How much longer after estimated completion date will my “pending” transaction take to complete?

[nvmd101]

I made a transfer to another account on 10/10. My transaction was estimated to complete on 10/15 and my bank account shows it being withdrawn from my account on 10/11. I messaged someone from PayPal yesterday to ask if this transaction would be complete by the end of the 15th and was told that the money is still pending with my bank, not PayPal. It didn’t appear that way when I checked my bank account so I called my bank to verify and they stated that the money was not pending with them as I was previously told by PayPal. I understand that there was a weekend and a holiday however the app estimated the completion date to be 10/15 and it is not pending with my bank so can someone provide me a date that this transfer should be completed by? Are my funds just being held so that PayPal can collect interest? I don’t get off of work in time to call PayPal before they close, already tried that, and e-mailing them got me an automated response. Thank you

[sharpiemarker · Accepted solution]

@nvmd101 

eChecks are super slow, the recipient will receive an email once payment has been cleared and received into their account. Just because the funds have left your bank does not mean PayPal had received it because the bank does not notify PayPal that the funds have left the bank. I rarely get eChecks but when I did, I recall it being slow and did not appear on the date displayed (maybe anywhere from 2-3 days after displayed date) so the time it takes is estimated.  But I didn't sweat it, if it arrives, I will ship, if not, I put the transaction on ice until it does.

Even if the argument is to collect interest, the funds are going to a PayPal account and PayPal stores PayPal balance funds in a bank account they own anyway so that can't be the reason. Transactions are processed in batches and have to go through multiple bank interchanges and clearing houses.

If you want a bank payment to go faster next time, have both a bank account and a credit card linked at time of payment to send an Instant bank transfer and paypal will front the money ahead to the recipient and then wait for your bank payment to clear.