5.00 Fee on E-checks

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  1. Can someone explain this to me. I have been a member of Paypal (Premium Merchant acct) since 1999. I have used E-checks, sent them, recieved them, and never have I been charged a fee of 5.00. I sent an e-check to my sister a few weeks ago and she just checked and she was charged 88 cents and I was charged nothing to send it.

    What is all of this I hear about a 5.00 fee. Is it when you do not have a credit card to back up your bank acct?

    Thanks in advance.
     
  2. When you send money using an echeck, as the buyer, you are not charged a fee. The person who receives the money is charged, the maximum amount the receiver pays is $5.00. The fee varies depending upon the amount of money received via echeck.

    If you log on to paypal and do a search of fee schedule, you should find an explanation of the fees for an echeck.

    HTH
     
  3. I gotcha! Thanks. 5.00 is the maximum. The posts that I heard talking about this were higher ticket items where the fee would be 5.00. Thanks for explaining that. I was wondering if there was some standard 5.00 fee for some type of accounts.
     
  4. I prefer echecks as payment as opposed to the the other fees for instant transfers. Its so worth waiting a few days for an echeck to clear!
     
  5. I waited waaaaay more than a few days for that echeck to clear. I hated it. I'm not that patient. Maybe it was because the check was from Canada that it took soo long.