I just used Paypal today for the first time in ages. If gave me the option to withdraw the funds to either my card or bank account. I’m pretty sure the card option wasn’t there last time I used it so thought I’d give it a go…
The money was in my Monzo account within seconds. I don’t have my Monzo bank account linked to Paypal, just my Monzo debit card.
It shows up on my feed as PAYPAL* [SURNAME] [FIRST NAME] Luxembourg LUX.
How do they do that?
I don’t understand the question. How do they do what? Credit your card, set the feed value?
Sorry, I didn’t phrase that very well did I!
How do they instantly get the funds from PayPal to my Monzo account, using my debit card?
I’d imagine it’s the same process as debiting your card, which is also instant, but just in reverse order. There’s no real reason for that to take a long time that I can see, provided the money was marked as “cleared” in your PayPal account…?
You’re probably right. I’ve just never seen a credit/refund to a card processed so quickly!
Hopefully this will become the norm.
Let us hope. I have been left waiting for well over a week for a credit before (this was from a high street retailer)!
Same as PayPal withdrawals it’s instant
Monzo is fast
PayPal is fast
Combine the two and it’s instant
Normally refunds are sent in clearing cycles so I’m not sure how it’s instant, but there seems to be services that do it ,
https://sea.mastercard.com/en-region-sea/issuers/products-and-solutions/mastercardsend.html
well i think mastercard and visa have faster payments now to your card without your account number, as i used that the other day at ladbrokes after a win from a free bet £12 not a fortune so you know😂 when i chose the option to withdraw by visa i saw there’s was option came up saying good news your card qualify for visa faster payment up to 2K and would receive the money within 4hrs
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