At 04:29 PM -0500 09/29/2005, <[EMAIL PROTECTED]> wrote:
I've used PayPal for 2-3 years as an eBay buyer but just recently started using it for selling as I clean out closet after closet. I've had no problems so far but it takes 3-4 business days for the money to go from my PayPal account to my bank account. My theory is they do that to everybody on purpose to make a ton on interest. Electronic money transfers these days take microseconds so the only explanation is that they have an account which contains tens of millions of dollars to be transferred - or more - that collects interest for several days before the transfer actually happens.
Transferring funds from Paypal to your bank account is batched thru the interbank system (ACH) every four hours or so. Because of fed involvement, the transaction takes two days. Any additional time is accounting lag by your bank.
I recommend getting Paypal's debit Mastercard. Just use it when you shop. Totally avoids the ACH delay, and you get 1.something% cash back!
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