How long does it take to receive a payment into a pay-pal account and does this guarantee the funds are yours?
I'm selling some items on ebay and awaiting funds from the buyers into my my paypal account. How long does this process usually take (first time seller) Also, when the money appears on my paypal account, does this guarantee the funds have left their account and are now securely mine? Or should I wait until I have transfered my pay-pal balance to my bank account before shipping items? I hope this makes sense.
Personal Finance - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I get my payments instantly, it depends on if the buyer pays immediately. And once they're in your Paypal account, they're yours. I wait until the buyer gets the item and is satisfied tho, just in case they want a refund or something...
Answer 2 :
If the buyer pays through their bank account, aka wire transfer, then you should receive the money almost instantly. If they pay through credit card or e-check then it will take 3-4 business days. Once the money is deposited in your paypal account then it is your money. You should ship your item once you receive the money in your paypal account. The only way that you can then lose the money is if the buyer claims that you didn't ship the item and paypal awards them their money back. For that reason, I highly recommend requiring insurance and keeping the tracking number on all items that you ship.
Answer 3 :
Login to your paypal account and click the details link on that payment. If you have not had instant payment it generally means you have been paid by an echeque. An echeque will take between 5 and 10 working days to clear in your paypal account and you should not dispatch any item until the payment is cleared. Paypal will email you to say you have cleared funds. It is a good idea to email the buyer to tell them they have paid by echeque so that they know it will take extra time to clear. When selling on ebay and the buyer pays with paypal funds are normally instantly available in your paypal account. This is the time to post the item, you do not wait to clear in your bank as paypal is technically another bank account and the money is yours. HOWEVER> The buyers can claim that money back under certain circumstances such as item not received ( lost in the post). To avoid this you should post all items using a recorded service. But again low value items are not worth the extra postage costs for recorded delivery so you should ask the buyer to wait a little longer and if still not received be prepared to refund the full amount and then claim for the loss from the postal service used. Communication is the key to successful ebaying.
Answer 4 :
If they fill a dispute, and PayPal agrees with them, it won't matter if you have transferred the funds to your bank or not, PayPal will refund the payment and you have already authorized PayPal to charge your bank account. Once the funds appear in your PayPal account, the buyer has to win a dispute though PayPal to get the money back. If you can provide documentation that you shipped the item, you should have no problems. If you don't ship the item until the time for a PayPal dispute expires, YOU have provided legitimate grounds to file and win a dispute.
Answer 5 :
when a buyer buys something from you and pays by paypal by an echeque. you have to weight for a week because of the funds need to clear. the buyers payments goes throughout there bank, then there paypal to your paypal. sometimes the paymets you will recive some you wont, so DONT post the items yet wait and take ebays advice. hope this helps ;) thanks
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