Accepting PayPal E Checks

JatMat

JatMat

Joined
Aug 26, 2006
Messages
7,012
Fellas, I just found out about the E check from PayPal and was surprised at the cost. I sold a piece of Equipment on the Bay for 5,550.00 Dollars, the man asked if he could pick up the equipment Feb 12th, When I checked my account in PayPal, instead of a percentage they gave me ALL the money except FIVE dollars. I don't know about you, but this is a SMALL percentage compared to what they usually hit me with. Perhaps if you agree to accept paypal, you should say E Checks Only. Other wise 3% of $5,550 is a LOT more cost to you. I know some of you makers are in this category. Just thought I would pass along my surprise, a pleasant one to say the least. PayPal will release 2/4. If not released, no merchandise will go out.
James
 
Hi James,

Echeck takes a loooong time to clear (6-8 days), and a lot times more.

Its really frustrating since you paid but the seller cant ship before it clears.
 
James,

I did not know this, but great tip! I usually just calcuate in the 3% to the cost since most people use PP on this forum but I may offer a discount if they use this method. Of course, that will delay shipping, but for a few bucks it may be worth it.
 
BlazenGem said:
Hi James,

Echeck takes a loooong time to clear (6-8 days), and a lot times more.

Its really frustrating since you paid but the seller cant ship before it clears.
Click to expand...
BlazenGem, not to be a smart alec, But I SOLD, I am collecting, I am only having to pay PayPal FIVE Dollars instead of 3 PERCENT OF Five thousand Five Hundred and Fifty Dollars. The usual fee would have been $166.50. I can wait for it to clear, I am out zilc if it does not. I will relist in store with no charges due to non-payment. It is taking 4 days to clear, my funds are suppose to be in my account by 2/4. Just sold yesterday. A personal check that bounces takes longer than that to know about. Usually it takes me two weeks to find out a personal check has bounced. Big Checks over 20K will clear or bounce in two days, Feds speed those up.
 
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