pending

[jkp]

do i really have to wait 20 days for payment

[geeksquad21]

your darn right just another way for paypal to exort its customers and collect interest on those pending monies.They say its for the buyers but if that were true then they need to pay interest on all those monies that they put a hold on. Just hang tight there is a class action lawsuit in the works by some attorneys in california.

[Steph09]

I recently signed up for a paypal account and I am still in the process, I am waiting for the bank to change my address to put my current address here to match the address on my bank card! Well I went to the bank today and I have 11 pending amount of 1.00 each from paypal! What could these amounts be for and why are they pending

[bearbon]

PayPal seems to not understand how an electronic check (e-check) is processed. Once a bidder pays for an item with an e-check it should take no more than one day for the funds transfer from their bank. Even if it took another day for PayPal to react it would still be reasonable. To put the transaction on hold for "several business days" to confirm the bank transfer makes it look like PayPal isn't keeping up with the latest improvements in the banking industry today. At my local bank, if I deposit personal checks from customers before 5pm the funds are available the next morning!

[sandypurins]

bearbon wrote... "To put the transaction on hold for "several business days" to confirm the bank transfer makes it look like PayPal isn't keeping up with the latest improvements in the banking industry today."

PayPal echecks are ACH (Automated Clearing House) transactions. Use your favourite search engine to learn about ACH transactions and how long they take to process.

bearbon wrote... "At my local bank, if I deposit personal checks from customers before 5pm the funds are available the next morning!"

Yes, but... how long does it take for your bank to notify the other party that the funds have been received by you, and... is there any danger that those "available" funds will bounce?

[bluetux]

I cannot believe what i am reading??   Are you serious.  These ACH funds are available immediatley or they would not post!@  Do your homework people.  If the account or credit card has available funds it is gone the second the offsetting debit hits@!!!  That is banking 101 

[jamesbiz]

They claim that it's not on their end. That it takes time for the money to go to the federal reserve from the bank, and then to paypal. And that paypal isn't a real bank at all.

[-itall]

In spite of the fact that I have agreed to 7 day $ back, this pending funds thing appears. So it seems that it is to protect Pay Pal- okay. It is very inconvienient but it seems like there is a reason thanks to some crooked dealers, okay. My concern is that if this buyer decides to return my item while I have pending funds, what happens if he is negligent in shipping and I don't receive it back in the same condition it was in when I sent it? I can't force a person to buy insurance, and at that point Pay Pal would have heard a negative reply from the buyer, do they keep the funds on hold untill I receive the item back and am satisfied?  Does the seller get the same protection?

[rdorris11]

I was just wondering the same thing.  Paypal has had my money for 15 days!!!  Are they going to pay me interest?  I have recommended them to several other people before ...but not again!

[sandypurins]

rdorris11 asked... "Are they going to pay me interest?"

If you're enrolled in PayPal's Money Market Fund, you will earn interest on held payments.