Faster withdrawal to bank account problem

[chessalls]

I have recently made quite a few withdrawals of funds from my paypal account to my bank account some of them  using the "faster" method paying £5 each time and I am certainly not happy!

I made two withdrawals on Thursday 19th using the "normal" method one finally reached my bank account on the Tuesday and the other on the wednesday!

I have made two more withdrawals one on the 27th and one on the 28th and I paid the £5 fee to transfer them quicker as I couldn't wait the length of time that the last two took!

The one from the 27th was still pending this morning (30th) and has just cleared in my bank late afternoon today 30th. The second one from the 28th is still pending!!!!

Paypal have refunded the fee for the one on the 27th and have said nothing about the one on the 28th!

I am so angry that a large company like paypal have behaved in such an unprofessional way! I know that these faster payments are sent via CHAPS and they clear within 2 to 3 hours of being sent  so going by that paypal only sent the one on the 27th this afternoon (30th) and I don't know whats happened with the one on the 28th as that is still pending!!!

I would expect fair compensation for paypal sending these payments late and not just the £5 fee refunded!

Sorry for the rant but they have really p****d me off today 🙂

Has anyone else suffered with this lately?

[lillieb]

hi i paid paypal on the 29 and 30 jan to transfur my money faster to, i still havent recived my payments in to my bank yet to, like u say it only takes 2-3 hours to do this so if paypal have no intensons of doing this they shouldnt be chargin people 5 pound fees, paypal must be rolling in it charging a 5 pound fee to get your money on each transacton and wireing it as normal, i think its out of order PAYPAL and i want my money, there quick enouth to take it out of a bank account so whys it take days to put it back?

[RowBot]

Hi,

What's probably happened is Paypal have put a hold on your withdrawals for 72 hours. They do this for 'security reasons'. Everyone should be made aware that Paypal can withold withdrawals at will which will delay you getting your money. Don't expect them to give you any warning about it. When I asked why I wasn't told why my money would be late I was told 'it's not in Paypal's policy'.

My advice - make a complaint via the 'contact us' bit on paypal's site. Don't expect a straight answer 1st time round. Keep making complaints until you get somewhere. I made 3 complaints & eventually got £25 compensation. You won't however get your money any faster. If you're not happy about this diabolical service & Paypal's willingness to deceive their customers let them know - I'm making a complaint to the Financial Ombudsman & the more people complain the more likely it is something will be done about it.

Good luck

RowBot

[Vintage1]

My account is a new PayPal account for my business. To date I have paid the £5.00 fees to EXPRESS 5 withdrawals to cover monies coming out from my bank account. These are the only withdrwals I have ever made. EVERY SINGLE withdrawal has been delayed. I've complained every single time and receive the same automated replies back 'unusual activity' .... 'occasionally hold for extra security verification' ... what is unusual about wanting MY MONEY transferred to MY BANK ACCOUNT. And how does OCCASIONALLY really mean EVERY SINGLE BLINKIN TIME. Because of their delays I've incurred a £35.00 bank fee. I'm fuming and what makes it worse is not getting any sense or any direct answers to my direct questions. I've even rang ... and receive the same 'standard paragraph' verbal there too.

Nochex sounds like a good option to me right now ... and it's cheaper - although as far as I know they don't express withdrawals.

[Vintage1]

Update ... my latest and supposedly EXPRESSED WITHDRAWAL was requested on 29th May ... after filing a complaint with PayPal they have just emailed me to say

"Your £150.00 is expected to show on your bank account on 7 June 2012"

Now I'm really fuming!!!!!! ARRRRGHGHGHGHGHGHG

[susier]

Is it just me or does everyone else hate that word  PENDING

[Vintage1]

I think in PayPal's dictionary "pending" means "Holding onto cash for as long as possible to accrue interest on said monies".

[Vintage1]

I'm still receiving the same waffle from PayPal ... in their latest email they have decided to invent a new day in the calendar:

"I would like to inform you that the £5 charge has already been cancelled and return it to your PayPal account balance on 31-Jun-12"

Sounds like my £5 will go into a black hole called 31st June ..... 

I'm actually tired of moaning at them - it's not getting me anywhere and puts me in a rotten mood.