Automatic PayPal Withdrawls

deniser

Free Member
Jun 3, 2008
8,081
1,697
London
Wow, thanks for this post Openmind. I just logged into my very basic business account which I have hardly used over the past 3 years and found I had the option too! It is a daily settlement but you get the money 2-3 days later for free or faster for a £5 fee. There is a minimum transfer amount of £6 otherwise subject to a fee I think if I am reading it correctly. I am assuming you don't get charged this if there is nothing to transfer on a particular day?

Paypal has kept very quiet about this.....
 
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wizzard

Free Member
Oct 7, 2008
614
57
Interesting - the chap I spoke to was adamant that he had worked for Paypal for years, that it was def. not available!

He was refering to paypal.co.uk - I notice from your URL that your account is with paypal.com...

difference?

Alasdair

the link says paypal.com/uk

You are always redirected to that link. You can put in paypal.co.uk to get to the site, as soon as you go to login it redirects to the link I've put above.
 
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wizzard

Free Member
Oct 7, 2008
614
57
apologies - you are of course right - I need better glasses!

still curious though that the chap I spoke to was so adamant - and def. nothing on my account... mmm

must be people they like!

Alasdair

Maybe he needs re-training? :)

Edit: Just checked on my account, I don't have the settlement withdrawal paragraph below, maybe you need to enable something as Phil said?
 
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okay - looking into it a bit more (inc. looking at the developers' guide) it seems that this is only available for larger merchants...

Another addition is the Settlement Withdrawal feature, designed to allow high-volume merchants the ability to more efficiently reconcile daily payments and transfers.
instructions for use:

To use the Settlement and Reconciliation System, you must have a PayPal Business or Premier
account. You can access the feature from a number of entry points on the PayPal website,
including:
- Merchant Services tab. Click on the Business Resource Center link and then PayPal
Products. Select the Settlement and Reconciliation System.
- History subtab. Click the My Overview tab
- Download History page. Click the Settlement System link in the top right column
however the documentation is against the Web Payments Pro developer's section...
so, I would guess it is only available if you have that...
I have a verified business account and can confirm that when logged in - it is not in any of those places - in addition, if I look at the dev. guide page when logged in I am not show the dev. guide for this (presumably as not applicable?) but if I view Google's cache I see it...

so - not for everyone!

Alasdair
 
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deniser

Free Member
Jun 3, 2008
8,081
1,697
London
okay - looking into it a bit more (inc. looking at the developers' guide) it seems that this is only available for larger merchants...

instructions for use:

however the documentation is against the Web Payments Pro developer's section...
so, I would guess it is only available if you have that...
I have a verified business account and can confirm that when logged in - it is not in any of those places - in addition, if I look at the dev. guide page when logged in I am not show the dev. guide for this (presumably as not applicable?) but if I view Google's cache I see it...

so - not for everyone!

Alasdair

I am not a large merchant - although I probably was 3 years ago until I stopped using them.

Neither do I use Payments Pro, just the basic business account.

I suspect it has more to do with trust issues such as length of time operating account, amount of chargebacks, where the money is being paid into, verified and VAT registered business etc.
 
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sysops

Free Member
Feb 1, 2007
2,918
885
I suspect it has more to do with trust issues such as length of time operating account, amount of chargebacks, where the money is being paid into, verified and VAT registered business etc.

Well, I can't see a link in our account, and it still has a sensible amount of money going through it. I would guess that like all such features they are rolling it out to accounts in batches. This reduces support load.
 
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Optegris

Free Member
  • Business Listing
    Well I got this this morning:

    Dear Open Minded Solutions Limited,

    PayPal attempted to withdraw your 01/10/2011 end-of-day balance to your bank account. Unfortunately, it was not successful because your 01/10/2011 end-of-day balance was more than your balance at the time PayPal attempted withdrawal.

    If you send or withdraw money (including refunds and reversals) after your end-of-day balance and before PayPal attempts to withdraw funds from your account, there will be insufficient funds to withdraw. In these cases, PayPal will attempt to withdraw the ending balance of any balance that was not previously withdrawn, within the last seven days.

    Settlement Withdrawals will continue automatically on the next working day. If you use the Settlement File to reconcile amounts withdrawn with your transaction totals, then your Settlement Withdrawal amount will simply reflect the activity for all the Settlement Files back to the previous Settlement Withdrawal.


    Yours sincerely,
    PayPal

    Quite possibly the worlds most confusing email but what I think they are getting at is my PayPal balance as at 10th Jan. was too low to be automated. So it looks like it's working or trying to at least...
     
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    sysops

    Free Member
    Feb 1, 2007
    2,918
    885
    Well I got this this morning:



    Quite possibly the worlds most confusing email but what I think they are getting at is my PayPal balance as at 10th Jan. was too low to be automated. So it looks like it's working or trying to at least...


    I had exactly the same email. There's around £800 in the account.

    I read it 3 times, but it still makes no sense.
     
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    sysops

    Free Member
    Feb 1, 2007
    2,918
    885
    Right so maybe it was trying to withdraw £800 but because you had a pending withdrawal for £600 it couldn't do it?

    I'm guessing here because the email is so badly written ;)

    I'm just going to let the balance mount up over the next week to see if it actually does what it says on the tin...

    Oh, I see what you mean. It wouldn't have been hard for them to code the auto withdrawal mechanism so that it only used cleared balance.
     
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    sally_b

    Free Member
    Oct 26, 2008
    79
    7
    Birmingham
    Thanks openmind for pointing this out and to sysops for letting me know where to find the link. I haven't set this up yet as I'm too chikcen to try it. Does anyone know if you can set it up but still manually withdraw aswell if you get a lot of payments in and your balance builds up?
     
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