Checking Account Verification, Usage

[PD64]

Two questions related to the use of a checking account to transfer money into my Paypal account from.

1. I just linked my checking account to my Paypal account and attempted to verify my account right away. After clicking on the button to verify and entering the two amounts Paypal deposited, Paypal said it couldn't verify my account.  I was then told by Paypal that it would take 3-5 business days to verify. That being said, here's my first question. Why does my Paypal  account show "xxxx xxxxx xxxxxx CREDIT UNION Checking (Confirmed)"?"

note: x-####" x=my bank name, #=account info <---didn't want to put my private info in the forums

2. Will I have to wait 3-5 business days everytime I want to transfer money from my checking account into Paypal or is the wait just because of the verification process?

Any help to the above questions would be greatly appreciated.

[PayPal_Andy]

PD64- Those are some great questions, lemme take a shot at 'em.

1) The only way I can think that the bank was showing confirmed like that is if you did the instant verification method.  Did it ask you for your online bank login information?  If so and you provided that, our system goes to log into your bank account.  If it can get in, your bank is automatically verified.  It's pretty slick.  If that fails, then we would use the random deposits which usually does take 3-5 business days before those amounts are in your account.

2) Anything involving a bank takes 3-5 business days.  Transactions and verification.  The only way to hurry that up is to add and confirm a credit card.  Then we'll enable the Instant Transfer payment method, which is where PayPal pays for your item then we wait the 3-5 business days to get the money from your bank to pay ourselves back.

Hope that answers your questions!

Andy