ot -paypal discrepency - solved.
LanceNewmanOCC
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i'm only posting about this in light of crazy 2020 events and just want to know if this is an anomaly or indicative of the strains of this year.
quite simple really. i initiated a small <$100 transfer from paypal to my bank, as is normal and thought, it may not be there saturday as weekend transfers can be a bit unreliable depending on the time they are initiated. so here it is monday and nary a transfer in sight. so i log into pp as sometimes a snad/refund request can stop a transaction if there isn't enough in pp to cover it. nope. the transfer says something like expect around 9-9-20!
i cannot remember the last time a transfer estimated taking that long. no restrictions on my account.
just wondering if anyone else has seen delayed transfer times. i did get up early sat morn to make a bank dep in case the transfer didn't go through in time as i was making a purchase and it chose my bank instead of my balance and thought, this is probably a waste of time. (nope) ugh. tried to sign up for instant transfers but it says my bank doesn't accept that. double ugh.
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Lance, I think the last couple times I did it the notification SAID three days, but it happened the next business day. I did it three or four times in late July/early August, and I'm pretty sure every time was the same.
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Labor day weekend maybe? If the transaction was started after like 3pm on Friday it may not be initiated until Tuesday the 8th. Of course this is just speculation...
it is this. i knew the holiday but didn't apply it to my transfer. it is my bank not being open, not pp.
TYVM!
I have not run into this issue, however, it surprises me. An operation as large and established as paypal should have 24/7 operations. And banks should also have systems that accept such transfers as well. Cheers, RickO
agree, electronic bank transactions are not dependent on the bank being open.
one day PP transfers are only guaranteed if you pay for the instant transfer. Otherwise up to three days.
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normally i would agree. i watch my transactions with my bank and how (more imprtanly when) they are posted and while an electronic transaction may hit their system, it doesn't show on my account until they either manually or en masse do account updates once someone to do that job hits the premises. the reason i know this {at least with the bank i'm currently at} is that no new transactions show until they are physically open (maybe 1 hour earlier, i really need to re-verify this). this is pre-c19 as well. (can't say i'm impressed with this part but otherwise they are really great and accommodating.
if it weren't my business account, i'd probably switch for this reason alone but it was a major pain setting up a business account with numismatics all those years ago. apparently a lot of money laundering and shady activity goes on or so the government thinks. the forms i had to fill out and go through. ugggghhhhh.
They probably say that to push their instant transfer feature in which they charge you a 1% fee but the funds show up in minutes.
It's been the next business day for me for over a year.
it depends on the bank, they may need to be open to show it has been credited to their account
Paypal transfers that normally post on Monday post on Tuesday if the Monday is a federal holiday.
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I usually do the free transfer from PP to my Credit Union Sunday night before I shut my machine down for the day. Except for holiday weekends the money shows up Monday morning for as long as I can remember. I bet yours will be there tomorrow.
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