The obvious reason is to give your bank time to "clear" the funds. This means paypal isn't going to let you use that money until they make sure your bank is going to release those funds. If you can check your account summary online you will probably be able to see the funds coming out but not actually being released. Like the money is spoken for but it's technically still there. It would give you time to cancel payment to paypal if you wanted (i think). Anyways, paypal is a great and secure FREE service, so think it as a way for them to make a few pennies off us. If you can hold money for 3 to 5 days you can make interest off of it. It is not much but when you think of all the money going through paypal it is sufficient 😃
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