72 hours from withdrawals .....again!!!
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After carrying out the minimal research it looks as though this practice by Paypal of holding on to peoples money they are trying to withdraw for more than 72 hours has been happening for years. Paypal cs are consistantly using the same excuses, system glitch, system upgrade, security checks blah blah. If these are indeed genuine security checks why take 72 hours, I've worked with some pretty crap software over the years but a system that takes 72 hours to check and complete a request is taking the mick. As they are so coy at giving a realistic answer you can understand why everyone who has had to put up with this 72 hour nonsense believes that it's a scam to gain a few extra pennies in interest on your money
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Paypal payments are never instant, that is why when you buy something paypal credit the seller (you) and paypal take the wait for the funds to transfer to pay them back again, this is so there is no delay in the buyer receiving the item.
That is why we have confused buyers on here saying their item is on the way but the funds have not left their funding source yet.
If you withdraw the funds straight away then Paypal often does delay the withdrawal for a bit, to allow the funds transfering from the buyers funding source to play catch up as if its going to 'fail' then it does so within a few days.
So why would Paypal pay interest on their OWN money that they credited you ahead of time?
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Kudos / Solution appreciated.
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Yes the funds can often 'leave' the buyers funding source from a few hours 'up to' a few days later post payment.
However that does not mean Paypal has the money yet as they use the slowest (cheapest) transfer options to keep down business costs to them, that is why they credit you in advance, so you don't have the long wait for the payment to clear.
So again the credited funds are Paypals and they sometimes slow it down to allow the buyers transfer to complete.
I bought something 2 days ago and this morning had a 'despatch' notice from the seller, I have just gone out of curiosity to my online credit card site and the payment is still 'pending' in there.
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