What is "cleared" payment?

[Bob Clayton]

When selling something on eBay, what is considered a "cleared payment"...

When their money is in my PayPal account?
or
When the money is done transferring from PayPal to my bank account?

[fenderhutz]

I am guessing to your bank account, about 3 business days.

[steve66]

Hi Bob,

~snip~
.....cleared payment (that is, after the funds have been deposited into the seller’s account).....~snip~

Taken From:

http://pages.ebay.com/help/buy/conte...ling-time.html

[Bob Clayton]

Originally Posted by steve66

Hi Bob,

~snip~
.....cleared payment (that is, after the funds have been deposited into the seller’s account).....~snip~

Taken From:

http://pages.ebay.com/help/buy/conte...ling-time.html

hey steve,

i read that too, but they didn't specify whether they meant the paypal account or the bank account. i just sold something to someone, and he bought it using the buy it now feature. and he's pissed off that i'm not shipping immediately because he paid immediately.

[Trevorus]

I'd generally say when they are free and clear in your paypal account. Somtimes an e-check takes a bit to clear. If that's what it is, tell him to just wait until it clears. When it's a regular paypal transfer, it's your money right then, so ship asap in that case.

[Sean S]

Originally Posted by Bob Clayton

hey steve,

i read that too, but they didn't specify whether they meant the paypal account or the bank account. i just sold something to someone, and he bought it using the buy it now feature. and he's pissed off that i'm not shipping immediately because he paid immediately.

You can't just walk into a convenience store, pay with a bank card, and walk out without making sure the transaction is actually completed.

[Steve Clark]

I never think of buy it now as ship it now. I think of it as I'm not waiting for the auction in case it goes too high for me so I'll buy it now and avoid the rush.

[Sean S]

Originally Posted by Steve Clark

I never think of buy it now as ship it now. I think of it as I'm not waiting for the auction in case it goes too high for me so I'll buy it now and avoid the rush.

+1

Also, if it's free shipping, just say you need the money to ship the item

[fenderhutz]

Actually. If the money is in your Paypal account. Paypal considers the transaction a done deal. You have your funds if it was an instant payment.

What you do with your money at that point is your business and shouldn't affect you shipping an item.

If he paid by e-check it does take a few days to clear, thus a few days to ship.

If you advertised fast shipping and I did an instant payment, I would be irate as well. If the money is in your paypal account you could in theory respend it before you ship what I bought, so it's as good as cash in your Paypal account.

I shouldn't have to wait for you to transfer it to your account.

[wld3]

Originally Posted by fenderhutz

Actually. If the money is in your Paypal account. Paypal considers the transaction a done deal. You have your funds if it was an instant payment.

+1

If the funds are in your PayPal account, then you have been paid and should ship.

[fenderhutz]

Originally Posted by steve66

Hi Bob,

~snip~
.....cleared payment (that is, after the funds have been deposited into the seller’s account).....~snip~

Taken From:

http://pages.ebay.com/help/buy/conte...ling-time.html

Paypal is considered the sellers "account". Paypal is a bank.

Item should be shipped when payment is received unless it is e-check.

[Bob Clayton]

Originally Posted by fenderhutz

Paypal is considered the sellers "account". Paypal is a bank.

Item should be shipped when payment is received unless it is e-check.

Cool

Thanks, that is the info I was waiting on and was confused by.

Though even if I ship it today, he won't get it for a while, no shipping tomorrow and monday.