Why So Long??

[JimiMac]

Why does it take so long between the time the funds are removed from my bank account, until they are added to my Paypal balance??

[ojibweguy]

i'm asking myself this same exact question, why does it take so long? i can do online interac and the transaction is completed instantly, why does it take SOOOO long to make this type of transaction? is anyone trying to remedy this ridiculous amount of time?  this is bad for paypal-ecommerce!

[JimiMac]

I've had it with Paypal. So far, I haven't found an advantage, or any convenience by using this snail speed service. **bleep** it.

[goatboy9099]

I'm not saying this is why... but this is probably something you will find taking place eventually.  It is even taught in specialized business management courses now. Something to think on  I'll wager.

Imagine if I had 50 thousand customers who all paid for something .. I sat on the money.. (say 100 000 dollars)

I complete the transactions or let the money go thru after I have collected a week or two worth of interest on that $100,000.

Keep everything cycleing so that you always have a substantial amount in the bank / invested.. to collect a clear months worth of interest and you just made a BUNDLE!!..  off of  your customers money.

[68biscayne]

I know how you feel. You see it taken from your account and a few days later you are still waiting for it to show up. Seems to me that interact should be instant, the same as when you use it at a store. Imagine buying your supper with your debit card, then having to wait 6 days for them to confirm they have the money before giving it to you.....

[fnorman]

When I spend a little more more than the balance in my PayPal, PayPal withdraws from my bank account, e.g. as follows:

14 Sep 2011 - Paypal initiated add funds from bank account

16 Sep 2011- funds withdrawn from bank account

Elapsed Time = 2 days

When I move funds from my bank account into PayPal before spending it, it is more like the following, e.g. 

1 Sep 2011 - requested PayPal to add funds from bank account

6 Sep 2011 - funds withdrawn from bank account

13 Sep 2011 - funds available in PayPal account

Elapsed Time = 12 days

What on earth is happening with the funds between 6 September when they leave the bank and 13 September when they become available in PayPal? Who is benefitting from holding all the transfers of money subject to the extra weeks delay? I have not been able to find an explanation from PayPal and therefore have no confidence that they are doing the right thing.

[ghosking]

Better Question, WHY HAS NOONE ANSWERED THE ORIGINAL QUESTION?  How do you get answers from PayPal?   I really would like to know why there is a week where my money stays in Paypals's account, prior to it being sent on to the individual that the money was intended for?  Oh oh, did I just answer my own question? Is Paypal actually using MY MONEY for gaining interest? hmmmm  ANSWERS PLEASE...

[kud0s]

What the **bleep** seriously.  I had paid for an item and used my bank as primary payment method.  Everything went fine and right away the seller contacted me telling me there was a flag with paypall and not to release my product.  So I called paypal to see what the problem was.  They told me my information on the account was in conflict to my billing address.  So I fixed all that but could never get it to accept my address.  So I had the seller cancel my payment (refund).  I was on the phone with paypal at the time.  The representative assured me that no monies would be transacted because it had not gone through.  So I sent the seller his money through EMT.  All good? Nope the next day paypal took the money out of my bank anyhow.  So now I have double payed for the item.  Called paypal again.  They said this time that it was automatic.  I asked where the money in my account was and they said it can take 3-7 business days to go into my account.  It is fraud.  You have CASH and your going to hold it.  Money has been cleared directly through a bank.  There is no way for me to dispute it with the bank.  It is robbery that they can not allow you access to your money when you pay with cash and get a refund. I can understant disputes with credit cards taking time to clear etc.  BUT THIS IS A DEBIT TRANSACTION = CASH.  They are trying to protect themselves from fraud, I get it.  So they are protecting themselves from the bank giving them counterfit cash?  I have no clue.  I called my bank and they cant do anything because it is just like a purchase when coming out of your bank.  

So **bleep**ing angry.  In fact this is by far the worst customer service experience I have had in my life.  No gas, No food, long weekend and no cash all because paypal are **bleep**ing idiots.  **bleep** THIS PLACE NEVER AGAIN WITH PAYPAL OR EBAY.