money transfers bank to paypal

[amberx1]

hello I transferred some money into my paypal account from my bank account however it says the payment isn’t going to arrive for another 10 days. I need the payment ASAP does anyone know why it’s saying this or how to fix it ?!

[sharpiemarker · Accepted solution]

@amberx1 

It takes time for the funds to move from your bank to PayPal. Since it its free, it uses the slowest, cheapest method possible to do this, even if you see the funds have left your account...that means the bank processed your request but that doesn't mean the funds are already at your PayPal account as the bank does not notify PayPal when that happens. Transfers have to go through bank interchanges and clearing houses and don't fly through the wifi.

Instead you could have selected your linked bank account as payment method with credit card as back up funding source during check out and payment could have gone as instant bank transfer. But once you have initiated the transfer, it can't be canceled. It has to complete and deposited into your PayPal balance.

Now if you still have enough funds in your bank account and feeling bold, you may try to send an instant bank transfer if you have bank account and credit card linked to your PayPal account. Then when your initial transfer arrives in 10 days, you can transfer those funds back to your bank account.

This explains what an Instant Bank Transfer is:

"When you use your bank account to pay, an 'Instant Bank Transfer' becomes your funding source. Despite this name, the money actually takes 5-7 working days to clear from your bank. The reason the payment to your seller completes instantly is because PayPal fund this on your behalf and wait for your bank transaction to clear."