In case you have no idea what an eCheck is, then let me break it down for you. An eCheck is an electronic payment method that a buyer can use to fund their bank account. An eCheck must clear the bank before any action concerning crediting to the recipient comes into place. PayPal eCheck takes about 5 days (business days) to clear. The money in the transaction goes to the recipient’s PayPal account. However, ensure that you have sufficient balance in your account before making any payment to ensure that it can cover your account.
Going further, if the money in your bank account is not enough, the bank will decline your Payment. Once it is declined, PayPal will represent the eCheck a second time and the full amount would always be requested from your bank account.
In addition, canceling Paypal eCheck after it has been issued requires that you contact your bank. Then when it comes to an eCheck that has been cleared already, contacting the seller to request a refund is the only option.
PayPal EChecks can BOUNCE like Normal Checks!
ECheck does bounce, so it is important that you don’t send the item until after clearance. The right or safer thing to do is to send a message to the buyer alerting them of the expected clearing date. When you receive an eCheck from an item belonging to eBay, the buyers are mostly unaware of the fact that they sent the payment as an eCheck.
They will think that you are just slowly dispatching their item. And sometimes, you as the seller might receive some negative feedback. And for this reason, sending the buyer a message with the expected clearing date is very important.
Sending PayPal Payment as eCheck
Sending payment as an eCheck is very easy. All you have to do is to follow the steps stated below:
- First login your PayPal account
- Once the account is open, click the send money tab
- Enter the information required and click continue
- Click change link
- Select the eCheck radio icon and click continue
- Go through the information
- And finally, click send money to complete the transaction.
And with that, you can send your PayPal payment using an eCheck.
Add eCheck Payment Option
If you are a business person, then you must ensure to provide every method of payment. Although you have most of the methods available, like credit cards, debit cards, and the rest. It will also be an advantage on your own end to include a check as a payment method. This is because you can never tell what your next customer may be requiring from you in terms of payment.
You may have most of your customers requesting already from this payment method. So, therefore, it is also very ok if you will consider adding this method to the list. All you have to do to create an eCheck account is above. Follow the step-by-step guide to add an eCheck account.
