Savings account payments

[Sascha08]

Hi! I recently linked my savings account to my PayPal and have verdure’s through my app on set up! I have been making transactions which are showing on my PayPal activity but not yet on my savings account statement on my internet banking. I didn’t link a card as I don’t have one. I’m worried now the companies aren’t reviving the payment from me? Help!

[kernowlass]

@Sascha08 

Transfers from bank accounts are never instant, that is why when you buy something paypal credit the seller upfront for you and paypal take the wait for the funds to transfer to pay them back again, this is so you get your item without delay.

Takes 5-7 working days to transfer as Paypal use the slowest (cheapest) transfer option BUT funds normally leave your bank account from a few hours up to a few days later.

You never need funds in your Paypal account balance as a buyer. When you purchase an item then Paypal credit the seller for you, this is so there is no delay in the despatch of your item. Paypal will then take the wait for the funds to automatically transfer to reimburse them from your linked funding source.
However they only take that 'risk'  of crediting the seller upfront if you pay by...

1. Bank transfer but have a back up card linked to your account as well.
2. Debit or credit card.
If you have option 1 but have no back up card linked then your payment may go as an echeque and you and the seller will have to await clearance.

[Sascha08]

So if I have accepted a direct debit mandate on that account it may just take a few days for it to appear? I do have a debit card linked to my PayPal aswell as the savings account tho. I’ve only been using since the 28/2 and only noticed today it had selected the savings account as the main account not my debit card.