Payment pending but money taken out of account 1 week ago

[vcindc]

I have 2 transactions that are "pending" and in both cases the money was taken out of my account over a week ago but has not been credited to the recipient's account.  There is no cancel option. My account and the 2 accounts are all in the US and all email addresses and contact info are current and verified. I contacted PayPal to report the issue on 2 separate occasions and have not received a response/resolution. Please advise if I should file a complaint with the SEC, FTC, BBB, and/or State.

[kernowlass]

@vcindc 

Transfers from bank accounts are never instant as Paypal use electronic transfers ie echeques (cheaper but slower).

Funds normally leave your bank account from a few hours > few days later but they take several working days to clear through to the seller/Paypal as they go via ACH in batches.

Its called instant because normally Paypal credit the seller upfront and then Paypal take the wait for the funds to transfer, this is so you get your item without delay.

However there are times however when its you and the seller / recipient that take the wait for the echeque to clear and here are some of the reasons...

1. Back up card has expired or needs updating.
2. You have had a recent negative balance or failed bank transfer (so paypal are not going to credit the seller in advance in case it happens again).
3. For some high cost riskier payments / transactions.
4. Friends / family payments *funded from a bank account* as this option is free then its you that takes the wait this time.
5. Clearing a negative balance.