withdrawing money to my account but its ''pending''

[maxifly2012]

i sold some alton towers tickets on gumtree and they paid me via paypal as i posted it to them, how do i get paypal to release the money?

[littlelucy1]

I withdrew money for the first time 3 days ago now and had the 0-72 hours message.

It's now 73 hours and still pending.

I have a bad feeling about this not working out well with xmas coming up and things to buy still.

[kernowlass]

@littlelucy1

Give customer services a call and ask them to release the funds for you manually.

Click on the words "Help / Contact" at the bottom of paypals pages and use the phone option in the blue band at the top. Log in and get the code.
When you get through don't select any options just hang on till you get transfered to an agent OR just say the word 'Agent'".
In the UK its free from any landline phone.

[littlelucy1]

I tried that already.  Closes at 8:30pm GMT.

[kernowlass]

@littlelucy1

Well i did mean when they were actually open in the morning.

[Mikeyj11]

I hear that ebay is going with it’s own payment platform so that will be that for this most disgusting company! I personally hope they rot in Hell!!

[halfhead]

Uhhhh did I just step back in time? Banks are providing instant transfers using PayID in Australia. Why are our withdrawals still taking up to 5 days? I will delete, or suspend my account very soon. PayPal is soon to be obsolete in Australia with PayID. And I pay my bills using crypto currency using bpay, not even an option with paypal... What a joke.

Get with the times, or be a part of history. I don't see why I should support you anymore, after 10+ years using you

[kernowlass]

@halfhead

All banks 'provide' instant transfer BUT Paypal chooses to use the slowest as it is the cheapest for them.

Thats why when you pay they 'credit' the seller for you and Paypal take the wait for the funds to transfer.

And this forum is not Paypal customer services, its a 'user to user' community advice forum.

I have nothing to do with Paypal (thank goodness).

[Dave_b1990]

I agree that this is a big problem.

I too tried to make a withdrawal from my PayPal account to a UK bank account. Just for the record none of those account details had changed.

After making the withdrawal I’m told by email that the withdrawal will take 72 hours.

I phoned PayPal, went through a verification process and confirmed to the agent that the payment was genuine. I’m told the delay is for the prevention of fraud. The agent told me they accepted that the request to make the payment was genuine but there was nothing they could do other than wait for the 72 hours to be up.

This process seems to be unique to PayPal. Whilst other financial service companies may hold payments until they are verified, once they are verified the payments are released.  With PayPal this is not the case. Even after having verified a payment they continue to hold the funds.  So I don’t believe this has anything to do with fraud prevention or at least the fraud prevention is incidental.

In my opinion this is backdoor route that PayPal are using to retain funds on deposit for a longer period of time – effectively false clearing – which earns PayPal more interest.

• I would like to know how many PayPal users are affected by this delay at any one time?
• How much money in total is in a ‘pending’ state at any one time?
• Where are the ‘pending’ funds held on deposit?
• What is the interest turn paid to PayPal on these funds?

I’m extremely doubtful PayPal will answer any of these questions, but for the sake of transparency and treating their customers fairly, it would be good if they did.

[Karinne]

We are in same boat! Today decided to withdraw somemone from PayPal to bank acc... and it stated as Pending! I dont even want to speak to Paypal or contact them! Service is terrible

[kernowlass]

@Karinne

Its nearly always shows pending until your request is processed.

How long is dependent on what country you are in and as you haven't bothered to add it to your profile then can't advise.