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  • Casual Articles - Why Paypal’s Instant Bank Transfer Option Can Cost Your Business Money

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    just say you sell watches on eBay, and you wake up one morning to find that someone has bought an expensive watch for ?120, you check your Paypal account to s
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    If you’re an online business who uses Paypal as their third party payment processor, there is a danger lurking which could cost you dearly. Know as instant bank transfer, this option lets buyers withdraw money direct from their bank account, to pay for goods or services they have bought. According to Paypal, it’s exactly what it says, “instant”, but beware, because it’s far from instant! It takes Paypal around 3 -5 working days to take the money from buyers accounts, and if you have sent the goods or delivered the service, and there is not enough money to fund that transaction, your going to be left in the cold.

    Let’s just say you sell watches on eBay, and you wake up one morning to find that someone has bought an expensive watch for ?120, you check your Paypal account to se

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    nk transfer, this option lets buyers withdraw money direct from their bank account, to pay for goods or services they have bought. According to Paypal, it’s exactly what it says, “instant”, but beware, because it’s far from instant! It takes Paypal around 3 -5 working days to take the money from buyers accounts, and if you have sent the goods or delivered the service, and there is not enough money to fund that transaction, your going to be left in the cold.

    Let’s just say you sell watches on eBay, and you wake up one morning to find that someone has bought an expensive watch for ?120, you check your Paypal account to s

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    xactly what it says, “instant”, but beware, because it’s far from instant! It takes Paypal around 3 -5 working days to take the money from buyers accounts, and if you have sent the goods or delivered the service, and there is not enough money to fund that transaction, your going to be left in the cold.

    Let’s just say you sell watches on eBay, and you wake up one morning to find that someone has bought an expensive watch for ?120, you check your Paypal account to s

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    d if you have sent the goods or delivered the service, and there is not enough money to fund that transaction, your going to be left in the cold.

    Let’s just say you sell watches on eBay, and you wake up one morning to find that someone has bought an expensive watch for ?120, you check your Paypal account to s

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    just say you sell watches on eBay, and you wake up one morning to find that someone has bought an expensive watch for ?120, you check your Paypal account to see the money has been put into it, and there it is, clear as day “Payment Completed”.

    Great! You think, and post the watch off that day recorded delivery. The watch has been delivered, payment is in your Paypal account, and both buyer and seller exchange good feedback. Six days later, you log into Paypal to find that ?120 has been removed from your account; you contact Paypal to find out that when the transaction did finally go through, the buyer didn’t have enough money in their bank to cover the transfer! What was supposed to be instant has taken around six days, you’ve sent the goods off, and are now out of pocket

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