eepgmik

Hi Everyone,

While we're on the subject of how crap banks are over here...

I've just started up a US Paypal account and want to be able to pay for stuff direct from my bank account like I did in the UK.

SO,

I set up the direct debit with my account details (as I did in the UK) and just made a payment using it.

HOWEVER,

I've very kindly been informed that it's actually being paid as an e-check, rather than direct debit and hence will not clear till tomorrow (I paid on Wednesday). Therefore, it's not at all like at home where the money was taken out immediately.

Does anyone know if there is another way to pay direct from the account without using the debit card I've got set up on the account? Do I even need another way? The reason I didn't do it that way before is that in the UK Lloyds started charging silly amounts for card payments to Paypal and also I had to worry about expiry dates of the card, etc.

Anyone got any suggestions?

BTW: This is Bank of America, who seem to take an inordinate amount of time and charge extraordinary amounts for simple operations.

Thanks,

Martin

BigDavyG

EFT is probably quicker, but I'm not sure you could set this up for paypal.
If it worked you could have your paypal set up as a payee in your online banking bill-pay section.
Prob won't work with paypal though but worth a try - sorry but the best i can do.

Good luck

Big D

I am set up with this and it always goes through straight away for me, and I am with bank of america - cant remember what its called but it is off my account not the debit card. Have never had any problems with them. In fact someone too 800 bux off my wifes debit card on paypal and both BOA and Paypal credited the amount straight away pending investigation - was impressed with both.

BigDavyG

Cool - must be EFT
How did you set it up ??

eepgmik

Hmm, thanks. I wondered about that, but as far as I can see even that takes time. Paypal won't pay the payee until they receive the money from me.

I have to admit I haven't tried the electronic bill pay option yet - although it may be worth a try...

On the electronic bill pay note, I do like the flexibility on the e-bill side of things over here. It still doesn't feel as integrated as Direct Debit in the UK though - probably a scale issue more than anything.

Martin

Big D

I have no idea!!

I think i had to in order to get verified - gave them routing and a/c# then they send a $1 payment to test it. Payments leave my account that day - and show on paypal that day too! No problems thus far!

Big D

There is no such thing as direct debit over here. And the whole banking system is in the dark ages!!! Bill pay has worked great for me - although if its a small company you are paying all it means is that the bank writes and mails a check for you!! So it still takes ages!

Are you a verified Paypal member? as stated my payments clear almost real time and i use BOA

eepgmik

That's weird because I did exactly that. I set up the confirmed account by seeing the 20 odd cents that Paypal deposited.

I then tried making the payment and it came up as delayed. Looking into it they said it was because it's saying

"Electronic Funds Transfer Availability: Note: The completion of your transfer is subject to your banks processing schedules and funds availability policies. If you have any questions, please contact your bank's customer service."

So I'm intrigued as to why it works immediately for you... I'll have to give them a call

Martin

eepgmik

Ok, so I finally got some sense out of Paypal regarding this issue.

What Paypal don't make clear is that if you just set up a bank account as a source for incoming money they will file any payments you make to others as an e-check from your bank. This will then take some days to go through (and incidentally in this case it was Paypal that delayed it - BoA transferred the money the day that the e-check went through - Paypal had the money but didn't clear the transaction for 4 days)!

Paypal informed me that if you've also set up a debit/credit card on the account then they use that as backup for the bank funds transfer (e.g. in case it doesn't clear) and will thus transfer the money immediately.

So, the difference was that I had only set up EFT on my account, whilst Big D had set up EFT and a card on his Paypal account.

According to Paypal's records I had actually added a card on the account AFTER the payment was set up but they still insisted on delaying it until yesterday (I'd paid for the stuff last Wednesday).

I hope that clears things up - it certainly did for me, although I think Paypal ought to be clearer about why it's happening.

Martin

BigDavyG

Cool
Nice to know
Cheers

though I'm still confused as to how the eft system works - how the hell can you bounce an eft payment ??

Big D

Ah all is clear - and yes i do indeed have a credit card back up too! Hopefully this works well for you going forward!