Question regarding Paypal payments ...

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Posted By: Dan Paradis

I'm not sure whether this is the right spot to post this question, but here goes.

When you receive a paypal payment, can I assume that the money has cleared and it is OK to mail the card? Is there a time period I should wait once I receive notification that a paypal payment has been made?

I know someone recently posted about a scam where the buyer says he never received the card. I understand that is really a separate issue (and could happen regardless of the payment method).

Thanks.
Dan

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Posted By: Mark T

If its a E-check then there is a clearing date just like cashing a check. 4-5 days...once they email you and say the e-check has cashed then all set.

If you received a paypal payment and it says PAID in paypal from buyer then you are all set.

Mark

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Posted By: leon

I think when the payment has cleared you are fine to send whatever was bought. There can still be a dispute but the money won't "clear" anymore so you are safe in that respect. At least that's my understanding. Not a bad question with how often we use paypal to pay for cards....Happy Turkey Day...

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Posted By: Steve Murray

I think, though I am not positive, that if the payment was made by credit card through paypal versus out of the senders cash account, that the transaction could be reversed if the buyer disputes the credit card charge.

Were the transaction legitimate I suppose the buyer would be guilty of fraud. Not much help but I think that's the way it works.

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Posted By: barrysloate

I recently bought something on ebay and used paypal, but I still got an email from the seller stating that when the payment cleared in a few days he would send the package. I admit I didn't understand it, but let it slide since it wasn't that big a deal.

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Posted By: Matt

I believe if the seller has a merchant account, then a CC payment clears right away, but if he just has a regular Paypal account, a CC payment takes some time to clear.

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Posted By: Lee Behrens

Paypal is a necessary evil for ebay. There customer service is poor and they are gear to protect the buyers. I would hold a minimum amount of money in your paypal account. There are many horror stories out there of paypal either taking money out or freezing accounts. It is a nice service for getting money quick but be wary and don't carry a large balance.

other than echecks the transfer should be instantanious.

Lee

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Posted By: Andrew

Off tangent...I've been paid via echeck a few times and was only charged $5, not the usually 2.9% as with credit cards or bank accounts. The last time I checked, the fee structure doesn't mention this.

"Take your life in your own hands and what happens? A terrible thing: no one to blame." -- Erica Jong

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Posted By: Mike H

I usually clear out my paypal account when I sell a big ticket item to anyone with minimal or not great feedback. Other than that, I never leave more than $300 in there. It's easy to transfer in and out.