Fix for current problem with slow bank withdrawal times

Rik71
Contributor
Contributor

If your PayPal bank withdrawal times have gone from near instantaneous to 2-3 days then switch to making the withdrawals with the PayPal phone app. The problem seems to relate to changes to the website and presumably will be fixed soon but in the meantime the phone app doesn't seem to have the same glitch. Obviously if you have payments in the slow lane this can't help that, it only works for withdrawals you haven't made yet.

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Magie-Financiè
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Contributor

@Rik71 wrote:

If your PayPal bank withdrawal times have gone from near instantaneous to 2-3 days then switch to making the withdrawals with the PayPal phone app. The problem seems to relate to changes to the website and presumably will be fixed soon but in the meantime the phone app doesn't seem to have the same glitch. Obviously if you have payments in the slow lane this can't help that, it only works for withdrawals you haven't made yet.


This is a useful observation, thank you.

 

Yes, their withdrawal interface online has been updated, which has caused transfers to be issued via the slower mechanism. The email sent is the same one used for people who close their PayPal account with a balance of more than £0.01.

 

As for the mobile app, some users, such as those new to PayPal, could still have their withdrawal held for 72 hours, however they will be using the old system which is much more stable and does process on the 72 hour mark. For others who normally have instant withdrawals, this method is useful.

 

Thank you 😉

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morrissey007
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Doesn't work for me, I used to get near instantaneous transfers but now it's taking days to transfer even quite small amounts (~£60) regardless of how I do it (web or android app). Probably just another cynical ploy to hang on to your money
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GJL
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I certainly had no problem with withdrawing money via my Android phone last night - it showed up a;lmost instantaneously in my bank account.

The previous withdrawal (via the laptop) took 2 days!

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laurenisgeeky
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Contributor

well I withdrew via my phone and I'm still waiting so the phone app theory is not the reason.

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morrissey007
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Agreed, I'm using the Android app and its taking days so its not the App/Web difference as for me they have all gotten slow. And I've been with PayPal for years, not a new user and transfers that used to take literally minutes are now taking 4-5 days.  Perhaps PayPal would like to explain?

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