Any changes to how withdrawals from Paypal to bank account function on 1st February 2018?
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Hi- I used to withdraw funds from my (business) Paypal account to my (business) bank account with the acknowledgement confirming the "withdrawal request" and the time frame of two hours (always had the money within minutes, lucky me!). This, right up to 27th of January 2018.
Today (the 1st of February 2018) things have changed. It still worked the same at my end but the acknowledgement came quicker and looks and is worded very differently. It is now Paypal doing a "transferal", not me doing a "withdrawal" and- gone is the mention of two hours, and it is now up to six days I need to wait. And, sure enough, the money is not in my (same business) bank account as before.
I telephoned (as one does) and have been assured that NOTHING but the terminology ("to make the website easier to use", allegedly) has changed.
But I remain unconvinced as the fact remains- the money is MIA (it is not at Paypal, not "pending" or anything, and it is not showing up at the account end either).
Question- anyone else have this experience?
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Hey.
Sorry that this is also happening to you, but also to thank you for responding.
Right- I telephoned twice more and emailed (had to make a "formal complaint" to get it targeted enough) twice too.
The second time I telephoned I was told that it was above the person's "pay-grade", as in- they had had NO information of a change but that it depends on the bank. Basically, the fact that I used to get payments transferred into my bank account within minutes not days until the 1st of February when the wording also changed, was lost on them. And all they could do was just to parrot their responses, that the money had been processed as usual (which was untrue as even how it was worded at their end had changed on the interface and took 6 times as long than normal to even show as allegedly "completed"), and get quite irate at my repeated explanations. But his chanting that the transaction was showing as "completed" was perfectly acceptable?!
Then I received the single and only reply to my "formal complaints" which repeated what I was told- that payments into banks take up to- well, you know the rest. No acknowledgement of the fact that I have been doing this long enough to know/see a change where there is one. What it did say, however, was that things sometimes revert to the "old process", without explanation of that that means.
The third time I telephoned I was told that nothing had changed, that it was almost certainly a one off due to their systems being overloaded on THAT occasion. And that there is an old system which these transactions sometimes have to use, when the newer system becomes overloaded. I explained that it was this I had asked for confirmation of because a) I know that things were different on the 1st of February 2018 from what they had been every SINGLE other time before then, and b) if there had been a change I'd be asking customers to pay cash for their four figure purchases as it is not possible to have to wait 5 or so days for those funds to be available.
I have not tested it since. Cannot afford to.
My thinking is that Paypal is trying to make it so that customers do NOT transfer the funds away from Paypal as quickly as I was doing, and also use Paypal as the payment source. I cannot do that, and suspect that I will just stop using Paypal altogether.
I WILL update when/if I hear back from my second "formal complaint", but bitter experience with Paypal tells me that they wont respond. Odd, that... Wanting to be seen as a professional solution and yet not being professional about it. Money matters are incredible sensitive, and I would expect the customer service to be on point in their regard.
I will also update when I next try using Paypal to take payment (with a small amount, of course! Cannot, as I wrote, risk it otherwise).
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Hi- thank you for responding and sorry that this happened to you.
I have NOT had it happen since I wrote, and the last update is really all I can add- this appears to be an occasional issue whereby the older system is roped in to cope with the high demand for the service. I can understand it, and it makes WAY more sense than the silly explanation you got about "batches".
I am pleased to report, though, that I DO still/again get every SINGLE payment within the 2 hours advertised, even where I do not see the 2 hour notice on the VERY rare occasion I see it (in fact- saw it today and just checked to make sure I knew what I was claiming).
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I am the original poster in her personal account. I didn't do anything, no.
It was literally just that one time and the explanation I got from Paypal was that they have an old system they sometimes have to use when their new system gets overloaded. It made sense.
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I had money sent by a relative 4 days ago. They are holding all of it and telling me it could be the middle of next week before funds are available. They claim it takes that ling to process and the federal reserve is holding it. I am calling The FTC and sent an email to several govt agencies. This is ridiculous as its not an extreme sum of money only a few hundred. Similar but nit exactly the same. Aggravating
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