Paypal Holding Money For 72 Hours!

[AngryIain]

So I recently created a paypal account just for the sake of one payment. My landlord in China couldnt bank transfer me my deposit back or western union me it so she suggested paypal. I create the account and she transfers the funds. The funds clear and I click withdraw. I get the notice that it may take up to two hours for the transfer to complete and I click confirm. After I click confirm I get the message saying it will take up to 72 hours. I have verified my bank, all details are correct so please may i know the reason for the "Paypal Review"? Are you just holding on to people's money in order to gain the interest to turn a higher profit or are you doing it to just be unreasonable. Surely you can see all the other user's angry comments on the site so why not try to resolve the matter or give an explanation as to the reasoning why? If paypal wants to remain the powerhouse of online money transfer I suggest they start caring about their customers more. Some people make a living off paypal and they need that money a lot faster than 72 hours. Resolve this paypal.

[coolbream]

i am not sending any items out untill i get my money.....

would you go into the local supermarket and say i will give you the money in 72 hours???

they would tell u to do 1.....

not happy......

[SellStuff193]

I've just run into this 72 hours to process a withdrawal issue. Basically, I have a business account with Paypal, it's been kept in good order without any issue, and with all limits lifted since some while ago. The other day, I requested a withdrawal and was notified that the request was "under review" by paypal and would be processed in 72 hours. When I called Paypal and queried this, they informed me that the 72 hour "review" was for unspecified reasons, and was routine. It's interesting that paypal where able to tell me the precise time-of-day to the minute when the funds would be released. It's clear to me in this case that this 72 hour period is not a "review" at all, but more the case that Paypal has quarrantined the funds for a specified period of time. I guess Paypal have decided to use the word "review" instead of other more descriptive terms, probably to avoid adverse publicity.

I have not encountered any other bank, or payment processing provider that randomly without notice imposses this kind of regime on a verified established business customer. It seems to me that Paypal has so little confidence in their platform and so little trust in their business customers, that they are nervous about expediting withdrawal requests.

[ronnilobby]

I too have had enough only used it once i was ripped off£400 the other day as was sent a scam email suppose to be from paypal telling me to send the item so i did as i didnt get any money from sending that item i was forced to sell another i was paid by paypal which took 3 days just to clear and now its the day before xmas eve and i gotta wait another 3 days i was using that money for xmas but now im **bleep** no thanks to paypal i think google have a site similar to paypal so once i have my money i will be closing my account im so angry

[Mephistophele]

Same here.

Paypal staff denies to ever said to customers that if after 3 months your account is in order you can have the immediate withdrawn.

Very rare always 24 hours mostly 72 rare 2 hours.

They have the face to send emails asking if you would recommend paypal to someone.Lol.

Fraudsters who keep items and get refunds they certainly will.

Lol. And how paypal know every move you make on eBay and they know how many bum hairs you have in your eBay account?

Never bought the fact that they are separated.Customers service sound exactly the same. Like talking to a brick wall.

[Mephistophele]

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@Paula2014 wrote:

They have been holding my money last few times as well - for 72 hours which really **bleep** me off.

Will be looking for another paypal-like service to use instead as this is unacceptable!

I think it is their tactic to force people to sign up for their paypal card  - this way you can instantly windraw money - but you'll have to pay a witdrawal fee! Greedy c@nts!

What a shady and unfair way of promoting  new card! **bleep**! Now I will NEVER sign up for it!!

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[SamuraiX]

3 wordsto say.

EU  legislation!

What Paypal are doing is WRONG!

They are greedy, fat people who just do not care!

Legally money that is paid to us, errrrr is ours....

Hope they choke on a big fat turd, all of them!

And, after 72! hrs, yes SEVENTY TWO hours, my money is still NOT available!

[Demistodd]

I'm livid I sold item set up paypal t wait for my money as it was pending 3 days finally got it to withdraw after phoneing them 2times now 72 hours how can they do that

[footy14]

What is the phone number  you used!

[dywalgi]

It would seem that Paypal are profiteering from this 72 hour quarantine of our funds.

Under UK law this is illegal and in business it is highly unethical.

I wonder what this sudden action has to do with David Marcus the president leaving for facebook.

Quite frankly if this is how paypal are going to facilitate business in future then I will no longer use either ebay or paypal.

I will simply wait to see what facebook comes up with next year.

Profiteering is not the way to do business as it profits only one business. It stifles the flow of currency and creates mis trust.

I will not be selling anything on ebay nor buying off ebay until paypal issue a statement that profiteering is now abolished in their business mantra and they wish to be a global ethical bank.

I feel like I have been robbed. Paypal should not have the power to withhold our money - it is ours thus theft is also something that paypal need to acknowledge - paypal have stolen my money for 72 hours as it is not available and does not show in my account.

Sort it out paypal or you will lose loads when facebook come for you.

[funkistuff]

Unfortuanetly I am under the 72 hour pending rule. I am not happy about this either but to put this into context of what is happening behind the scenes. 

The 72 hour rule tends to kick in when the buyer has used the 'Instant bank transfer' option to pay for ebay items etc. Basically PayPal puts the money into your PayPal account straight away.

PayPal then requests the buyers monies via Direct Debit and waits for their DD to clear. All of this is done via the ACH (Some sort of banking clearing house) when the DD clears, then the monies will be released straight away into your (sellers) bank account. It's all an automated batch process, but as I now understand if they paid via credit or debit card instead OR they already had cleared funds in their PayPal account then the withdrawal to your bank account will also be released immediately. 

The security reviews are nothing to do with you as a sellern (unless you have a history of bad selling practices), its just the way which option the buyer pays you with etc. So nothing to worry about, its all down to the payment method used by the buyer. However it is annoying when they use the Instant bank transfer option!

Also, if you requested to withdraw the funds to your bank account, lets say on 20th December at  1.02pm then your funds are on hold for 72 hours, then the hold will be lifted exactly on 23rd December at 1.02pm. Then a further 2 hours for the faster payment process. Can be quicker though. If you waited 3 days before withdrawing the funds then you may experience the funds will be transferred to your bank account straight away.

I hope the above clears things up as I have been reading your comments for the last couple of days and been digging around to how the 72hour pending rule works.