THIS GUIDE WILL EXAMINE THE E-CHECK AS A BUYING TOOL....PROS....& CONS....

ELECTRONIC CHECKS...Just one of many payment options when making purchases on EBAY , Many sellers accept this form of payment , which works very much the same way as a paper personal draft , typically, the period of time  an E-CHECK takes to clear a banking instiution is 2-3 BUSINESS DAYS , Non U.S. E-CHECKS or foreign can take somewhat longer...as much as two-three weeks to clear ..!!!!.....I, personally , find that unacceptable and we no longer accept Foreign E-CHECKS as a payment option , but for large volume sellers, this is acceptable ...Some of the problems i ve encountered with E-CHECKS  are , a buyer 

writes an E-CHECK for a 4 or 5 dollar purchase , which ends up taking 14 days or longer to clear, IF YOU CANT AFFORD TO PAY FOR A SMALL PURCHASE RIGHT AWAY , DON'T BID ...This is one of my personal pet "peeves " how ridiculous it is to make a seller wait that long for payment, BUYERS...Please understand, that when you take that long to complete a purchase, you are , in effect, tying up that sellers stock , and few of we who are sellers can afford to wait ( see if you can go into a grocery store and do that ...good luck ...) There have been occasions where , a buyer has written an E-CHECK , then keeps extending the clearing date with his bank...this has happened to us several times , in nearly every case this was done, the buyer never completes the transaction ...because the bank cancels the draft after a certain amount of time ( this varies from bank to bank ) In closing...i want to sayAN E-CHECK is a contract...its only as good as the people involved , IF the people are honorable, the contract will be honored .......THANK YOU ...DANNY ANABLE ....JANUARY  2009