Withdrawal rejected: does not make any sense!

[SR2011]

Hello!

It seems lots of people here are having problems with withdrawals!

I withdrew a small amount of money from my PayPal account on 6 October to the same bank account I have been using for years with PayPal (no problems before). The transaction showed up as completed, but on the 12th I received the following message from PayPal:


"Hello xxxxxxxxxxxxx
 
An electronic funds transfer from your PayPal account to your bank account was rejected today for this reason:
 
Invalid Bank Account Information
 
Our system was not able to process the transaction with the bank information listed on your account. You should contact your bank regarding the bank account information required for electronic funds transfers. If you still need assistance, you may email us through our secure server at https:///wf/f=act_verifyba
 
Thanks for using PayPal, the world's #1 online payment service!
Thanks,
 
PayPal"

Now, the bank information listed on my PayPal account has not changed. It's worked fine for years. I've verified the account ages ago and I've been withdrawing money weekly to the same account. Actually I made a withdrawal on 4 October and it went through. So 4th October: withdrawal & bank info ok. 6th October: not ok. I didn't change my bank details and my bank does not understand why there should be a problem.

I made another withdrawal on 10 October and it also shows up as "completed" but the money's not on my bank account yet (my account's in Finland, it normally takes up to 4 working days so it should be there today). Since it's not showing, I'm afraid the money will be returned again to my PayPal account and I'll be charged for it even though the mistake is not mine.

I have now changed my bank information to try with another bank account...but I don't really understand how this can happen, and I need the money!

Edited 14 October: And the 2nd withdrawal I made on 10 October is still not on my bank account. But it also is not on my PayPal account (transaction is still showing as completed). It's like it's disappeared into thin air!

However... I was refunded the €3.00 that was charged for the first returned withdrawal! I contacted Europeanservices (at)  paypal (dot) com... and someone refunded the fee. This was very helpful, unlike the replies I've had after using the "Contact Us" service which I've found, sorry to say, absolutely useless.

[JE4Light]

Had the same exact problem. How many days does it take to delete bank account and then readd? Is that a failproof way of withdrawing the money without a 'technical error"?

It's a load of bollocks if you ask me.

Provide a service, do it right, and don't leave people stranded without money.

[SaHA]

I tried to withdraw funds to my Nordea bank account on Oct. 16th and got the money in return to PP on Oct 21st. with the AHC withdrawal denied - message. Having sent an email the same day to the support, I also made a phone call on Monday 24th to PayPal. I also called Nordea but they denied any knowledge of bank account detail changes. On the phone with PayPal, I was given the advice to delete and re-add the bank details and try again, and so I did and made a new withdrawal request. Later the same day I also got reply on e-mail where I was told the error was at  the "bank" as "they" had made changes in connection to new financial regulations in Finland. Different answers. I have still not received any money into my bank account and if they are not there by tomorrow, I assume the second transfer failed as well. I am not 100% happy with this, and I hope it will be resolved soon. After all, the SEPA introduction and IBAN account thing was not invented yesterday so IMHO there should have been time to have this settled.

[SaHA]

As a follow up - the second attempt worked out so for now, everything is fine. It would however be great if one could enter the IBAN number instead. Hope this will be implemented soon.

[jannek]

I made a withdraw to my old account and then deleted it and added a new one and made another withdraw.

And both transactions came through today in schedule! 🙂

So for me it didn't matter if you re-added your bank account or not.

[itt707]

Last 4 withdrawal attemps all failed, all in October 2011:

The same message every time:

An electronic funds transfer from your PayPal account to your bank account was rejected today for this reason:

Invalid Bank Account Information

Our system was not able to process the transaction with the bank information listed on your account. You should contact your bank regarding the bank account information required for electronic funds transfers. If you still need assistance, you may email us through our secure server at https:///wf/f=act_verifyba

[livermorejack]

I've been having the same error with three tries. Invalid bank information. Have you figured out any solutions?

[PayPal_Wayne]

Hi there,

Removing and re-adding the bank account worked for most people I've come across. Once you have done this try your withdrawal again 

Wayne

[Asr]

Hi Wayne!

I also have same problem with Nordea Sweden, now for second time!

The first time I didn't have clear code 3300 before my bank account. After first failure I made it correct by deleting bank account and adding new one with clear code+bank account!

but now after 4 days I received denied email again and my money charged for second time for this failure transaction!

whats wrong exactly?

[VicAnt]

Hi wayne I have the same problem "ACH withdrawal denied" I can't withdraw into my bank account and I try to remove and re-adding the bank account again and I got this message "That bank account is already assigned to another PayPal account. For security purposes, each bank account may only be assigned to one PayPal account. Please use a different bank account." 

I have no idea what's going on I only have one Paypal account (already verified) and one bank account and this is the first time I try to withdraw my money... really need help here, I need to withdraw the money into my bank account "PT.BANK MANDIRI Tbk" Indonesia.

[TobiasFalang]

So tell me Wayne.... when are we going to get back the money from all the "return fees" that we had to pay because of your technical errors?

This is some BS!

I can promise you that Paypal made ALOT of money from this!!! They charge people for their transactions claiming that an error occured, and they charge you in return fees! They are basicly stealing from us and all they say is "update your bank acount and try again" this way they get away with stealing your money!

When I finally get my money from my paypal account to my bank account Im leaving paypal for good!