Recently I received an eCheque from PayPal from one of direct advertiser. The next day I got another email from PayPal that was an ad for eCheque. The email has some interesting information that I would like to share.
When you get a cheque through PayPal, you have to accept or reject in 30 days. If you do not accept or reject eCheque in 30 days it will be returned to sender. It is similar to physical Cheque. It will take 6 to 8 working days to transfer money to your PayPal account.
While receiving this cheque I learned some other things. The cheque I was received it was cheque not cash money so it will not come to my account instantly but it will take up to nine days to get cheque clear. So do not complete any deal or send any item before cheque is cleared.
In my communication I asked for Dollars ($), so I wanted to say USD (US dollars) but the sender was from Canada so he sent me CAD (Canada dollars) that has little value compering to USD.
When buyers pay via echeque they often do not realize they have paid for an item via eCheque. So if buyers card has been expired eCheque will not clear or he may be a fraud.