Money I paid from bank account appeared at destination but is also still in bank account.

Taucher

I have/had about £1700 PayPal credit. I transferred £1300 from my current (back) account to the PayPal credit account on Friday. My PayPal credit amount owed has reduced by £1300 and shows that the payment is received but the money is still in my bank account and I cant see any evidence it was paid or transferred.

Any idea what might be happening I just cant explain it?

MyRealNameToo

Taucher said:

I have/had about £1700 PayPal credit. I transferred £1300 from my current (back) account to the PayPal credit account on Friday. My PayPal credit amount owed has reduced by £1300 and shows that the payment is received but the money is still in my bank account and I cant see any evidence it was paid or transferred.

Any idea what might be happening I just cant explain it?

Card payments are made in two phases normally, authorisation and collection. Most the time you will see the payment show as "pending" first then a day or two later move to an actual transaction once your bank has paid over the money. Gaps between the two can be longer or shorter. 

Some companies will certainly mark a payment as if it had been received as soon as they get authorisation even though they haven't actually received the funds yet. In principle an authorised payment shouldn't then be declined so its a fairly safe bet for them but T&Cs normally state they can adjust the balance should the payment not actually come through or later be recalled. 

Other pull mechanisms can be similar even if the exact terminology and technology is slightly different. 

Most likely it's just a timing issue and it will self correct shortly. The other potential obvious option is that you actually paid with a different mechanism than you thought you did and so are just looking at the wrong account. 

Rob5342

How is the bank account linked? Mine is with direct debit and a transfer shows immediately in PayPal but the direct debit takes several days to be taken. 

Deneb

The same as Rob5342. I had a 0% Paypal Credit agreement last year, with fixed monthly repayments on the same day every month. Paypal always showed the monthly repayment as a credit in my Paypal account on the due date, but the payment did not show as debited from my bank account until a few days later.

PRAISETHESUN

I've also seen this with PayPal and a few of my other credit cards. Payments taken by DD actually start to be taken a few days before the money leaves your account and presumably PayPal can see this and they decide to credit your balance early. I'm also sure that if the payment failed to actually be taken from your bank account then they'd just as quickly reverse the credit to your statement balance.