Does anyone know how e-check works?

So I was selling an account and some person sent me $60 via e-check.
He went first, no OMM used.

Can he take his money back with e-check?

 

Dude you should wait till it clears it takes like 3 or 4 days to clear because it goes to the bank and actually checks if they have the money in there if they do not then you wont get paid.

 

As long as it cleared, you're perfectly safe. An e-check is just like a check, once you deposit it and it clears the other person's bank/account, there's no way for them to get it back. If it hasn't cleared yet, he can still either cancel the e-check, or just withdraw all the money out of his account already so there's no money to receive.

 

Yes So You Have To Wait Before You Give All The Account Info And

 

Well for starters you should have waited for the person to receive funds in their account so it would of been an instant payment.

But if you gave all the information about the account to the guy, he can keep the account and cancel his echeque via his/her bank.

So, the best way to trade RS accounts would be that:

Seller: Receives x amount of money
Buyer: changes recoveries in x amount of days
Seller: receives e cheque and transfers to bankaccouny
Buyer: successfully sets recoveries.

If the buyer tries to charge back you can still get the account back because the recoveries havent set yet.

 

thanks, i didn't accept his payment.