PayPal transfer to bank.

Drake5 · 2 Sep 2010 at 12:32

Do PayPal really complete this process in 2-3 days like they quote on there website? Just wondering because last time I did it, I'm sure it ended up taking 5 days.

Anyone here transfer to bank regularly so they could give me a rough idea on how long it usually does take?

Cheers

kae2 · 2 Sep 2010 at 12:32

5 days here too.

Schizo · 2 Sep 2010 at 12:33

3 days for me.

UnworthyBean · 2 Sep 2010 at 12:34

Normally takes 3 working days for me. Last lot I withdrew on the 9th, Was in my bank on the 12th.

Participant · 2 Sep 2010 at 12:34

Do they deliberately make it take ages to encourage people to link their bank accounts (no thank you)?

J1234 · 2 Sep 2010 at 12:35

3-5 days here.

Bleek · 2 Sep 2010 at 12:41

Typically 3 days now, they've improved from when they used to take upwards of 5 days.

Bleek · 2 Sep 2010 at 12:42

Robbie G said:
Do they deliberately make it take ages to encourage people to link their bank accounts (no thank you)?

The longer they have your money the more interest they can accrue, a few days in limbo on millions of accounts is a considerable gain for them. It's standard practise. There's actually no reason why they, and any other bank, can't transfer at the roll-over of business days.

muon · 2 Sep 2010 at 12:43

Bleek said:
The longer they have your money the more interest they can accrue, a few days in limbo on millions of accounts is a considerable gain for them.

Not just them either. Banks do it at their end.

Drake5 · 2 Sep 2010 at 12:44

Thanks for the replys guys. I'm sure you used to be able to pay £5 to get them to do it the same day, but it appears they don't have this feature anymore.

MiNxYyY · 2 Sep 2010 at 13:00

How much are you transfering?

Some people ask on here for a BT transfer and then you pay them via paypal

Participant · 2 Sep 2010 at 13:11

Bleek said:
The longer they have your money the more interest they can accrue, a few days in limbo on millions of accounts is a considerable gain for them. It's standard practise. There's actually no reason why they, and any other bank, can't transfer at the roll-over of business days.

ghost101 said:
Not just them either. Banks do it at their end.

Private bank transfers are now instant. Obviously that's different to PayPal so I understand what you're saying about the interest, I was really asking whether or not linking a bank account enables same day transfer with PayPal?

PistolPete · 2 Sep 2010 at 13:12

Bleek said:
Typically 3 days now, they've improved from when they used to take upwards of 5 days.

This - I'm with Lloyds

muon · 2 Sep 2010 at 13:12

Robbie G said:
Private bank transfers are now instant.

Only if they support FPS.

http://www.ukpayments.org.uk/faster_payments_service/value_limits/

Banks are under no obligation to handle Paypal deposits like this anyway.

LEK-89 · 2 Sep 2010 at 13:14

Last time I sold a computer on ebay which went for £200 the transfer from PayPal to my bank too approx 2 working days. Though when I sold another item which was only £40 the money took 4 days to arrive in my bank :s

Liam

MadMan-JaMeS · 2 Sep 2010 at 14:11

It depends how you do it i think,

I have £18.50 being transfered from my paypal to my bank and was quoted 2-3 days, but then i've also got a refund of £138 which i paid on my card being payed back and was quoted 4-5 days.

The funny thing is, i have my paypal linked to my bank but they use the direct debit setup which is wierd.

Vonhelmet · 2 Sep 2010 at 14:17

The Co-Op are really quick these days. I've had transactions from some banks come through nearly instantly.