Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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I just paid for something (so I thought) on eBay and used PayPal, I had £2-odd in my PayPal account so I was expecting it to use that and take the remainder from my bank account, but instead it took the whole amount from my bank account by way of an "eCheque".
Recently I changed banks, but I only added the bank account, there is no back up funding source, but there was when I was using my old account. Is this the reason why PayPal has sent my payment as an eCheque? It will probably be not earlier than the end of next week before my payment clears now! 
If I add a backup funding source (I used to have my old Switch card as the backup), will it be back to normal like before?
I asked PayPal through their contact us thing on their web site, but seeing as I can't log into my email  I don't know if they've replied or not! 
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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Actually just found this posted up on eBay's forum:
http://forums.ebay.co.uk/thread.jspa?threadID=1100012498&tstart=0&mod=1152610377354
quote:
I really don't know why some payments to me are in the form of echeque.
I always write to the buyer and tell them that I can't post their item till their payment clears, in a couple of weeks and usually they appear to be surprised.
'Instant' Bank funded payment types (PayPal) are:-
1) 'Debit card' (treated as a Credit card by PayPal)
or
2) 'Instant Bank Transfer'. This is only available for buyers that have a Debit or Credit card registered to their PayPal account as a 'Back Up' funding source.
(PayPal make the payment before they've actually received the money from the Buyer's bank account and need a back up source should the bank debit fail.)
Anyone that has set up 'Bank Funding' for their PayPal account will be able to send an 'eCheque' and will always be told (by PayPal) the estimated clearing date.
Bank Funding is the first step for PayPal account 'Verification' and when in place the bank account becomes the default funding source (after PayPal balance) for payments.
Many Buyers may not realise this.
[Edited on 23-07-2006 by Sam]
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abdus
Member
Registered: 23rd Feb 06
User status: Offline
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normally echeques take 5-7 days to clear...
I guess you made payment this way because you haven't changed your default settings for backup source...
usually when making the payment, it tells you how it is funded...mine is set to be always the credit card...
btw you can phone paypal...much easier and very friendly/helpful 
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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I added a credit card as a backup source and bought something else off eBay last night, that was paid instantly with the money that was already in my PayPal account plus the balance from my bank account instantly.
So remember folks, if you don't want to wait all year for your payment to clear, make sure you have a debit/credit card number as a backup source!
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