Paypal Pipeline

[IdahoCopper]

In the last week or two I noticed that the Paypal pipeline got shorter. For many years, when withdrawing funds from Paypal and electronic transferring them to my bank, it required 2 days to appear in my bank account.

For the last two weeks it only takes one day. Make the transfer by 9pm MT and the funds are available the next day. Even withdrawals on Sunday afternoon now post to my bank by early Monday morning.

This is a structural change to the banking system. It increases the velocity of money. I think it is significant. Any comments?

[blackrabbit]

How much do they charge you to do that?

[IdahoCopper]

How much do they charge you to do that?

Its free. I usually txfr money out of PP when there is $200-$450 from my Beefjerky.com. I sometimes transfer out several times per day.

[aloneibreak]

In the last week or two I noticed that the Paypal pipeline got shorter. For many years, when withdrawing funds from Paypal and electronic transferring them to my bank, it required 2 days to appear in my bank account.

For the last two weeks it only takes one day. Make the transfer by 9pm MT and the funds are available the next day. Even withdrawals on Sunday afternoon now post to my bank by early Monday morning.

This is a structural change to the banking system. It increases the velocity of money. I think it is significant. Any comments?

that's interesting...

I transferred some out a couple weeks ago and thought it appeared in my bank account sooner

didn't really give it much thought

[smackvay]

I transferred 5500.00 the other day and it was available within 14 hours

[NHsorter]

That's cool. Sometimes companies just improve their services and there is no conspiracy.

[beauanderos]

Sometimes companies just improve their services.

I smell lawsuit resolution written all over this one. There have been numerous class actions against Paypal the last
few years regarding their practice of holding funds as long as 180 days arbitrarily. One reason I refuse to use them.

[NHsorter]

Sometimes companies just improve their services.

I smell lawsuit resolution written all over this one. There have been numerous class actions against Paypal the last
few years regarding their practice of holding funds as long as 180 days arbitrarily. One reason I refuse to use them.

That makes sense.

[IdahoCopper]

Sometimes companies just improve their services.

I smell lawsuit resolution written all over this one. There have been numerous class actions against Paypal the last
few years regarding their practice of holding funds as long as 180 days arbitrarily. One reason I refuse to use them.

They were only holding funds for that long in disputes, or where transactions looked like fraud. In the case of the normal course of business, it used to take 2 days to txfr to primary banks, and 3 or 4 days to txfr to lesser banks, like credit unions.

I used to have a merchant account for processing CCs, but PP and Google Checkout were just a bit cheaper, and a lot easier. Eventually I stopped using Google Checkout, Google is too much like the Borg.

[silverflake]

I noticed this too. I do online surveys through amazon (for pay) and am required to use paypal to transfer my cash. Hate paypal but it is lightning quick process now and I get my stacking money quicker! Take the little things when you can.

Keep stacking!

[IdahoCopper]

Yesterday at 8:57pm MT I started a Paypal transfer to my bank. At 6am this morning it was in the bank. Yesterday, I did 5 transfers ranging from $100 to $495. All arrived this morning.

I have noticed in the past that transfers of more than $500 take several extra days. I'm not sure if that is still the case, I always limit the max size to $495.

[Morsecode]

I must be special. They still take their sweet time with my money.

I transferred $200 last Sat afternoon, and it credited to my checking account late Wed.

I love how they use the "business days" excuse...like electronic transfers are affected in any way by what day of the week it is

[IdahoCopper]

I started another transfer at 9:54pm MT last night. It was not there this morning. The cutoff for next-day arrival must be 9:00pm.