Why does it take so long for PayPal to transfer money?

>>get paid on my bank account

>>Transfer money to PayPal

>>Money takes 3 to 5 days to get the money to appear on my PayPal account

>>Money doesn't appear until after the 10th day

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get a debit card

>using paypal
Good goy!

I got a debit card from PayPal, that's why I want money on it to use it as a debit card.

What do you people use instead of PayPal? Can't people see all your bank details if you pay with debit directly?
Don't use my card often and just used PayPal because everyone recommends

> (OP) (You)
>>using paypal
>Good goy!

Oh and I suppose you know a better alternative to use than PayPal?

Use Paypal to pay with your debit card, but don't transfer money on your Paypal account.

This. If receiving payment, Paypal is the absolute last resort because it takes ages for Paypal funds to become actual money in your debit card account, and they might even take a cut from it for hurrr bank transfer fees

>
>Use Paypal to pay with your debit card, but don't transfer money on your Paypal account.

What if I want to put money on to PayPal to use as my frivolity spending money and use my debit jure debit card for necessities?

>
>This. If receiving payment, Paypal is the absolute last resort because it takes ages for Paypal funds to become actual money in your debit card account, and they might even take a cut from it for hurrr bank transfer fees

Then what alternative do you recommend?

this
I've never trusted them and don't understand how they became a standard

>not using cash
get off this board

>
>this
>I've never trusted them and don't understand how they became a standard

I just want to have a pseudo sort of second bank account to use as my frivolity spending money and my main bank debit card as my necessity money debit card.

isn't that the point of prepaid debit cards?

That's a thing?

Same reason bank transfers in some countries can take up to 24 hours
>take the money and apply it on short term investments during that time
Might sound like a minuscule amount, but now multiply it by millions of daily transactions.

>and they might even take a cut from it for hurrr bank transfer fees
never had this happen when transferring either way, only when sending or receiving from someone else
those are usually limited to $500 where I live, paypal is my only option if I want to buy something more expensive than that since I don't have a credit card either

second bank account?

Receive payment only through bank deposit to your account

If that's your idea of trying to save money, how about you use your debit card for frivolity spending money, and use cash for necessities

And then tuck your debit card under your closet full of underwear. So then, Most of the time when you think of impulsively buying shit you dont need, you wont feel like diving through your underwear for it.

tbf, if you actually use it a bit, like ebay and stuff, transfers start getting instant. Theres no technical reason why they (or banks) cant transfer immediately, but Fraud Prevention n shit - if they dont 'know you', you'll wait.

Xrp solves this
You can send 1,000,000 in 3 seconds
Transaction fee is under a dollar

>use us often or your transactions won't be handled in a timely manner
seems like a shitty business practice

emm.. not what I was saying really, just, there seems to ba turnover threshold or something (least, thinkso ? idk how it works exactly tbqh), after which you've reached, they assume you are 'trustworthy' and stop delaying shit needlessly. You can see it your way as well, but, 'instant' transfer with relatively new/unknown customers, you just asking to get Nigeria'd, you cant argue, there no ground for 'delay' at all.

but they have your information and can come after you the same as a bank would. banks don't delay shit like that. paypal is just using it as an excuse to sit on a temp pile of money they invest and earn interest on instead of letting you have it to if you wan invest and earn interest on. in the same way the music industry considers piracy theft, I consider this theft

It's not PayPal it's your bank. Bank transfers are insanely slow.

Imo I'd love to see a currency like nano be adopted. Instant transfers but projects like REQ have their place for sure too.

>get money from someone in my paypal
>try to buy stuff with it
>have to wait till the first of each month to use it from my card
>can't use it from paypal directly
>anything other than the first costs money to transfer from paypal to debit
3.. more... days...

I'd rather drag my balls through 2 miles of glass than use PayPal and its usurious pseudo-banking services ever again. Back when I used to run a small business though, I was pretty much forced to use it by my Burger and Canadian clients who couldn't into bank transfers like civilized human beings because apparently those are super difficult and super expensive in a 19th century banking system.

