Paypal Withdrawing Fast Payments?? To HSBC

gareth_mattey

Hi everyone,




i did the faster withdrawal on paypal for £5 yesterday at 2.50pm and it showed as completed today at 3.11pm got an email from paypal.


I'm not sure what the cut off times are and heard its done via chaps but no idea.


Wondering if i should get it into my account tomorrow on the 3rd?


Heard some nightmare stories after choosing the faster payments option but i'm relying on the money being in tomorrow.

my bank is hsbc


thanks for any help

williecity

I am really looking forward to this.
In this day and age waiting 3 to 7 days for your money is just not right.

We should thank the new EU law for this.

mrjam

gareth_mattey wrote: »

Hi everyone,




i did the faster withdrawal on paypal for £5 yesterday at 2.50pm and it showed as completed today at 3.11pm got an email from paypal.


I'm not sure what the cut off times are and heard its done via chaps but no idea.


Wondering if i should get it into my account tomorrow on the 3rd?


Heard some nightmare stories after choosing the faster payments option but i'm relying on the money being in tomorrow.

my bank is hsbc


thanks for any help

Dont mean to worry you but a guy at work uses paypal a lot to sell books on eBay. He said when he does a normal withdrawal, he gets the money in 3 days. He's done a "faster" withdrawal a few times now and it's taken longer. All for £5. Excellent service!

thenudeone

Paypal won't be using CHAPS, which cost £15-£25 a time.

I've never understood how paypal got away without having to use faster payments

Gromitt

thenudeone wrote: »

I've never understood how paypal got away without having to use faster payments

They are a large company and probably doing thousands of debits and credits a day, so most likely using the BACS direct credit system.

mat884

williecity wrote: »

I am really looking forward to this.
In this day and age waiting 3 to 7 days for your money is just not right.

We should thank the new EU law for this.

eh? what EU law? It's not the EU's fault if PayPal doesn't adhere to SEPA..

The EU has made an efficient cross-border payment scheme, with next day credit and most importantly completly fee-free. If PayPal doesn't adhere to SEPA beacuse essentialy it makes them redunant, it's only their fault and the users that use PayPal that complain that it takes long to receive the credit.

Tmesis_2

thenudeone wrote: »

Paypal won't be using CHAPS, which cost £15-£25 a time.

I've never understood how paypal got away without having to use faster payments

On business accounts CHAPS is normally about £3, not the prices personal account customers pay.