First National Bank
Time to process paypal payments

Good morning, I have requested a withdrawal from Paypal towards my FNB cheque account after I have linked the two. I phoned the FNB paypal helpline and they informed me that it takes 8 work days for the funds to reflect in my account. [REF: ENQUIRY: E013C003D0 (Transaction ID: 1XC58141DG6793530)]. After I have read some forums on the topic it were clear that FNB receives the funds immediately but apparently the transaction needs to go through 6 departments before it can be finalized. Why is the funds immediately available for someone with a foreign ban account when they withdraw funds from Paypal, but with FNB it takes 8 days?? I were considering to accept this payment method for business purposes, but unfortunately it is not even more something to consider due to the huge waiting period - furthermore there is a fee charge (which is fine), but to wait 8 days for funds to reflect and keep clients on hold, will not be an option. For this incident the money were a gift (person owing me money), but I doubt I will ever want to make use of this service if FNB is not going to speed up the process for future purposes.

Company: First National Bank
Country: South Africa
City: Paypal

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