Is this right?

[MATTTHEMOP]

I set up paypal account. I buy something on ebay. Paypal says the payment is 'pending until 22nd June'. What does this mean exactly?

I thought the paypal account was the same as my actual bank account so I assumed when something was bought, money would go right out of my bank account. Im now guessing this is not how it works, so I sent the correct funds from my bank account into my paypal account so that money hopefully will go to the seller. I think this makes sense but Im not sure if its right. Do people who use ebay have to do this every time???

Many thanks

[PayPal_Wayne]

Hi there MATTTHEMOP,

It sounds like you are using your PayPal account without a backup funding source, hence your payments going out as eCheques.

An eCheque is an electronic funds transfer that moves money directly from your bank account, through your PayPal account, into another user's PayPal account. It's just like writing a cheque, only it’s done electronically.

An eCheque payment will always take the full payment amount from your bank account and doesn't use any money from your PayPal balance. eCheque is the only way to send a payment while maintaining your PayPal balance. When you're making a payment we'll show you, under the heading of 'Funding Options', if eCheque is the selected payment method for that transaction. If you want to have the option to send instant payments, you'll need to add another payment method, like a second bank account or a credit card so it's available under the 'funding options' also. We use this bank account or credit card if we can’t get the funds from your bank.

eCheques differ from Instant Bank Transfers, as they are not instant payments. With eCheque payments, your bank account will be debited when you begin the transaction. However, the transaction status will remain pending until the recipient receives the money, 5 to 7 working days later.

Adding a debit or credit card to your PayPal account will allow instant payments to be completed.

I hope this helps.

Wayne