Poor service from PayPal

On Sunday 3rd October I logged on to PayPal and withdrew some money, transferring it to my bank account. It was a small sum, but I needed the cash. The money was instantly removed from my PayPal account, but it did not appear in my bank account until 7th October. Where was my money between 3rd and 7th October? It wasn't in my PayPal account and it wasn't in my bank account. This would be understandable 20 or 30 years ago when everything was done by hand, but in 2010 all transactions are carried out by computers and are pretty much instantaneous. The only reason I can think of why my money disappears for four days is because PayPal puts a countdown timer on the transaction. It takes the money off you straight away and it goes into PayPal's bank account. The company can then do whatever it likes with it for free, including investing it and earning interest, and then when the countdown timer reaches zero, it carries out the transaction and passes the money on. This is poor service and we shouldn't stand for it. Every time PayPal takes several days to transfer money to your bank account you should write an email and complain.


My bank used to be slow and like PayPal it took several days to transfer money from one account to another. It's sharpened up its act and it now does it in two hours. It's not instantaneous, but two hours is OK. Several days is not! If enough of us complain about this shoddy business practice from PayPal we might get the company to improve its service. Sitting back and accepting it will not. Write that email, after all, it's your money that PayPal is grabbing and the company is preventing you from accessing it. Why should this be allowed?