Bank transfer - 1 business day or 3-5?

[kaylanb]

In the PayPal FAQ, it states that transfers from your PayPal account to your bank account usually occur in 1 business day. I just transfered an amount from my PayPal to my bank account and in the summary it says I should expect the money in my bank account in 3-5 business days. Is the 3-5 a personal estimate? Because of the weekend and holidays and such? Or does PayPal have conflicting estimates?

Thank you!

[sharpiemarker]

It varies, depending on your financial institution.

[kaylanb]

Okay. Also, do you know how long it will say pending? Is that until it gets depsited into my bank, or until its sent to my bank, or?

[DPCreations]

Figure on 3-5 business days for the funds to complete into your bank account.

[Whac-A-Mole]

1 day means Paypal's bank will send your transactions out to ACH in one day,it does not mean it will reach your bank/your account  in 1 day.

There are 4 levels of ACH,the fastest one could be within hours ,it is relatively new and banks are still considering whther to offer this feature to all bank holders or charge a fee for this service.

Paypal is not a bank,its bank where our money is kept send our transactions to ACH ,no different than you doing online banking and pay bills or send money t o someone in another bank.

paypal uses the slowest level which is free.

dont count on one day or 2 days,figure 3-4 days and then give your bank a day to allocate the fund to your account. 

[JessicaJoel]

So what ended up happening? I am so annoyed with this. I saw the one day and hit send...now it is sitting in pending status and saying 3 to 5 days. 

[kaylanb]

My first transaction took 3 business days to go from pending to complete but all of them after that have changed to completed a few hours after the 24 hour mark

[Whac-A-Mole]

depends on where OUr money is kept and what bank you are sending to.

[Whac-A-Mole]

I doubt PAYPAL keeps all our money in one bank and one account,it is spread among several banks.

just think if your PAYPAL money is kept at BAC and you want it transferred to your BAC account,how difficult is that?

[Jeffro2017]

What a rip off and deceptively adverstised scam PayPal is.  I can't wait for my transfer to come through and close my account on these crooks.