topic Withdrawing funds from PayPal in Selling

Withdrawing funds from PayPal

flashback_deals — Mon, 13 Aug 2012 02:02:23 GMT

When you withdraw funds from PayPal to your bank account, on PayPal it says completed but funds aren't in my account

Is this normal or does it mean it will just be in my bank account tommorow?

I thought if it says completed, i would have the funds

Re: Withdrawing funds from PayPal

kopenhagen5 — Mon, 13 Aug 2012 02:05:42 GMT

No, it's not instant, in fact it can take anything from 2-5 days. I thought it states that on transferring, but maybe you didn't see it. 🙂

Re: Withdrawing funds from PayPal

flashback_deals — Mon, 13 Aug 2012 02:14:13 GMT

I have transferred funds plenty of time, only just noticed it today

Usually takes 3 working days for me, sometimes I can withdraw wednesday night or thursday and the money has arrived on saturday

Re: Withdrawing funds from PayPal

***super_nova*** — Mon, 13 Aug 2012 03:32:36 GMT

The time depends on how fast your bank processes the transfer.

Re: Withdrawing funds from PayPal

putney32 — Mon, 13 Aug 2012 06:17:08 GMT

once the money leaves PayPal it is up to your bank and the transfer system they use

if you have a cr/union it can take up to 7 days, me, I use the ANZ and it is usually 2 days

Re: Withdrawing funds from PayPal

auction_assassin — Mon, 13 Aug 2012 07:14:41 GMT

Yes, this is normal

When i transfer, it says completed in Pay Pal, then it clears in my bank the next day or so.

Re: Withdrawing funds from PayPal

digital*ghost — Mon, 13 Aug 2012 07:24:31 GMT

The way I figured it, the completed status means the process at PayPal's end has been completed, and now it's up to the bank to process and credit the transfer - probably because they make mass transfers for withdrawls once a day, or something.

Re: Withdrawing funds from PayPal

annies_fancy_dress — Mon, 13 Aug 2012 09:13:21 GMT

St George seems to be taking about 5 WORKING DAYS.

Grrrrrrrrrrr.

Re: Withdrawing funds from PayPal

supagrover69 — Fri, 01 Aug 2014 02:13:47 GMT

Yes its important that everyone realises something here - there are 3 parties to the transaction;

1. Paypal

2. your bank

3. the inter-bank transferring system

As Paypal is a registered financial insitution withni Australia it has to use the same inter-bank transferring system that all banks use. If you can get funds withdrawn to your ANZ account within 2 days, why dont those funds appear in your Paypal account when completing a deposit to your Paypal account?

I'll tell you why - because Paypal hold onto your funds internally for 2-3 days & make money from credit bearing accounts.

Re: Withdrawing funds from PayPal

lyndal1838 — Fri, 01 Aug 2014 03:16:10 GMT

@annies_fancy_dress wrote:
St George seems to be taking about 5 WORKING DAYS.

Grrrrrrrrrrr.

That is unusual Annie.

Admittedly I am not withdrawing money regularly but any time I have withdrawn funds to my St George account it has been done overnight, or at the very most 2 nights.

In fact, all transfers I make from a St George account usually process overnight.

Re: Withdrawing funds from PayPal

ajarnjenny — Fri, 01 Aug 2014 04:55:22 GMT

Newcastle Perm takes sometimes 4, sometimes 5 days.

Re: Withdrawing funds from PayPal

clarry100 — Fri, 01 Aug 2014 07:32:58 GMT

Our funds D/L usually take 2-3 working days.

We use Citibank.

Re: Withdrawing funds from PayPal

5kazam — Fri, 01 Aug 2014 08:26:52 GMT

Yes it is interesting on the length of time it takes to transfer money from PayPal to a bank account. Normal bank to bank transactions happen overnight (if done before 7.00pm).

On the other side of it, if a payment is made by e-Cheque, PayPal take the funds from the account the same day, but the receiver of the funds does not see the money for roughly 5 days. Strange really, because if the bank allows PayPal to make that withdrawal from an account, there must be clear funds there for the transaction to happen - otherwise the withdrawal would be denied. There is no excuse for the time delay other than PayPal is making money on the short term money market.

Re: Withdrawing funds from PayPal

cherry*135 — Fri, 01 Aug 2014 08:53:41 GMT

Withdrawals from your PayPal account to your bank account can take 3-5 business days to complete, depending on your bank's schedule for completing transfers.

From the withdraw page in Paypal

Bank to bank transfers from personal accounts (not business) take 24-48 hours. Especially if you have not transfered money to the other persons account at a different bank to yours before.

Re: Withdrawing funds from PayPal

5kazam — Fri, 01 Aug 2014 09:50:24 GMT

I have read that PayPal statement previously.

However, I think that PayPal put the onus back on the banks. 'Depending on your banks' schedule for completing transfers' - what a load of hogwash. Anyone who does internet transfers KNOWS that it doesn't take 3-5 days.

And when taken into consideration that PayPal is a financial institution in Australia, it shouldn't take 3-5 days for the money to be lodged into a person's account. As I said above bank to bank - overnight.

And I'm sorry, but I do not believe the guff from PayPal that it takes that long.

Also read my reference to e-Cheques. Any 'normal' cheque takes only 3 days to clear - why should an eCheque take 5-7 days to clear (PayPals statement, not mine).

'Money, money, money, makes the world go round' ...!!!!

Re: Withdrawing funds from PayPal

cherry*135 — Fri, 01 Aug 2014 10:30:54 GMT

Kazam.. I just hit reply, which comes up with the posters name in the previous post.
I posted that info for the OP really.

Re: Withdrawing funds from PayPal

5kazam — Fri, 01 Aug 2014 10:40:35 GMT

Okay, no problem.

Re: Withdrawing funds from PayPal

davewil1964 — Fri, 01 Aug 2014 10:58:10 GMT

What some might like to note is that this thread is TWO YEARS OLD!!!!!!!

Surely you could start another thread if you have an issue? Given that the posters on this thread obviously don't. As they haven't been back in TWO YEARS!!!!!!

Re: Withdrawing funds from PayPal

lyndal1838 — Sat, 02 Aug 2014 00:20:11 GMT

Ooopsy, I only looked at the date on the post above mine....that will teach me!!!

There are quite a few Zombie threads surfacing at present.....I must be more vigilant.