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Paypal withdrawl time

forgo

forgo

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Forgo Forgorth Lundain
Placed a withdrawal via Paypal today for a small portion of my latest hof to test it out and see the turnaround time on it.

So for those who are as curious as I am here it is.

Started
9/29/15
 
Buddy got his in 30 biz days iirc gl with withdrawal
 
i didnt even know it was possible to withdraw using paypal :)
 
as i know it avalible for ppl in us but you still need wait 50 bussines days to get money
 
Ouch, withdraw though paypal :( First MA takes their %, then paypal takes their % TWICE. You should have done bank withdraw, then you only pay the % to MA
 
And then more back to MA for boxes and ammo.. :)

Like I said I am curious to see the cut in the end.
So far Paypal deposits (webshop) are saving me a bit in fees I had paid with bank when I deposited more regularly, as they flagged international, Paypal does not.
So far its 100 ped($10) to take out via Paypal, regardless of the amount I think. No more fees anticipated but well see on Paypal end.
Bank withdrawals work great too, but there is still a similar cost from MA
 
e-lite said:
Ouch, withdraw though paypal :( First MA takes their %, then paypal takes their % TWICE. You should have done bank withdraw, then you only pay the % to MA
Click to expand...

what do u need to provide for that? eg like account number etc?
 
Good luck with the withdrawal, didnt actually know you could with paypal but nice to see they expanded to that option.
 
forgo said:
Placed a withdrawal via Paypal today for a small portion of my latest hof to test it out and see the turnaround time on it.

So for those who are as curious as I am here it is.

Started
9/29/15
Click to expand...
Are you still waiting?

I did mine around the same time,but old fashioned way through bank account and I have not seen anything as of yet.

:broke:
 
That was just over 2 weeks ago, you're going to have to wait at least 3 more.
 
Venture Bros said:
That was just over 2 weeks ago, you're going to have to wait at least 3 more.
Click to expand...

Thank You..:D
I'm wondering if I had done it through Paypal or the way I did,which would be faster for the next time.This is my first time making a withdrawl,so I had no idea what wait time would be.
 
Thorns Rose said:
Thank You..:D
I'm wondering if I had done it through Paypal or the way I did,which would be faster for the next time.This is my first time making a withdrawl,so I had no idea what wait time would be.
Click to expand...

No idea about paypal withdrawal times, it's why I am following this thread :)
Normal withdrawals are typically 40 days, you only should start to worry and start messaging them to remind them (they forget to pay people a lot) after 60 days. At least from what I've read here. Never made a withdrawal yet as those times don't appeal to me.
 
it 50 bussines days for evryone so that like 70 normal days :wise:
 
Still waiting?
Paypal withdrawals should be done in minutes I think.
I do alot of transfers paypal<->bank .
Cant understand why this is so time consuming....... :mad:
 
Blizzard, which ran a RCE for a while, allowed Paypal withdrawals that were processed in 1-2 days. I've experienced it myself.

It's certainly possible if you include it in the business model.

I believe allowing for faster withdrawals would generate more deposits for MA because people would feel WAY more confident about depositing, knowing they could get fast access to that money if they wanted to. Restricting access to your money by putting this 2 months withdrawal time is essentially making your money illiquid and worth less. There is a reason why PEDs are traded outside the game at cheaper rate than the 10:1 standard rate.
 
i did a paypal withdrawl on August 30th, and I still have not seen my funds :)

I dont think it is any faster then a bank withdrawl
 
Yeah PP withdrawal should take 0-2 days. MA is just using our money for extra two months again.
 
Mikass said:
Blizzard, which ran a RCE for a while, allowed Paypal withdrawals that were processed in 1-2 days. I've experienced it myself.

It's certainly possible if you include it in the business model.

I believe allowing for faster withdrawals would generate more deposits for MA because people would feel WAY more confident about depositing, knowing they could get fast access to that money if they wanted to. Restricting access to your money by putting this 2 months withdrawal time is essentially making your money illiquid and worth less. There is a reason why PEDs are traded outside the game at cheaper rate than the 10:1 standard rate.
Click to expand...

LoL. Yes, Blizzard did let. Because of that soon it was removed at all (if we talking about Diablo).


