Paypal bank tranfers are to slow

[JWPratt]

How do I speed up the process?  I don't mind paying a fee as long as it not to high. I like the idea of paypal, but the speed at which it works makes me use it a lot less than I would otherwise.

[SNAILS]

PayPal Andy, I thought we were discussing the continued slowness of PayPal bank transfers? And they are getting worse, I might add! It used to take a ridiculous three days and now it takes an incredible five to seven days!

PayPal has an agenda I'm sure. They are either drawing interest with their customers money or purposely making it slow to force their customers into putting their credit card information online! OR BOTH!

I do not see how a PayPal debit card helps you transfer money out of your personal bank account? Your answer is the standard run around I get when I call PayPal Customer Service!

PayPal had better start listening to their customers complaints and fixing the problem! People are sick of this wait period and it never gets better! In fact it is getting worse! How pathetic!

[digtheradness]

AGREED.

Already verified accountholders trusting Paypal with very private, sensitive information that is our livlihood.. social security numbers, and bank account information. Once we are verified... what are you doing with our information Paypal? I mean aside from absolutely nothing productive. -_-

In my opinion paypal is not handy in the slightest. The only reason I got a paypal account was because i didn't see an option anywhere on the ebay checkout screen (or any other **bleep** screen for that matter) for paying without a paypal account. So, forcing your way in middle man.. then have MY money floating about the unkown abyss while you lollygagging **bleep** board directors stick to some method that is inconvenient for and **bleep** off your account holders. VERY efficient, paypal.. -.-

I would much rather use my bank debit card/ bank account directly... I don't want my money switching so many hands anyway. So just as soon as a week or more passes and my money is back in my bank account, I am canceling my paypal account, and I will never make another one.

I NEVER WANTED ONE IN THE FIRST PLACE, PAYPAL. < Just so we are clear, you conniving **bleep**.

[SNAILS]

A PayPal transfer from your bank account is an absolute joke. I transfered on July 5th. and today is the 11th. and it's still not completed. PayPal always blames it on the bank, but the bank gets it right out. I have checked!

I'm not sure what their game is, but I'm sure that they have some kind of scheme going because there is no way that transferring money takes that long? I am totally disgusted with their shoddy explanations! I'm about ready to tell them to go fly a kite. I got a PayPal account for speed, but waiting 7 days for a money transfer is NOT speed!!!!!!!!!

PayPal, your money transfers are pathetic! You should be ashamed of yourselves for scamming your customers!

[little_sapling]

My bank confirmed the funds left July 7th. It's now the 11th, my five business days are up, and...apparently Paypal is still waiting to get them in. But, I'm glad I'm not alone on this. :[ I'm not even mad, I'm just--concerned. It was a pretty big chunk of change I sent over. Hnnngh.

[unclehair]

I ended up calling and speaking to the outsourced paypal associate in India, I believe, who ASSURED ME that the timely manner they are using was to conform to all government regulations to secure my money and make sure it was properly directed to my account. Um.....what? That's called money laundering. When you ship money from one hand to another to another to another to another and it crosses more state and country boundaries than Ma Bell, um, yeah, that's what that is called. Funny story: 3 hours after my call (on day 6) my money appeared in my paypal account. FORTUNATELY for me, the sellers I buy from on a regular basis were more than understanding because apparently, Paypal was playing hide the salami with their money as well! Not just bank transfers, but simple payments and collections from sales. "When you absolutely MUST get it there on time because your life depends on it, hold up a liquor store wearing a paper bag with the words "Processeing Transfer, thank you for using Paypal"."

[jman69]

I requested a withdraw on July 13 and was told it may take until July 22 to receive the funds in my bank account. That is completely unacceptable.

I've used echeck deposit method (didn't use Paypal) to add money to a poker site and when I've requested a withdraw, the money was back in my bank account the following day. You withdraw Monday and can expect the money Tuesday. Why the **bleep** is PayPal quoting me 9 days for a withdraw?

When I deposit to Paypal it is also slow. They take the funds from my account in 1-2 days, but make me wait an additional 6-7 days afterwards to credit my account with the money. I understand money has to clear, but it can obviously be done faster than whatever system you have in place.

[paulvincent1]

Their story, and they are obviously sticking to it, is that they can grab the money from your account and into theirs at the speed of greed but to transfer monies back, it supposedly has to go through the "Federal Reserve ... their creative pseudonym for an off-shore interest bearing account.

[Trishanne420]

This topic is a little old, but after reading the posts, I have to respond to this. I do transfers to my Paypal account from my bank account a few times. I have a Paypal debit card and it still takes forever! I did a transfer last week, the money came out of my bank the next morning but here I sit waiting for my money to appear in Paypal. Call me crazy but I was under the impression these were electronic transfers, but I'm having visions of people sitting around with an abacus and a pencil at the rate this goes. I have transferred my money out of my bank to other things and NEVER had it take as long as Paypal does.

[SNAILS]

PayPal is making money on your money! You can imagine the amount of money being transferred at any given time or I should say in PayPal's case, in the "Process" of being transferred"!  At any rate the longer they hang on to it, the more interest they make! Even at 1% they are making a killing on your dime! Transferring funds takes as long as they need it to keep their balance at a certain level to draw the interest that they are used to!

They could do it quicker, but it would eliminate their "Free" interest money! Until somebody high-up in the PayPal organization blows the whistle on them, they will keep on doing it! Business as usual, so to speak!

No matter where you turn, the consumer finishes last!

[heavytank2]

"It is definitely a feature of PayPal that we will hold a check, an eCheck payment for four days until it clears through Account Clearing House. It’s really not related to eBay Checkout."

That is probably what most of us are encountering. I had several smaller paypal transfers that occured instantly but under a "debit" function instead of "echeck", which obviously they will hold until it is cleared.

Its not so much about verification, but verification of funds. Remember "bounced check"?