After a few phone calls to PayPal (one on which I lost my temper and I apologize), I think I got the withdrawal process explained. So, as a personal/premier user, after you link your credit card and confirm it (you must have at least 1.5 EUR or the equal amount in your currency to be able to do the verifying process), as a new user, you have two time frames until the money will be in your account:
– bank account transfer, in which the money will be in your account in about 3-4 working days
– credit/debit card transfer, in which case you will have the money on your card in about 24 hours or up to 72 hours.
There is a period of time up to 72 hours in which your transaction (withdrawal) will be in pending and which has nothing to do with the period of times mentioned above. This means that PayPal hasn’t released the payment to be processed by your bank yet. As a new user myself, I can tell you that this will happen each time you make a withdraw, because there are some limits you are not aware about and you won’t find them in Terms and Conditions. First of all, to lift all your limits you have to:
- Have a Verified PayPal account.
- Have a PayPal account for 90 days.
- Have no open buyer complaints.
- Have had no limitations on your account in the last 30 days.
- Have received over $10,000 since opening your account.
This is an actual list I received in my email from PayPal. The first point can be solved by linking your card and/or uploading required documents on your PP account. The second one can be solved only by time, and during the first 90 days of your account’s life, you will have to wait a while until you will receive money. You can plan your withdrawals to match your needs, for example if you need money by Friday, you should withdraw on Sunday evening or Monday morning. The third point doesn’t apply since you are not a seller of goods, the fourth depends on your good behaviour and the last depends on your hard working or the way you make money. As a freelancer, it’s pretty hard to make 10k so fast (if anyone knows how though… let me know :P).
If it’s been more than 72 hours in which you can see your transaction in Pending, contact PayPal and ask if there is a problem with your account or with the payment.