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?

[nuthallbob]

Me to still no money when I have bills to pay this week end

when I phone pay pal they told me it was my bank fault

it is not good enother to be lied to when they new they had  the problem

[chessalls]

I received this emai 3 hours ago:

Thank you for contacting PayPal.

I understand your frustration regarding this matter and regret any inconvenience this might have caused.

There was a problem on the 8th May with the faster withdrawals and we are investigating this issue. It is our top priority and we have not given any timescales and it is not 14 working days. As soon as we get any information we will let you know.

?????

No money in my account from the "missing" withdrawals still. But to put peoples minds at rest regards to future withdrawals I did a faster withdrawal yesterday afternoon and it was completed at 7 this morning and in my bank this afternoon so the system is back on track now  so its total BS that they sent the payments yesterday evening if they had it would be in my bank by now!!!

[mrveryangry]

As I said the same standard reply which we all seem to be getting I also have donea faster transaction since with no problems Completed at 0950 in my Bank at 1400 same day but I am sure this is not the issue with any of us it is the "bury their heads in the sand" attitude of Paypal and total lack of timescales regarding a solution

[pedrog]

It would seem that they have no idea where our money is or know how to resolve this. I feel that the will is not there! I emailed and asked whether my £5 would be refunded. I got back a useless message telling me that if I have incurred bank charges I should let them know

It would seem that customer services are incapable of even reading e-mails properly. I'm astounded that there has been no formal response on this forum or any messages sent to those affected.

If we ran our businesses like this we simply wouldn't last.

WAKE UP Paypal. You cannot just lose peoples money without explanation

We deserve a response from a senior member of staff who knows what is going on. All of the customer service reps seem to be making it up as they go along.

We don't want apologies - We want OUR Money!

BIg FAIL  !

[jc73]

PayPal are regulated by the Financial Services Authority and we've complained to them today about this.

I suggest that other sellers that are going through this do the same.

Make sure you let PayPal know in any conversation that you have with them that you have or will be making a formal complaint to the FSA about this.

PayPal don't like attention from the FSA about their failings as the FSA have the ability to fine them so get on it people

http://www.fsa.gov.uk/doing/contact/fcc.shtml

[lindopnet]

And another one here, withdrew £1400 on the 8th 8.20am, Just checked my bank and still not there.

I too have been fed all the same excuses.

Not overly impressive as I now have to withdraw from cashpoints at £2 a pop.

Gary

[pedrog]

Just received this:

Thank you for contacting PayPal regarding the issues you have experienced with the faster withdrawal on 8th May 2012,

As this issue is currently still under investigation we cannot guarantee when the funds you have transferred will be available in your bank account.

I can advise the 5.00 GBP fee you were charged for the faster withdrawal has been refunded back to your PayPal account and will be available within 24 hours.

I do apologise for any inconvenience that this has caused

It would seem that all of this "It will be in your account today/tomorrow/tonight" were not exactly accurate.

[Kelme]

What seems clear at this stage is that our money is missing and Paypal don't know what's happened to it.

If they did know what had happened to it, the issue would have been resolved by now. This also explains the lack of any official response from Paypal in this topic. They aren't responding simply because they can't give any useful information.

It doesn't help that the customer support staff dealing with this don't seem to have been given a 'party line' by management on what to tell customers. We're all hearing different things. While getting our money would be thebest outcome right now, a definitive response from Paypal, even if it said "Sorry, we have no idea" would be beneficial.

Paypal also need to ensure that people are automatically refunded the £5 fee without having to ask for it. I've been told the £5 wont be refunded. More unhelpful confusion. In addition there needs to be a simple system for claiming back charges we've incurred. I'll get charged £60 by my bank for direct debits taking me into an authorised overdraft if the money doesnt turn up on Monday and Paypal will need to pay me back for that.

In Paypal's defence, any complex system is going to **bleep** up occasionally and while it's annoying to all of us not to have our money, nothing will be achieved by abusing Paypal staff who probably know little more than we do, or by calling them 10 times a day demanding an answer.

The problem will be resolved, we just need to be patient.

[pedrog]

I agree with you Kelme and what you say makes sense but being patient is not an option for some.

If you read some of the comments made you will understand that some folks were bankng on having their money in order to manage this weekend.

While mistakes are made and, generally, paypal offer a good service, the lack of consistency in communicating the problem has not helped.

Many, including me, were told that it was a problem with our banks. Without this forum we would not have realised that this has affected many people who use many different banking institutions.

Unfortunately this problem has left individuals without their money - money that they need to live on and businesses are now unable to pay wages.

I think it us understandable that people are frustrated and annoyed and that is the good thing about forums like this. They are a method of getting advice, letting off steam, calling Paypal to account and offering support.

Of course I would like the money in my account but I'm lucky that I can manage a little while longer without it. For many this is not an option so I'm not surprised they are showing their frustration.

[9k]

Hi Folks,i'm in the same situation,£1300 by wire transfer on Tues 8th,still no money in my account.I guess we all need to stick together on this one and eventually it will get sorted.I am calling every day,although i didn't realise customer services were closed until Monday,typical.To be honest i am furious the way Paypal have handled the situation,a direct line to help resolve this matter should be set up immediately.