3-5 business days for payment to clear

moonia99
Community Member

What a load of rubbish PayPal!

I am waiting for a payment to clear and it has now been 9 days,contacted PayPal yesterday and they assured me that the payment was going to clear yesterday,but when I check my account this morning it still hasn't cleared.

The payment is by way of an echeque from my bank account to my paypal account and is a large amount but I did a smaller payment the same way on the same day and it cleared within 1 day so does anyone have an answer as too why this payment is taking so long as both the bank and paypal are putting the blame on each other?

Message 1 of 10
Latest reply
2 ACCEPTED SOLUTIONS

Accepted Solutions

3-5 business days for payment to clear

moonia99
Community Member

I will just answer my own question and say the reason is so paypal can profit from it, lol.

View solution in original post

Message 2 of 10
Latest reply

3-5 business days for payment to clear

I'd blame the banks well and truly before PayPal.

 

Need cash in hand? Hit withdraw inside PayPal and expect to wait for up to a week before it appears in your account while the banks "process" the money (via current-generation computers running 24/7/365, no less), while taking every single minute of the day off whenever possible (the computers too, apparently). Admittedly, it usually "only" takes 2-3 days to see the money (and less than a millionth of a second for the computers to process).

 

Want to add cash to PayPal from your bank account? Expect to wait nearly a week before that appears too - yet if you buy something with $0 in PayPal, of course the amount is debited immediately, even if it makes the account overdrawn! Yet if you try to take money out of an ATM or via EFTPOS with nothing in the bank, you will be greeted with a nice big Insufficient Funds or DECLINED message and receive $0 for your effort (and if you were in a queue at the supermarket, expect some nice vews from the people behind you while they wait that extra minute).

 

Bonus points for the topic popping up before one of the longest "weekends" of the year, where it will take even longer to get money out. I won't forget to mention Ausfailure Post either, which won't be open until the Wednesday following Easter (the lazy See-You-In-Tease).

View solution in original post

Message 4 of 10
Latest reply
9 REPLIES 9

3-5 business days for payment to clear

moonia99
Community Member

I will just answer my own question and say the reason is so paypal can profit from it, lol.

Message 2 of 10
Latest reply

3-5 business days for payment to clear

WOW just to update this scenario,just spoke to paypal and they told me that they have never encountered this situation before and don't have an answer as to why this has happened and they will need 48hrs to investigate it,well I told them fine I will give you that time but from then on I will be contacting the FOS so the ball is in paypals court at the moment.

Message 3 of 10
Latest reply

3-5 business days for payment to clear

I'd blame the banks well and truly before PayPal.

 

Need cash in hand? Hit withdraw inside PayPal and expect to wait for up to a week before it appears in your account while the banks "process" the money (via current-generation computers running 24/7/365, no less), while taking every single minute of the day off whenever possible (the computers too, apparently). Admittedly, it usually "only" takes 2-3 days to see the money (and less than a millionth of a second for the computers to process).

 

Want to add cash to PayPal from your bank account? Expect to wait nearly a week before that appears too - yet if you buy something with $0 in PayPal, of course the amount is debited immediately, even if it makes the account overdrawn! Yet if you try to take money out of an ATM or via EFTPOS with nothing in the bank, you will be greeted with a nice big Insufficient Funds or DECLINED message and receive $0 for your effort (and if you were in a queue at the supermarket, expect some nice vews from the people behind you while they wait that extra minute).

 

Bonus points for the topic popping up before one of the longest "weekends" of the year, where it will take even longer to get money out. I won't forget to mention Ausfailure Post either, which won't be open until the Wednesday following Easter (the lazy See-You-In-Tease).

Message 4 of 10
Latest reply

3-5 business days for payment to clear

As far as my bank says that the money has been released to paypal so it is paypal who are holding it back from clearing.

This has never happened on any of my accounts before and I'm not sure if it has anything to do with the amount being a few thousand dollars that is now lost in cyber space lol.

Maybe both paypal and the bank are having a tug o war with it not wanting to lose it either way haha

But yes I agree with you 100% and I have argued this with the banks in the past and my bank is now supposedly a smart bank so all funds are instantly processed.

Message 5 of 10
Latest reply

3-5 business days for payment to clear

Happens frequently when I receive an echeque, I very rarely get my money before the 5 working days.
Message 6 of 10
Latest reply

3-5 business days for payment to clear

It has been 9 working days now it will be 10 working days by tonight

Message 7 of 10
Latest reply

3-5 business days for payment to clear

Off topic, but just as a matter of interest; is there any way to block payment by e-cheque?

Message 8 of 10
Latest reply

3-5 business days for payment to clear

nope, as we sellers are not told how the buyer is paying whether it be by CC, paypal account or bank account.

 

Naomi that is a bit rude and yes I would be pizzed too, 5 working day is bad enough. Keep on them.

Message 9 of 10
Latest reply

3-5 business days for payment to clear

I will be on their backs until this is resolved.

And it's amazing how paypal just took out the fees to pay ebay instantly out of my bank account and the transaction says it's completed but still pending with this other payment,this is ridiculous!

Message 10 of 10
Latest reply