paypal eCheck.. Is it safe?

How safe is paypal echeck?

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

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

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

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

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.

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.

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

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

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.

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

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..

Its pretty safe see gaypal's reply below

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

Thanks for the helpful tips guys

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