Question about receiving Paypal payments

[peacefrogdog]

I THINK this is the best place to post this - apologies if not.

I have just rented points and received payment via Paypal.
My question: Once payment is received into my account, it is considered to be cleared? Or do I have to wait a certain time before it's considered "cleared".
In my paypal account it doesn't indicate anything to suggest it has to clear.

 

[starry_solo]

Does it show you have a balance in your PayPal account? If so, that means the amount has cleared. If it doesn't, then there should be something in the column where the payment occurred that says "pending"

 

[davper]

To answer your question, yes, once paypal has registered the payment into your account and is not pending, it has cleared.

But Paypal is notorious for siding with the payor in disputes. If the payee makes a complaint that services were not provided, they will automatically take that money back. No amount of appealing on your end will work. The only thing you will have on your side is time. If the booking is for 180 days later, then they will not be able to dispute. If it is in 3 months, the day they checkout, they can dispute the charge get their money back.

I have never rented out my points without the use of a broker. But if I did, I would only accept a check or money order and wait 2 weeks for it to clear.

 

[BayGirl22]

The point above is true, but only applies if you took payment as "goods or services" and paid the fee to PayPal. If they sent money as "Friends and Family" the buyer has no protection and cannot file a claim against the seller.

 

[peacefrogdog]

Thanks. Funds were sent via Friends and Family so that sounds favorable from my perspective

 

[Best Aunt]

Log into your Paypal account.

Click on MYPAYPAL at the top of the screen.

If the money is there, it should say: Money is waiting for you
$xxx

Click on ACCEPT THE MONEY

The next window will say:
What do you want to do with your money?
- Transfer it to your bank
(Move money to your bank in minutes for a small fee. Or in about a day for free.)
- Keep it in Paypal.
(Let's set you up with PayPal Cash account so you can send or spend money right from Paypal)
- Get a check by mail instead

If you click on TRANSFER IT TO YOUR BANK,
the next window will say:

Transfer to your bank
- Instant
(1% fee, typically in minutes, link an eligible debit card or bank... oops, that got cut off)
- Standard
(Free, typically in 1-3 business days).

Click in the circle for the one you want.
Then click on NEXT

The next window lets you choose the amount
Then the next window makes you confirm the amount

Click on TRANSFER $xxx NOW

The next window will tell you that you transferred $xxx to [name of your bank and account number)

Click on DONE

Then click on ACTIVITY at the top of the screen, and you should see the money coming in from the rental company and going out to your bank.

 

[peacefrogdog]

Thanks everyone!

 

[howardlee2]

I don't use paypal for payments. I like personal checks for reservations 60 days or more in advance. That gives me time to pull the reservation for a bad check without subjecting the points to holding status. I have never had a bad check given to me

 

[Best Aunt]

I don't use paypal for payments. I like personal checks for reservations 60 days or more in advance. That gives me time to pull the reservation for a bad check without subjecting the points to holding status. I have never had a bad check given to me

OP rented through an agency. I'm not sure if the agencies will pay the owner by check.

 

[bumbershoot]

The point above is true, but only applies if you took payment as "goods or services" and paid the fee to PayPal. If they sent money as "Friends and Family" the buyer has no protection and cannot file a claim against the seller.

Paypal doesn't cover transactions for timeshare rentals anyway, so I'm not sure that matters.