Payments used to go straight through and i would receive my purchases in the post sometimes 2 days after buying them.
Now the last 4 transactions they have the payment pending for 7 days.
And they also call it e-cheque?!? How can it be called a cheque if it is paid by debit card?? My debit card will not give credit beyond my overdraught.
So what is Paypal up to? Why do i have to wait 7 days all of a sudden to wait for my payment to clear?
2007-03-13 03:24:27 · 7 answers · asked by Part Time Cynic 7 in Business & Finance ➔ Other - Business & Finance
Just to add ... I am verified
2007-03-13 04:09:33 · update #1
I've used Paypal for 3 years now. On the same account. Always used to clear immediately. Only the last 4 transactions have suffered this fate. And again, i am a verified seller although i buy a lot more than i sell these days.
2007-03-13 04:12:21 · update #2
Hi
I had this problem with paypal just before Christmas. What I had to do was update my details as the credit card they had on file had expired. I updated my details and then all my transactions have gone back to immediate payment and I now get my goods quickly.
I would suggest you check to make sure all your details are up to date and your credit card details are also up to date.
Happy Paypalling!!!
Dean
2007-03-13 04:46:41 · answer #1 · answered by Dark Prince 4 · 1⤊ 0⤋
Paypal is using the 7 days to get the money from your bank and transfer it into your Paypal account. Part of their business model is to hold onto your money and earn interest on it before sending it out to whomever you are paying.
If you want transactions to be instant, keep some money in your Paypal account at all times.
2007-03-13 03:40:57 · answer #2 · answered by shmigs 3 · 1⤊ 0⤋
i heard that Paypal are just safeguarding their customers on both sides of the fence. I paid and the seller took my money without sending the goods. THROUGHT paypal. never got my items.... So I recon that it is a good idea. Did you not read that Paypal have changed a lot of things I think for the better for 7 days should sort out both buying and selling
2007-03-13 03:36:28 · answer #3 · answered by sparky 4 · 0⤊ 0⤋
Have to agree with Fanella to a degree. Also, if you bank with a building society (so to speak), then it can take longer to go through the clearing system. I have been using paypal on ebay for 2 years and have never had a problem with payments clearing either in or out. I do not use a high street bank either, I use a building society. Are you approaching your limit prior to verification?
2007-03-13 03:36:35 · answer #4 · answered by bluebadger 3 · 0⤊ 1⤋
That's business, they earn interest on the money they hold until they transfer it between buyers and sellers. Crafty but clever, wish I'd thought of it!
2007-03-13 05:00:36 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Because they can ...
Actually, it's because the massive amount of FRAUD that's going on ... it works like this - you pay me via PayPal & I withdraw the Money.
You then instruct your Bank to 'reverse' the transaction.
I've got the money, You got your money back - so who paid me ??
2007-03-13 03:28:04 · answer #6 · answered by Steve B 7 · 0⤊ 0⤋
your not verified or it would immediately clear
2007-03-13 03:28:18 · answer #7 · answered by Anonymous · 0⤊ 2⤋