How does a paypal echeck work?

Question

I'm selling something and someone sent me an echeck however to the wrong email. I ask her to send me another to my correct one. How does an echeck work? What kinda registration do you need to complete? Does the echeck money go into the paypal balance or something?

Please telllllll me everything about paypal echeck.

Answer 1

An eCheck just means that the person who paid you is paying you with money from their personal bank account.

- If someone pays you and chooses to take money from their credit card, you get the money instantly.

- If they have a balance of funds in their online Paypal account, you get the money instantly.

....BUT - If they have no credit card on file, and no balance of funds in their online Paypal account, they must then withdraw from their bank account and so you get an "eCheck." It takes about 4 to 7 business days to clear. Imagine as though someone paid you with a paper check. Your bank would "hold" it for a few days and once the funds clear, you get the money.

Do not leave feedback until the eCheck clears and you receive the payment.

Do not send out the item until the eCheck clears and you receive the payment.

Regarding the fact that it was sent to the wrong email address....I'm not really sure how/why that happened, and I have no answer for that. Your Paypal account should be linked to the proper email address, so I can't imagine how this person obtained the "wrong" email.

Hope this was somewhat helpful.

Answer 2

Why did you give them the wrong email address?  You're pretty much hooped now.  Be a little more careful next time.

From PayPal's Help pages:

An eCheck is an electronic funds transfer that withdraws money directly from your bank account. It's just like writing a check, only it is done electronically.

When you send money with an eCheck from a U.S. bank account, the transaction is held as pending for 3-4 business days, until the electronic funds transfer clears your bank

When you send money with an eCheck from a Canadian bank account, the transaction is held as pending for 7-8 business days, until the electronic funds transfer clears your bank

When you send money with an eCheck from a U.K. bank account, the transaction is held as pending for 7-9 business days, until the electronic funds transfer clears your bank

When you send money with an eCheck from an Australian bank account, the transaction is held as pending for 7-8 business days, until the electronic funds transfer clears your bank.