ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
13 September 2018, 03:18 PM | #1 |
Banned
Join Date: Sep 2014
Location: Greenwich Village
Posts: 588
|
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??? |
13 September 2018, 05:03 PM | #2 |
2024 Pledge Member
Join Date: Apr 2010
Real Name: Brian
Location: Bucks, UK
Posts: 1,086
|
Don't send anything until it clears.
https://www.paypal.com/us/smarthelp/...ng-why-faq3265 |
13 September 2018, 09:49 PM | #3 |
"TRF" Member
Join Date: Feb 2014
Real Name: Ed
Location: Georgia, USA
Watch: Casio Illuminator
Posts: 650
|
Echecks can take a while to clear, so be patient.
__________________
An expert under pressure is a drip. |
13 September 2018, 10:42 PM | #4 |
2024 Pledge Member
Join Date: Dec 2010
Real Name: PaulG
Location: Georgia
Posts: 40,569
|
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 The money is electronically withdrawn from the payer’s account, sent via the ACH network to the payee’s banking institution, and then electronically deposited into the payee’s account – similar to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. Sent from my iPhone using Tapatalk Pro
__________________
Does anyone really know what time it is? |
13 September 2018, 11:30 PM | #5 |
Banned
Join Date: Sep 2014
Location: Greenwich Village
Posts: 588
|
Thanks guys...
Should I just cancel transaction???? The guy doesn't even have any posts here. https://www.rolexforums.com/member.php?u=183280 |
14 September 2018, 12:00 AM | #6 |
2024 Pledge Member
Join Date: May 2008
Real Name: Matt
Location: Wine Country, Ca
Posts: 5,810
|
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.
__________________
TRF Member 11738 |
14 September 2018, 12:21 AM | #7 | ||
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
Quote:
Quote:
I only accept Paypal from verified buyers and payment through Paypal/Ebay itself. I would never accept this form of payment.
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
||
14 September 2018, 12:35 AM | #8 |
"TRF" Member
Join Date: Nov 2010
Location: Europe bound
Posts: 1,410
|
|
14 September 2018, 02:45 AM | #9 |
"TRF" Member
Join Date: Jun 2015
Location: USA
Watch: All
Posts: 4,936
|
Run from this.
|
14 September 2018, 03:55 AM | #10 |
Banned
Join Date: Sep 2014
Location: Greenwich Village
Posts: 588
|
Lets say the eCheck on PayPal clears... what then? Is it safe to ship watch out?
|
14 September 2018, 03:57 AM | #11 |
Banned
Join Date: Sep 2014
Location: Greenwich Village
Posts: 588
|
How would I do a bank wire/transfer?? I got DM'ed about that being safe too.
|
14 September 2018, 05:06 AM | #12 |
"TRF" Member
Join Date: Oct 2015
Location: New York
Watch: me go broke!
Posts: 1,657
|
Agree with others, pass on this sale.
|
14 September 2018, 05:16 AM | #13 | |
"TRF" Member
Join Date: Feb 2015
Location: Terrafirma
Posts: 2,655
|
Quote:
Why didn't the buyer just pay you normally through PayPal? |
|
14 September 2018, 05:18 AM | #14 | ||
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
Quote:
Quote:
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!
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
||
14 September 2018, 08:39 AM | #15 |
"TRF" Member
Join Date: Jan 2011
Real Name: David
Location: australia
Posts: 20,152
|
Pass
Sent from my iPhone using Tapatalk
__________________
watches many |
14 September 2018, 09:01 AM | #16 |
"TRF" Member
Join Date: Mar 2018
Real Name: Zac
Location: Hamburg, NY
Watch: 216570 Polar
Posts: 71
|
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.
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
Thread Tools | |
Display Modes | |
|
|
*Banners
Of The Month*
This space is provided to horological resources.