With all due respect Helmute. I worked on the image based check processing systems that are in use today. I am intimately familiar with ACH. Settlement occurs every weeknight. Back in the day when we were developing this application, physical checks are batched and sent several times a night. Depending on the resources of the banks processing center, high value checks might have even been picked up by helicopter and delivered to the issuing institution. It's ridiculous that Paypal finds it necessary to stoop to these tactics. More often than not, I keep a $100-$200 balance on my paypal account. They have been using my money for years. However, I recently made a purchase I need to pay for, initiated a transfer of funds, verified that the funds cleared my bank 2 days ago, and PP still says it's processing. It really should not take more than 48 hours tops, with 24 hours being the norm. I too will be looking for alternative payment mechanisms.
... View more