Paypal question and RANT!

Chemocurl zn5b/6a IndianaMarch 10, 2008

Grrrrrr......

Last Wed 3/5 at 8PM I initiated a transfer for funds from my checking account to be deposited in my Paypal account. After I submitted the transfer I rec notice that the funds should be in my PP account on 3/10 by 5PM.

This afternoon I called my bank, and found out the funds had been withdrawn from my account. They did not arrive at Palpay b4 5PM. They still are not there.

What is up with that? I used the PP link for customer service and I was led to believe they would answer my question promptly.

Now if my money is not in my bank, and it is not in my PP account, just where is it? I asked PP that. I asked if it was lost. I asked when they expected to have it in there as I won an ebay auction Sat and was needing to pay for it.

Why does it seem that so few things go right any more? Do you suppose PP takes the funds asap, holds them (HUGE lump sum of everyone's) and even draws interest on them?

I'm so stressed about this. The ebay seller even went ahead and shipped my item. I just emailed all of the above details to her...sigh

I guess this is household finance, as I purchased attachments for a kitchen Aid Mixer, for juicing, grinding, and slicing. I will be enjoying it when I put up the harvest in 2008.

Sue...disgruntled Pay Pal customer

Thank you for reporting this comment. Undo
joyfulguy

Greetings everyone,

One thing that I can't understand is that I can send an email to chemocurl in under 5 seconds ...

... but it takes *5 days* to transfer money from her bank account to PayPal??

The banks are all the time trying to get us to use those machines that stand enticingly just inside their front doors, so they can hardly claim that they send the money by mail!

Heck - I'm sure that chenocurl could send a letter to me, over that border, and have it arrive in about that much time ... or possibly less. Even if it had a cheque in it!

Maybe it went to India en route (quite a few people speak English, there).

Or China (many don't, there - but they're learning).

I told my daughter several years ago, who knows some of three languages ... that the next would be Chinese.

Our people need to pull up their socks.

Have a great week, everyone.

ole joyful

    Bookmark   March 11, 2008 at 12:47AM
Thank you for reporting this comment. Undo
zone_8grandma

Sue,
Is this the first time you've used Paypal? The reason I ask is that I've both bought and sold on ebay using Paypal. It always seems to take a few days for the funds to show up. It doesn't bother the seller because paypal credits their account immediately.

I've noticed that it takes a few days for the funds to come out of my bank account after I've made a purchase and it also takes a few days for the funds to show up in my account when I transfer funds from paypal to my bank account.

I have to agree with you and joyful. I cannot see any reason why it should not happen overnight, but it doesn't seem like anything to get too upset about. As I said, paypal credits the seller immediately. The seller knows that if you used paypal that she/he will get paid.

Enjoy your attachments!
G'ma

    Bookmark   March 11, 2008 at 10:34AM
Thank you for reporting this comment. Undo
breenthumb

I hardly ever use Paypal but when I do its set up to go right on my credit card. Gives me a record of everything, get a little cash back from CC end of the year, no interest because I pay in full every month. Plus its quick, easy and seems like extra protection. Sandy

    Bookmark   March 11, 2008 at 2:21PM
Thank you for reporting this comment. Undo
herus

I got a PP account only a few months ago, after years of trading on a hobbyist website using only Money orders and sometimes personal checks. it is much more convenient.

That's it. In all, I don't trust them with jack. I keep the least amount of money possible in my account and have not given them my credit card number.

Funnily enough the same thing happened to me today. I bought something that cost perhaps 5% more than I had funds for. So it ALL went into an e-Check status, and the seller says he is going to wait to ship because that's what the PP letter advised him to do. Let's see when it clears. However, about 10 hours after the e-check, my bank account still has not been touched.

Paypal is the most draconian system I've ever seen. Make one false step and you're out some cash. I have a personal account, so I don't pay the 3% on an incoming payment IF that payment was NOT made by credit card. I received one once, and my full account was converted to a 3% level. I had to reject the payment (and lose the sale) so that I could revert my status.

As for where does the money go? It's called Float, and yes it's a multi-billion dollar "business".

    Bookmark   March 11, 2008 at 11:13PM
Thank you for reporting this comment. Undo
Chemocurl zn5b/6a Indiana

Well, I am happy to say the funds went into the account about 2 hours after I emailed them asking if it was lost and when it would be there.

herus,
So if I happen to rec in funds from an account that is funded by a credit card (and accept them) it will change my account. I had someone pay me some $ once, and paypal was going to deduct some money for doing it. I refused the payment...who wants to pay money to receive their money, unless they are selling a good bit on line?

As for where does the money go? It's called Float, and yes it's a multi-billion dollar "business".
Just out of curiosity, I'll try to remember to check just when the funds were taken from my bank account.

I will have to give PP credit...they did look around and find my $$$ fairly quickly after it was brought to their attention that it was lost.

    Bookmark   March 12, 2008 at 1:33AM
Thank you for reporting this comment. Undo
bmmalone

I don't use my paypal account very often. last year we had our credit card fraudulently used and the credit card company gave us a new account number. Tried to use the paypal account but it would only let me log in with the old account number (which i no longer have). called paypal, who were less than helpful. Said if i wanted to continue to use the service i would have to create a new account. Oh, well, i guess they are now one client less than before.

    Bookmark   March 12, 2008 at 7:11AM
Thank you for reporting this comment. Undo
herus

"So if I happen to rec in funds from an account that is funded by a credit card (and accept them) it will change my account. I had someone pay me some $ once, and paypal was going to deduct some money for doing it. I refused the payment...who wants to pay money to receive their money, unless they are selling a good bit on line?"

Yes, exactly. Looks like you went through that too. It's a real pain to tell my co-hobbyists that they cannot make me cc payments. When I pay them, even though not cc-based, many of them probably pay the fee because their own accounts have been "upgraded" at some point.

    Bookmark   March 12, 2008 at 10:19AM
Sign Up to comment
More Discussions
Buying a car
I am planning to buy a car, but my credit rating is...
HerscheLL
Home Loan advise? Remodel and Addition
I am looking into a renovation/remodel of my current...
allieundercover
Refinance with Bank of America taking F-O-R-E-V-E-R
We started the process for our refinance April 25th...
wickedgrace
Here's a question for those who pay with cash
It happens occasionally, I'll be in a checkout line...
SnidelyWhiplash
Accounting Question
I was hoping there'd be an accounting forum her on...
andrelaplume2
© 2015 Houzz Inc. Houzz® The new way to design your home™