Pay Pal and playing with our dosh

  jack 15:29 14 Feb 06
Locked

So Pay Pal take the dosh
How long can it be before it 'arrives' at the vendor?
I appreciate it is not electronically instant
They keep it a while presumably to earn some interest for themselves to pay for the operation - as do regular banks.
Having accepted and issued a receipt last Thursday 9th and assuming that this is not counted as a 'day' as weekend days are not included- how many days before the it pops up until the vendors account do you think?

  kev d 15:43 14 Feb 06

hold onto payments in order to make interest. The cost of supporting such a process would far outweigh the benefit derived from a couple of days of interest.

  Chegs ®™ 16:02 14 Feb 06

I've found PayPal to be erratic over payments,I've had the cash gone to the seller the next day and have also had the cash go several days after the supposed date.

  spuds 16:51 14 Feb 06

One thing that I would suggest,when the monies in your account, remove it as soon as possible. PayPal may claw it back otherwise!.

  jack 17:14 14 Feb 06

Well thanx for the responses
Chegs was the only one that addressed the question, and was here no clear cut answer. Erratic would seem to be a good way of describing it.

Kev d
The fact that a an insitution has taken monies and is in its pot for a time -makes the capital available for its operations- thats how they work.

Spuds
I have sent it out not getting it in

  kev d 17:21 14 Feb 06

'placed' (i.e. invested or lent out) in order to make interest. Payments while in transit do not earn interest. At best idle funds help to avoid or reduce overdrawn accounts. Banks make money by lending to others at higher interest rates than they pay to investors. Therefore the capital has to be used to make money - funds in transit do not make money.

  Big Elf 20:44 14 Feb 06

Is this relevant click here

  jack 12:13 15 Feb 06

Thank you for the link very revealing piece puts the lie to Kev d protestations - unless he knows for sure.
Mean while this morning E-mail delivered up a
'No Progress' report from my vendor - now in the fourth day.

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