PayPal needs a new money transfer system

[Vannix]

This will be brief, so I'm not inclined to rant. However this whole 3-5 days, on top of the maximum 21 to become available to you in your PayPal account then bank account is horrendous. I'm not sure if the money even exists anymore. Seems like PayPal holds onto funds to rake in the interest and all of the first time users, such as my self, get **bleep**. So thank you PayPal, thank you for ruining thousands of days and weeks of good hard working people who use your service for "easy" access. PayPal is a joke, there is no wonder there is a law suit against them.

[kernowlass]

@Vannix

New seller hold that every new seller goes through.

Every seller on ebay has gone through it myself included, most of us didn't mind as it weeds out poor sellers and makes buyer protection better.

Also I never waited longer than a week for funds as once tracking shows the item as delivered + 3 days your funds are released.

https://www.paypal.com/uk/webapps/mpp/security/ebay-payments-learn-more

[madkiwi]

You don't know what you are talking about. As the previous reply mentions, you are a NEW SELLER. There are going to be restrictions UNTIL YOU HAVE ESTABLISHED A TRACK RECORD.

I have had a business Paypal acct for 8 years. Not only do I have no holds at all (they will not even hold back funds if someone files a dispute, because it has happened 2x, both settled in my favor), but my transfers to my bank account are sent overnight.

Yes, you read that right. If I initiate a transfer before about 5 pm Pacific time, the money will be in my check account the next morning.

But they only started doing that for me about 14 months ago. For over 6 years I was waiting on average 3 days to get money over. You manage your cash flow so it isn't an issue.

Yes most Paypal account holders will have to wait 3-4 days for transfers. But build a business, do the volume ($10,000+ a month) don't create problems for Paypal (by selling "not as described" merchandise) and Paypal will treat you well.