I just wanted to transfer $50 to my PayPal from my bank, why does it take a week?!

[SasoDuck]

I had a purchase I recently wanted to make using my PayPal account, but needed to transfer funds from my primary bank first. I figured it'd be fairly quick, maybe not as fast as transferring between my checking and savings account at the same bank, but it's giving me a turnaround time of a week! What's up with that? I was hoping to make this purchase fairly soon because it's time-sensitive, but it's telling me I won't have the funds until June 1st. I don't get why it takes a matter of minutes for someone else to transfer a payment to me, but when I want to transfer money to myself it takes days. Why? Is there any way I can speed up this process (that doesn't require me to spend more money)?

[kernowlass]

@SasoDuck

Why are you doing that? You don't need funds in your paypal balance as a buyer to buy things.

As long as you have a bank account or card linked to your paypal account then paypal will take your payment direct from that funding source.

[SasoDuck]

Oh.

So even though my PayPal balance is $0, I can buy something with PayPal and then PayPal will extract the $50?

I haven't used PayPal that much, so fairly new to its workings.

[kernowlass]

@SasoDuck

Yes, i never have funds in my paypal account balance to BUY things.

1.

If you have a card linked to your paypal account then ALL payments will be instant credited to your seller.

2.

If you are funding it via a bank account AND have a back up card linked as well then it will be instant.

3.

But if you ONLY have a bank account and no card linked then it will still be fine but you may have to wait for the payment to clear from your bank to the seller.

Its just that if you use 1 or 2 paypal CREDIT the seller for you and paypal take the wait for your funds to transfer from your funding source but with 3 you take the wait.