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I've bought many items over the years via Paypal but only recently sold an item and the buyer used Paypal for his first time. That was 3 business days ago. To date, Paypal shows the money BUT it hasn't yet been automatically deposited into my checking account as (I believe) it should. According to what I'm reading at Paypals site, it can take 5-7 business days for this to happen.

So, the buyer naturally wants his goods shipped but personally I'd like to see the money in my bank first to be on the safe side, just in case as I've never done this before and don't want to risk being screwed.

Anyone here have any bad experiences with Paypal in a similar situation, like the money wan't really there? I'm just debating how long I should wait before shipping, assume that I'll get the money or keep waiting until it's in my bank first.

This was an Ebay sale and this buyer has no previous Ebay history either. This wasn't a PC related item either but I know that many here are very experienced in buying/selling used goods.

usually once the $ is in your paypal account is when I ship. You have to transfer the $ to your checking account, it doesnt do that automatically.....if you havent just go to withdraw and transfer to checking (free)

I would ship the stuff now.

Greg

ot /but sucks anyway !
to transfer fund from your bank to paypal takes 3 days -now that crazy !
i know i can make payments online for like my cell bill or car and its less then 24 hours and done !

why is paypal so dam slow !
(i guess im just bitching )

it takes the same amount of time to transfer to and from an ING account.

So, no biggie to me

if they pay with an e-check..it does take some time..
typically i do not ship until the funds clear

Ahhh, I see. OK cool.
Thanks guys

Due to the high level of paypal fraud, I would not ship until the funds are safely in your checking account. A common tactic is for an unscrupulous buyer to send funds via paypal, and then retract the payment once the seller has shipped.

It's inconvenient, but I've quit using paypal. There are other, albeit more expensive, instant payment options provided by companies that actively work to prevent fraud.

My personal favorite is a Western Union wire transfer. There's no reassurance quite like having cash in hand

Originally posted by johnnyace
Due to the high level of paypal fraud, I would not ship until the funds are safely in your checking account. A common tactic is for an unscrupulous buyer to send funds via paypal, and then retract the payment once the seller has shipped.

IF they did that, it would still take the funds from your checking acct.

IF they did that, it would still take the funds from your checking acct.

This is not true. I had a buyer that disputed a $1200 purchase. One of his employees bought from me using his boss' credit card. The boss forgot about the purchase and a montha later he disputes the charge. At the time I had like $300 in my paypal. After the charge back my account had a -$900 balance.
Paypal never touched my bank account.
After a simple phone call the the "boss" all was cleared up.
I have had well over 1000 transaction using Paypal..and never a real problem. Maybe I'm lucky??
Heck, I used to have my own account manager that would call me once a month..just to see if I was happy That was the year I paid $1800 in fees though

To my understanding, once it's shown in your Paypal balance it shouldn't be money that a buyer could then retract.

your paypal balance can be affected...just not your bank account