmastah

    wenczmastah BANNED BANNED

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    How safe is paypal echeck?
     
  2. masterdnh

    masterdnh Newbie

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    in what aspect? More details to what your looking to accomplish would help to answer your question better.
     
  3. Realign02

    Realign02 Regular Member

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    When someone sends a paypal echeck it has to clear before they release it into your paypal account.

    I would say it's pretty safe.

    -E
     
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  4. wenczmastah

    wenczmastah BANNED BANNED

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    ^ It says i must wait 6-8 days.. So really it don't have any negatives?
     
  5. hotwicked

    hotwicked Regular Member

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    It doesn't if you wait for it to clear which you should ALWAYS do. They can easily get reversed during the waiting period.
     
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  6. masterdnh

    masterdnh Newbie

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    Will as stated above the money doesn't transfer in less the check clears.. so if your the one waiting for the money to get sent don't released a product or service till the charge clears.
     
  7. Realign02

    Realign02 Regular Member

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    wenczmastah,

    As soon as it's cleared your good. I've never had any issues with it.

    Like hotwicked said though, make 100% certain it's cleared before you release your product/service.
     
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  8. wenczmastah

    wenczmastah BANNED BANNED

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    Well i sell my service and this guy sent me money thru paypal echeck.. Its 300bucks and i told him that we will start to work after we receive the money on 6-8 business days (as what's on the email) -- I think i did the good decision
     
  9. creztor

    creztor Power Member

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    Wait for it to clear and you are safe. eChecks shouldn't cause any problems other than having to wait for them to clear.
     
  10. Nathan B

    Nathan B Regular Member

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    I think they're pretty safe it you wait for them to clear, I've had about 20 e-checks in the past 3 months and not one of them was a chargeback. ;)
     
  11. wenczmastah

    wenczmastah BANNED BANNED

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    Im afraid to get chargeback so i think i just made the right decision.. Thanks guys
     
  12. r00t

    r00t Regular Member

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    Yea, you should wait for it to clear.

    The only eCheck that I received came from a navy email, and it was chargebacked in the last day or so..
     
  13. invisibleme

    invisibleme Registered Member

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    Its pretty safe see gaypal's reply below
     
  14. invisibleme

    invisibleme Registered Member

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    Hello, my name is XXX. I will be happy to assist you with your
    question regarding your GayPal account.

    I understand your concern with your eCheck Payment and your buyer's
    shipping address.

    After viewing your GayPal account, you received an eCheck Payment of
    $XXX USD

    An eCheck Payment is made with an Electronic Funds Transfer. This
    process is not backed up with a back-up funding source, and usually
    takes 3-5 business days to complete using a U.S. bank account.

    Although the funds may have cleared the sender's bank account, they
    still have to go through the Federal Reserve Bank and then through our
    system which will protect the transaction under safety. Once the funds
    have been transferred, the status of the transaction will automatically
    change to 'Cleared' and the funds will be placed in your account. It is
    in your best interest to wait to ship any product until the status of
    the transaction is listed as 'Cleared', and you have been paid.

    To view the Expected Clearing Date of the transaction, log in to your
    account, click the 'History' tab, and click the 'Details' of the
    transaction. This date is an estimate. Actual clearing dates are
    dependent upon factors that GayPal cannot control, such as delays in the
    banking system, processing errors at individual banks, or the mail
    service.

    Please Note: Holidays and weekends are not recognized as business days
    for most banking facilities, which may result in a delay in your banking transactions.

    A Confirmed Shipping Address is an address at which you receive your
    credit card statements, and is checked by our automated system to verify the billing address of the card.

    The address confirming process is automatically done when you add your
    credit card/bank account to your GayPal account. However, a "Confirmed"
    status of the address could not be obtained by certain GayPal users. It
    is because their credit card issuers or bank account providers do not
    have address confirming services available for GayPal system.

    Also, in general, most Non-U.S. addresses cannot be confirmed at this
    time. It is because their credit card issuers or bank account providers
    do not have address confirming services available for GayPal system.

    However, your buyer is from U.S. and his shipping address is confirmed.
    In that case, it will reduce risks and become eligible for GayPal Seller Protection Policy if you ship the item to his confirmed address.

    I wish my answer will resolve your problem.

    If you need any other further assistance, please do not hesitate to
    contact us.

    It is my pleasure to assist you. Thank you for choosing GayPal.

    Sincerely,

    GayPal, an eGay Company
     
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    Last edited: Feb 8, 2009
  15. wenczmastah

    wenczmastah BANNED BANNED

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    Thanks for the helpful tips guys :)
     
  16. wenczmastah

    wenczmastah BANNED BANNED

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    The date keeps changing :( why is that?

    Im talking about the date of its confirmation.. Yesterday it told me it will come on 2/19/2009 or on 2/23/2009 but now i checked it and it changed to 2/20/2009 - 2/24/2009 :confused: