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Issues with Instant Transfer and Bank Account
 

I deposited some cash into my checking account last night, and shortly after that, checked my account balance using my bank's (Chase) online account manager. Everything looked fine. I have the correct balance and everything.

I proceed to purchase an item from eBay, and go through the checkout process. I usually use my debit card (linked to the same checking account as mentioned before) to make purchases. When I click "Confirm Payment", the page then says something along the lines of "Cannot use this credit/debit card, please select another form of payment".

I thought it was weird, so I then used the Instant Transfer method, which is linked to the checking account mentioned above. The purchase went through, but when I went to check my online balance, the money was never deducted.

I had to buy another item, so I went through the process again. They didn't take my debit card, so I had to use the Instant Transfer method again. Went through fine, but still, no deduction from my balance.

I've tried searching and people are saying Paypal is using the "Instant Transfer" method as an eCheck now?

What gives? :pout:

(I apologize in advance for not searching more)

I believe the instant transfer method when using a bank account has always been an echeck.... there is no such thing as an instant transfer.... unless you use a debit card. An ACH check, or automated clearing house still takes time.

That process takes 2-3 days. They send an ACH to the back, clears in that time. The bank wants to cover themselves as well as their customers.

Hey,

They are going to deduct the money from your checking account


Instant Transfer is just like a Tiny line of credit paypal gives you.....then deducts it from your checking like 2 days later:)

tiny line of credit? Wow... what happens when the check is declined, and the seller has already shipped? yikes

in most cases 99% of the time paypal will come after you or bank account for the money the most i ever got from an instant transfer was $41 from a 2 month old account.....pp wants to make the ebay and paypal experience angelic...for buyers ofcourse.....lol