Transfer your funds safely through electronic transfer (eCheck)

ECheck which is commonly known as the Electronic Check is a form of payment that is done via the internet that is funded from the bank account of the buyer and here you do not need a physical check to be sent. The recipient receives the money within 3-6 working days or business days using this method.

ECheck and instant transfer are same as well as different in some or the other ways, though both eCheck and instant transfer is a way to pay through the bank account, in instant transfer payments the money is received instantly and in case of eCheck it takes 3-6 working days for the recipient to receive the money.

In case of e-check the only requirement is a valid bank account but in case of instant transfer, it needs to be funded by credit card or debit card which has to be registered in the PayPal account.

This method of eCheck payment is digital hence the amount can be transferred directly from the sender’s bank account to the recipient’s bank account without involving any physical instruments.

There isn’t any difference between an e-check or a printed check as the processing time is same for both eCheck as well as printed or paper check takes the same time as 3-4 days and in case of eCheck, the person has to write a check online while in printed check it is a physical process.

If you are paying through the e-check method then the person should be aware that the shipping of your goods will not start unless the check gets cleared in the recipient’s account. Unlike a paper check, eCheck requires a bank routing number, bank account number, a digitalized signature and an endorsement to complete the transaction.

The process to send money through eCheck

  • In case you wish to pay through eCheck the recipient should also have the PayPal account to get the amount or has to register with PayPal for the transaction.
  • You have to log in to your PayPal account and click on “send money” tab. Type in the receiver’s PayPal address and the exact amount that you wish to pay.
  • Then, you need to click on the personal tab to select what is your purpose of sending the money or entering rhe purpose code as it can be your gift or payment or other forms of payment. You need to select the option from purchase tab if you are buying some good or services from the person.
  • You have to then select continue and then audit your entire transaction, if you do not have a checking account you will have to click on the change option and it will offer another option
  • You will then have to go to your funding options page where you have to click on “add bank account”. Here you need to enter valid checking account number or your bank and also the routing number.
  •  Then you need to enter the receiver’s name and reason why you are sending him the money. It can be for any purpose like rental payment, or a gift or a payment for any service provided.
  • Have a quick look at the transaction details and press “Send Money” to complete the transaction. It will take approximately 3 to 5 business days to for the eCheck to clear. If you already have a checking account linked to your PayPal account then the eCheck may get processed immediately and money will be sent. A backup credit card should be listed on the account just in case.

Instruction for Buyers:

  • Before you proceed with the payment make sure you have sufficient balance in your account to cover the eCheck payment, if not, then the bank will cancel your payment request.
  • If Instant Transfer option is not available, in that case you cannot send an eCheck. Your eCheck cannot be funded partially by a PayPal balance, hence the bank will always ask for the full amount at the time of the transaction.
  • You can easily cancel an eCheck paymeny if you wish to cancel the e-check after the check is issued you need to call your bank and settle the cause in case you wish to cancel the eCheck after it has been issued in this case you need to speak with your seller to refund you the entire amount.

Instructions for sellers

If you have to refund the entire amount through eCheck you need to maintain sufficient balance in your account as you cannot send the partial money through eCheck as the bank will request you the full money for making the eCheck payment.