Why is it faster to send money to others?

chonkycheesegra
Contributor
Contributor
When I send money to others from my bank through PayPal, the money gets to thier account in seconds, but when I try to send money from my back into my own account the transfer takes days
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2 REPLIES 2

kernowlass
Esteemed Advisor
Esteemed Advisor

@chonkycheesegra 

 

Transfers from bank accounts are never instant, that is why when you buy something paypal credit the seller upfront for you and paypal take the wait for the funds to transfer to pay them back again, this is so you get your item without delay.

Takes 5-7 working days to transfer as Paypal use the slowest (cheapest) transfer option BUT funds normally leave your bank account from a few hours up to a few days later.



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chonkycheesegra
Contributor
Contributor

I get that money doesn't transfer immediately from my bank. When I transfer to my friend that money is still in my bank, but PayPal doesn't wait for me to get charged and then send the money, they send the money immediately. I find it weird that they let me send money immediately to friends, but wait for my bank to get charged when I want to send it to myself. why is the cheapest, fastest way to get money from my bank into my PayPal is to send it to someone else and then have them send it back to me?

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