Why does it take so long to transfer money from my bank account to PayPal?

[travelbyday]

It shouldn't take 3-5 business days. Who are you to keep my money and not let me use it when I need to?

I transferred money from a bank account to my PayPal account. The money is out of the bank, and PayPal is still "processing" it. I know you have it, PayPal, I'm not stupid. Technology is advanced enough that it would be able to process instantly.

Now I have no access to my money. And it takes BUSINESS days, so this weekend won't count.

This is dumb.

[tommytrader]

Sounds like a circular statement leading to previous responses, they sit on your money

[rogue54]

So if the federal reserves is doing all this then why are you even using these guys? Don't you have your own bank account? I still do not see the fact they we should have to wait x number of days to receive our money. If the federal reserve is causing the problem then go through someone else. Eventually people will tire of this problem and just like western union there will be new companies popping up to do the same job paypal does only quicker.

[rl1856]

ACH funds transfers can be completed overnight.  How long it actually takes depends on the instiitutions involved.  SOME (not all) impose an extra waiting period, such as 3-5 business days to complete the transaction.  The extra time means that institution imposing the delay has an opportunity to earn float, or interest, on the funds while during the waiting period.

I have worked in a bank that uses the ACH system to transfer funds around the country and around the world.  It is only very rare circumstances, such as a request made at 5pm on the day before a bank holiday, that a transfer takes longer than overnight. 

[Kat137]

Hi. I also have the same problem. My account was the same name of my paypal but it reversed to my paypal account. why is that so? even my address was the same but it just reversed with a statement that "there was some technical problems" of some sort? it's just i really needed the money but it only just reversed. Can you help me?

[Jayp24]

Well guess what the federal reserve updated their practices and must take all payments out within one business day please Google it and update your company so they know and fix it so when you do a bank deposit it will be put in the same day I’m not sure why you’re able to pay somebody in the same day from their bank account but you can’t put somebody’s money in the bank account the same day that makes no sense

[nmw]

You should find another way to get your rental payment. This is preposterous. Maybe email money transfer from her bank to yours. Or post dated cheques, or preauthorized debit. Paypal is not a good method for collecting rent. Especially if this is putting you in overdraft while you wait. You could also enforce that the tenant ensure that if they want to use paypal that they have to get the money on time into your hands. Not simply transferred online in time, but they should be sure that the money is fully transferred and into your hands by the 1st of the month.

I use email money transfer. It takes less then half hour for the rent to get to my landlord. And now I have set it up to go montly on the 1st of every month from my chequing account.

[cbecker228]

I am not sure why it takes so long either. I am having the same problems...very frustrating!  I transfered money out of my bank account to PayPal so I could purchase some items I bought thru eBay.  Well, it came out of my bank account immediately, but now I am STILL waiting on PayPal as it continues to "process".  If I knew it would take so long, I would have went another route.  Now I owe a few ppl money and trying to explain it will take a day or so longer (hopefully).  Most ppl were understanding, but one has opened a case against me.

Good luck on getting a straight answer from PayPal  🙂

[coach1]

The ACH/Federal Reserve explanation has me confused. Someone recently did a transfer from their ING account to my checking account.  It was also processed as an ACH transfer, and I had the money in less than 24 hours. They initiated the transfer on a Sunday night at 10pm and it was in my checking on Monday at 7pm, via ACH. I can't believe that some ACH transfers go through a "lengthy federal reserve process" and some do not, why would certain ACH transfers be processed differently. Not likely.

[sgbaczek]

This is the first time I have sold something on ebay. I set up and linked my paypal account to my checking account. It says that the funds were transferred on 9/30, and the status is complete. However the funds are still not in my bank account, as of today, 10/3.  Where did my money go? I'd really appreciate it if anyone knows what happened or who I can contact. Thank you.

[graham1949]

I so sympathise with you...I have a negative paypal balance at the moment had it since 15th October sold an item on eBay that brought the balance down from £46 to £29..

Activated a bank transfer last Friday 15th October the bank transferred it on the 18th Monday it is the 21st today the balance in paypal in still awaiting to be cleared which should be tomorrow 22nd...

In the mean time i can not buy anything on eBay or pay for items that i won 5 days ago unless i send cheque or register a second card...Hilarious is,nt it....