PayPal withdrawals clearing within 24 hours?

[aussie.grazing.boards]

Hey guys,

Can you believe this? During the last few weeks, ALL my withdrawals from my PayPal account to my bank account are clearing within 24 hours.

The only thing that's changed is that Ive got PayPals working capital loan, ever since then, my withdrawals have been clearing so rapidly.

Is this some form of reward? Or are your withdrawals clearing this quickly as well?

[lyndal1838]

It definitely has nothing to do with the size of the seller.

I am not a seller......all my transfers are private transfers between my OH and his family members in the USA and Canada.   We have used paypal since long before it was called paypal and aquired by ebay.

I have found that as long as I initiate a transfer before 5.30pm it is in my bank account the next morning.   It has more to do with your bank than with paypal.

[phorum_junkie*]

Mine have always been 24 business hours/ next day on my ANZ account, when I had a Suncorp account that used to take 3 days on average. I had accounts before ebay bought Paypal and it has always been the same for me. 

[dress_it_up_auseller]

Transfers done in the morning, in my account around 3.30pm the same day, has been like that all year.

[collect247]

So my bank will process it in 1 day then say stuff you and process it in 3 days.

My bank processes my transfers and deposits immediately with everything except PayPal so it's the banks fault is it? I don't think so.

[lyndal1838]

I can't answer for your bank.   It is obvious that you are one of the posters who wants to blame paypal for everything.  Nothing I can say will convince you otherwise, but my experience is vastly different

I know that my bank does it's transaction runs overnight.....from 6pm onwards which is why I have to start the transfer before 5.30pm.

Almost all the bills etc that I pay with B-pay are processed overnight as are the bank transfers.

[bobbiegower]

Exact same situation has happened for us. Usually when I initiate a PP withdrawal it will show as 'pending' for exactly 24 hours and is then processed and will see the money in my account the following business day (after it shows as completed). I recently applied for the working capital loan and withdrawals now only show as pending for an hour or so and I'll usually see the funds in my account same day. It's definitely at Paypal's end, not the bank.

[zeegaustralia]

Ours also clears within 24 hours. If it helps, the bank we use is BankWest and they're really good business banks!

[shacklestore]

Mine used to take 3 to 4 days but I found over the past 12 months it's 2 business days. I am assuming more banks have a direct relationship with Paypal now rather than transfers going through one (or more) correspondent banks.  Perhaps there has also been pressure from the large corporate sellers demanding a more efficient transfer process.