@susanj wrote:
I have a question regarding buyers. I ordered something on December 15th, money was withdrawn from my bank account on the 16th. My order with the buyer still shows awaiting payment so I emailed them and told them the money was taken from my account on the 16th. They replied that paypal was holding my money until the 20th and of course the seller will not ship until Paypal releases the money to them, not that I can blame the seller for that. I am just curious about this since I have ordered and paid for things many times before and not had this happen. Is this normal?
Sounds like your payment was an eCheck payment which takes 3-5 business days to clear... PayPal is waiting to receive the "payment has cleared" information from your bank.
If your previous bank account funded PayPal payments were instantly completed, check to make sure that PayPal has your credit or debit card's correct expiration date... login to your PayPal account, click on the "Profile" tab and click on the "Credit/Debit Cards" link. If the expiration date is not correct, click on the "Edit" link to enter the correct expiration date.
Bank account funded payments are processed instantly if you have a credit/debit card backup funding source. PayPal essentially floats the seller a "loan" in anticipation of the funds clearing your bank account at a later date.
If PayPal doesn't have the correct expiration date for your credit/debit card, your bank account funded payments no longer have a backup funding source and will be processed as eChecks which take 3-5 business days to clear.
