how can paypal justify this??????

[fawd1]

Yesterday I paid 5 pounds for the faster withdrawal into my bank account. Today, more than 24 hours later, the withdrawal is still showing as pending. This means that I will now have to wait until at leat Monday to get my money. Quite apart from the absolutely ridiculous delay which as we all know is completely unnecessary in this day and age in regards to transfer of funds, I am at a complete loss to understand why there is a delay from the side of paypel in actually transferring my funds. The minute that I say they should leave the account, they should leave the account!!!! To top all of this off, I then noticed that there were amendments within my terms and conditions that state that from the 10th July, Paypal would be transferring funds using faster payments which means the funds should be in my account within 2 hours. So, Paypal have broken their OWN terms and conditions, I have paid for a slower service than that which according to PAYPAL should now come as standard, and to top it all off, I STILL DONT HAVE MY MONEY!!!!!. Paypal needs to understand that they are acting as a bank. I am not borrowing the money from them, IT IS MY MONEY. They have absolutely no right under law to withold my funds when I request them. If I find that my money is not deposited into my account within the next 2 hours, I shall be making a formal complaint to the OFT and the FSA.

[kernowlass]

The 2 hour transfer is not available in the U.K yet.

When it goes from pending to completed that is the timescale for the transfer.

Whilst it is still pending paypal have not processed your request yet.

[fawd1]

But they should have done. I have paid for my money to be transferred quickly and it hasn't even left my account. I don't believe there is one person behind every withdrawal pressing the appropriate buttons, this is all automatic on the system and should be done the second I press confirm. Secondly, If 2 hour withdrawals aren't available in the UK, then Paypal should not update my terms of use. As they have done this and are not providing the service that they themsleves have now stated as standard in their terms of use (there are no disclaimers explaining that only some people can have the two hour transfers, or when everyone will get it etc etc), then they are breaking laws which state that they must provide the service as promised to their clientele.

[kernowlass]

Did not say i agreed or disagreed with the way its done, just stated how it works at the moment.

[manicboom]

Same problem here withdrawed 500 quid useing the fast payment on the 18th its still pending 48 hours later its a joke and ripoff

[fawd1]

They should then be informed that Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007, otherwise known as the PSD was recently amended.  Article 69 of the PSD establishes that a payer’s payment service provider (PSP) must ensure that a payment is credited to the account of the payee’s PSP by the end of the next business day after the point in time of receipt of the payment instruction. This particular PSD provision, commonly referred to as ‘D+1’, comes into effect on 1 January, 2012.

Loosely translated, BY LAW ALL MONETARY TRANSFERS MUST ARRIVE IN THE RECIPIENTS ACCOUNT NO LATER THAN THE DAY AFTER THE WITHDRAWAL WAS MADE. This has been the law for most EU states, UK included since JANUARY 2012. Put another way, Paypal has regularly been breaking EU directive knowingly and willingly for the last 7 and a half months. As such, every single person who receives their payment in any more than 24 hours has a valid cause for complaint to the Ombudsman.

I would recommend that for the sake of Paypal they transfer my money immediately or I will feel morally obligated to ensure that all of your users on this forum are made aware of ebays non compliance and inform them of their right to complain, and have their complaint upheld by the ombudsman.

[fawd1]

They should then be informed that Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007, otherwise known as the PSD was recently amended.  Article 69 of the PSD establishes that a payer’s payment service provider (PSP) must ensure that a payment is credited to the account of the payee’s PSP by the end of the next business day after the point in time of receipt of the payment instruction. This particular PSD provision, commonly referred to as ‘D+1’, comes into effect on 1 January, 2012.

Loosely translated, BY LAW ALL MONETARY TRANSFERS MUST ARRIVE IN THE RECIPIENTS ACCOUNT NO LATER THAN THE DAY AFTER THE WITHDRAWAL WAS MADE. This has been the law for most EU states, UK included since JANUARY 2012. Put another way, Paypal has regularly been breaking EU directive knowingly and willingly for the last 7 and a half months. As such, every single person who receives their payment in any more than 24 hours has a valid cause for complaint to the Ombudsman.

[fawd1]

My payment status has now shown as completed since Friday. This morning I contacted my bank to ask them why they were witholding money from my account. Lo and Behold, they weren't. NO ATTEMPT AT ALL has been made by paypal to deposit any funds into my account. So,

The money will be in your account in 1-2 working days= LIES

The money is now being held by your bank= LIES

We will refund the 5 pound you paid to ensure you receive your money promptly= LIES

WHERE THE **bleep** IS MY MONEY YOU LYING THIEVING SCUM. I have children to feed!!!!

[Segun]

Paypal Paypal Paypal... I don't know what to say anymore.

It seems like greed is running Paypal.

1. They leave their system vulnerable to Chargebacks by not double verifying a user before transactions.

 hence any hacker that can use the bogus script sent by email can get anyone password and make purchases.

2. Faster payment. Paypal as made a fortune by keeping peoples money in the system up to 21ddays without interest which is against the law.

That counter that tells how many transactions as been made daily via Paypal is evident that  Paypal has a lot of money to cover all frauds that their system allows, digital or no digital product.

Paypal FIX yourself and don't have to be fixed by the law.

Learn from Moneybookers very secure and charge backs just don't happen and with fast with withdrawals and payments.

Common Paypal.