Transfers from PayPal are Faster than ever

[pierrelebel]

Since I closed my eBay store and stopped selling on eBay a year ago, I have not had the pleasure of receiving payments through PayPal.

All my inventory liquidations sales - made directly to wholesalers or dealers or through auctions - have generally been paid by cheques or Interac money transfers.  Yesterday I had a customer who insisted in paying through PayPal (despite an offer to give a $30 discount for payment by cheque).

To make a long story short, she paid late yesterday afternoon (between the third and fourth inning of the Jays game),  I initiated a $1,000 withdrawal from PayPal to my bank account at dinner time - Sunday night - and the funds reached my bank account late this afternoon.

That was fast!

[msmaggie060]

Hi Pierre, yes, very fast lately. Transfers out to my bank are done within 24 hrs.

[hlmacdon]

Yep, Paypal is pretty darn efficient. I can have money deposited next day to the US or Canada. One wonders how the Ayden partnership with ebay will compare.

[momcqueen]

Yes, I’d go as far as to say one *worries* how the Ayden partnership with ebay will compare.

[bassox333]

I wonder what's changed?  We don't do an awful lot of bank transfers these days but when we do it will normally show up in the account the next day after 6pm (assuming we transferred before 6pm on the day in question).  I recall as little as three years ago the transfers sometimes taking the full three business days, and with different banks sometimes the full four or five business days.  

It's almost as though somehow after all this time, technology is catching up with the hype surrounding it?  Can't complain.  Still not sure why the exchange isn't instantaneous though 🙂

[momcqueen]

Or the reason a Friday at 4 pm transfer still takes until Monday at noon to filter through the necessary channels. Computers take the weekend off? That's lovely. 

[apmtrade]

Withdraw from PayPal  April 16. Received, bank same day April 16.....