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E-Cheque
DiggDigital
Member, Host Rep
Hey Guys,
Do you wait to process the order until the e-cheque is cleared or do you process the order since the client repeatedly ask for?
How far can the e-cheque payment be guaranteed?
Comments
you wait. a e-cheque can fail (and probably will most of the time)
Tell the client to pay with an alternative method. You can still refund the e-check before it's cleared. You should wait unless you want to risk not getting your money.
Wait until it is cleared
Depends. If it's an old client with account in good standing, sure you can accept the order immediately and be reasonably sure that you will get your money. But if it's new and unknown client - wait until the e-cheque clears.
Ok. Thank you all. Its helpful
e-cheque, as PayPal e-cheque, at least in the UK, it's simply a Direct Debit. PayPal confirms funds once DD clears with them. If it won't clear you won't get your money.
Bear in mind that Direct Debits, as Credit Cards, can be charged back (recalled) even after the payment is complete and money paid out.
Anytime you hear check, online or offline, it means "trust". You have to trust the person sending it to you. 99.999% not worth it. Run far far far away because somebody couldn't withdraw a sum of money from their account, go to a gas station and get a Paypal card to add funds to their account versus lazily waiting 3-5 sometimes 7 days to clear an e-Check.
E-check could be triggered because the customers paypal account is linked to a bank. Paypal is waiting for the funds which could take 7 days.
I personally wait for e-cheques to clear, albeit most of the e-cheques I get also conveniently fail to complete.
My Paypal account is connected to my bank and every transfer is an "Instant Paypal Transfer" where it sends the person the funds right away and then takes the money out of your bank like 2 days later...I didn't even know it was possible to still send echecks, I think I used that one back in early 2000's for eBay.
Yea PayPal prepays for you, but this will be disabled and turned into an e-check if PayPal failed to previously get funds from your bank. The prepaying (instant payments) will be enabled again after your next payments will be successfully withdrawn from your bank.
They do echeque when they have issues with the account, for example if you are in debit with PayPal they won't let you do instant payment. It doesn't mean that this is necessarily the case with your payment though.