Paypal question.

[Combwork]

Does anyone know why you can put credit into your own Paypal account from a linked bank account in minutes, but it takes several days to put `credit' into your bank account from your Paypal account? According to Paypal "it's the banks fault"; the banks say it's not. Both banks and Paypal say they use electronic funds transfer; it's not as if making a transfer from one to the other involves physically moving bits of paper.............. Jim.

 

[hellhound94]

I have often wondered the same thing. And in fairness to PayPal, it certainly could be the bank, based on the two banks that I use. Both of them are ridiculously slow in posting deposits and/or withdrawals. In this day and age, it's extremely hard to believe it would take so long. I believe the banks as well as PayPal do whatever they want to do so that they have some kind of advantage. After all, what's the average person going to do about it?

 

[EricC]

I blame paypal. The bank I use is a small local bank that has great management. (which is why I jumped on their IPO) They will post funds into my account as soon as I transfer them. My guess is paypal likes to hang on to the funds to earn interest on them. The bank would like to do the same so I doubt they would put up any fight to have funds added to your account.

 

[Web Police]

I have often wondered that myself. Whenever I transfer funds to my bank account from payapl, they dissapear instantly from paypal yet show up in my back account two or three days later. I think they are just having a beer with the socks that got lost in my dryer.

 

[hellhound94]

ExJxC: My wife was using two small banks in the South Bend, Indiana, area before she moved to Cleveland and both of those banks posted transactions almost instantaneously, just like yours.

Both of mine are huge national banks and they are as slow as molasses.

What's wrong with this picture?

 

[Pioneer727]

I have had the problem in sending money from my Bank to paypal taking 3-4 days.

Ron