ID:36282
 
So, the one time I actually -need- the funds I'm transfering to my paypal, it decided to fail for NO reason. I have the money in my bank, I waited the eight days, and it fails to enter my paypal.

Now, this doesn't bother me as much as the long distance phone support I refuse to use (I can't, I don't have a long distance plan), and the lack of reason behind the failure. I look at the details, and it won't even tell me whyy it failed, it just did.

I have to wait another eight days now =(
Paypal has never given me a problem ever. I could always send money to anyone I wanted, withdraw it to my bank account and naturally, put money into it.

All these problems everyone complains about, I've never had.
Perhaps the error is not PayPal's but your bank's? Maybe they declined the transfer for whatever reason? Account overdrawn (probably not the case), too many transactions this month (if it is a savings account, there is a limit of 6 electronic transfers per month, per federal regulations), etc... There could be a number of things...

Maybe they don't even allow it, period? Have you ever successfully done it before?
SuperSaiyanGokuX wrote:
Perhaps the error is not PayPal's but your bank's? Maybe they declined the transfer for whatever reason? Account overdrawn (probably not the case), too many transactions this month (if it is a savings account, there is a limit of 6 electronic transfers per month, per federal regulations), etc... There could be a number of things...

Maybe they don't even allow it, period? Have you ever successfully done it before?

SIX!?!? Wow! That's bogus! My Savings account can have as many as it desires, and my spending account can also have as many as it desires.

I wouldn't use a bank that limits how many times I could withdraw from my own accounts.
yes, I have done it in the past with no problems
Tiberath wrote:
SIX!?!? Wow! That's bogus! My Savings account can have as many as it desires, and my spending account can also have as many as it desires.

I wouldn't use a bank that limits how many times I could withdraw from my own accounts.

It's not even the bank's fault, this is a Federal regulation! (meaning it wouldn't matter what local bank we take our business to, they're all forced to comply with this)

Checking/debit accounts can have unlimited transactions, but savings accounts are limited to 6 electronic transactions (I believe the limit only applies to electronic transactions, like PayPal payments, automatic bill drafting, etc... you can still make as many "normal" withdrawls as you want)

The rationale is that savings accounts are designed to keep money in the banking system... They exist so people will fill these accounts up, and are encouraged by the inconvenience of this limit to leave the money sit there and give the banks enough guaranteed, on-hand funds to operate (this is also why savings accounts are generally higher rate than other types; it's incentive for people to keep high, untouched balances)...

http://www.congressionalfcu.org/checkingssavings/savings/ RegulationD.php

And in fact, part of this regulation also requires banks to give you a warning on the first offending month, and then close the account, or roll it into another type of account on a second offense...

DDSR wrote:
yes, I have done it in the past with no problems

Odd, then... But I wouldn't go shouting at PayPal just yet... I don't think they're as evil as so many seem to think...