Update on Paypal withdrawal problems

Here is an update on the issue regarding Paypal withdrawals that are still pending for quite some time now.

Paypal acknowledged the problem already.

We are aware that users in certain countries such as Malaysia, India, Indonesia and the Philippines, are currently unable to complete withdrawals to their Visa® credit, debit or prepaid cards. We are working diligently to resolve this as quickly as possible so that you can access your funds. We hope to have this resolved in the next 72 hours and will let you know once we have more updates.

So there is no problem on Unionbank’s side. Nevertheless, in my opinion, they should still make an official announcement regarding this issue. Some bloggers assumed (that includes me) that the problem lies in their system. Or probably relationship with Paypal. Most of the bloggers who got affected by this withdrawal problem are Unionbank EON cardholders.

Anyway, here is an email sent to Pam…

Due to a technical issue we have experienced starting on January 20, 2008 we have been unable to successfully withdraw funds to your credit card. As we work through resolving this issue you may experience one of the following scenarios:

* Pending status – if your withdrawal is ‘pending’ then we are still working to resolve the issue and complete your request. We are treating this issue with high priority and will update you as soon as it is resolved.
* Completed status – if your withdrawal is ‘completed’ then we have processed your request and the funds will post to your credit card in 5 to 7 days

You should not see any delays on future withdrawals.

We apologize for any inconvenience caused and we appreciate your business.

Yours sincerely,

PayPal

Apparently, there was a maintenance done on January 24-26 causing glitches in Paypal’s system. Some of those who had/are having a problem are now showing Completed in their withdrawal transactions. Good for them! My two withdrawals are still showing a Pending status. Hopefully Paypal will be able to sort this out soon. What’s important is that they have acknowledged the problem and is doing something about it as evidenced by those with their withdrawal transactions completed already.

I would also like to recommend to you guys to use the Withdraw to Bank Account instead of the Withdraw to Credit Card option. I tried withdrawing $100 yesterday and it is already completed as of this afternoon. Ganon kabilis! Hopefully it gets credited to my Unionbank account right away.

As you can see, withdrawing funds to your credit card takes 5 days. 2 days more to get it credited to your bank account. With the other option, it takes a day to get it processed within Paypal and hopefully, two more days to get it credited to my bank account.

Will let you know how long it took to get the funds credited.

Happy weekend everyone! May the following week will bring more luck and love to all of us