Pay Pal Withdrawal Advice

AG0607

Hi all,

I sold something on eBay for around £300 on Sunday, the buyer promptly paid for the item so the first thing I did was withdraw this money from my Pay Pal account into my bank account using their mobile app.

This was December 1st, I am sat here on December 6th still waiting for the money to reach my bank account. I have never had to wait this long before (it is usually instant) and this particular withdrawal isn't even showing on my transaction list on Pay Pal but my balance is now £0. I have spoke to Pay Pal who advised me to speak to my bank, I took their advice but my bank advised me to go back and speak to Pay Pal.

I'm caught in the middle at the moment, but with it being a busy time of year I could really do with this process being sped up.

Does anybody have any experience of dealing with this or have any advice on what action I can take to speed this up?

Many thanks in advance.

Andy.

Gromitt

It doesn't normally take this long.

Have you verified your bank account? If not, have you checked your bank details are correct in Paypal?

AG0607

Hi,
Yes my bank account is verified and the bank details are definitely correct. I've been using eBay and PayPal for years and have never encountered this before. My main concern is that my PayPal balance is showing as £0 and there doesn't appear to be any record whatsoever of me attempting to transfer this money into my bank account.

Atidi

AG0607 wrote: »

Hi,
Yes my bank account is verified and the bank details are definitely correct. I've been using eBay and PayPal for years and have never encountered this before. My main concern is that my PayPal balance is showing as £0 and there doesn't appear to be any record whatsoever of me attempting to transfer this money into my bank account.

So where did the money go from your paypal account?

I mean, I presume your paypal account shows you received £300 from your ebay buyer, so where is it now?

:huh:

AG0607

Atidi wrote: »

So where did the money go from your paypal account?

I mean, I presume your paypal account shows you received £300 from your ebay buyer, so where is it now?

:huh:

Yes you can see when the money hit my PayPal account but there's no record of me withdrawing the money and my balance has dropped to 0. Both PayPal and my bank are both being very unresponsive and all I want to know is what has happened to the money.

Thanks for the responses guys.

Andy.

eskbanker

Unfortunately PayPal seem to expect you to wait longer before escalating with them, see https://www.paypal.com/uk/webapps/helpcenter/helphub/article/?solutionId=1209485&topicID=48600016&m=TCI:

Why hasn't the money I've withdrawn from PayPal reached my bank account?

Withdrawals to your bank account usually take up to 2 hours to complete. However, some banks cannot process transfers as quickly as others, so some withdrawals can take 2-3 working days to complete.

If the status of your withdrawal in your PayPal account History is 'Completed', it has left our system. Usually, if there's a problem with a withdrawal, it's returned to us and the money is reversed back to your PayPal balance.

We'd recommend contacting your bank to enquire about a missing withdrawal, but if the withdrawal hasn't arrived in your bank account after 14 days, please call or email us and we can then begin search. You may be required to provide a copy of your bank statement to us.

anotheruser

Another point to make is it doesn't matter if the money is in PayPal or your bank.
If the third party (the buyer) starts a chargeback, your PayPal balance will be negative and they'll be on your case for you to pay the money back.

Hominu

I don't know if its still the same, but Paypal used to have two different withdrawal speeds - slow and fast, with 'slow' taking 2 - 3 days and being free, and 'fast' taking a few hours but being chargeable.

techspec

Hominu wrote: »

I don't know if its still the same, but Paypal used to have two different withdrawal speeds - slow and fast, with 'slow' taking 2 - 3 days and being free, and 'fast' taking a few hours but being chargeable.

No its not - they are all fast and free now.

Sounds like the withdrawl is being checked for security reasons.
If its blocked - it will just appear back in your paypal account. If they let it through - it will appear in your bank.

But defo sounds like a security check delay. Selling an high value item and then quickly withdrawing via mobile phone may have triggered it.

Atidi

AG0607 wrote: »

Yes you can see when the money hit my PayPal account but there's no record of me withdrawing the money and my balance has dropped to 0. Both PayPal and my bank are both being very unresponsive and all I want to know is what has happened to the money.

Thanks for the responses guys.

Andy.

Then you need to ask paypal what happened to the £300 credit you had in your account.

They need to explain it somehow.
e.g. you spent it on other things, you withdrew the money, or it's stilll sitting there.

Same with any financial statement. Funds can't just vanish from an account.

mgdavid

AG0607 wrote: »

Yes you can see when the money hit my PayPal account but there's no record of me withdrawing the money and my balance has dropped to 0. Both PayPal and my bank are both being very unresponsive and all I want to know is what has happened to the money.
Thanks for the responses guys.
Andy.

You are not making any sense with this. There is a paypal screen that looks just like a bank statement, with a running balance and every transaction listed in order. So please answer the question asked twice already, where does paypal show the 300 has gone?
Also in post #3 you say 'there doesn't appear to be any record whatsoever of me attempting to transfer this money into my bank account.' Did you get the email that paypal send for every transfer to bank request? (you do always check these don't you).