Undelivered PayPal funds are the horror of any online provider. It may take a bit of waiting for completed fund transfers to reflect in your online bank statement.
There have been no untoward incidents though of money vanishing into thin air. In the event that the receiving party is unable to receive funds, these will be sent back to the sender's PayPal account -- albeit with a service charge of P250 (or its dollar equivalent).
In principle, it takes only 2 to 3 business days for PayPal funds to reach your Unionbank account. For the past 3 transactions though, I noticed that I had to wait longer and I had to write Unionbank a follow-up note in order to receive money...
I normally do not mind waiting. However, urgent financial obligations this week -- my Insular Life premiums are due -- compel me to take on an I-need-my-money-ASAP attitude. Below is a copy of my template letter to Unionbank using the on-site mailing facility of my EON cyber account:
Gentlemen:
I'd like to make a quick follow-up regarding the remittance amount of XXX (enter the exact amount here, as reflected in your PayPal dollar-to-peso conversion). The funds come from my PayPal account, which stated that the money had long been remitted.
The transfer was initiated on YYY (enter the date of your PayPal withdrawal request).
I still do not see the funds in my bank statement and appreciate your prompt action on the matter. Thank you.
Did the message work for me then? I believe so, since within 24 hours after sending the message, voila, I always got to see my much-awaited PayPal earnings appear in my bank statement! I'm going to employ exactly the same template when I e-mail the bank tomorrow.
Undelivered PayPal funds should not be a major problem. You can easily resolve the issue and get your funds fast by writing to Unionbank. Don't take my word for it though. Try communicating with Unionbank today and never have to wait for weeks again to liquefy your PayPal money.
