PayPal delays leave crowdfunding backers waiting for refunds
Refunds for backers of a recent project have faced unexpected delays. The first batch of payments was scheduled to go out this week but failed to arrive on time. PayPal's processing times have now pushed the refunds back to next week.
The creator behind the project confirmed that PayPal is holding the funds longer than usual. Normally, transfers from a German bank account to a PayPal account take one business day, with the money appearing by the end of the following day. This time, however, the delay has stretched beyond expectations.
According to the creator, PayPal is retaining the money to generate interest, slowing down the refund process. A small group of backers who responded quickly to an email request have already received their payments. The rest should see their refunds within the next two to three business days.
The creator now expects the majority of refunds to clear sometime next week. The holdup stems from PayPal's delayed transfer of funds from the creator's bank account to their PayPal balance.
Backers waiting for refunds will need to wait a little longer. The creator has assured them that payments will begin processing again soon. Once PayPal releases the funds, the remaining refunds should arrive within days.
