Common use of eCheque Clause in Contracts

eCheque. An eCheque payment involves the execution of the following two interrelated and consecutive Payment Orders made by you: (1) a Payment Order that instructs your bank to pay PayPal; and (2) a Payment Order that instructs PayPal to pay the recipient from your Payment Account. You agree that, once PayPal receives the funds from your bank, PayPal may hold those funds in your Reserve Account and those funds will not be made available to you in your Payment Account to trigger the execution of the second Payment Order until the Business Day that PayPal has deemed that the risk of the first payment being reversed has passed. The risk that the first payment made be reversed is due to the bank notifying us that there were insufficient funds in your bank account to execute the first Payment Order (“NSF Risk”). Until both Payment Orders are completed the funds will be held in your Reserve Account and the transaction will appear to you as “Uncleared” in your Account details. PayPal does not consider that the funds from the first Payment Order are at its disposal, enabling such funds to be made available to you in your Payment Account to trigger the second Payment Order, until the NSF Risk has passed. Further, PayPal is not in possession of all the information necessary to place the funds at the recipient’s disposal in their Payment Account until the NSF risk has been determined by PayPal to pass.

eCheque. An eCheque payment involves the execution of the following two interrelated and consecutive Payment Orders made by you: (1) a Payment Order that instructs your bank to pay PayPal; and (2) a Payment Order that instructs PayPal to pay the paythe recipient from your Payment Account. You agree that, once PayPal receives the funds from your bank, PayPal may hold mayhold those funds in your Reserve Account and those funds will not be made available to you in your Payment Account to trigger the execution of the second Payment Order until the Business Day that Daythat PayPal has deemed that the risk of the first payment being reversed has passed. The risk that the first payment made be reversed is due to the bank notifying us that there were insufficient funds in your bank account to execute the first Payment Order (“NSF RiskNSFRisk”). Until both Payment Orders are completed the funds will be held in your Reserve Account and the transaction will appear to you as “Uncleared” in your Account details. PayPal does not consider that the funds from the first Payment Order are at its disposal, enabling such funds to be made available to you in your Payment Account to trigger the second Payment Order, until the NSF Risk has passed. Further, PayPal is not in possession of all the information necessary to necessaryto place the funds at the recipient’s disposal in their Payment Account until the NSF risk has been determined by PayPal to pass.

eCheque. An eCheque payment involves the execution of the following two interrelated and consecutive Payment Orders made by you: (1) a Payment Order that instructs your bank to pay PayPal; and (2) a Payment Order that instructs PayPal to pay the recipient from your Payment Account. You agree that, that once PayPal receives the funds from your bank, bank that PayPal may hold those funds in your Reserve Account and those funds will not be made available to you in your Payment Account to trigger the execution of the second Payment Order until the Business Day that PayPal has deemed that the risk of the first payment being reversed has passed. The risk that the first payment made be reversed is due to the bank notifying us that there were insufficient funds in your bank account to execute the first Payment Order (“NSF Risk”). Until both Payment Orders are completed the funds will be held in your Reserve Account and the transaction will appear to you as “Uncleared” in your Account details. PayPal does not consider that the funds from the first Payment Order are at its disposal, enabling such funds to be made available to you in your Payment Account to trigger the second Payment Order, until the NSF Risk has passed. Further, PayPal is not in possession of all the information necessary to place the funds at the recipient’s disposal in their Payment Account until the NSF risk has been determined by PayPal to pass.