eChecks Legit?

[jchan0806]

Hi, An item I'm selling on Ebay closed.  Buyer is paying me with eChecks.  I never had anyone paid me via eChecks.  Is this legit?  Thanks.

[profdata]

You paypal account should show the e-check.  It should also state not to ship yet until the e-check clears.

E-checks usually clear within 4 days (US)

[Tatsuko]

Once the check clears is there anyway it can still come back "insufficient funds' or be recalled by the sender?

[surplusdealdude]

No - the 4 day wait is so that Paypal can be sure that the check cleared.

[sdaviso]

I am a seller who's was paid by echeck. Yesterday I received a notice from paypal that the echeck has cleared, but paypal has not put the funds into my account. What's the story? I won't ship until I have the funds, but the buyer knows he's paid and is waiting for the item....

[surplusdealdude]

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@sdaviso wrote:

I am a seller who's was paid by echeck. Yesterday I received a notice from paypal that the echeck has cleared, but paypal has not put the funds into my account. What's the story? I won't ship until I have the funds, but the buyer knows he's paid and is waiting for the item....

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Could be a scam or it could be a Paypal glitch.

Sometimes paypal doesn't post amounts for 3-4 days - it's an intermittent problem that they haven't nailed down yet.

But I wouldn't ship until I see the funds in the account.

[sdaviso]

Hi, and many thanks! The payment was finally posted several hours after I had asked the question and more than a day after I had received the email that the echeck had cleared. Is this what's called a 'float'?...

[surplusdealdude]

We just call it a "glitch".

[RS_Kaboos]

Is it possible to receive an e-check that clears and then later find out that the account numbers had been stolen?  If so, what does PayPal do since the items at that point had already been shipped?  Has this ever happened and is there any seller protection from this?