What if...

Discussion in 'General Chat' started by Nobbler, Aug 8, 2013.

  1. Nobbler

    Nobbler
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    Your wages were paid into your account on pay day and your bank placed a temporary hold on the money?
    You would naturally be a little peed off I think.So what gives PayPal the right to do it? I had some money refunded today and its been "placed"...it means I can't touch it until PayPal say so. His could take up to 28 days to hit my account and its MY money. I e-mailed them and got back some automated reply with a list of things that tell me nothing. The refunder (who is actually a rather large hifi store in Carlisle) are as peed as I am because it means they can't withdraw it and pay it direct to my account - so basically PayPal have my money and I can have it when it sees fit.
    Is that right? Can I do anything about it?
     
  2. Anthony-Howard

    Anthony-Howard
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    I think that you will find that if the sequence of events is as you described that it is a bank that has your money in one of its accounts rather than Paypal's bank having the money in Paypal's account.

    Such things are fairly common and are pretty much how the banking industry works. Don't let that get in the way of things though!

    Cheers,

    Tony.
     
  3. blue max

    blue max
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    I'm curious why a large hifi store is using paypal and the circumstances of the refund.

    It made me wonder.

    But whatever the circumstances, they must have a reason. I've spoken to them in the past and they have been pretty good to be fair.

    In this instance, the retailer needs to instigate the investigation as it's not your money, but theirs (until they release it). I think anyway.
     
  4. Nobbler

    Nobbler
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    It was a deposit I paid for something and then decided to pay the lot upfront - it was paid via PayPal in the first place.
    The most annoying thing is they just did it - no notification - I only found out when I logged on to send some money this evening.
     
    Last edited: Aug 8, 2013
  5. Anthony-Howard

    Anthony-Howard
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    I see no reason why they shouldn't use Paypal. It is an established online payments provider and perhaps even a payments services provider as well. Whether they are a good one is open to debate.

    I suspect that it is nothing more than a slow transfer between acquiring banks. The source bank has notified the destination bank of the transfer and the destination bank has marked this on the account. However the funds are still in the process of being transferred so the destination bank has yet to receive them and as such haven't yet credited the account. Once the destination bank have the funds, probably in a few days, they will deposit it into the account at which point the funds will be released ready for the op to use.

    Slow transfers can be for many reasons but I suspect that it is just cheaper in this case. In any case I doubt that there is really anything that a retailer would be able to do (I have heard of a few weird services with oddball merchant services from strange banks in which they might) as they have obviously already initiated the transfer for the account to have the notification placed on it. In this case I suspect that patience is a virtue.

    Cheers,

    Tony.
     
  6. blue max

    blue max
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    OK. Just surprised they accepted Paypal.

    I had something on hold, forget the reason now, but it cleared within twenty-four hours. Chances are it will be sorted soon.

    Hope so anyway.
     

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