paypal australia takes days to reach aussie bank account ? why

[4ewesonly]

hiya,

Does anyone know why it takes 4 or 5 days for payment to come from PAypal Australia to your own Australian bank account  ?

TIA

[bsal6160]

2-3 days for money to clear from buyers account into paypal then 2-3 days for funds to clear paypal into your bank account would be my guess.

[lakeland27]

from paypal to westpac takes 3 days for me. ometimes only 2.

[kopenhagen5]

This is from PayPal re their Automated Clearing House system -

When you select to take money from your institution and send it to PayPal, PayPal sends an advance notice of the debit to your bank.  Your bank, understandably, places the funds on hold and debits them immediately - they know you're expecting to pay the bill, and would rather ensure that the funds are there than bounce a check down the line.  The entire settlement process then takes up to four business days before PayPal has the funds and can place them in your account balance.

Withdrawals from PayPal work much the same way.  You tell us to send the money to your bank, so we debit it out immediately to make sure your requested withdrawal goes through.  Except now, your bank is the recipient of the money.  So while we have debited you immediately, your bank won't provide the withdrawal, understandably, because they don't yet have the cash in hand yet. 

And as pointed out different banks and times of the month factor into it as well.

[4ewesonly]

hi thks for replying.

.So if buyer has used paypal to pay and it shows in my ebay account as paid, shouldnt it take less than  4.- 5  days to get from where ever paypal australia is into your own aussie bank account. or is paypal Australia not really in Australia but for that matter why does it takes so flamin long cant they [paypal] put it in as quick as they take it out to pay for account fees ?

Sorry for banging on about it but its annoying..

cheers hope all your Valentines days were what u wanted .

[4ewesonly]

hi KH5  I was looking earlier for  blurb like u just posted thats why I asked the question.. our posts crossed.

thks to all.

yippee its my eldest son's birthday today..15th.

[kopenhagen5]

Hi Miss J, Hope it answered it.  H.B. to Mr 15. 🙂

[putney32]

paypal to ANZ usually takes 1-2 days for me.

part is to do with which bank you are with.  the Big Four are much faster, usually, than the 'others' including Credit Unions (slowest of all).

all the money has to go thru a paper trail of them to central, to us, sometimes 'us' is for example Bank of Melbourne, which would go thru the Westpac clearing house first.  hence the delay

[gem-boy-g]

ditto putney 1-2 days to Westpac

[caljansenv0]

hi there...how do i link my AU bank account to paypal? they keep asking me for checking number....nobody uses cheques anymore