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stuffbuyeruk
Community Member
Posts: 993
Registered: ‎18-12-2012

The curious case of the Temporary Hold - Paypal

26th November 2013:

 

05:54am GMT - payment of £11.49 to seller via Paypal.

 

05:54am GMT - Add funds from Bank Account £11.49

 

Read message from seller saying his Paypal a/c is **bleeped** up and everything is being held up, can I send a cheque instead.

 

14:37pm GMT - Cancelled payment of £11.49

 

14:37pm GMT - Temporary Hold, PayPal has placed a temporary hold while we're reviewing it. We'll contact you shortly with further information. Subject: You have sent £11.49 GBP to PayPal with PayPal.

 

02nd December 2013:

 

20:47pm - Still holding...

 

 

My question:

 

What exactly is 'on hold'? I uploaded money to my account, which didn't go anywhere, as it's destination was refusing to accept it, and was cancelled within a few hours of the initial request, so... there's nowhere for it to be held up? It's a cancelled amount from a transaction which rejected it anyway.

 

Does it take Paypal a week to grab money from my bank account? Nope, my bank is normally debited a day or two after a purchase.

 

So my money that hasn't gone anywhere is being held 'nowhere'?

 

I've had the item, the seller's had my cheque - jeez, I do hope my cheque doesn't get cashed before the electronic system can process 'nowhere' money... what an embarassment for the 'digital revolution'...

Please use plain text.
norseway53
Community Member
Posts: 21,484
Registered: ‎28-10-2006

Re: The curious case of the Temporary Hold - Paypal

in reply to stuffbuyeruk

Although the payment and cancellation are treated as 'instant' it apparently takes up to 7 days to get the funds cleared.  The 'instant' payment is rather like a temporary load if you like.

 

I have no idea why it should take so long to transfer money back and forth between Paypal and bank but it does.

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I bid, I win, I pay - you deliver
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stuffbuyeruk
Community Member
Posts: 993
Registered: ‎18-12-2012

Re: The curious case of the Temporary Hold - Paypal

[ Edited ]
in reply to norseway53

norseway53 wrote:

 

I have no idea why it should take so long to transfer money back and forth between Paypal and bank but it does.


But my bank is no longer involved apparently...

 

"Subject: You have sent £11.49 GBP to PayPal with PayPal."

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