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Issuing a refund from bank account time scale?

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Issuing a refund from bank account time scale?

I have a customer on eBay who paid via Paypal and they are returning the item for their own reasons and I have gladly accepted their return. My question is that the money they paid I have already transferred to my bank account (the ones that's linked to my Paypal) I have the money their waiting to issue the refund once I have the item back. So the money isn't in my Paypal balance. I read that Paypal will use the bank account linked to my account as the source of the refund which is what I want to happen. As putting the money into my Paypal balance will take a week which will hold up the refund. So when I press on the refund button once I have the item and my bank account is used how fast will the refund be? Will it be taken instantly from my account and given back to the buyer or will it take a week to do it that was as well? I ask as I would like their refund to be issued asap.

 

Thanks for all help

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Volunteer Advisor

Re: Issuing a refund from bank account time scale?

@Xofttam 

 

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.
However they don't REFUND in advance so you would take the wait for the funds to transfer to paypal > buyer.
Takes 5-7 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.


Advice is voluntarily given.
Kudos / Solution appreciated if I helped you.
1 REPLY 1
Volunteer Advisor

Re: Issuing a refund from bank account time scale?

@Xofttam 

 

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.
However they don't REFUND in advance so you would take the wait for the funds to transfer to paypal > buyer.
Takes 5-7 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.


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