I just made a purchase on ebay (see a previous post on Philips Pronto NG remotes). Ebay and Paypal are part of the same corporate family and it is always amazing that corporations put in artificial barriers that slow things down.
I mean when we are talking money in 2007, it is primarily data so it is not unlike email. We send email instantly over the internet no matter the location. In fact, many times the respondent responds nearly instantly (almost like IM).
If we can do that, then why does a transfer of money from a bank account to a Paypal account take 5-7 days – especially when similar transfers have happened in the past and have validated the pathways, accounts and all the necessary data connections. After 3 days, we got a notice that the money was withdrawn from our bank account but it was not deposited to the Paypal account for another 2 days. This sounds like a scheme to earn micro interest instead of stream lining a system. Clearly efficiency is not part of the goals behind money transfers in the Paypal system.
I eventually got the money and was able to pay for my items but it seems like Paypal and perhaps all financial instituations (banks) are abusing technology because they don’t believe we can understand what they are doing. They are wrong!