Initiated a transfer to send money from my wife and I’s joint account to her account via PayPal. Once I submitted the transfer it said the transfer was done via echeck and will take up to 3-5 business days. Nowhere before submitting was there any disclosure that this may happen and I have never experienced this previously. Also, within five hours from submission the clearing estimate was moved back 4 days. It is extremely frustrating that this occurred and there is no option to cancel the transaction. The customer representative I called said I needed to call the bank and they should be able to stop it as it was out of PayPal’s control, yet when I called my bank they cannot even see the transaction yet. My only option was to pay my bank to have a stop payment made. This process is extremely flawed. There should be an alert this may occur prior to submitting. Also, there was no defined criteria for this occurring that the customer representative could give me. I asked if it’s a dollar threshold or if the acitivty looks unusual and received no helpful reponse. If it’s truly random that makes this process even worse. If I knew it would take 3-5 business days I would just simply write a check to the other account as it would occur in the same time frame and there is no additional benefit of using PayPal. This experience as well as my overall customer service experience from the incident (the wait time estimate when I called was between 1 hour 18 minutes and 1 hour 54 minutes) has been unacceptable. If PayPal needs to verify it isn’t fraudulent activity why not have a notification sent to the user to confirm the activity. If you need to verify funds, why can there not be a quicker verification with the bank? 3-5 business day wait completely takes away any benefit of using PayPal and to subject your users to this delay randomly makes no sense. If someone can give me a better explanation to the process than I’ve received thus far, I would greatly appreciate it.
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