PAYPAL SECURITY HOLD ON TRANSFER/WITHDRAWAL
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Yesterday I added my new debit card to my PayPal account and verified my ACH transfers with the same bank the debit card is with. I then requested PayPal to transfer my $50 balance from my PayPal wallet to my debit card and paid the $0.25 fee to have it transferred within 30 minutes. As soon as I clicked complete PayPal notified me that my transfer is under review via email saying - "For security reasons, we need a bit more time to review your transfer request. This process can take up to 24 hours. If it passes our review, we'll release it and then the regular withdrawal timeframe (about 30 mins) will then take effect. We'll email you as soon as we have an update." (No further emails since they've sent this one...)
Is there any way I can help resolve this issue and receive my money? I also have an additional $45 that I want to transfer to my debit card. If I try to transfer that to my debit card now will that also get bumped into a security review since the 1st one is still under review? Anyone have any idea how long this is going to take? So far I've been disappointed with how long every transaction I try to do on PayPal takes! It used to be instantaniously for mostly everything but lately all my transactions hit a dang block of some sort. It makes me look into other services moving forward.I called PayPal and waited on hold for 30 minutes to see if I personally talked to an agent maybe they can help verify that it is my personal debit card and I requested the transfer so there is no need to place a hold on my money for security reasons. The agent told me there's nothing I can do and that it can actually take up to 72 hours(!!) to resolve through their system.
edit - tried to transfer my remaining $45 and same thing happened. ANOTHER security hold. Called paypal again and they could not give me any answers they act completely clueless! Tried to blame it on my bank and this time told me it may take DAYS to get my money. Made ZERO sense with what she was saying. I called my bank and everything is gravy on their end. This is all paypal being shady af. Unhelpful. Stupid. Unintuative.
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I got about 1.7k USD pending with them since 2 days now. They tell me that it is because of ACH or because I manually withdrew or twenty other reasons they have for this purpose. Pending hasn't turned to completed yet. Before that, there was another 3-day hold. I was banking on this money. If this doesn't come, it is a loss I cannot take and I have a family to feed. This is getting ridiculous.
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Welcome to the mob company of the internet: Paypal. I will probably never use them again after this horrible experience where i transferred 625$ to my paypal account because it was in the negative (since THEY advised me to 'add funds') only to have them hold that money for a week YET STILL they take out MORE money from my bank for that negative balance because they dont want to wait the week themselves! This is criminal.
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Okay so I thought it was me but I can tell what Paypal are doing here.
When you do a normal payment the other person is charged a transaction fee. E.G £500 transfer from me and the recipient is charged £17 transaction fee.
When you transfer via Friends and Family Paypal deliberately freeze the money and send you a security message and this is by no means a random security check.
Why are they doing this? because holding funds from millions of customers in a bank account generates them a nice pot of interest at our inconvenience!
This is shady business on behalf of Paypal.
Western Union do the same thing (hold funds for days)
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