One of the great annoyances of 2012 for many has been the hamfisted manner in which PayPal introduced faster, or near-instant, balance withdrawals from Paypal to an associated bank account.
PayPal were required by the FSA to have Faster Payments by February this year (iirc). They missed that deadline and promised to have it all sorted by the summertime. They missed that too but in the past few months advances were made. Although not everyone was enjoying the benefits immediately, others were experiencing delays and others subject to mysterious “security checks”.
But the comments about delays and problems seem to have died down. Has PayPal got it right at last? Is everyone able to get near instant withdrawals using Faster Payments? Let us know what your experiences have been in recent weeks.
17 Responses
They were instant until last week then reverted back to 24 hours this week. Very annoying, esp when most were going into accounts within minutes. Random reviews why? Payments have been going to the same account for years!
For the last 3-4 weeks mine have been instant to my Santander business account.
After pressing submit on the PayPal withdrawal I can switch to my already open Santander banking page and click refresh to see the amount sitting there post transfer.
Good stuff at last.
Mine have all been fast recently. However I may have noticed a pattern (a couple of weeks ago) when it seemed that if I tried to get a second withdrawal pin the same day as a previous withdrawal, the second withdrawal was subject to a delay of 12+ hours, while the first was not.
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Yes job done!!
Sounds like most people are getting it immediately, which is a great leap forward. And not before time. (My experience has been that too.)
Curious too that there are some experiencing delays or blips.
Immediate for me too, thank goodness! Now all we need is the FSA to get Amazon to offer Faster Payments too. Waiting 2 weeks for them to release my money and a further 6 days for it to reach my bank account is a real cash-flow burden, especially this time of year 🙁
At one time, Amazon was looking at weekly payments which would have been an improvement but, for reasons unknown to me, stalled on this and kept the 2-week system.
hmmm perhaps it’s time to contact the FSA…
Mine are now instant – even more than one a day sometimes
Yep, mine are instand (2 minutes maximum) but I’m on automatic Paypal withdrawals every night. If I do a manual withdrawal, it goes to a Paypal review EVERY time at the moment.
Well, ours take about 5 days into our Barclays account. Paypal say it’s not their fault as the delay is a result of our bank not having the means in place. How can that be right, being that Barclays is a major clearing bank?
You all know that when withdrawing money if it says anything other than ‘2 hours’ then all you have to do is hit ‘back’ on the same page and then do it again. Don’t hit the web browser’s back button but rather the one on the paypal page that says ‘back.’
All it does is take you one page back then you just do it again and it always goes back to ‘2 hours’ and then the money is in instantly.
It has worked for me every single time. Good luck!
We have 2 accounts. The one is on instant transfers to Santander. The other was until last week, now is taking 24hours. Upon calling paypal they have confirmed it is due to ‘security checks’. I asked them to confirm why as the Lloyds account that it is being transfered to, is still the same one that i opened up the paypal account using. The customer services rep couldnt say anything other than it is a ‘self regulating programme’ that completes the security checks and that they cannot overwrite it.
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