Paypal Refund On Temporary Hold

[Boozad]

I paid a fellow boardie on Friday for a book I'd agreed to take a couple of weeks ago. Due to personal issues he can't lay his hands on the book and issued me a full refund today.

 

But when I checked my Paypal account to see how much I needed to put towards another book I'm buying, I found the refund was on temporary hold. I looked at the transaction details and it had this message at the bottom:

 

Temporary Hold Information: This temporary hold was placed because your Direct Debit or Bank Funding payment was denied, cancelled, or refunded.The funds from this payment cannot be released until they have arrived from your bank account, which usually takes 7-9 working days.

Subject: You have sent £46.19 GBP to PayPal with PayPal

 

Anyone ever seen this before or have any idea what it means

[Boozad]

Thinking about it I may have figured it out. If the card you pay by is linked to your current account the money is not drawn from your account until a few days later, so maybe I haven't physically put the money into my Paypal account for the refund to be there - as theoretically i hadn't actually paid up yet.

 

So the money itself has got to catch up with the refund

[PokerKid]

I talk to myself too.

[Aces]

I talk to myself too.

 

Well shut your yap and quit interupting him so he can hear himself.

 

[Comicopolis]

Thinking about it I may have figured it out. If the card you pay by is linked to your current account the money is not drawn from your account until a few days later, so maybe I haven't physically put the money into my Paypal account for the refund to be there - as theoretically i hadn't actually paid up yet.

 

So the money itself has got to catch up with the refund

 

That's correct Gav, it's happened to me before. Because the money came from my bank account it took a few days for the refund to show up back into the account.

 

You know how banks like to hang onto customer's money in that void they call 'ripping us off for interest'.

[Bosco685]

It is typical to cover the funds transfer time that PayPal provides while the timing for a wire transfer to take place. PayPal does this so the seller doesn't have to wait, and you are not delayed in having your item mailed out.

 

If you are using a bank account linked to PayPal, it can take 3-5 days for the funds to clear as that is how long it takes for the funds to clear all banking systems, even though it is electronically transferred. So now PayPal has to provide a refund on funds that have not truly arrived yet, so they would be double out-of-pocket (what they had transferred already plus waiting for the final funding to come through).

 

Electronic payments can be a little tricky as even though it is governed by the NACHA organization, it still has influences from Visa, MasterCard, and the traditional bank systems.

[Bosco685]

You know how banks like to hang onto customer's money in that void they call 'ripping us off for interest'.

Well, yeah, there is that too which is where PayPal makes quite a bit of money. But bank funds transfers are batched out every 24-48 hours so as not to eat up the electronic network bandwidth. Then PayPal has to "process the payment" which is their float time to make some interest.

 

I worked electronic payments for 5 and a half years, and always heard about the money machine PayPal is.

[Boozad]

I talk to myself too.

 

Who were you telling, us or you?

[General Zod]

I talk to myself too.

 

Sometimes when I need to write a story, I do this too, as part of a brainstorming session. You never know when you need that good ol' mental fracturing...

[PokerKid]

I talk to myself too.

 

Sometimes when I need to write a story, I do this too, as part of a brainstorming session. You never know when you need that good ol' mental fracturing...

 

It's a great tool. But then sometimes during the discussion I start getting a bit personal or dig up something from my past that I agreed not to think about and take it too far, then I refuse to forgive myself and will ignore me for days.

 

 

[Boozad]

A response I wasn't expecting from an eBay company:

 

Thank you for taking the time to contact PayPal. My name is Anthony and I

am here to assist you.

 

I understand that you want to enquire why the refund is still on hold,

please accept my apologies for the inconvenience it may have caused you but do not worry I will do my best to sort this out for you.

 

I reviewed the account carefully to find out exactly what I can do to

clarify this matter. I am hoping my email response arrives just in time.

After checking your account, I can see that the refund initiated on the

22nd of March is on temporary hold by PayPal. We are waiting for your bank

to clear the funds requested before it will be credited to your PayPal

balance.

 

A refund or cancelled transactions funded by a bank account will be on

temporary hold by PayPal because request from your bank requires 7-9

working days clearing and unfortunately we can not stop whatever request

sent to your bank. When refund was made, money was not yet released from

your bank so we could not credit the amount to your PayPal account. You

need to wait 7-9 working days from the date transaction was initiated

before it is credited to your PayPal balance. We appreciate your

understanding on this matter. Rest assured that the refund will soon be

credited to your PayPal balance.

 

I hope that information helps. Please contact me if you encounter any

difficulty in respect to this issue or should you be in need of assistance

on your PayPal account.

 

Thank you for contacting PayPal. We appreciate your business with us.

 

I am always inclined to be of service to you should you deem it necessary.

 

Sincerely,

Anthony

 

PayPal European Services

PayPal, an eBay Company

[Comicopolis]

That's what I said, only more concise!

[Boozad]

That's what I said, only more concise!

 

Yeah, I'd gathered that was what it was too but couldn't be bothered to email them back. I was just surprised to get a response at all.

[Comicopolis]

You got the money yet then Gav?

[General Zod]

I talk to myself too.

 

Sometimes when I need to write a story, I do this too, as part of a brainstorming session. You never know when you need that good ol' mental fracturing...

 

It's a great tool. But then sometimes during the discussion I start getting a bit personal or dig up something from my past that I agreed not to think about and take it too far, then I refuse to forgive myself and will ignore me for days.

 

 

I wouldn't worry about that. Unless you get into cutting and gluing macaroni onto colored paper to "express your inner self"...