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Transfer from Bank to PayPal

Contributor

Transfer from Bank to PayPal

They all say the same thing.. Yet none of them really answer the question as to why it take up to 7 days to transfer. The best I can make out is it's not important to PayPal, they make no money on the transfer. If it would make money for them.. Speed would be a priority. My bank account has been verified like all my cards so it makes no sense at all for the delay. All it does is make it so any money being transferred is unavailable for use.. THAT **Bleep**.

3 REPLIES 3
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Esteemed Advisor

Re: Transfer from Bank to PayPal

@TimmerP 

 

It's only quick on the withdraw to card for 1% fee (no expert, but I believe it could be the card issuer or middleman charges fee and so PayPal has to charge fee, google it to find out how it works), as opposed to adding cash from bank account as PayPal uses the ACH method (google it) the slowest and cheapest way.


Kudos & Solved are greatly appreciated. 🙂
Contributor

Re: Transfer from Bank to PayPal

Your answer does not take into consideration.. If I set up my PayPal to use my bank account for purchases, it instantly takes the money out. Yet when I want to, in essence do the same thing, put money in my PayPal account it take a week+-. How does that differ from making a payment. It the same as paying myself with PayPal.
Esteemed Advisor

Re: Transfer from Bank to PayPal

@TimmerP 

 

Transfers from bank accounts are never instant, that is why when you buy something paypal credit the seller upfront for you and paypal take the wait for the funds to transfer to pay them back again, this is so you get your item without delay.

Takes several working days to transfer as Paypal use the slowest (cheapest) transfer option BUT funds normally leave your bank account from a few hours up to a few days later.

However it then has to go via ACH in batches, hence the reason its slow.

 


Advice is voluntarily given.
Kudos / Solution appreciated if I helped you.