Temporary Hold released??

[Nettie34]

How long does it take for funds to be placed in the account after the Tempory Hold has been released?

[PayPal_Olivia]

Hi hank1313,

Good questions!

When the bank marks the funds in your account, there are still other steps. The bank still has to send their response through the clearing house for review and oversight. Once the funds have cleared out of the hands of the bank, there are still steps before they have been approved through the ACH process and actually reached PayPal. As described in that post I linked to, it's done in batches to reduce cost. This does make the process slower, but it is the reason why we can offer movement of funds as inexpensively as we do, and can offer adding and withdrawal of funds for free.

I understand what you mean about the "good faith" aspect of Instant Transfers. There are good reasons why it doesn't translate to the availability of refunded money until it comes through from the bank, even in the case of a customer in perfectly good standing for years. One of those reasons has to do with the credit card being used as backup funding. In the initial agreement of the transaction, when you agree to the use of the card for backup funding, it's specifically for the purpose of paying that seller. If the funds are no longer going to that seller, any funds taken from the card would become a cash advance, and be subject to different classification, terms, and fees.

I hope this helps clarify a little more.

Olivia

[Nettie34]

Hello The posting from the agent trying to answer my question gave me a link. I looked at the link and it still doesn't anser my question... I had a temporary hold on my account as muy original transaction was cancelled and I realize this is the proceess it is supposed to go through. But the question I have is how long after its removed (which mine was on 2/11/11) will the funds be put back into my account. I have not \yet seen them.... Thank you for your time. 

[PayPal_Olivia]

Hi Nettie34,

It takes 3-5 business days for your funds to clear from your bank. Once the funds have cleared, they are available if they have been refunded. If they did not clear from your bank yet, they would remain held. If the bank did not fund the payment for any reason, then the funds would not have reached PayPal in the first place, and thus would not be given to you for use.

If the original payment was on the 11th, the first business day would be the 14th. You posted around midnight on the eve of the 5th business day. I'm guessing the refund was released in your account later that day. If it was not, check to make sure that your bank actually funded it and did not return a response of insufficient funds or closed account.

I hope this helps!

Olivia

[hank1313]

Everybody cleared up here?

[hank1313]

Hello?