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The excuse that all these steps need to take place in order to transfer money electronically are invalid. ACH, electronic check, etc. can transfer the same day even between different banks/entities. Holding funds for a few days generates interest which they profit from. These are the same processes for bill pay, etc.
Electronic transfers are 2-3 business days...this is the option that paypal use as its the cheapest for them.
Its also why when you are buying goods from sellers they use 'instant transfer'.
its actually not instant at all. It just means Paypal credit the seller upfront for you and Paypal take the wait for the eleectronic transfer to complete. That is why we get buyers saying why has their seller been paid when the funds have not left their bank accounts yet.
But they don't refund, add funds to your paypal balance upfront or pay upfront if you use the friends/family option, this time you take the wait.