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I was send money by echeck, on July 2nd. The system shows I have a hold till the 8th, well it is not the 9th still pending! I called the sender it cleared on the 5th -yes the 5th!
I called paypal who guaranteed me it would clear on the 10th - WTF! They are holding our funds and making interest of it I am sure!
This CAN NOT BE LEGAL!
eChecks are super slow. When the bank processed the transfer from sender's bank, it does not mean that PayPal has gotten it already to post into your account as it has to go through bank interchanges and clearing houses. And transactions are done in batches. The bank also does not notify PayPal when they have processed the payment request. Clearance time is estimated. Allow 1 or 2 more days for good measure. Call to put a trace on it after that if it doesn't show up.
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