PayPal Funds Transfer Rort

[dazzledayz]

I notice that PayPal is now offering a "speedy" funds transfer at a meer 1% of the total amount.

Has anyone established wether or not this has lengthened the standard (no-fee) transfer time for established sellers?

I've just put a transfer through this morning and it would usually be in my account after 6pm tonight.

If it isn't there I'll be not a little bit miffed.

So far I've played ball with PayPal and always left my eBay invoice balance riding on their books so they can earn a bit of short term money market profit for their trouble.

That will come to a screeching halt if they now want to charge me a tax to access my own funds.

I'll be leaving a $0 daily balance for PayPal to play with; I'm pretty sure they would have been earning much better than that under the old system.

For goodness sake, I know the global economy is in a bit of a rut but are greedy little grabs like this the way out?

[brerrabbit585]

Make the most of it while it lasts.

[eol-products]

Its on more than one account which has me stumped. Although lately I have not had any refunds which makes me think it will refresh after completing one.

[lyndal1838]

---

@the_alchemist_australia wrote:

Yes please do let me know and also what bank you use.

I was with ANZ but only recently switched to St George and having a lot of problems with them.

Their mobile app is awesome but everything else has been causing me huge headaches.

---

I may be able to help you with information about St George and their workings.

I have had private accounts with them since they were a Building Society and Business accounts for over 30 years.

There is very little that surprises me now.

I cannot help with the app though....I don't use it.

It may be better to PM me than to discuss it on the boards.

[the_alchemist_australia]

Thanks lyndal1838 and will do shortly... greatly appreciated.

If I go to do a refund actually on PayPal it still shows as refunding the fees but if through eBay during a return case it does not refund the fees.

I am sure there is some info in there when I click the fees refund policy link on PayPal but I need more coffee to delve into that.
But my withdrawals are still taking two days which is no big problem. Just that it did used to be same day and now it isn't is a bit disappointing.

They took away my candy! lolz

[lyndal1838]

It may be that payal is playing hardball with ebay because ebay is encouraging refunds which can cost paypal big money.

I m sure that paypal does not have a fraction of the refunds with their other customers as through ebay.

[oz-e-seller]

Mine is still refunding the paypal fee but I am on a negotiated fee plan not on the standard schedule so not sure if that makes a difference.

[brerrabbit585]

I transferred some money from my pp balance to the NAB at 9.10am today. It was in my account when I checked at 4.30pm. It could have been there earlier but I forgot to check. It used to be that it was only the CBA where transfers were that fast with pp but it's been fast with the NAB for quite a while now.

The NAB has greatly improved in the last year or two. I get a fair few DD payments and a lot of them show immediately, but it's rare that they don't show in less than a day, eg someone paid after 10pm recently and it was showing just after lunch the next day (but not before 9am).

[toynbook]

Yes, true.

Sellers would lose the seller fees on PAYPAL for any cancellation. (This is a new condition put in lately by PAYPAL)

[toynbook]

we didn't get any PAYPAL fees refunded for any cancellation since the new conditions came in recently.

[wide-world-of-stamps]

We haven't done any cancellations recently, but do refund excess postage through Paypal.

Fees for those amounts are still being refunded to us.

Maybe that's because it's only a partial refund, or because the refund is directly through Paypal and only refunds processed via eBay have fees not refunded.

Totally confusing, and not likely to be clarified any time soon by either party (as usual).