Virot said:
Yeah PP withdrawal should take 0-2 days. MA is just using our money for extra two months again.
Click to expand...

50 working days make it safe for MA. 0-2 days or any other short time is bad, it will make lot of "dirty" cash deposits to Entropia, trading to another account and then cashing out same day. Its for preventing from money laundering. Its the main thing why MA hold it for long.
 
I don't think you can make the comparison between Entropia and Blizzards attempt at an RCE, blizzard is for starters a much larger company and secondly there concept rellied on the fact that people would not build up funds within the game perpetually increasing liability as they did not allow players to hold more then $250's in there balance at anytime.

I don't think anyone would object to a shorter withdrawl time as long as it was a secure option to go for, i personally would love to see withdrawl times land at around 30days or so shorter then that and it starts to feel shacky in my opinion.

Cheers
Zweshi
 
Cerberis said:
LoL. Yes, Blizzard did let. Because of that soon it was removed at all (if we talking about Diablo).
Click to expand...

That was not the reason at all. You don't know what you're talking about. The reason was related to the Real Money Auction house being scapegoated for the all the gameplay shortcomings the game had, which were mostly unrelated to the auction house.

Their official answer.
 
Just to say as long credit card companies and paypal can cancel payments MA shouldnt reduce the withdrawal time. If all "back-outable" deposit ways are gone, then yes withdrawal could be much shorter. But i really cant imagine RCE where only way of depositing is bank transfer or prepaid cash cards.

I do not want to see EU becoming way for credit card thieves for cashing in these credit cards. (It is rather easy to buy stolen credit card numbers online , deposit and withdraw all the peds with another avatar, but as withdrawal process takes a while it is not done, as theres big chance that the scam will be noticed before payment is made)

Example:
You are carrot seller on market, someone approaches you with paper slip saying "Mr Rich Cashier" will redeem this slip for 50USD 50 minutes after being received by the vendor, unless the person this paper slip was first issued asks "Mr Rich Cashier" to refund him the money and to cancel the slip (The original owner doesnt need to hold this paper slip at this moment).
I doubt you would hand him over the carrots sooner than 50 minutes if he can take back the money from "Mr Rich Cashier" with next 50 minutes.

It is our money MA would be paying out to credit card thieves, dont ask them to do it.
 
@whiteknut

KYC and security issues are not the reason for the long withdrawal times.

MA was performing fast 2-3 working days withdrawals for ex-ATM cash card owners until not long ago. I have received fast 2-3 working days withdrawals a number of times and so have many others.

It's business model related.
 
Mikass said:
@whiteknut

KYC and security issues are not the reason for the long withdrawal times.

MA was performing fast 2-3 working days withdrawals for ex-ATM cash card owners until not long ago. I have received fast 2-3 working days withdrawals a number of times and so have many others.

It's business model related.
Click to expand...


https://account.entropiauniverse.com/support-faq/deposits-and-withdrawals/withdrawal-faq/

"The time frame between submission of a withdrawal request and payment is primarily due to the risk of chargebacks. The large majority of deposits are made via credit cards, while withdrawals are made directly to the account holder's bank account. Chargebacks can be submitted up to six months after deposit, but most frauds are discovered within two month. After 50 business days, the risk of chargebacks is minimal while giving MindArk time to perform internal security checks.
"


You were saying? I know about the ATM cards a while back, and when they were removed how ppl who owned them were on priority list etc... And wasnt the ATM withdrawal limited by some sum? But the fact is MA has stated the reasoning behind these 50 days and unless we have solid proof they are lying we shouldnt question it.
 
whiteknut said:
https://account.entropiauniverse.com/support-faq/deposits-and-withdrawals/withdrawal-faq/

"The time frame between submission of a withdrawal request and payment is primarily due to the risk of chargebacks. The large majority of deposits are made via credit cards, while withdrawals are made directly to the account holder's bank account. Chargebacks can be submitted up to six months after deposit, but most frauds are discovered within two month. After 50 business days, the risk of chargebacks is minimal while giving MindArk time to perform internal security checks.
"


You were saying? I know about the ATM cards a while back, and when they were removed how ppl who owned them were on priority list etc... And wasnt the ATM withdrawal limited by some sum? But the fact is MA has stated the reasoning behind these 50 days and unless we have solid proof they are lying we shouldnt question it.
Click to expand...

