In this day and age of instant digital electronic money transfer my query is: when an item or service is paid for by eCheque, which organisation is holding the money for the the 10-15 days? For example if I buy something for $100, the money is debited from my bank account and is held, where? I cannot access this money, the seller or service provider cannot access this money, so where is this money? Multiply this example by the potential number of PayPay customers that have been forced to use eCheques and there is/could be huge sums of money being held by whom? PayPal? I have raised this question because I haven't received a satisfactory answer to why an eCheque was used to pay for an item when there is more than enough funds in my bank account.
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