How to Send and Receive a PayPal eCheck
PayPal eCheck: PayPal is an online payment platform that allows users to pay for goods and services online without disclosing your bank account or credit card details. When you pay for an item you can use various payment method methods such as instant transfer, PayPal balance, and eChecks these are just a few methods.
PayPal eChecks are used when the buyer does not have a credit card or an alternative funding source attached to their PayPal account. An eCheck works like a normal check when buyers send payments the funds are transferred from the buyer’s bank account into the seller’s PayPal account. eChecks like normal can also bounce so do not send an item to the buyer unless the check has been confirmed.
How to accept eCheck as a Payment Option
To accept eCheck as a payment option;
- Log into your PayPal account and then click on profile.
- Click on profile and settings and then click on my selling tools.
- Then click on update under block payments.
And follow the instructions on the screen. Please note that eChecks take three to five days to clear which means the product should be delivered after the payment has been cleared.
How to Send a PayPal eCheck
To be able to do this you will have to link a checking account to your PayPal account. To link your checking account to your PayPal account you will need to provide your checking account information and you will also need your routing account as well as your bank account number.
- Login in to your PayPal account and click on pay or send money. Choose the option that applies to you either sending money to friends or pay for goods and services.
- Enter the recipient’s email address or name and click enter the amount of money you will be sending then click on next.
- Next, you will see a tab that says you are sending with and below you will see the name of your bank account followed by the words checking account. If you see this it means you are depending on the recipient’s fund using eCheck.
Finish by clicking on send money now.
How to check eCheck Status
To be able to check an eCheck status all you have to is; go-to activity on top of the screen on your PayPal account then click the box that says all activity and chooses the payment sent option. If the status shows unclear then the money has not yet been cleared from your bank account but if it has shown clear it means that eCheck has been deducted from your bank account has been credited to the recipient.
Receiving a PayPal eCheck
Receiving an eCheck is as simple as receiving an email notification as you would get from any PayPal payment. However, the email will not say the money is here it will tell you the money is on its way and this is because you have to wait for the eCheck to clear and when the check clears you will receive a notification that the money has been cleared.