echeque

[hoofener]

Hi, I accidentally paid for something by echeque as i had a new debit card and hadn't updated the expiry date. I had the seller refuse the echeque, updated the card and paid instantly. Now i just need to know where my echeque money is. 30th - paid for item by echeque 2nd Nov - transaction shows in bank account Up to now (5th Nov) funds are unavailable to me. So, whilst this is going on, who has my money and how do i find out the predicted clearance date?

[kernowlass]

@hoofener

I hope you mean December and not November !!!

If so then firstly a seller is not allowed to refuse ANY paypal payment and an echeque is a paypal payment.  So personally if it was ebay i would be leaving the seller appropriate feedback.

As for the cancelled echeque then >>>

When a payment is cancelled that payment can't do a u-turn > it has to process through to paypal who will then either return it to your funding source or credit your paypal balance > but that takes about a week.

[kernowlass]

@hoofener

your welcome !

[hoofener]

Hi there. Thanks for the reply. Yes, Dec not Nov. The buyer refused under my instruction as the funds were available; just an out of date card. Getting the buyer to refuse is the suggested method of ensuring the echeque won't be cashed (when you search on this forum). All that is fine, just wanted to see if there was any definitive way of finding out when the transfer from my account to paypal would be complete. What I also don't get is why it takes 7 days + to transfer money from a verified bank account to the linked paypal account. I'm now in the fifth day where the money is gone from my bank account but not available in my paypal account. Who has it I wonder?

[kernowlass]

@hoofener

Paypal use electronic and not wire transfer so it works this way >>>

http://www.ehow.com/info_8537474_difference-wire-t​ransfer-electronic-transfer.html

Electronic Transfer.

Because processing electronic fund transfers involves a third party in the automated clearing house -- which processes the transactions overnight -- the time it takes to complete this type of transfer is generally between one and four business days.

Wire Transfer.

Since one bank completes a wire transfer by dealing with another bank directly, wire transfers occur faster than electronic fund transfers. Often, banks complete wire transfers in real time, making funds available to a receiver within minutes or hours of a person beginning the transaction.