Accepting Paypal e-checks?

[FantasticFirefly]

I've sent and received them in the past with no issues. Anything I should be aware of accepting them as a seller? (non-ebay only)

Thanks!

[ponylady]

I wouldn't think it would be any different. 

As I am sure you know it's just like a regular check and can take 3-5 days to clear.  I just wouldn't ship anything until it clears your account. 

[FantasticFirefly]

Thank you! for us canucks sending one says 6-8 business days, which before checking I thought was longer then that (8-10)

One thing I wanted to verify, if an e-check were to bounce, it's only the buyer that would end up with penalty charges? I've never sent/recieved a bounced e-check before...  I want to accept as many payment methods as possible, be flexible as possible but there is no way I could afford penalties if a buyer bounced a payment to me.

[ponylady]

Nope, you as the seller are not charged a penalty.  I am not sure if they are or not though.

[FantasticFirefly]

Good to know! Thank you! I know not everyone has a CC linked to paypal. and heck, I use e-checks on occation with my personal buying account.

As a buyer, in Canada yes! Before you confirm sending one a little warning pops up that if it doesn't go through there will be a fee and lists the amount. It isn't cheap either. I think it's about $40? If the reason is insufficient funds you will also incur a charge from your bank as well, so there is incentive to only ever send one if you have the funds set aside. Which makes me feel better accepting them as payment.

[Stormy31685]

I have had a few "bounce" before, and there were no charges through paypal for the seller.  However, I believe the standard bank charges would apply like a regular bounced check.

That's interesting about Canada!  I wonder if Paypal will start doing that for US buyers too...?