Money Received not Transferring

[Nightstar2101]

Paypal has not released my money to me, it has been almost a week. How can I get my money released, I am in EXTREME DIRE need of these funds to pay bills. My friend who sent me the money confirmed it has been removed from their account. 

[kernowlass]

@Nightstar2101 

Would help if you said what had happened, you haven't even said which country you are in.

Are the funds showing in your balance but on hold or what?

[Nightstar2101]

Hello, 

I am in the USA. My friend loaned me money last week on Tuesday evening. He said at that time that the money had been taken out of his account. I checked with him today and he confirmed it was taken on Tuesday of last week. The money is still showing as "pending" with an estimated release of today by 12AM. That was over 14 hours ago and still the money hasn't released. This was an emergency loan, all other transactions I've done in the past were instantaneous, this one however seems to be held up. 

[kernowlass]

@Nightstar2101 

Was it a friends/family payment?

If so then if your friend 'funded' the payment via an echeque then it would take a few days for the funds to complete, unlike when you pay a seller using goods/services when paypal 'front' the payment and they wait for the transferring funds.

If its not that then some friends/family payments are reviewed for 24 hours to make sure they are not being used to purchase something negating the seller paying their fees.

Lastly if your friend used the goods/services option by mistake then you may get the new seller hold by mistake. Hard to tell which without more information.

I presume the funds are showing as pending on your paypal account and not the senders??? If its the senders and not showing on your account then post back for different advice.

[Nightstar2101]

Hello, 

It shows currently as echeq. Is there anyway at all to speed this up?? 

[kernowlass]

@Nightstar2101 

Nope because it goes via ACH in batches and paypal can't do anything until they have received the funds normally 5-7 days after sending the funds.

[Nightstar2101]

Thank you for your information. 

I find it difficult to believe that the money was taken from his account within seconds yet it will take them 5-7 (now on day 7 with still no money) to process the transaction. This will be my last usage of the platform before I close my account. It's 2025, time to innovate or get out of the way. Perhaps Venmo will be better. 

[kernowlass]

@Nightstar2101 

Blame that on the time it takes for banks to transfer the funds then. Not paypals fault as they are not sending the funds, they are waiting to receive them and then you are credited.

Echeques are the slowest bank transfers and go via automated clearing in batches. So you have to wait. Unlike when you purchase something when paypal credits your seller upfront and this time paypal takes the wait for the bank transfer. ...and you're welcome !!!