Registered: Jul 2001
Location: Kansas City, MO
Originally posted by gtrogue
Why don't you do an instant payment? If your Paypal balance is zero and you make a payment it will immediately pull the money from your bank account and send it. I never keep money in my Paypal account and it's never stopped me from making payments.
Actually, it isn't instant. ACH debits and credits are remarkably low-tech. At the bank I used to work for, there was a machine that dialed into the fed twice a day to download the latest ACH batch. That was transferred over to our system, which processed them. The problem is NSF ACH debits. The system might not kick out the NSF until the nightly update, when transactions were hard posted, so it could take a few days for it to trickle back through the system.
When you do an instant transfer on Paypal, it uses your credit card as the backup funds source. It runs a preauth on the card to make sure there is enough funds on the card to cover the transaction. If there is, it starts the ACH debit process and clears the transaction. Should the debit come back NSF, Paypal would charge the credit card instead.
The reason transferring funds takes 3-4 business days is because Paypal can't use a credit card as an alternate funds source, since that would be considered a cash advance.
Walk down to the railroad track and ride a rusty train
With a million other faces I shoot through the city veins
Goodbye, goodbye, goodbye old friend
You wanted to be free
And somewhere beyond the bitter end is where I wanna be
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