Paypal payment withdrawal to Bank Account

I had withdrawn some money from Paypal on 16 May 2008 to my SBI Bank Account. On 19th May, the status in the Paypal account showed the transaction is completed but i have still not received money in my Bank Account.
When i asked the Bank Manager if he accepted the payment from Paypal, he was like we don't do anything. If you receive payment, it will directly come to your account, we don't have to accept it or deny it.

What do you guys think, Should i wait for couple of days more or just contact paypal.

 

Typically the money would get to your account 5 to 7 days after it shows 'completed' in your paypal account provided that all your information you submitted are accurate. If your bank refused to accept the payment because of some errors in the details, you will get the money back to your paypal account minus fees.

Well, typically when Paypal shows the transaction as complete, it means that paypal sends the request to your bank to pay you. This would be out of paypal's hands. If you contact them, they would just tell you to wait and if the details are wrong, it gets back to your account.

 

Yup all the information is accurate because i have withdrawn to the same bank before.

 

Paypal simply sucks, transfer times are slow.....

And currently they are holding over $1000 dollars of my money whilst they 'investigate' to make me 'safer', even though the buyer is happy & has the product, i don't feel that paypal witholding my money makes me 'safer' just annoyed

 

HI azharcs,

don't worry. I too in the same problem. I have with drawn on 16th to y HDFC bank I didnot get the fund till now. It seems there is some holidays in between I have seen in paypal calendar.(monday). May be we will get the fund soon. If you get it please reply to this thread. I will do the same.

 

Maybe you should try going with a more trust worthly bank. Bank of America and Washinton Mutal are among the most respected banks out there, so it may be wise to chose someone who has a proven track record for delivering like they are suppose to.

Just my thoughts.

 

Hello!

Well, I have the same problem but the difference is that I have withdrawn from ICICI Bank instead of SBI and that too on 15th May.

Do you think it is early enough to press the panic button ? Today is the 7th day that is why I am worried. If I need to take steps, what should I be doing to see where my money is?

Thanks

Regards

Jeet

 

Well You live in India and I hope you will understand what is the difference between the both banks ICICI vs SBI. That makes the difference in the service by them.

 

Thanks guys for your help. I will wait for some more days. Lot of people are facing the same problem, i think it is a legitimate delay.

 

i must say go with HDFC bank. i always get fund with in 3 days. i also have SBI it always take 5 days minimum. So don't worry wait for few more days.

 

Go with HDFC or Standard Chartered Bank, I am getting funds in less that 48 hours in those accounts.ICICI and SBI take more time.

 

SBI is one of the most trusted and largest bank in India.

 

Yes..normally it will take only three days for me. This time it takes more days.

 

I am using HDFC. I agree with you. But, this time it takes longer than usual.

 

Its not about bank. It the Day of transfer and processing time.

When paypal shows 'completed' means paypal is 'ok' with your transaction and in 1-3 days the payment will reflect in your account.

Working days need to be continuous 3-4 days. So if you paypal to bank on Monday, expect completed by Wednesday and fund in your account by Friday if no holiday in between.

If you paypal to bank on Saturday, expect paypal to act on it with Bank by Tuesday and then completed by Friday and then again bank holiday on Sat or Sun (depending on the bank) and then payment shows by Tuesday or Wednesday.

In short your processing day and time needs to be clear and no holidays in between so as to your transaction to flow smoothly.

Try filing the request on Saturday and then see how many hours/days it takes.

 

Will try this time,but in last transaction, i requested on Sunday and got my funds deposited in my account by tuesday evening.

 

Me also having HDFC and i get the payment in 3-4 days
I have never faced any problem yet with PP and HDFC

 

22nd May,u will get by today evening or max by tomorrow morning.