On Wednesday I transferred £200 (£192 after Paypal’s cut) from my father’s bank account (my father doesn’t have a computer so I transferred it for him) into my bank account and the Paypal system said it needed to verify the transfer and it would clear within 24 hours. It’s now almost 48 hours later and it still hasn’t cleared. Normally this wouldn’t be a problem, but I made an eBay purchase based upon the funds that I thought that I had available in my Paypal account. Instead the money for the purchase was taken directly from my bank account, and at the time of purchase there wasn’t enough funds to cover the purchase in my account. I realised that the purchase payment came out from my account immediately; so transferred some money from savings to cover the purchase. Now I just have to hope that we don’t get hit with a $32 penalty from the bank.
I called Paypal immediately to query why the payment is taking so long to clear and they informed me that because of the currency conversion, GBP to USD; it would take 48 hours instead of the 24 hours indicated by their automated website system, let’s say that I’m not impressed with Paypal!