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I bought an item on eBay and paid for it then the seller advised me it was faulty so they have refunded me. This shows in .y PayPal history but not in my balance or in my bank account. How long does it take to clear?
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I have been waiting since 27/8/2013 .I beleive it takes between 5 and 9 working days .Your bank has to send money to paypal for the transaction which is normaly sraight away ,then when it is cancelled paypal have to wait for the buyers money to be sent from their bank to them which can take a few days depending on which bank and on what day of the week the cancellation has been made. Its a bit of a pain when you have money tied up in this way.I for one hope they can reduce this time in the near future.
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Its amazing that the banks involved in either direction are near instant. But PayPal still makes you wait as long as they possibly can. You know why...they earn interest on your money while it is sitting in their account. Not much. But enought to make it worthwhile for them to annoy their customers. Its wrong really and the FSA or some one should look into this. But hey if your happy with the PayPal explaination then its OK.
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Totally agree! I am waiting for a £300 refund that was paid instantly. I can go to a ATM and take money out instantly... there is no need for these delays in transactions with PayPal. They obviously bottle neck transactions in delays and hoard peoples money in an account to claim interest on. When you consider the amunt of tansactions PayPal deals with this must amount to a large sum of money .
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