Venting about PayPal

I just had a scare.

Right now, being unemployed, every little bit of money counts.  $50 matters.  Checks being cashed in a timely manner matters.  I’m keeping EXTREME tabs on all my finances because, well, I have no other choice.

Well, I went to check my balance in checking account and my heart sank.  I was missing $200!  I had been PayPal-ed various sums amounting to $200 for some work I’ve been doing on the side and it said ‘completed’ next to transaction history for the transfer I made to my checking account.  But the money wasn’t there!

So I called up PayPal and asked where my money was.  Some guy, who I could barely understand, said “Ma’m, your money has been transfered to Federal Reserves and they are checking on it.  You should get your money by Friday”

Friday?!  WTF?!  So I asked him why it said ‘completed’ instead of ‘Pending’.  Because ‘Completed’ makes me think it’s, you know, COMPLETED.  He said it was completed on PayPal’s side.

And really, in this day and age of automatic everything, why does it take FIVE DAYS to transfer money.

I’m fit to be tied.

~ by fluvial on July 22, 2008.

5 Responses to “Venting about PayPal”

  1. So get this…

    I ordered a bee costume online, using pay pal. I know, a bee costume…weird…but its a long story.

    Anyway…bee costume never arrives. The seller had charged me immediately. I get various emails from the seller that its out of stock, if they don’t get it in two weeks they will refund, etc.

    I catch on and enter a dispute. The seller doesn’t reply to me, but gives paypal a bogus tracking number to xyz address in Seattle. Not mine. Just somewhere. Paypal sides with bogus seller, even after I called the shipping service to get the address to correspond with the bogus tracking number. I’m out $50. Lying seller wins paypal “investigation”

    Down with paypal indeed.

    and bee costumes!

  2. Yes, I’m going to avoid PayPal from now on.

    So umm..tell me about the bee costume! 🙂

  3. Yep, blame your bank. They’re the ones who hang onto your money, trying to pretend that they don’t know the split-second it arrives in your account so they can earn high interest for themselves on the short-term money market. (You get zip.)

    They call the delay all kinds of names. Clearance days, transaction period, etc. But it’s all B.S. (Bank Stories.)

  4. That makes so much sense John.

    Doesn’t make it any less irritating though. Are there any other options besides cash and check?

  5. I rely heavily on PayPal because all of my my clients are in Italy and it’s the easiest way on both our ends for them to pay me. (Much better than having to deal with an Italian bank if there is a problem with a transfer – I cringe at the thought). I do wish that it would take a shorter time when I move the funds to my checking account though! Would make life much easier. I have to hold off on paying rent until the money finishes getting moved. Good thing I live with the coolest guy in the world.

    I’ve heard of a similar service called moneybookers. I wonder if they are any better?

    Sucks about what happened though. 😦

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