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Fee Reversal from PayPal?!
 

I always use the faster payments option when transferring to the bank.

It seems I have to wait around 2-3 days from the moment I hit the 'withdraw' button for the status to alter from 'pending' to 'complete'.

I did two transfers last week and waited the 2-3 days. Once complete the cash was in Barclays Bank account the next morning. So I figured the £5 faster payments option works well.

Today I have received a refund of £5 from PayPal. The details of the transaction simple say 'cancelled fee'. I checked down my payments list and noticed that I had the same 'cancelled fee' on my account last week also. But the transfer is done the following day and when I don't use the £5 service it takes 3 days...

Anyone experiencing this? PayPal are throwing around fivers...lol :clap:

PayPal do refund you the fee if their are delays that cause the funds to not be released from your account within their quoted timeframe.

But for them to refund you even though they managed to release the funds within the timeframe is not something I have experienced. < This is what you are saying isn't it?

Is the quoted timeframe actually 2-3 days? I thought it was 1-2 days?

Thats good if paypal are giving the £5 'faster option' fee back.

However in my opinion when ive tested it Ive found it makes it virtually no quicker to reach my account.

^ I found out that the way it works is that your withdraw is 'higher priority' over normal withdraws with PayPal, delays come from the security system flagging certain withdraws for review.

Once the withdraw goes from pending to complete, that means PayPal have released the funds. Any delay after that is down to the bank.

The faster option is quoted as 1-2 days for bank clearance. The 2-3 days I was referring to was how long it takes to go from 'pending' to 'complete' in the actual PayPal account. Once it says 'complete' the funds are there the next day when I pay the fiver.

Faster option is such a joke - i mean if you choose it, then basically you have given a 5 for a normal service....sometimes banks will clear payment in 1-2 days, sometimes not - there is no real "faster option" on the bank side - only pp's...

Agreed rsot :pop2: