eCheck duration?

[thismakesmepoor]

Hello, I'm from Canada and use eChecks to pay for stuff on eBay and I was wondering if there was any way to decrease the amount of time it takes, which is current 8 business days, which is a loooong time. I have just put a Visa under my name for back up as I heard that it will make my payments instant. Is that true? Any advice? Thanks.

[Computer]

I believe visa is instant, but you can't lower the duration of the time it takes to take the money from your account with is 6-8 days. I'm going through the same problem with this instant and non instant problems. I'm still waiting for a solution.

[PayPal_Olivia]

Hi folks!

Welcome to the Community! 🙂 We're happy to have you here!

Any time funds are transferred from a bank to PayPal, or to a bank from PayPal, the expected time frame is approximately 5-7 business days. This is determined by the Automated Clearing House process, which utilizes multiple financial institutions to clear funds and is governed by NACHA - The Electronics Payments Association.

I understand from your posts that you're experiencing a time frame of 8 days. I regret that it's taking that long. The 5-7 business day time frame is an estimate based on prior experience with the process. If it continues to take longer for the ACH institutions to clear the funds, estimates will likely be adjusted accordingly in our documentation soon.

The good news is that thismakesmepoor found the solution! 🙂

PayPal does offer another option to get payment to your sellers more quickly. Adding a backup payment method to your account makes Instant Transfer an available funding option. When a payment is sent using Instant Transfer, PayPal pays your seller up front for you while the funds clear in the background. This allows your seller to send your order out more quickly, and it allows you to make purchases from sellers who don't accept eCheck.

I hope this helps clarify. Let me know if you have more questions!

Olivia