Downloaded Money to Closed Bank Account.

[Vegasite]

Downloaded Money to Closed Bank Account.  Where does the money go?

[PayPal_Adrian · Accepted solution]

Vegasite,

If the bank account is closed, they should reject the withdrawal back to PayPal and it will show up in your balance.  That may take 3 to 5 business days.

If it doesn't show back up (or you could even contact them in advance), then the bank accepted the transfer and would be holding the funds.  I would reach out to them to see whether they will accept or reject the bank transfer.

Hope this helps,

Adrian

[Vegasite]

Thanks, Adrian.

[nathaliesd]

I have the same problem. But I was wondering why paypal is showing that the transfer to the bank account is completed. Also I called the bank and said they already sent the money back to paypal and yet when I called paypal customer service, agent says bank hasn't issued the money yet. Should I ask the bank to call paypal? Or should I wait for the money to appear, it's just 2 business days though. I'm just worried if I could still get my money back.

[PayPal_Adrian]

Welcome to the boards!

The "completed" status only means that PayPal has deducted the funds from your balance and sent the transfer; PayPal does not receive a notice from the bank when they formally accept the funds.

However, if your bank has returned the funds, they should be back into your PayPal account soon.  PayPal will receive a notice of the rejection and the funds will then post back into your balance.  This may add a few days onto the withdrawal process, but it will return.

Hope this helps,

Adrian

[ay_reen]

Hey,

What if my primary bank account is closed (i closed it cause I move out from US), and I mistakenly used this paypal account to pay something.

I've ask my friend to add the sufficient ammount to the paypal account, so now my account got some money left, which is enough for the payment. But then, how will it be, as paypal already started to get money from my primary account..

Thanks

Ay_reen