PayPal echeque clearance time corrected
23/05/2008 at 17:07
It’s taken forever, or at least it feels like it, but PayPal appear to have last updated their email communications to give a realistic estimate of echeque clearance time.
eCheque emails have in the past always defaulted to the US 3-4 working day clearance, but according to Gill of Foilplay, from today they’ve started stating a much more realistic 7-9 working days.
It will still take 10-14 days (including weekends) for echeques to clear, but at least, from now on, both buyers and sellers should be aware of how slow they are.
To ensure customers know why you’ve not shipped I’d still recommend emailing all buyers pay via eCheque. Inform them how long it will take to clear and offering to refund and let them repay with an alternate method to set their expecations inline with reality.
Gill says
5:22 pm on 23/05/2008
Hooray! How many years did it take for PayPal to implement that simple change, let’s hope it wasn’t just a glitch on the two echeque ebay notifications I got today
Strangely, web site echeque notifications have always quoted the 7-9 working days.
Chris Dawson says
5:49 pm on 23/05/2008
Yes – I should have pointed out that Gill mentioned it was just eBay transactions that caused incorrect notifications. There hasn’t been a problem with those generated from website sales
Keith says
8:00 pm on 23/05/2008
I listened to the Ebay Town Hall event on the 19th. Paypal rep said they were going to alter the emails.
Also they were going to explain to buyers before they paid via echeque, what it was and why it wasn’t an immediate payment.
You can listen to an mp3 of the event – 89 mins and first 20 mins just introductions & banter
http://www.wsradio.com/internet-talk-radio.cfm/shows/eBay-Town-Hall.html
link just to the right