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Why Does PayPal Take So Long Putting Money Into Bank Accounts?

Discussion in 'PayPal' started by Dean_Saliba, Apr 21, 2008.

  1. #1
    When I pay for something using PayPal it will take money from my bank account within seconds.

    But when I have money in my PayPal account and want to put it into my bank account it takes at least 5 working days.

    Why does it take that long for one thing but only seconds for ther other?
    Dean_Saliba, Apr 21, 2008 IP
  2. terminator69

    terminator69 Notable Member

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    #2
    I've also wondered this. :rolleyes:
    terminator69, Apr 21, 2008 IP
  3. goforhunt

    goforhunt Banned

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    #3
    Thats what is called business mate, interest of extra time they keep your money.
    They can say easily, we verify every transaction and take our time for your secirity.
    goforhunt, Apr 21, 2008 IP
  4. sheilasultani

    sheilasultani Peon

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    #4
    yep- they are still making money off your money - gotta suck every cent they can -
    sheilasultani, Apr 21, 2008 IP
  5. eddy2099

    eddy2099 Peon

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    #5
    After Paypal approves the money transfer, it would depend on your local banking system to get the transaction posted.

    In my case, if I do get a foreign wire transfer, it will take 3 working days before I see it posted. If I posted from one bank account to another, it would take 4 days before I see my money.

    The thing I am trying to say is that the banking system is not really instantaneous especially if you are not transferring funds from the same bank.
    eddy2099, Apr 21, 2008 IP
  6. makelanguages

    makelanguages Peon

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    #6
    i think its a reasonable time, 2-3 days is not that bad. Its almost like depositing a check in a bank account which takes the same amount of time
    makelanguages, Apr 21, 2008 IP
  7. google.com

    google.com Banned

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    #7
    because they chck he transaction where the money came from is legit or not then verify it for transacton not the case with spending
    google.com, Apr 21, 2008 IP
  8. mcjp6

    mcjp6 Active Member

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    #8
    sure, there are bank processing times involved, but bottom line is the longer they hold your money the more money they make. Plain and simple.
    mcjp6, Apr 21, 2008 IP
  9. eddy2099

    eddy2099 Peon

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    #9
    Well, the process is merely a few days and you have all rights to withdraw your money any time. If you keep it in your paypal account then you allow them to earn from your account.

    There is nothing wrong is withdrawing funds on the same day it reaches your account. Then it only remains in Paypal's account for about a day or two and after that it goes into the banking system.
    eddy2099, Apr 21, 2008 IP
  10. iTrump

    iTrump Peon

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    #10
    Paypal withdraws really aren't much different than a merchant account in terms of transit times. Merchant accounts take a minimum of 2 business days before you see the money arrive in your bank account.

    My paypal withdraws always arrive in no more than 3 business days, but average 2. Part of the transfer "speed" is dependent on your banking institution as well.

    BTW - I'm speaking in terms of US bank to US bank...
    iTrump, Apr 21, 2008 IP
  11. Rohit patel

    Rohit patel Prominent Member

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    #11
    Well in India PayPal using NEFT service to deposite money which takes 24 hours to transfer funds across the India, than it takes time due to Banking process and clearance. So we get money from 2 days to 5 days depends on banks.
    Rohit patel, Apr 22, 2008 IP
  12. aarthi

    aarthi Peon

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    #12
    i am using paypal for the first time, and i withdrew money to my bankaccount ,
    and paypal says the status -> "completed - but wait for 7 days to be completed"
    what does that mean?
    And i do not see my money in my bank Ac.
    can some one help me with this?
    aarthi, Jun 23, 2009 IP
  13. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #13
    You will get funds in your bank account within 2-3 working days max once you get status 'Completed'.

    DON.
    deluxdon, Jun 23, 2009 IP
  14. TheFounding

    TheFounding Banned

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    #14
    Agreed. Just relax, it'll all transfer eventually.
    TheFounding, Jun 23, 2009 IP
  15. aarthi

    aarthi Peon

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    #15
    Thanks guys.. :) hope it gets done soon :p!!
    aarthi, Jun 23, 2009 IP
  16. thewebhostingdir

    thewebhostingdir Well-Known Member

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    #16
    Yes, once the status is completed, your money should be in your account within 3-4 business days. Incase if it does not reach then call them immediately.
    thewebhostingdir, Jun 23, 2009 IP
  17. narci

    narci Peon

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    #17
    its because when sending money its already automated. But when transferring to bank account. I think not.
    narci, Jun 23, 2009 IP
  18. tl23v0l241

    tl23v0l241 Peon

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    #18
    try xoom.com , i use this site to get my money instantly.

    tried and tested and works like magic, but before doing this you much consider the fee they'll charge you. If you need your money badly, this site might the answer for you.
    tl23v0l241, Jun 23, 2009 IP
  19. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #19
    But there is no need to pay fee to xoom when same thing we can do with paypal without paying any fee :rolleyes: Both takes almost same time.

    DON.
    deluxdon, Jun 23, 2009 IP
  20. rick_tscs

    rick_tscs Peon

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    #20
    1-2 Business days seems reasonable, but Paypal says it's 5 business days. Is that even legal? On today's fast networks I don't see why it should take that long.
    rick_tscs, Aug 3, 2009 IP