Ridiculously Long Time Before Funds Are Accessible

uoficpa
Contributor
Contributor

Rec'd notice that funds were in account on June 11th, but could not access them until June 14th, however the person that paid told me the money was taken out of their account immediately.  So Pay Pal is making three days interest before releasing funds ?  Multiply that times millions of transactions and Pay Pal is making a ton of money .

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kernowlass
Esteemed Advisor
Esteemed Advisor

@uoficpa

 

When a buyer pays it is NEVER instant, Paypal credit you the funds and then Paypal take the wait for the funds to transfer from the buyers bank account or card.

That is why we get confused buyers on here saying their item is on the way but the funds have not left their bank account yet.

 

Paypal payments are 'held' only for new sellers and sometimes on 'withdrawal' of funds.

However normally the funds hit your paypal balance more or less instantly and withdrawal can be 30 minutes.................however thats paypals credited funds you are withdrawing as the buyers funds are still processing.........so are you going to pay them interest when that happens?


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