Transfer to closed bank account - money gone?

[PaLe22]

Hello,

I have transferred money from Paypal to an old bank account - only after I transferred the money, I realized that the bank account was an old one I had closed.

Talk to Paypal - talk to bank - talk to Paypal - talk to bank... bank says they haven't received any money, Paypal says it must have gone in as it hasn't bounced back.

I had to explain this several times to Paypal - every time again. It is a real nightmare of a situation and I don't know what to do anymore!? Any ideas anyone???

I am super frustrated about it all!

Thanks!

[sharpiemarker]

@PaLe22 

When you transfer money to bank, this can take days to begin with, up to 10 days for your bank to even notify PayPal about a problem or the funds to bounce back. If in 14 days you aren’t notified, then contact PayPal to file a trace on the transfer. Did you ask your bank what happens if a transfer comes in and the bank account is closed? Is it bounced back to PayPal or do they reopen the account?

[PaLe22]

I have done that already - the money was already transferred end of June - since then I am chasing Paypal and my bank - I trust my bank as it is a small local community minded bank... Paypal states they have traced and bank should have it. But I know for sure the bank account is closed - I closed it myself!

Don't know what to do anymore!?

Thanks!