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Topic # 195948 13-May-2016 08:10
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Lately when transferring money from my PayPal account to my New Zealand based bank account I have been receiving the transfers in under 48 hours, but yesterday I transferred money from PayPal mid-morning and it was in my bank account early evening!! Very impressive and far better than the 4 or 5 days it used to take.


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  Reply # 1551933 13-May-2016 08:45
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Most banks have gone to same day/hourly processing (not over night).  Maybe paypal has setup a local bank account and this could be why the speed has increased.  Otherwise our banks may also be processing funds from overseas hourly now.

 

 




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  Reply # 1552011 13-May-2016 10:16
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tripp:

 

Most banks have gone to same day/hourly processing (not over night).  Maybe paypal has setup a local bank account and this could be why the speed has increased.  Otherwise our banks may also be processing funds from overseas hourly now.

 

 

 

 

 

 

Yeah, I was wondering if that was the case. I was always suspicious of how long NZ banks were hold funds before depositing into accounts.


 
 
 
 


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  Reply # 1552194 13-May-2016 13:46
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keewee01:

 

tripp:

 

Most banks have gone to same day/hourly processing (not over night).  Maybe paypal has setup a local bank account and this could be why the speed has increased.  Otherwise our banks may also be processing funds from overseas hourly now.

 

 

 

 

 

 

Yeah, I was wondering if that was the case. I was always suspicious of how long NZ banks were hold funds before depositing into accounts.

 

 

It was a fraud/AML thing as far as I remember from when I worked at Westpac.


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  Reply # 1552196 13-May-2016 13:54
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PayPal transfer have been same day for a couple of months now - if you initiate the transfer before 8am then you might have the money available before 8pm.

 

To compare I use a BNZ ATM to deposit cash into my account (otherwise there's a fee if you walk into the branch) and the money wasn't available until two nights after - almost 72 hours later. May I remind you that was CASH, not cheque...





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  Reply # 1552198 13-May-2016 14:00
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freitasm:

 

PayPal transfer have been same day for a couple of months now - if you initiate the transfer before 8am then you might have the money available before 8pm.

 

To compare I use a BNZ ATM to deposit cash into my account (otherwise there's a fee if you walk into the branch) and the money wasn't available until two nights after - almost 72 hours later. May I remind you that was CASH, not cheque...

 

 

Good job, BNZ...!






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  Reply # 1552360 13-May-2016 19:56
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NETELLER is also fantastic, transferring a few hundred direct into my account overnight


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  Reply # 1552630 14-May-2016 15:19
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Transferred from Rabo to ANZ in the morning and was in my account by afternoon. Oh what a time to be alive!


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  Reply # 1553381 16-May-2016 07:52
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bmt:

 

Transferred from Rabo to ANZ in the morning and was in my account by afternoon. Oh what a time to be alive!

 

 

ANZ moved to real-time SBI about a month ago.

 

 


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  Reply # 1553447 16-May-2016 10:00
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freitasm:

PayPal transfer have been same day for a couple of months now - if you initiate the transfer before 8am then you might have the money available before 8pm.


To compare I use a BNZ ATM to deposit cash into my account (otherwise there's a fee if you walk into the branch) and the money wasn't available until two nights after - almost 72 hours later. May I remind you that was CASH, not cheque...



That's a shocker! I know with ASB their cash deposits via ATM are available instantaneously.



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  Reply # 1569545 10-Jun-2016 16:28
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freitasm:

 

PayPal transfer have been same day for a couple of months now - if you initiate the transfer before 8am then you might have the money available before 8pm.

 

To compare I use a BNZ ATM to deposit cash into my account (otherwise there's a fee if you walk into the branch) and the money wasn't available until two nights after - almost 72 hours later. May I remind you that was CASH, not cheque...

 

 

 

 

Well - you've been very lucky then, as your specific bank mut be releasing the funds to your account faster than other banks.

 

 

 

I've made quite a few transfers from PayPal to ANZ since Christmas (every couple of weeks) and that was the first one that was same day - all the rest were, as I had said, under 48 hours (usually around 36 hours).

 

I've made one to ANZ since that one and it was again overnight (36 hours), and I made one to ASB first thing yesterday morning and I am still waiting to see it appear in my account.

 

 

 

So the speed which it appears may well be bank related. Which bank are you with?


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