Go back to your containment board

Money withdrawals to my bank account take 2-3 work days.

>What do you people use instead of PayPal?

Here in The Netherlands we have a great system called iDeal, which is really just an easy way to wire money from your bank account to the shops account within seconds.

But for some international purchases I use PayPal.

>Can't people see all your bank details if you pay with debit directly?
They can see your account number and name, but that shouldn't matter.
It's not some insecure heap of shit like credit cards where knowing a number allows you to buy stuff.

Why not just get a credit card with no interest for a few years and use that?

This.

I can transfer money from my bank account to my PayPal account within seconds.
Paying with my PayPal account also takes seconds.

But sometimes it takes days or even a week (in case of China) for the shop to see the money I send them.

They work with your money during that time.

Next question.

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Banks will send and receive 1,000,000 in 3 seconds, banks customers though... They will have to wait 3 days like today or have pay for express for 1% of the amount of money transferred.

Did you know PayPals terms of service says that the balance on your PayPal is not money, but a fictional PayPal token and you merely see a translation of that token into your native currency?

Otherwise they wouldn't have gotten a banking licence that would have allowed them to work globally from Luxembourg and also freezing accounts wouldn't be possible for them. Banks aren't legally allowed to freeze your account. PayPal "is".

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It takes 3 to 5 days for any electronic transfer between banks, not just paypal.

I'm in Mexico and accept payments in USD, obviously I gotta turn it into MXN when withdrawing money to my bank account.

Is it better to accept USD, then convert when I'm doing the withdrawal, or let it convert into MXN when I receive the payment?

USD price goes up and down all the time

depends. In Europe you can send money in the morning and it's at the destination by lunchtime.

I don't think time is why Paypal makes you wait, my guess is that they want to hold the funds for one week to see if any clawback/fraud claims appear. I sure as hell wouldn't if I was accepting payments on the scale.

For me it normally only takes a few seconds.

Because ACH deposits are a bitch

SEPA Instant Credit Transfer is coming. My bank already offers me an option to do a SEPA payment within seconds.

In either case PayPal will fuck you just as hard with an arbitrary, pulled-out-of-the-ass exchange rate well below forex market. The greed of those bastards knows no limits.

I use a prepaid credit card instead linked to my paypal, no bullshit happens as you mentioned, funds taken directly but have to be deposited first.
Never had a single problem in years

He didn't answer to this, big surprise

I use Chime to receive money, and then send it over to a more secure/trusted bank.

They send money instantly almost.

They charge a commission for accepting a payment, and then they charge a commission for conversion to my currency.

So $40 USD ends up being $37.59 after that commission, and then their conversion to MXN is 18 MXN per USD, instead of 18.8 MXN like the current exchange rates are. So I end up with
676.6 MXN = $35.9 USD instead of 752 MXN from the original $40 USD
Basically a 10% cut goes to them for any payment.

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Negro open up a bank account in USD so you evade PP's exchange rates, pretty sure banks in your shit hole offer that if the ones in mine do.

ITT: people who don't realize that you can instantly transfer money to your bank account using PayPal for a flat 25 cent fee

yeah they're at every CVS and walmart in america

crypto

It feels like an absolute chore desu and I always feel I'll lose my entire life's saving (which is a whopping $600) in case someone breaks into my house.

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Technically, all of these fucking payments and transactions should be instant in this day and age, since everything is done online and processed through computer servers.

So what the fuck, bankers?

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They're using your money, duh. All that time "processing" your money means they're using it to pay for stuff including using other people's money to pay back the money they owe you. Pretty ingenious desu.

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unironically google pay. Debit fees are 0%, opposed to paypal's 2.9%

alot of it is fraud prevention

instant transfers would be abused by every brazilian to rip you off

It still doesn't explain why some people wait 10 fucking days to get their money. 2-3 days is more than enough to verify transaction problems, the rest can be explained by paypal using your money for other things and then returning it to you. Not technically stealing but it's annoying at best.