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Transferring from Paypal to bank account - How long?
 

Greetings

I am waiting for two transfers I have made from my paypal account to my bank account, the first I did for £30 on the 1st of Feb, it said on the email I got from Paypal that I ought to receive this on the 4th (today), and I havent received it in my account, the second I transferred £48, but paid the £5 'fast transfer' fee which I did on the 2nd of Feb, they said it would take 1-2 days, and despite having paid £5 for the pleasure of getting my own money I havent received this money in my bank account neither! WTF?!>?!

I bank with Santander, and the account I am transferring to is an E-Saver account, could this make it take longer? And if so then how long? Anyone have any experience of this?

All help / advice gratefully acknowledged!

kind regards

Johnny

Your looking at 4 days for a standard transfer, the £5 transfer is a bit hit and miss and i wouldnt bother with it.

i'm in the same boat and it won't be in your account unless it says completed on paypal. please check the status in paypal. it may still be saying pending wich means the transfer hasn't been done yet

I think it depends on the bank. I had NATWEST as the only bank attached to my Paypal
initially and there where always delays and excuses. I attached Lloyds and Co-op and since then I have observed for < 200£ withdrawal, either my LSTB or Co-op gets credited
the 3rd day without fail.

For amounts higher than 400£ I normally pay the extra 5£ and it arrives my Co-op in 24 hours. Since then I have stopped making withdrawals to my NATWEST.

oh pk. well mine is natwest and on the 1st of feb i initiated a transfer and its still indicating pending in my paypal. its a stealth account and i'm patiently waiting.. previous to that it took this amount of time only to have been reversed by paypal with them asking me for invoices etc.. i'm waiting on the 180 period to end to get my money back

Hi again

Thanks for the advice folks! I have just checked my bank account online and still no deposit from Paypal, although when I checked Paypal the first transfer I made on the 1st of February now says it is completed when before it was saying it was pending, the second (so called 'fast'!) transfer I did on the 2nd still says pending tho! So much for paying the £5 for the 1-2 days transfer! I am now really in the s**t as I used money out of my own pocket to pay for some postage and I was relying on this Paypal money clearing in my bank account by the weekend, I am now totally skint and I have another item to post via the post office which I cant pay for so its going to be late, which could result in bad feedback, account suspension... here we go again...! 'Sake! What are they playing at! And to make matters worse I have had this 21 day hold slapped on any future payments! WTF?!? Do they seriously expect people to be able to conduct business like this? I might have to set up and use multiple stealth accounts to cover the auctions that I have going on other accounts where I am waiting for money to be released / clear etc.

kind regards

Johnny

E-saver is a savings account.....the payments may bounce back!
Savings acounts work for verification, but cause problems for withdrawals.

I think there are some savings accounts that allow payments from paypal, but have a minimum transaction amount.

after testing most banks, i have found hsbc or their sub division first direct to be fastest, usually 2 days

I have also found that HSBC are the fastest at 2-3 days but also found that Cooperative and Natwest can sometimes be as fast, but also can be up to 4-5 days at times

From what i have observed, it takes 2 working days after status changes to 'completed' for funds to hit bank account. Same for me irrespective of which bank i have tried. The key issue that i am not able to decode which is infact the main prob is what determines the time taken to change from 'pending' to 'completed'. I do not know if this is simplly an internal paypal processing delay which is tied to account age; selling history etc or if paypal internal processing is linked to the bank you used.
Though, i have read on another post that during the pending stage, paypal is waiting for your bank to accept withdrawal request.
This doesnt sound right cos i have seen cases where PP reverses withdrawal after days in pending stage. This has nothing to do with bank accepting or refusing but clearly a paypal decision based on your account issue etc

i agree with you Vonta.. I think it goes through a paypal clearing system before its been sent to your account

It has to say completed on PayPal before the funds will be in your account. There was a thread a while back on here about this in the UK section. Have a search.

hi i agree, i think its based on risk assesment.

paypal to hsbc on an old well established account i have (2008) is 2 days flat

if i set up a new account, wait a month, get verified, start selling second month, to hsbc is about 5 days, this transfer then seems to come down, the older the account gets, and hence the less risky it becomes for paypal to send you the money

also when it says completed, that does not mean nothing, i have had withdrawals that say completed, then reversed

if paypal really wanted to, the money could be in our bank accounts within an hour.

they want that money in their bank, as loooong as poss

Thanks for the contribution...Hopefully someday we shall decode the minefield lol