Chuck Renner wrote:
> > It is my understanding that Paypal soaks up about four
> > working days waiting for the electronic payment to clear,
> > similar to clearing a personal check, before they release the
> > money to the recipient. That being the case, perhaps a buyer
> > using Paypal to submit payment should allow 4 or 5 working
> > days before they expect shipment to commence.
>
> Not quite. Monies received are instantly credited to your account.
> If you wish to move them to a bank account, that process can take
> 3-4 business days, like any other electronic funds transfer can.
That is incorrect.
PayPal allows buyers to send "Electronic Checks" through their service,
electronic checks do take 4-5 days to clear before the money is posted to
the PayPal seller's account. PayPal sends you a notification that the buyer
has sent an electronic check, PayPal then notifies you again once the
payment has cleared a few business days later.
PayPal users who pay sellers by allowing PayPal to charge the total to their
credit card do not have this wait, and the amount is posted to the seller's
PayPal account immediately.
Chuck was correct that it takes 3-4 days to transfer money from your PayPal
account to your bank account.
Kai
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Kai M. Radicke
Wishbone Classics
http://www.wbclassics.com
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