Recent withdrawal queries

[PayPal_david]

Hi everyone,

I'd like to apologise about the delay in giving an update on this. We have been investigating your queries and responses.

Nowadays, we aim to withdraw money to your bank within 2 hours of you initiating it from your PayPal account. This is much faster than before.

However, our system delays a small amount of withdrawals for security reasons. These will usually take 21 hours to complete, a very small amount can take 72 hours. These will show as being “under review” in your PayPal account.

You can find the small print in our UA in section 6.2.b.3.

P.S. While I hope this sheds some light on the situation, I understand your frustration and confusion. I’ll make sure to forward your feedback, too.  

Thanks,

David.

[jaglover]

Hey Paypal,

Some time ago I posted a message to this thread that was reasonable, professional and which indicated my understanding of your situation.  SInce then, there has been no further input from Paypal moderators and many more posts in this and other threads from angry and disappointed users.

Paypal_David, your original post was entirely inadequate but we gave you the benefit of the doubt.  However, here we are in October and withdrawals from Paypal remain slow and unpredictable.  It is well past time for you to reply to my original post in this thread and give us all some reassurance.  Until you do, the flames on this forum will continue to rise, and be indexed by Google in the usual way...

[Con5uelo]

Hi, Mine says completed but i've still not recieved monies into my account.

What ever is going on it needs to have some light shed on it as it's not what we like to be charged for, Paypal is supposed to be a convenience, and so far i've had nothing but delays.

We get charged a nominal fee for using PayPal on the transactions that go on within the account, and yet... we're not seeing any benefit?

The fact my account says completed is somewhat concerning.  Where has my money gone?

[PeterR]

I've just had an email from PayPal which says

"For security reasons, we are reviewing your withdrawal request, which could take up to 24 hours. After our review is complete, PayPal will release your funds. It can take up to an additional 2 hours for those funds to be deposited into your bank account."

* I've never had this before

* I've not had any eBay sales

* I'm using the same bank account I've been using for years

* I'm using the same computer and internet connection I've been using for a long time

* The amount is not unusual (GBP 70).

I object to this and am very suspicious that this is a way for PayPal to gain interest on money.  I've not heard of any other online banking system doing this, and they all have "Faster Payments".

[dourbint]

Yes I know. The issue is being touted as 'SOLVED' but it is not.

It's a scam by paypal to gain interest on money in light of the faster payments decision.

Simply by justifying it in their small print with 'we reserve the right to make occasional  security checks' - when the 'checks' are anything BUT occasional - is NOT GOOD ENOUGH.

The problem is widespread - a google search will tell anyone that.

Stop withholding funds to make interest on my money paypal. I want to earn interest on MY money!

[jaglover]

Exactly.  Even I, Mr. Bl**dy Reasonable, am reaching the end of my tether.  I've been a merchant-class Paypal user for at least 12 years and while Paypal has grown into a multi-million dollar, multi-national business it still has the the customer relations performance of a half-*ssed website run by some bloke out of his flat - and I mean no disrespect to all the brilliant little flat-based businesses out there.  Let's face it, most of them have to rely on Paypal as well as me.

Small businesses make promises to their customers every day.  We all run with super-tight cashflow and right now Paypal is not helping us to keep our promises - it's making it harder.

For the benefit of those who joined late, let's get this straight.  In the past, Paypal had two withdrawal methods.  One, which was free, took 3-4 business days to get money from Paypal into a real bank account.  The other, which cost a fiver, promised to get money across in one business day but almost always did it in half a day.  Thus, we had the option to get money real fast if the business need justified it.   The new system SHOULD be the £5 option without the £5.  In fact, it's some unpredictable process with the only guarantee being that the money can never be in your account the same day.  It's not Faster payments; it's Slower Payments.

[kernowlass]

Not sure if this helps but interesting info.

Spect it will take a while to completely filter through.

http://www.bbc.co.uk/news/business-19814433

[PeterR]

*IF* as they say in the BBC article

http://www.bbc.co.uk/news/business-19814433

they have "a regulatory obligation to make a certain number of security checks" then they should

(a) do security checks when there is genuine suspicious activity

(b) do security checks on unsuspicious withdrawals only when they have sufficient staff with time to complete them during the next hour

Having said that my wife had her eBay account hacked this evening, but that was several hours AFTER PayPal put my withdrawal on hold.  Her eBay account and the PayPal account from which I was withdrawing are not connected to the same email address though they have the same postal address and telephone number, so it would be understandable if they had put my PayPal account on hold for a few hours *afterwards* just to be safe, but methinks this is unconnected given the order of the events.

Kind regards

Peter

[klb8768]

Why is my money still pending!! I spoke to a lady from paypal on the phone earlier and she assured me the money would be in my account by midnight, and it would stop pending by 10pm!!! What is going on I need this money ASAP and once again having problems with paypal!!! I would like an answer ASAP please.

[kernowlass]

To ask customer services go to contact us bottom of paypal pages > email or phone.

[RowBot]

How interesting that this appeared on the BBC website and yet there is still nothing on Paypal's account this technical difficulty. I recieved an email from Paypal only yesterday that claimed that nothing is wrong and my constant withheld transactions are normal.

What the **bleep** is wrong with this company!?