Automatic PayPal Withdrawls

[mikerr]

This is a great feature - but after using it for a while I've turned it off.
Would be better if it had an auto payment after 7 days, or always leave £ xxx and withdraw the rest.

Why?

I use virtual terminal (paypal pro) and I can buy stock with paypal funds which are accessible immedaetely someone pays
- much better than a traditional merchant account in that respect.

 

[andygambles]

Aye, as mentioned above, it looks like this is a gradual roll out...

This has been available for years. The reasons i do not use it is i pay suppliers from PayPal and withdraw to us and UK bank accounts. Making withdrawals once a week rather than daily also cuts down on bank charges .

But it can be a handy feature.

 

[Click2Post.co.uk]

I don't know if anybody else has experienced this, but PayPal leave money in most of the time for me, for example today I had £900 balance and it's automatically withdrew £500, I think it only withdraws funds which are 24 hours old? Because I'm always left with a days takings after they withdraw.

 

[andygambles]

I don't know if anybody else has experienced this, but PayPal leave money in most of the time for me, for example today I had £900 balance and it's automatically withdrew £500, I think it only withdraws funds which are 24 hours old? Because I'm always left with a days takings after they withdraw.

That is what happens. You also get an automatic reconciliation report generated which will show you your sales and the withdrawal.

 

[Optegris]

This has been available for years. The reasons i do not use it is i pay suppliers from PayPal and withdraw to us and UK bank accounts. Making withdrawals once a week rather than daily also cuts down on bank charges .

But it can be a handy feature.

Aye except my bank tariff doesn't charge for electronic deposits