PayPal Adds Next-Day Settlement for Funds-Transfers in Pilot Program (July 8, 2014)
PayPal is slashing the time needed for businesses to receive PayPal funds in their bank accounts. In a pilot program beginning this month, PayPal is introducing next-day settlement for eligible businesses, so funds transferred from PayPal to a bank account will arrive within 24 business hours instead of three to four business days. Funds must be transferred from PayPal to a bank account by 5 p.m. to be available the next day, PayPal explains in its community forum. PayPal has notified certain businesses they may opt in to the new program and promises “more to come” for all users in its next-day settlement offerings.
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