pending bank transfer

[redbimota]

just how long do I have to wait to have my money???  Pending bank transfer for 4 days now

[kernowlass]

From paypal to your bank account normally up to 72 days.

From your bank account to paypal 5-7 days.

[redbimota]

I assume you are taking the mick...normally 2 hours. I have a business account and am losing a puchase because paypal have stolen my money

[kernowlass]

No and your welcome.

Redemption/withdrawal payments using the Faster Payments Service could (but are not guaranteed to) be credited to your bank account within 2 hours.

As i said can be up to 72 hours.

Not sure why your buyer has to wait though, my items get sent out the instant a buyer has paid ie the money hits my paypal account.

[redbimota]

seriously ..72 days.  

[kernowlass]

Added a bit to my post above and also i have a theory on why it is sometimes 72 hours.>>>>

When you pay a seller it is never instant > paypal credit the seller for you and then start the process of uploading your funds to paypal from your funding source.

So if you as that seller withdraw that payment instantly then its paypals money you are withdrawing and i reckon the hold is just a precaution whilst they wait for the buyers funds to clear through to themselves.

The reason i think this? Normally i withdraw funds about once a month and NEVER had a hold. BUT I had a bigger payment than usual and withdraw that straight away and guess what I had a 72 hour hold....coincidence? maybe but I think not.

[suzysuzy]

I have this same problem.  Before I click on 'transfer' paypal said this could TAKE UP TO 2 HOURS!!  Yes, I agree they are taking the micky big time 😞 not happy

[laredos6969]

Realy,  7 days???

[graham1949]

I cannot believe this!?!?, i really  cannot believe that i can transfer £1 from my bank account  to my papal account within minutes  but if i transfer £25 it takes 5/7 days even though it is showing up in my papal balance.

I have refunded a buyer £20.50 i did this 18/11/2013 soon after the bank transfer because i had no money in my papal, naughty me spent it on Sunday.

This buyer has to wait until the 26/11/2013 to get their refund , how ridiculous is that...........

[kernowlass]

Its never instant > when you pay a seller paypal CREDIT the seller for you and then start the process of uploading your funds from your funding souce...........that takes up to 5 days....ish.

So if as the seller you process a refund then paypal will put it on hold as they are still waiting for the buyers payment to progress through to paypal and then they will credit the refund.

This is because paypal use electronic transfers and not wire transfers (which are instant.)