Paypal – Add funds via online banking
In the first week of June, Paypal added a new method of adding funds to your Paypal account – via online banking.
Previously, the only method is to load funds via your direct debit setup which has a processing time of 5-7 working days (although on many occasions ends up taking 9-12 days).
This new method of adding funds, via online baking, lowers this time to 1-3 days. What an improvement!
Unfortunately the feature was disabled a week later due to technical issues. The funds were taken from peoples bank account and reached Paypal, but Paypal were unable to trace the payments correctly and assign them to the correct accounts. They officially said that they’d return the payments within 10 days if they couldn’t work out whose account the funds should be accredited to. However, as in our case, 15 days passed and they hadn’t returned the funds to our bank account. I imagine they’ve earnt quite a bit of interest on all those payments sitting in limbo.
What would have been nice is if Paypal had contacted us to let us know there was a problem, rather than leaving us waiting and wondering when the funds would show up in the Paypal account. It was only because we called them that we found out about the problem.