Payment status "Completed", but money still hasn't been transferred from my checking account?

[mikey304]

Anyone know why this is? The money (instant transfer) was not taken out of my checking accout and there are no holds from Paypal, although the Payment status is shown as "Completed". 

Thanks!

[PayPal_Frank]

Hi mikey304,

Welcome to the community!

I'd guess that the funds are showing now on your bank.  Instant Transfers are when PayPal immediately pays a seller but the US bank transfer doesn't reimburse us for the payment for up to 3-4 business days.  So the money going to the seller is "completed" but the bank transfer is still processing in our system.

It can also take a business day before the transfer would appear on the bank account.  As you posted on Sunday, I'd guess that the payment was initiated over the weekend and the charge didn't appear until Monday November 7th.

I hope this helps! 🙂

- Frank

[Echegaray2010]

Hi,

If it has been more than 4 bussiness days, should I contact paypal or my bank?

Also, I buy stuff through ebay, is there a way to make the default payment NOT instant trasnfer? 

I want the money to be taken right out of my account. It makes it much easier for me.

I have been able to change it, so that it takes it right out of my account, but I'd like it to be the default payment.

[PayPal_Frank]

Hi Echegaray2010,

Welcome to the community! 🙂

I'm going to guess that you have the same issue described by the original poster.  If you've made a PayPal payment that was funded with your US bank account, I would contact PayPal Customer Solutions if:

-  It's been more than 4 business days (not including holidays or weekends) since the payment was initiated and

- The payment is not showing on your bank account.

My guess would be that the increased payment volume of the holiday season plus the holidays may cause delays in processing with both your bank and PayPal.

You won't be able to remove Instant Transfer from bank as the default option but you'll have the option to switch the payment method at the time of checkout.

I hope this helps! 🙂

- Frank