I just authored a diatribe on the subject of the slow money transfers, hit the send button, and then was informed the session had expired! Laughable customer service! Yep, instant transfer to Paypal, but days for the money to come back to your bank. And it does not "depend on your bank!" It depends on Paypal and how anxious it is to part with MY MONEY! Come on...most consumers are not that naive! I requested a withdrawal on the morning of 12/19, was informed the withdrawal was in process and would be deposited in the bank by December 26. The reality is, regardless of how you justify, rationalize, or explain it, this is 8 days to accomplish the transfer. Using the "business days" excuse is bull! Clearly Paypal has no problem locking up instant transfers from my checking account on weekends! I work with several banks and brokerage firms and not a single one takes more than a day to accomplish a money transfer. Even the credit card companies can do it! I'd be interested to hear how the regulators might view this process. Prior to having the transaction done via Paypal, I had the option of a check through the US Mail. For me any mailed item generally is received in 2 to 3 days from anywhere in the country. Clearly the mail...can you believe it...the US Postal Service in this case is a far better option than Paypal. The check would have arrived on or before 12/23. Clearly, for whatever reason (I dare anyone to provide any palatable rationale), Paypal is in no hurry to give us OUR MONEY. I have two near-term missions....(1) given options, use anything other than Paypal and (2) payoff my Bill Me Later balance and close the account. Paypal is ripping us off!
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