Withdraw request under review

[angel58]

Am so fed up with Paypal, this is the third time in 3 weeks that they have held up my withdrawal of funds.  No reason given, no apologies.  I understand the fraud prevention reasoning, but the account name & number hasn't changed so why do they need to keep doing this.  The last two occasions it took 5 days for the money to go into my account. Am going on holiday shortly and want the money for my spending.....................this is my money !!  Maybe I'll ask my e-bay customers to pay by cheque then at least I know I will get MY money.

[picasso36]

i find it totally unaceptable and these so called security checks are a load of bull its jst so paypal can gain the much needed interest from other peoples money and hold their funds to ransom, 4 days ive been waiting for my money, not hours but days, i had to stump up the expensive postage costs myself as what they charge is way more than if you took it to a post office counter yourself, also that person has had their item 2 days now and im still waiting for my much needed money which paypal hold to ransom by the looks of things, so far im 30 pounds down due to postage costs, i have no item as it was sent and i have no money, i notice they were quick on the draw to take almost 15 quid in fees though, in future ill just do a bank transfer or alternative payment method because this service is a total shambles 

[Alwayscheck]

As a Mod can you answer and explain or comment on the following please:

PayPal claim that the 72 hr hold to review a withdrawal transaction are to meet EU directives. These relate primarily to money-laundering and there are clear and published guidelines in the UK and Europe which explain how financial organisations should meet their obligations under the Directives and its implementation into national laws.

I have read these carefully and I cannot see that Paypal comply with them by putting a random hold on withdrawals from known, verified customers and particularly where the amount being withdrawn meets none of the published guideline criteria for money-laundering vigilance. That being the case there can be no justification for operating this system in this way by Paypal - or do you see some other aspect I have missed?

I would ask that PayPal explain how having, as claimed to me by a manager, a software programme set to randomly intervene and hold withdrawal transactions for 72 hours meets and complies with the guidelines. I would also like PayPal to explain what in fact is the 'review' process they undertake (if in fact they do anything) during this 72 hour hold and how this meets the UK's published guidelines.

Given that I have spoken to a manager about the 72 hour hold on my withdrawal and they have been able to verify who I am and confirmed that this is a normal withdrawal  transaction - then why does that not satisfy or amount to a review ? and what justification can there be for maintaining a block or hold on transmitting my money after that ?

I am inclined to agree with other's comments in various posts that paypal are acting unfairly, arbitrarily and seemingly without good or legal justification although clearly any withholding of a withdrawal of a customers money is to the financial benefit of PayPal. Could you comment please.

I think the FCA should be invited by PayPal to review their conduct and adherence to ML regs.

[MacaelBond]

I am having the exact same problem!

[FrillyFrog]

I've had the same thing happen to me.  Pending still, after 24 hours. 

Reading this forum there are literally hundreds of posts on this problem, I don't see any answers from Paypal staff. 

ARE WE GOING TO GET A DEFINITIVE ANSWER TO THE QUESTION WE ARE ALL ASKING?

"WHY ARE PAYPAL RANDOMLY HANGING ON TO OUR MONEY FOR NO APPARENT REASON?"

[Roc24v]

I've been with Paypal for 10 years, a business user, withdrawing to the same account every day for all those 10 years, but EVERY withdrawal this week has been held in this security check, it seems to be happening to loads of people, several sites (tamebay for example) have picked up on this now and it's being mentioned more and more.

Seems to be to be a way of hanging on the money now they've been forced to take up faster payments.

[Sally4th]

I've just had that same mesage for the first time ever and for a piddling amount too- what is going on? I'm using my PC, the same one I always use and I've got an established account.

[Dianemc]

Hi, I've just joined this forum so that I can try to find an answer to this question of funds being held 'under review'.

It happens to me about every three times I try to withdraw funds to my bank account.  I get a message saying that it's under review for security reasons.  It is always done within 24 hours I must admit, but come on, every two or three times.  I'm a freelancer and get paid small amounts frequently.  I do make withdrawals to my account almost every day, but they are rarely over £50 and are most likely to be round about the £30 mark.  I don't get why they need to review so often,  I am the same person who has always had the account even though in the past few months I've used it more.  This is simply because I do more small jobs. 

[disgruntled001]

I have the same problem. I actually log in from overseas., and have done for many years. Last night I went to withdraw in to my account, a bank account to which I have withdrawn dozens of times over 8 years and got the same message. I think the reason is because of multiple accounts and cookies being crossed perhaps as my wife has just opened an account too. 

Anyway, it is not a goofd situation and regrettably it is not something I can live with and so will discontinue using this Paypal account and will raise the matter by way of complaint.

NULL POINTS PAYPAL

[stevenross]

Paypal have worked out that if they hold onto money that doesnt belong to them they can make millions each year on interest, then when you actually get your money released and try to withdraw it they put it on pending while they decide if  and when you can have your money, i have to wait 21 days to have the money in my account even though the customer recieves their goods within 48 hours. and i am still waiting for them to send it to my bank account now waiting 25 days and counting.

in this country if you take something that doesnt belong to its classed as THEFT.