Why does paypal do this?

[SoylentGreen]

If I want to put some money from my bank account into paypal, it takes 3-4 business days.
If I purchase from an authorized paypal merchant, it pays them immediately.

 

[melly]

Simply speaking, PayPal must wait for banks at their end to do some processing. However, authorized merchants have already been set up and have accounts implicitly for instant transactions.

 

[iam4u2nv]

Bottom line I have found with paypal is this.. like everything else in the world
You get what you pay for.
If you want immediate, you pay for it. In paypals defense however I am sure it costs them more for immediate transactions also.

 

[SoylentGreen]

I don't know if I explained myself.

I wanted to put 100 bucks into my paypal account, from my bank account but it takes 3-4 business days.
I purchased an item for 29.99 on ebay, used my bank account to pay and it went through immediately.

 

[Brutuskend]

Originally posted by: Kiyup
If I want to put some money from my bank account into paypal, it takes 3-4 business days.
If I purchase from an authorized paypal merchant, it pays them immediately.

I transferred cash from my bank account and it took 3-4 days, THEN I accidentally OVERPAID the Ebay seller, and there wasn't enough in my PayPal account. Paypal took the difference out of my bank account immediately!! What's up with THAT???

 

[FoBoT]

it does seem wierd , it might be a technicality on the type of transaction

 

[SoylentGreen]

Those SOB's are smart. I put in the 100 Saturday. It's already withdrawn from my bank. Let's see how many days interest they want on my money.
I know it's only 100 dollars in my case, but they do it with everyone that money adds up quick.

 

[PsychoAndy]

Its essentially a cash advance.

Your bank acct has $100
You use instant payment to the merchant for $500.
Merchant gets "paid" $500

-PAB

 

[TNTrulez]

I have heard that paypal can take $$ out of your bank account without you approving it. Lets say you got money from someone, then they dispute it, Paypal takes $ out of your bank account. WTF?

 

[SoylentGreen]

Originally posted by: TNTrulez
I have heard that paypal can take $$ out of your bank account without you approving it. Lets say you got money from someone, then they dispute it, Paypal takes $ out of your bank account. WTF?

I don't know about that it doesn't sound lawful.

 

[kherman]

Te thing I hate most is how my CC info can not be removed. That's a WTF! I never save CC info at sites.

 

[andrey]

PayPal's services are very tricki. They always will do everything possible to get more money from people who're using the service, literally everything they can. I personally try not to use PayPal at all, but since there are no good alternatives at the moment, I have to bite the bullet... Arghh, I really hate PayPal with a passion!

 

[PsychoAndy]

Originally posted by: Kiyup

Originally posted by: TNTrulez
I have heard that paypal can take $$ out of your bank account without you approving it. Lets say you got money from someone, then they dispute it, Paypal takes $ out of your bank account. WTF?

I don't know about that it doesn't sound lawful.

Re-read their TOS. Giving them explicit consent to make a reg-e transaction against your account is probably in there somewhere.

-PAB

 

[Damon]

Hi Kiyup,

There are actually two types of payments from a bank account:

a) echeck-takes 2-4 business days to clear through
b) instant transfer-payment is sent immediately if the user has a credit card on file to back up the bank transfer in the event of failure

 

[SoylentGreen]

Originally posted by: Paypaldamon
Hi Kiyup,

There are actually two types of payments from a bank account:

a) echeck-takes 2-4 business days to clear through
b) instant transfer-payment is sent immediately if the user has a credit card on file to back up the bank transfer in the event of failure

Hey cool, mr paypal.

My bank now charged my a dollar for a debit regarding my transfer. I guess in fact it is considered a debit?

And on b), can I put a credit card on file in order that I get instant transfers?