where is my money?

[fed_up]

i initiated a withdrawal of £605 from m paypal account on tuesday 8th at 0755 this money has not reached my account, it is now the 10th, paypal have failed to transfer the money in the time frame that they state, i paid £5 for a 1-2 day transfer they have exceeded the limit and the money has still not reached my bank account yet an ordinary transfer that i made on the same day has reached my bank account, so what has happened to my money? and will i get my £5.00 back?

[lindopnet]

I appreciate systems **bleep** up at times, but ther is no excuse for the lack of updates or even a statement from PayPal.

A brief email would have been the least they could have done.

Pity they will be the ones getting interest on all this limbo money.

Gary

[mrveryangry]

have now had 2 mails from paypal both state money will be cleared into our account by Tuesday my assumption is that they are going to do wire transfers on Monday thus by saying Tuesday they are covering themselves as this would be standard 1-2 day timescale.

But still no apology

I am not sure about the FSA as Paypal have made great efforts to not be classed as a bank and are a Luxemburg based company so not under UK regulations (or Tax)

Do not hold your breath in expecting any compensation for losses or cost can not see it happening as at the end of the day if you want to trade on Ebay you have to have paypal option so they know we have no choice but to stick with them

[celox]

I too withdrawn £82 on Tuesday 8th and it still hasn't gone in. I also withdrawn another £300 on the 9th which has gone in to my Natwest account, but my 3 withdrawals on Thursday 10th still haven't gone in yet and they were for a large amount!

I really do hope the 3 withdrawals made on the 10th go in on Monday, otherwise it looks as though they have gone missing too.....

I contacted Paypal today (Saturday) and spoke to a call centre maybe in India. After 7 minutes in conversation I get cut off by Paypal and they didn't even phone me back. I gave them a few minutes to call me back, so I decided to call them myself but just got an answering machine message saying they were closed and to phone back during normal office hours of Monday-Friday. So if that's the case then who have I just spoken to at Paypal if they are only meant to be open Monday-Friday?? This is quite bizarre.

I don't know if Watchdog are taking calls for the new series, but I will sure be contacting them on Monday as well as a couple of mainstream newspapers. With this many unhappy customers you can be sure that they will listen to our comments.

[jc73]

Paypal uk is a subsidiary of paypal Europe which has its head office in Luxembourg. Paypal uk is regulated by the fsa

[lindopnet]

This is getting unbelievable - I can't withdraw from the cashpoint with my paypal acces card now !

What do you have to do to get at your money ?

Gary

[wigggyy]

just got this email (see below) which is obviously untrue as I spoke to customer services yesterday who said it was not a fault with my own bank and have refunded my £5.00 fee just hope it turns up next week come on paypal just come on here and give everybody a straight answer to your **bleep** up

I appreciate the time you have taken to contact PayPal regarding your recent withdrawal totalling 164.00. I am sorry to hear that this payment has not cleared to your bank account and regret any inconvenience caused.

After reviewing your account I can see that the payment was processed within 25 minutes of your request. We passed the payment to your bank via wire transfer as requested. As a result I can confirm that there were no delays or security reviews inside PayPal for this transaction.

It takes your bank 1 to 2 working days to process the payment. Your transfer was expected to clear by end of business on 10th May 2012.

If you are unable to locate the deposit in your bank account and the status of the transaction is still 'Completed' in your PayPal account history, we can trace your withdrawal once 14 working days have passed.

Usually if there is a problem with a withdrawal, it is returned to us and the money is reversed back into your PayPal balance. So far, the withdrawal has not been returned to us.

We would recommend contacting your bank to enquire about receipt of the withdrawal. If the money is still not in your bank account after 14 working days, please contact us and we can then begin a search for the missing funds. For our contact details, just click the 'Contact Us' link near the bottom of any PayPal page.

Note: You may be required to fax a copy of your most recent bank statement to us, to assist our search.

I trust I have resolved your query. It is my pleasure to assist you. Thank you for choosing PayPal.

Yours sincerely,

Marc

UK Top Customer Department

PayPal

[fed_up]

Received from Paypal this afternoon

Thank you for contacting PayPal regarding your missing withdrawal.

I understand your concerns in regards to your missing withdrawal. This has been an issue and this has now been resolved.

The funds should be showing in your bank account on Tuesday 15th May.

I have also had the 5.00GBP fee reversed back to your PayPal balance.

Thank you for your time Mr ****.

Yours sincerely,

Andrew

PayPal

I'll believe it when I see it............we all get a different story

[Kelme]

It seems that a fair few people are now getting the line that the payment will be in accounts on Tuesday. This would suggest that the cause of the problem was identified Friday and that the transfers were re-done.

If that is the case then it could be that some people will see money in their accounts as soon as tomorrow.

We shall see...

[DannyB83]

I've had the same problem. Contacted Paypal last Wednesday as noticed 2 withdrawals had been received by my bank that were made on 9th, withdrawal from 8th was missing. 

I was told to wait a further day as the funds would arrive in my account. Nothing. Called again and was told it was a problem with my bank. Called my bank and literally argued with the staff members (I hate my bank) but after going into my accounts over and over nothing was found. Rang paypal back and suddenly someone seemed to have gained knowledge that there was an issue (Thursday) and informed me the money would be in my account by Friday morning. Come Friday morning nothing had appeared so contacted them again, this time I was informed that the problem was with the clearing houses at the Bank of America. 

I know that sometimes thing go wrong, I can accept that and am willing to let it slide when it does......BUT I expect to be informed as quickly as possible if there is an issue and not given false hope by staff (not the staffs fault I'm sure as they all seem very nice and helpful) who seem to have been left clueless by the higher power.

Every fortnight I get to see my two wonderful children, the money I earn through paypal goes towards feeding them and making the most out of the weekend I have them for. This week I promised them a trip to Oakwood Park, If I had been informed Wednesday that there was an issue I'd have found a way to earn extra money for this weekend.....but because of false promises I was left with a weekend of little food, no gas, little electric and two very unhappy children who never made it to Oakwood park. 

So Thanks Paypal! You've made our weekend!

Dan, Teya (9) and Wyatt (7).

[celox]

Come on Paypal, it would be nice for a statement about what is going on please......

This is just not right to keep people guessing what has happened to their money and to leave your customers pennyless. There's no other bank I know that would do this and when you are telling people to wait for 14 'working days' before you can trace where the transferred funds have gone is just wrong! With so many complaints you should put a trace on the funds immediately.