PayPal withdrawls to banks to be instant by summer

moneyhustler88 · #23 05-09-2012

I get what your sayig suave, but it still means increased security...

SUVE · #24 05-09-2012

Quote:

Originally Posted by Schrib

I get what your sayig suave, but it still means increased security...

Not necessarily.

Remember, PayPal actually had initially refused to comply with this faster payments process via EU legislation until they were legally obliged to comply or face sanctions. PayPal don't want to do this but they have no choice.

I think it will work out 'better' in the long run for the end user.

moneyhustler88 · #25 05-09-2012

That makes it sound even worse..if paypal didn't want to do it at first then probably a definete increase in security!

Thankful · #26 05-09-2012

Refusing to comply initially with EU legislation.

Just goes to show that e/b never did care about the sellers, would you not want the people that make your business money, given their cut faster!

moneyhustler88 · #27 05-09-2012

thats so true thankful paypal are clowns

SUVE · #28 05-09-2012

I don't think it was a big secret that Paypal were being forced to comply with EU law on this matter. I think most folks aware of this development knew Paypal were not doing this process from the goodness of their hearts. That much was obvious.

Paypal are infact actually late on the compliance of this faster payments policy implementation but this is the first time they've now officially given some official release date to bring in the changes mandated by law within the UK/EU marketplace.

Thankful · #29 05-09-2012

Hopefully no more threads from UK/EU posters asking when their money will be in their bank

moneyhustler88 · #30 05-09-2012

or more stealth users thanks to faster limitations

SUVE · #31 05-09-2012

Human stupidity is rather infinite I am afraid. Don't hold your breath.

moneyhustler88 · #32 05-09-2012

very true suve

GreenBean · #33 05-09-2012

Quote:

Originally Posted by SUVE

Possibly a valid point GB.

Though you might be aware of the new EU Regulations recently that stipulate a 'faster' payments system that applies to the UK & the EU ??? I believe it is connected to that at some level.

Well aware.

Been 'forced' into doing something and achieving that are two different things.

What of paypal 'going' to a bank account to pull out funds and none are in the account? Horrible thought.

GreenBean · #34 05-09-2012

Quote:

Originally Posted by GrannyT

Will they still be charging £5 for this?

Nope, they canned that.

It's NOT the 5 quid to worry about.

It's the bank charges for those users who get caught with fees for having a nil balances etc that are more dangerous.

SUVE · #35 05-09-2012

Quote:

Originally Posted by GreenBean™

Well aware.

Been 'forced' into doigg something and achieving that are two different things.

What of paypal 'going' to a bank account to pull out funds and none are in the account? Horrible thought.

I suspected you might have an inkling on this.

You are correct with regards to the issue of PP raiding the said funds from the bank account just as quickly as they had deposited them in the bank account.

I guess only time will tell how PP are going to go about their 'funds on hold at any moment in time for any reason they see fit' policy in relation to this enforced EU compliance.

GreenBean · #36 05-09-2012

Note the date.

Note the below statement.

Keep your bank accounts in order.

This is allowing paypal to 'touch' our monies.

It may not be as sweet as it appears.

Simply because it is paypal.

SUVE · #37 05-09-2012

I have to remark that your observations are very critically sharp & attuned to the finer points that can go a miss to the inexperienced or untrained novice eye.

MM78 · #38 05-09-2012

Woah back the train...You guys can pay 5 quid to get your cash faster...In 1 day? Why the heck don't we have this option in the US?

SUVE · #39 05-09-2012

Fast forward to this summer & UK users won't have to pay this £5 either for this faster funds release from either of the banks or Paypal for that matter !

Do bear in mind the caveats GB has forewarned about though.

This appears to be a double edged sword at the moment until the practical implications of this becomes more clearer.

GreenBean · #40 05-09-2012

Quote:

Originally Posted by marysman78

Woah back the train...You guys can pay 5 quid to get your cash faster...In 1 day? Why the heck don't we have this option in the US?

Because it's one of the best cons going.

UK banking system is reasonably modern. Together with paypal a slightly different story.

Paypal far too often has taken that money for the supposed quick transfer.

It does not always happen.

If you pick your times of funds transfer you can get them quickly without paying more.

There's also the small matter of this being regarded as a 'special' transfer. Name rank serial number are encoded. For stealth it opens a (remote) chance of info being seen

rsot · #41 05-09-2012

Lot of UK clowns including PP it would seem.

GreenBean · #42 05-10-2012

Quote:

Originally Posted by rsot

Lot of UK clowns including PP it would seem.

Now you're being the clown.

It's NOT remotely funny.

Dont make light of this until more info is known.

Bank account access & paypal are potential grief.

Or, trot off to EVERYTHING ELSE & supply humour there.

moneyhustler88 · #43 05-10-2012

Greenbean is way on point in this thread, this shouldn't be taken lightly for UK users

pod · #44 05-10-2012

Quote:

Originally Posted by GreenBean™

Horrible thought.

This would I assume mean a pretty direct link. Would that not also mean more details available to PP? This sounds to me like a way to help combat money laundering and tax evasion. Not a stealth friendly deal maybe

With home shop online sales growing so rapidly world wide governments are seeing a huge amount of money moving around without taxation.

Just me speculating and being negative Nick maybe. I just see more bad then good with something like this. Just suspicious is all