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Posted by: shelby/914 Mar 24 2007, 02:47 PM

Purchased an item from a member here and I'm paying with paypal. He notified me of the total with shipping on the morning of 21 Mar. I paypaled him about 8:30 am. He emailed me that paypal notified him that the funds would be available on the 26th, 5 days later. Just checked my checking account on line and and it showed a E-check debit from my account on the 22nd. Wheres the $'s ? Is paypal making 4 days interest on the transation? Thought that the transfers use to be instant, but I use to make them against a credit card. I'm sure he would like to get his payment as much as I want my SSI's.

Posted by: Johny Blackstain Mar 24 2007, 02:50 PM

QUOTE(shelby/914 @ Mar 24 2007, 04:47 PM)

Posted by: orthobiz Mar 24 2007, 03:07 PM

I recommend going to your bank and setting up a "sacrificial account." I define this as one in which you won't keep a ton of money and won't use for paying your rent. Get one with free checking and an associated credit/debit card.

PayPal "wants" you to keep some money in the non-interest bearing PayPal part; the rest will be on your bank statement. Who knows if it's yet another way they make money.......

Set your PayPal using this account. You will then be able to pay instantly from the PayPal part. Transfer money from the bank/checking/credit card part as you need, but it takes a few days.

If someone totally scams you, at least you won't have to sell your Porsches to fund the grocery bill! And your payments from the PayPal part will be instant. It's a real PITA but it works.

And do not ever click on any link contained in any e-mail you receive, either from PayPal or eBay or especially from another eBayer. I did that once and a DAC stereo component went from 800 bucks to 99 cents in the time it took to click a mouse! eBay took care of it but advised me to be more careful when in reality they have gaping holes in their security to have that happen in the first place.

Paul

Posted by: Series9 Mar 24 2007, 09:08 PM

It's called 'float'. They will make it as slow as possible in order to collect interest.

There's a reason that Learjets fly around the US every night carrying checks. One day of interest on the checks is enough to justify having jets fly them around.

Posted by: jk76.914 Mar 25 2007, 10:21 AM

When you pick payment method, be sure you have NOT selected "e-check". The e-check takes 5 days. A transfer is immediate. You can do either from a checkign account, but the e-check is the default. I know because this happened to me once.

Posted by: LowGT Mar 25 2007, 05:13 PM

My account was doing that also Dan. Turns out my Credit Card had expired. You have to have a valid credit card on fill to send instant transfers from your checking account. That way if you don't have funds available they pull it from your credit card.

I updated my Credit Card info and I can send instant transfers from my checking account now.


Dan