pending

[gemmaedwardsok]

hello ifor some reason paypal is holding onto my money pending,

i get this message

Status:   Pending  

Your withdrawal request is awaiting release for final processing, pending review by PayPal.

so what happens now and when will i get my money back?

[kernowlass · Accepted solution]

Withdrawals take 2-24 hours.

         **********************

I give up my time to help you so a thank you or kudos would be cool.

Marking one of my replies as a solution would be appreciated if I sorted your problem.

[gfinlayson]

If only..... After completely stuffing up my business account due a technical issue that was confirmed by 3 support personnel in different calls and now denying the 'issue' in response to a complaint I made, I had to set up a new account. PayPal has held onto >£600 for 21 days and after 'releasing' the funds the withdrawal is now 'pending'.... This means they'll hold on to it for a further 72 hours. Once it's released, it'll be in my account within 2 hours. Electronic bank transfers take 2 hours tops. Up to 72 hours is bovine manure. Paypal has adopted a widespread policy of hanging onto funds for as long as possible to maximise the interest they can make on your funds. I'm on my last few transactions, then I'm done with PayPal.

[kernowlass]

@gfinlayson

Electronic bank transfers take 2 hours tops.

Not true, WIRE transfers take 2 hours tops  > paypal uses electronic transfer. That is why when you pay from your bank account they CREDIT the seller for you and then paypal take the wait for your funds to play catch up.

http://www.ehow.com/info_8537474_difference-wire-t​ransfer-electronic-transfer.html

ELECTRONIC TRANSFERS......WHICH PAYPAL USES.

Because processing electronic fund transfers involves a third party in the automated clearing house -- which processes the transactions overnight -- the time it takes to complete this type of transfer is generally between one and four business days.

WIRE TRANSFERS.

Since one bank completes a wire transfer by dealing with another bank directly, wire transfers occur faster than electronic fund transfers. Often, banks complete wire transfers in real time, making funds available to a receiver within minutes or hours of a person beginning the transaction.

[gfinlayson]

@kernowlass You've obviously failed to notice that I was talking about withdrawals, not payments! I'm well aware that payments FROM bank accounts take longer - these are collected by Direct Debit and usually take around 3 working days. Withdrawals used to happen almost instantaneously, but PayPal has slowed this process to at least 3 days in my experience - that's my issue here and the non-existent customer service. Promises, promises, yet nothing delivered......

[kernowlass]

@gfinlayson

I was well aware of that, it was an example of how electronic transfer works.

So i explained that that is why paypal CREDIT the seller for you when you PAY someone as it takes about 5 working days to transfer from their bank account.

You were saying that electronic transfer should be instant so i gave the example above of why IT IS NOT.