Expert: Marvinator - 4/19/2008

Question
Hey there!
Pretty simple questions,
Ive bought 3 items on eBay using money orders, but now hooked up Paypal account to my Canadian Bank account (Im from Canada). My questions are: How long will a payment from me to seller take? I made one on two nights ago, and it still hasnt been cleared. Also, is payment quicker if Ive added funds into my paypal balance before making a payment?

Thanks so much,
James

Answer
You have it figured correctly.  

It works like this.

If you send money from Paypal when you do not have any money in your Paypal account, you must wait for Paypal to draw the money out.  This is known as a Paypal E-CHECK.  You must wait for the check to clear your bank, just like a regular check.  This can take 3-5 Business days (don't count weekend days in there).

You are also correct in thinking it would be faster to have money already in your Paypal account ahead of time.  A payment made with money from your current Paypal balance is immediate - no waiting at all! Sellers also prefer this method.  

I'll also take a moment to mention Credit Cards and Paypal.   A payment made with a credit card is almost as fast as with a Paypal Balance, however the seller will pay a much higher fee for this payment.  Sellers would like to not have to do this, so again, using money already in your paypal account is much better all around.  

I hope this helps.