Quick Question About Cancelling Bank Transfers

[benjaminL]

Specifically, how can you cancel a pending tranfer from a verified bank account to your PayPal account.

There doesn't appear to be any option related to this issue, and you can call me a fool if one exists.

[skier]

Unfortunately you cannot cancel a transfer as there are no features or options available.  This is the design of the system.

Regards,

skier

[cmpcannon]

Well, that pretty much stinks.  I'm pretty new to PayPal and thought when I transferred money from my bank account it would happen pretty much immediately.  I am needing to pay for something right now (like today!) and the funds will not be available until the 26th (it says).  It's the 20th right now!!  So I then see there is a way to send money immediately but if I send it immediately I will pay double (or at least have paid double until they can finally refund the money from Paypal back to my bank account. 

I really think they should have a way to change a pending bank transaction to an immediate payment!!  It's almost absurd that a system like this would not have that option. 

[skier]

You should also be blaming the banking system as they are the other half of the process.

For example, if you transfer funds from your PayPal Account to your bank account, the process takes a few business days.   Not defending PayPal on this topic, but everyone blames PayPal first for whatever the issue is.

Here's how the withdraw process works:

When you transfer funds from your PayPal Account to your bank account, you should receive a "completed" message in your Account Transaction History. The "completed" message means that PayPal has completed their end of the deal by transferring the funds to your bank. The next step is up to your bank as to how long it takes for it to show up in your account. Normally the time frame for US Banks is 4 "business days". Note some US Banks can take longer and "business days" do not include weekends or holidays. As for other countries, Canadian banks can take up to eight business days. UK banks can take up to nine working days and Australian banks can take seven to eight working days.

Regards,

skier

[yyci_inc]

When the transaction status is still "pending", as in: a transaction was just created to transfer funds FROM paypal TO your bank account, you should be able to cancel the transaction. There is no where, that I can see, that I can stop this transaction from occurring...it has nothing to do with my bank. I WANT THE FUNDS TO STAY IN PAYPAL....Paypal should be accommodating ... it is an "unfriendly" site to use unless you are attempting to use the service solely for the benefit of an Ebay company or partner. And the fee to receive cash, along with final value fees, insertion fees...geez, one should probably just give their stuff to Good Will. The fees incurred force the seller to up the shipping costs a few dollars just to pay all the fees. Exhausts me!