Withdraw my money

[Nandroid]

I'm new to PayPal. Not a buyer or seller. My friend lives/works in Saudi Arabia and sent me just over £200. Because I needed access to this money today I was advised to use PayPal. So I setup my account and the transfer was successful from his PayPal to mine. Then when I transferred it to my bank account it's in "pending" status. I'm dissatisfied and feel betrayed by PayPal because before doing so they advertise immediately to 2 hours. After having transferred funds to my bank it says 1-3 days. Now I'm reading about people waiting 3 weeks? This money was to help me out of an emergency. Please advise. When I tried calling them no answer. Got a message asking me to call back later.

[kernowlass · Accepted solution]

@Nandroid

Withdrawals are 2-72 hours in the U.K.
https://www.paypal.com/gb/selfhelp/article/why-is-my-withdrawal-on-hold-faq2990

[Nandroid]

I'm aware of this. However PayPal imply its immediate by can take up to 2 hours. It's only after creating my account and recieving the money did they change their statement to 0-3 days. Anyone in the UK with a bank account knows this but it usually is immediately transferred. I've heard different opinions expressed about this such as it's in there interest to hold onto our money as long as possible in order to accrue interest. I understand that this is just business. But they should be pulled up by TRADING STANDARDS about misleading people.

[kernowlass]

@Nandroid

Nope when you withdraw it tells you 2 hours BUT just at the bottom it tells you that it 'may' be held for review.

Also it normally does that for your first withdrawal.

As for paypal holding funds............

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.

That is why we get confused buyers on here stating their item is on the way but the funds haven't left their bank account yet.

So if you as the seller are withdrawing those funds then its paypals credited funds you are withdrawing and i don't think they get interest on their own money