ethanrob

iTrader: (3)

have today sold an alpine tv headunit/ps2/changer job lot on ebay
now the winning bidder has paid me through paypal with an "E CHEQUE"

I am assuming that is is just an email type cheque,and obviously takes time to clear(four working days,according to paypal),my question is-

Why would a buyer use this type of payment?
I am a little suspicious to be honest,have emailed him and explained i will not send the stuff until funds are in my paypal pot,so if he wants the stuff sooner,i will cancel the e cheque and for him to pay via normal paypal method

two replys,and all he is saying is"can you get it to me for the weekend"

any experiences guy's?

Alas

Had one once and had to wait 7 days for the cash to be cleared into my Paypal account. Don't know why anyone would use them unless they don't have credit cards?
Alasdair

Scooby Soon!

Is it from a confirmed and verified address?

What value is the stereo / sale?

Even if it is confirmed address you will need to send it with online tracking to stop him doing a chargeback and if its value is over £250 you need to send it with a real courier compnay with detailed online tracking as well as proof of signature. Sounds complicated I know but you dont want to get this wrong. All he has to say to Paypal is "i didn't receive it, they will instantly take the money out of your account and after 7 days if you havn't provided all the courier details (all must be perfect) then thats it lose your money time!

E cheques seem to take from anything to 4 days - 4weeks although I still have one waiting to clear from about a year ago. I think when he sends the payment, paypal takes a Direct Debit from his bank account this is why you normally wait, if theres nothing in the account it will "bounce" after 4 days(ish) )

How many feedback has this guy got?, trust no one!

Imagine your selling it through the free ads and someone has said I will transfer the money to your bank account in about a week, but please send it asap. What would you do then?

CEL

iTrader: (1)

WOAH... worrying, i got an email from paypal saying that my cheque for £260 had cleared so i sent the guy the goods.

Scuttles off to check his bank account....

4X4BOB

Well his feedback is 135 and he's been on ebay for over a year so first impressions say he's genuine.
It could be that he's a bit nervous about sending 650 quid to a complete stranger?
As long as you send it VERY securely making sure its fully insured and trackable then you should be fine.

Bob

Spoon

eCheques take forever to clear. You should have a notice from PayPal telling you when they estimate it to clear.

Send a copy of the date to your buyer telling him that you aren't sending the goods until the eCheque clears.

Remember to send it so it's trackable and requires a signature at the destination. Only send it to the address given to you on the PayPal payment too.

No money in PayPal is safe even if it's "cleared", I've had £434.00 stopped 4 weeks after it was supposedly cleared before now. It however was given back to me some 25 days later after a PayPal investigation.

However, never send anything until payment is cleared no matter what emails you get asking for the goods yesterday.

OllyK

I just got caught by that - I bought something last week and I rushed through paying the guy and it defaulted to e-cheque without me realising. Anyway - funds are out of my account (after 6 days) and are waiting to clear in to PayPal.

Won't be making that mistake again!