Withdrawing funds from PayPal

[flashback_deals]

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

[ajarnjenny]

Newcastle Perm takes sometimes 4, sometimes 5 days.

[clarry100]

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

We use Citibank.

[5kazam]

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.

[cherry*135]

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.

[5kazam]

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' ...!!!!

[cherry*135]

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

[5kazam]

Okay, no problem.

[davewil1964]

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!!!!!!

[lyndal1838]

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.