New bank verification method

Certainly would.

[rsot]

Would also save money and process steps for pp - 0.01 vs. 2 deposits

[cortex]

OP: which type of bank accounts are they?

FYI - in my case, the two accounts the £0.01 instant withdrawal happened on were HSBC Flexible saver. Have used the same type of account since then - same old 2-3 day verification.

TBH, I've given up on this for now. If it happens again I'll report immediately.

[meVebay]

Just got this method, won't say which bank as its not that mainstream.

Business account, will try a few others and see how I get on!

I don't think the bank matters

[rsot]

hsbc is one of those banks that is being explored for extended uses

Sorry I'm not with you there, RSOT, care to expand?

Big news, just got the new verification system on a Halifax account. First time in 2 months.

[Mack the Knife]

Originally Posted by cortex

OP: which type of bank accounts are they?

Halifax Easycash for one, Santander Basic Account for another.

[ebayhatesus]

Hello folks. I have never seen this before when adding a bank. Just added the bank tonight

You've successfully submitted your Direct Debit Instruction

To complete bank confirmation, PayPal will now deposit £0.01 into your bank account. You will find a 4-digit code next to the deposit on your statement. You can check your bank account now via online or telephone banking to see if the deposit has arrived.

This deposit should appear in your bank account within the next few minutes, but may take up to two hours, depending on your bank.

What is this all about?

[mburns2005]

Originally Posted by ebayhatesus

Hello folks. I have never seen this before when adding a bank. Just added the bank tonight

You've successfully submitted your Direct Debit Instruction

To complete bank confirmation, PayPal will now deposit £0.01 into your bank account. You will find a 4-digit code next to the deposit on your statement. You can check your bank account now via online or telephone banking to see if the deposit has arrived.

This deposit should appear in your bank account within the next few minutes, but may take up to two hours, depending on your bank.

What is this all about?

It should be like this all banks are faster payments
i had my last account done in hours this one has taken 4 days so far
still no deposit

[ebayhatesus]

When did they bring this in? I always thought ir was the 2 deposit method.

[GreenBean]

Originally Posted by ebayhatesus

When did they bring this in? I always thought ir was the 2 deposit method.

First reported 4/10/2012.

Merged your thread with the earlier one.

[dburnside]

I got this in santander account 2 months ago

Yeah I saw this over 2 months ago on HSBC

[kathemmi]

Originally Posted by GreenBean™

Which bank?

Interested to know for future purposes.

I used Co-op - 1p deposited within the hour but it took until the next morning for the 4 digit code to appear

[Imakemoney]

I've still not come accross the faster verification method yet...

[Elijah]

Strangely I have had it a few times on US accounts but not on UK accounts yet (although I must admit that I make far more international PayPals these days than UK ones).

[Keithlan1978]

I just got this 1p deposit when verifying a bank account 1 hour ago and it went in straight away, First time I've ever seen it as I've always had the 2 deposits taking 2-3 days, this was on a tsb account

[sax4]

Technology these days huh? Used to take 2-3 working days to transfer less than 10p, now its done same day. What a sophisticated banking system we have

[Ropey]

Yes they have not implemented it fully yet, I added one the other week, it done it instantly, just a few days ago, sent the deposits, 2-3 days waiting.