Paypal fee to transfer money - don't bother!

[paper-jack]

I decided to transfer some money from Paypal to my bank account.

Paypal offered me a choice, pay 1% and get the money fast or take the ' standard' option and wait 3-5days.

Naturally I selected ' standard', not wanting to lose another cent, this was in the morning around 11am, at 6pm same day my bank advised deposit received.

(I bank with CUA so maybe they are the good guys in this case)

[11dustyattic]

---

@paper-jack wrote:

I decided to transfer some money from Paypal to my bank account.

Paypal offered me a choice, pay 1% and get the money fast or take the ' standard' option and wait 3-5days.

Naturally I selected ' standard', not wanting to lose another cent, this was in the morning around 11am, at 6pm same day my bank advised deposit received.

(I bank with CUA so maybe they are the good guys in this case)

---

Yes I've found the same. Never used it, never had to

[wide-world-of-stamps]

We're the same.

Anyway, we're generally not in a hurry, so why pay a fee if we don't have to.

[love_of_cars]

It's great isn't it! I'd love to know if anyone actually has to wait 3 to 5 days if going by standard transfer. It could be with certain smaller banks maybe, and to cover themselves for weekends.

[wide-world-of-stamps]

We bank with a small bank - it used to be a credit union but merged last year.

Transfers have always been quick with them - 15+ years payments from clients for my then business were always credited very quickly.

[wide-world-of-stamps]

By the way, managed payments seems to take about the same time as Paypal (once the transfer is initiated which can take a day or 2).

Message received re payment 3.40am, money in account 10.47am on the same day.

[curraone]

this must depend on your bank

my first management payment was for a sale at 6 am on 3 august - did not receive the money in my bank until 3 sleeps later. 

whereas paypal has always been overnight for me.