how long does a transfer to paypal take

[Laura1261]

I transferred money from my bank account to my paypal account.  The funds were withdrawn from my bank account on the 10th, however my paypal account says estimated arrival 10/15 at 11:59pm.  Does paypal wait until midnight on the last possible day to post a payment?  if so, what do they do with it after it leaves my bank?

[sharpiemarker]

@Laura1261 

It’s an estimated arrival so it might earlier or later. PayPal uses ACH method. Payments processed through this method are not immediate. While ACH is faster than paper-checks, transferring funds between banks using this method still takes time. The batches in which ACH transactions are processed get ran only three times a day and only on business days. Financial institutions have the ability to choose their processing time. It varies from same-day delivery to two days. However, some financial institutions choose to place your transferred funds on a hold along the way. Basically, this can make ACH settlements take several days.

Remember that you don’t have to add money to pay with PayPal. Your payment method linked to your account can be selected at PayPal Checkout or sending money. PayPal will charge your account.