payment pending delays

[cluelesshome]

Can anyone tell me "Why oh why" does it take 2 weeks keeping my money pending as well as money transfer from bank account directly to pay pal account that are supposedly connected.

No issue taking money from my bank account when paying for something though. Nice system.

Me: "Eh let me transfer some cash so I can pay 2 weeks later. "

PayPal: "Meanwhile I'll just take your money from your bank account cause that's faster, you'll lose double the amount from your bank account, except the first amount you took out to transfer to us, you'll get it in 2 weeks."

Me: "Dude that sucks ! That's a **bleep** business model ! "

PayPal: "But wait ! There's more ! When you'll finally get the cash in our account you can take it back and re add it to your actual bank account, but that'll also take 2 weeks. So in other words, in for 4 weeks you'll have cash in limbo that no one can use. ANd if it happens that you went over in your bank account you'll pay them fees for insuficient funds we cant cover that though. But Please keep using us.

How does that make sense.

New Money commercial is balls. Doesnt take me 2 weeks to get my cash I think I prefer old money thanks.

[kernowlass]

@cluelesshome

When you pay a seller it is NEVER instant from your bank account. Paypal CREDIT the seller for you so you get your item more quickly and paypal take the wait for the funds to leave your bank account and process through to paypal and that takes 5-7 days.

However if you want to transfer funds to your paypal account OR withdraw funds TO your bank account then you have to take the wait this time for the funds to process to your bank account or paypal account.

This is because paypal use electronic and not wire transfer.

Never known a transfer take 2 weeks though.

[cluelesshome]

Thank you for enlightening me about what I already just said in my comedic srcipt

[baylie336]

This may sound really lame to frequent "PayPal" sellers, but I'm new to this. I sold a saddle for $775.00, to a buyer, (from an ad, not on eBay), about 5 days ago, & it just says, "Pending", on my account, under the transaction. It has the option for me to "send another statement", so WTH does that even mean? I texted the buyer, after a few days, & said, " if you've changed your mind, please let me know, since I have another buyer lined up", but they just said, "can you send me another statement"? Look, idiot, you know you committed to buy it, would you be so kind as to just say so, if you changed your mind! I've sent you a total of 3 statements, in 5 days already! So what exactly does this mean? Am I free to sell the item to someone else, or am I bound to this deal? I saw another listed "help" article, about "payment denied or declined", which it doesn't say, on this transaction, so it's really unclear what I can do at this point. I'd really appreciate any help or advice you can provide me on this issue. I texted Paypal, & asked them about the issue, & gave them the name of the buyer, (which they already had, & confirmed, but they didn't comment, or tell me anything beyond that, & the buyer hasn't responded). Whenever I buy something using Paypal, I can watch right away, as the money leaves my account, & goes to the seller, so it appears, at least...

[kernowlass]

@cluelesshome

Your welcome, I can give you the info that YOU asked for but I can't give you the intelligence to understand it OR the manners to say thank you when someone gives up their time to reply to your thread.

[pgant]

I'm confused about your first paragraph kernowlass.  You said that:

"Paypal CREDIT the seller for you so you get your item more quickly and paypal take the wait for the funds to leave your bank account and process through to paypal and that takes 5-7 days."

I'm the seller.  But I'l telling you that there's a huge wait for me to get the funds that the buyer paid.  I sold an item on Feb. 11 and this is the message in the details from PayPal:

"This payment will be in your pending balance until February 24, 2016. It may be available sooner, once we know the transaction went smoothly."

How is that PayPal crediting me and taking the "wait for the funds"? I'll be waiting for up to 2 weeks for those funds.

---

[JP670]

Mine did! PayPal put a hold on it then sent it back to the person who sent to me. And there is no way to get support. I am currently forever on hold as we speak.

[pgant]

I just posted the exaact same issue this morning, entitled: "Wait time for availabiltiy of funds".  However, yours was much funnier. 

It is very frustrating.  I don't know the difference between a wire transfer and an electronic transfer and why the later would take so much longer.  I'm not going to use PayPal to transfer money from my bank account any longer.  Waiting on $300 of my own for 6 days is crazy. 

And is the $4.00 PayPal took out of my account for shipping I bought taking 6 days or close to 2 weeks to get to them?  Are they waiting until they make sure my transaction with the post office went ok, which is what they say they're waiting for to release the money to me that a buyer paid with. 

[kernowlass]

@pgant

If you want explanations I can give them to you, but it would be nice if you were polite in asking. Why you have to be sarcastic i really don't know. I don't make their rules, I can only say how they work, so if you want facts i can give them to you whether i agree with those facts or not.

Sellers DO get credited instantly UNLESS you are a new seller subject to the new seller hold that EVERY new seller goes through.

We often get confused buyers on here that don't understand how their item is on the way yet the funds have not left their bank account yet, that is because paypal credit sellers in advance.

However ALL sellers go through the new seller hold of 21 days BUT you nearly always get the funds released in about a week if you send trackable and that tracking number shows the item as being delivered.

More info in link below.

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

[pgant]

I appreciate you reply and the information.

Can you help me understand in what way I have been sarcastic?