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Old 13 September 2018, 03:18 PM   #1
Bakasana
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My sales thread - eCheck PayPal help

https://www.rolexforums.com/showthre...=1#post8927241
So, I got payment from buyer... it's an echeck through PayPal. Only safe once the money clears, correct???
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Old 13 September 2018, 05:03 PM   #2
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Don't send anything until it clears.
https://www.paypal.com/us/smarthelp/...ng-why-faq3265
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Old 13 September 2018, 09:49 PM   #3
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Echecks can take a while to clear, so be patient.
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Old 13 September 2018, 10:42 PM   #4
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My sales thread - eCheck PayPal help

Not exactly safe even after it “clears” - because the buyer has used PayPal (see below).

As for clearing time there are 2 answers:
1. your bank’s “hold” time
2. settlement per ACH*

*The best way to explain the similarities and differences of ACH, EFT and eCheck is that an eCheck is a type of electronic funds transfer (EFT) that uses the Automated Clearing House (ACH) network to process the payment. The money is electronically withdrawn from the payer’s account, sent via the ACH network to the payee’s banking institution, and then electronically deposited into the payee’s account – similar to a paper check, just electronically.

On PayPal & eChecks
Now there are 2 ways he could have used PayPal - a purchase or a gift. Which did you agree to allow for this deal?

If a purchase, then you are going to be at risk for a PayPal clawback against the eCheck if this buyer claims you never sent the watch, or sent a fake watch.

PayPal eCheck protects only the buyer so keep that in mind and be very careful to document/video the fulfillment process you undertake to ship him the watch.


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Old 13 September 2018, 11:30 PM   #5
Bakasana
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Thanks guys...

Should I just cancel transaction???? The guy doesn't even have any posts here.
https://www.rolexforums.com/member.php?u=183280
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Old 14 September 2018, 12:00 AM   #6
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eChecks give you as the seller no protection. I would cancel, especially if the buyer has no posts or prior transaction history.
Tell the buyer that they need to wire you the money since they have no previous history.
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Old 14 September 2018, 12:21 AM   #7
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Thanks guys...

Should I just cancel transaction???? The guy doesn't even have any posts here.
https://www.rolexforums.com/member.php?u=183280
Quote:
Originally Posted by offrdmania View Post
eChecks give you as the seller no protection. I would cancel, especially if the buyer has no posts or prior transaction history.
Tell the buyer that they need to wire you the money since they have no previous history.
I would

I only accept Paypal from verified buyers and payment through Paypal/Ebay itself.

I would never accept this form of payment.
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Old 14 September 2018, 12:35 AM   #8
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I would never accept this form of payment.
Especially from someone with no post history/activity in over a year. Always make sure you are fully protected if it turns out to be a scam.
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Old 14 September 2018, 02:45 AM   #9
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Run from this.
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Old 14 September 2018, 03:55 AM   #10
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Lets say the eCheck on PayPal clears... what then? Is it safe to ship watch out?
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Old 14 September 2018, 03:57 AM   #11
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How would I do a bank wire/transfer?? I got DM'ed about that being safe too.
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Old 14 September 2018, 05:06 AM   #12
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Agree with others, pass on this sale.
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Old 14 September 2018, 05:16 AM   #13
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Lets say the eCheck on PayPal clears... what then? Is it safe to ship watch out?
I wouldn't as PayPal always sides with the buyer and there are too many scammers out there who know exactly how to game PayPal's system. Even when you think the money is yours, PayPay can (and will) take it back.

Why didn't the buyer just pay you normally through PayPal?
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Old 14 September 2018, 05:18 AM   #14
beshannon
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Lets say the eCheck on PayPal clears... what then? Is it safe to ship watch out?
Quote:
Originally Posted by Bakasana View Post
How would I do a bank wire/transfer?? I got DM'ed about that being safe too.
It sounds like you really want to sell this watch. I understand that.

A bank wire is a bank to bank electronic funds transfer. The buyer needs your bank info and will have his bank send funds. Once done, you have the money. It is very difficult to reverse or stop a wire unless there is fraud somewhere during the transaction.

As for the check "clearing" you need to be specific, did it clear your bank, ie., did they give you access to money or did it clear the issuing bank which means has it been paid?

Finally, given the buyers history you have been advised repeatedly to walk away, not sure what other answers or help will satisfy you.,

Good luck!
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Old 14 September 2018, 08:39 AM   #15
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Old 14 September 2018, 09:01 AM   #16
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I paid DavidSW with PayPal via F&F from my bank account balance. F&F gives the buyer no recourse but I felt safe buying from a respected seller. eChecks have the chance to bounce like a Nigerian nightmare and I wouldn’t risk it.
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