Why a single day to verify a bank account but 4-5 days to transfer

[CPORet]

why does it take a single day for paypal to send two small deposits, perform a single withdrawal of those two deposits to verify a bank account yet it takes 4-5 business days to transfer funds into that same verified account?

paypal customer service claims its all the banks problem.

what is the real reason?

[snowshoe]

Different processes.

[CPORet]

are they not both ACH processes?

[pcbfl]

A deposit is a deposit. Why do you say it is a different process. How is they different? 

Electronic Funds Transfers do not take 5-7 days unless you want them to in order realize the interest from holding those funds. I just remembered why I stopped utilizing paypal years ago. 

[CPORet]

Okay, I understand now.

I simply wanted to confirm the scam that paypal is using and to verify that paypal's customer service lies through their teeth to their customers.

Thank you to those that responded, and to those paypal "experts" and paid responders that did not your silence speaks volumes

[PayPal_Andy]

Hi CPORet -

You bring up a great question and I'm glad you've come here to the boards to ask it.  As we are a member-to-member community, every topic will not necessarily have a response by a PayPal employee.

To address your concerns, it is true that both our deposit and withdrawal processes are completed via the ACH process. However, the time frames associated with the direct debit and direct deposit process are slightly different.

The debit process typically has a waiting period built into it to make sure the funds are available for receipt by the requesting party (in this case PayPal when you're making a payment or adding money to PayPal). The request goes to your bank and they withhold the amount of the transaction, then they have to send the payment out with all of the others they've been collecting as part of the batch process, then it's typically held temporarily to make sure the money actually is available. That entire process takes 3-5 business days.

But when it comes to deposits, there is no waiting period tied into that. Quite honestly I've never heard of the deposits only taking one day, but they will typically arrive within 2-3 business days.  And of course these time frames are only estimates anyway; the actual times vary depending on when the batches are sent and received.

I hope that addresses your concerns. If not, feel free to let us know what other questions or concerns you have and I'm sure someone from our community will be happy to help!

- Andy

[CPORet]

sorry, your response is the EXACT same response spoken by your customer service representatives. its a mimic'd canned  response obviously distributed by paypal.

it also does not reflect the experience of many paypal customers.

it appears you are simply passing on the same tripe that paypal has been feeding their discontented customers.

additionally, you simply confirm that it takes different time frames for the same type of transaction, which i find rather incredible. does the computers used to complete ACH transactions somehow know the difference between the purpose of one ACH deposit over another? now thats a spooky software system...

then you attempt to pass blame to the banks, another constantly repeated refrain from paypal..."making sure the money is actually available"

thats like going to your bank teller and making a withdrawal but your teller says you have to come back in 4-5 days because they have to "make sure the money is actually available"

laughable.

why dont you simply admit that paypal earns "overnight" interest on all deposits made to paypal controlled accounts and intentionally waits as long as possible to transfer money as customers so designate. you stretch the limits of the law to your advantage by **bleep** your customers

customers would not be nearly as angry if you just were honest with them.

the way it is you have MILLIONS of customers that simply label you a scam, and will never return as customers or become one in the first place.

you have been sued hundreds of times, and you escape through subtrafuge and legal tricks to remain a "money transferrer" instead of a bank.

finally, you "completed" this thread by posting this canned response after it appeared that I would not return, as my last post indicates that i was satisfied and had no reason to return.

therefore, you risked no rebuttal.

an attempt at slightly defusing annoyed paypal users searching for explanations by again repeating the same old dribble you've been couched into posting.

they dont by it,

i don't either.

next time paypal asks me for a response to a customer survey, my charge is one thousand dollars, half up front in cash. my time costs money, and if you want assistance in running your pathetic business you can pay for it.