Paypal E-cheque - It doesn't have to be painful!

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Paypal E-cheque - It doesn't have to be painful!

Q: How come my Paypal payment took FOREVER to clear? I thought it was  supposed to be instant!

A: Sometimes Paypal payments go thru as "E-Cheques" - This means that you have set your Paypal account up to draw from a normal bank account (not from a credit card account) and so your payment will be pending for between 5 and 10 working days depending on how slack your bank is about clearing your funds!

Hint: If you like to buy stuff regularly on Ebay, and you have set your Paypal account up to draw from a bank account, you can make things a LOT FASTER by maintaining a PAYPAL BALANCE - This means you should transfer say $50 into your Paypal account and leave it there! This way, when you buy something and then pay via Paypal, your payment will be drawn from your Paypal balance FIRST, and then when the balance runs out, subsequent payments will come from your nominated bank account. Even if you only have a few dollars left in your balance, the payment will draw those few dollars first, and then the remaining amount from your bank account (Paypal will tell you if it is going to do this so you will know what is going on.)

If you like to sell AND buy on Ebay, I find it a good idea to leave ALL your funds from sales in Paypal and NOT transfer them to your bank account. That way you will have a Paypal balance ready for your next purchase.

There is no need to worry that your Paypal balance will go missing or disappear. You can check your Paypal account anytime to see what the balance is, and you can view previous transaction histories in spreadsheet form and save them for your records if you wish.

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