how long does a credit card payment take to clear?

[jessickah]

Hi I sell on eBay and wanted to give my non paypal buyers the option to pay through credit card. I want to protect myself from fake payments. How long until a credit card payment clears and how will I know if its a fake payment? I originally don't send out items until maybe 2 weeks have gone by to make sure the money doesn't "disappear" . Thank you for your help friends!

-jessickah

[profdata]

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@jessickah wrote:

Hi I sell on eBay and wanted to give my non paypal buyers the option to pay through credit card. I want to protect myself from fake payments. How long until a credit card payment clears and how will I know if its a fake payment? I originally don't send out items until maybe 2 weeks have gone by to make sure the money doesn't "disappear" . Thank you for your help friends!

-jessickah

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Non Paypal customers.... I take it you have a merchant account also.

Credit card payment through a merchant account are cleared instantly or usually within minutes.

But, some card companies allow them to file a chargeback up to 180 days from payment date.

[jessickah]

so if some made a fake payment it can take up to 180 daYS for me to find out its a false transaction? hm maybe i shouldnt accept credit card payments

[profdata]

1st of all are you talking about a merchant account. Do you have a merchant account ??????

Payments made to a merchant account are usuall cleared instantly.  

BUT credit card companies allow the card holder to dispute a payment if they didn't authorize the payment, or the seller/mercnant didn't sent the item , or the item arrived broken, or was not as described.  Federal law states up to 60 days tfrom the statement date, but some credit card companys allow up to 180 days if there is a problem.

A credit card company is not going to know a cc is stolen until the card holder  reports it stolen.  It may take the card holder a few days or months to notice an unauthorized charge.

[jessickah]

I have a premiere account (im not sure if thats a merchant acct) but it sounds too risky to accept credit card payments so i will just stick to accepting payments via paypal only. thank you for all of your help

[profdata]

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@jessickah wrote:

I have a premiere account (im not sure if thats a merchant acct) but it sounds too risky to accept credit card payments so i will just stick to accepting payments via paypal only. thank you for all of your help

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And thats against Ebay and Paypals user agreement.  You must accept all types of funded paypal payments.

Stating Paypal funded balenses only in your auctions, can get the auctins pulled and your account suspended.

[karmi]

I believe this seller is simply saying she will stick to using Paypal, and not accept credit card payments directly.  That is not against Ebay policy.