Use of the word primarily suggests there might be other reasons as well which were not mentioned.

Thing is, though, charge-backs are pretty hard for a customer to do unless the customer is paying with Paypal which is why MA didn't allow Paypal payments until recently. I don't think the % of debit/credit card charge-backs is significant. How come Blizzard found a way that worked well? They also allowed credit/debit card deposits. I am pretty sure they were aware of the charge-backs risk as well.

The max limit for ex cash card holders was $3k USD/month and it was processed in 3-4 working days.

Also, if the primary reason is debit/credit card deposit/withdrawal risk, why not allow all wire transferred deposits to be withdrawn faster? Offer a special incentive to all people that deposit via wire transfer to withdraw the money in 3-4 working days. There's zero risk for MA when it comes to wire transfers. They offer similar feature for Neteller deposits/withdrawals. You can withdraw via Neteller the amount deposited via Neteller or something like that. https://account.entropiauniverse.com/account/withdrawals/
 
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Mikass said:
Use of the word primarily suggests there might be other reasons as well which were not mentioned.

Thing is, though, charge-backs are pretty hard for a customer to do unless the customer is paying with Paypal which is why MA didn't allow Paypal payments until recently. I don't think the % of debit/credit card charge-backs is significant. How come Blizzard found a way that worked well? They also allowed credit/debit card deposits. I am pretty sure they were aware of the charge-backs risk as well.

The max limit for ex cash card holders was $3k USD/month and it was processed in 3-4 working days.

Also, if the primary reason is debit/credit card deposit/withdrawal risk, why not allow all wire transferred deposits to be withdrawn faster? Offer a special incentive to all people that deposit via wire transfer to withdraw the money in 3-4 working days. There's zero risk for MA when it comes to wire transfers. They offer similar feature for Neteller deposits/withdrawals. You can withdraw via Neteller the amount deposited via Neteller or something like that. https://account.entropiauniverse.com/account/withdrawals/
Click to expand...

Blizzard (no account could have more than 250usd worth of currency, so not attractive for credit card frauds)
3k usd is also not very big limit.

Problem with neteller etc is that you can withdraw peds not belonging to you (received via trade from maybe stolen credit card)..
 
@whiteknut

Not sure I follow the logic. You can already use Neteller as withdrawal option if you deposited same amount using Neteller.

If the withdrawal size is the issue, just limit the withdrawal size for Paypal withdrawals. This guy who made around $10k was withdrawing over $700/day at times and even more was possible. I am pretty sure many Entropia players would love to have the option to withdraw $700/day to Paypal and get it in 1-2 working days.
Zc4A6.png
 
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whiteknut, no point talking with Mikass, he know everything and his true is only one true. Comparing game that failed with real cash auction and EU that got working system for years and pay cash in time (most of cases) is stupid.

P.S. In Blizzard official post Mikass see only the reason that Blizzard told, however in MindArk post he see some "hiden" reasons. :laugh:
 
@cerberis

Even MA's phrasing suggests there are other reasons there as well:

The time frame between submission of a withdrawal request and payment is primarily due to the risk of chargebacks

I know the circumstances of the Real money auction house removal very well since I was very interested in that at the time and following the Blizzard forums. I'm not sure you were. I am also very familiar the Entropia deposit/withdrawal system.

The game didn't fail. It's still around and very successful. The Real Money Auction house was removed because some people thought it would fix the game mechanics. Lots of people whined that allowing people to buy Uber status is not cool and that eventually lead to its removal. It's very successful now because of other core gameplay changes that didn't have much to do with the real money auction house itself. The Auction house was a collateral victim of poor game design. It wasn't removed because Blizzard couldn't handle the RCE side of it.
 
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Mikass said:
@cerberis

Even MA's phrasing suggests there are other reasons there as well:

The time frame between submission of a withdrawal request and payment is primarily due to the risk of chargebacks

.
Click to expand...


They say PRIMARLY , but you said:
"@whiteknut

KYC and security issues are not the reason for the long withdrawal times. "

I think the Word PRIMARLY clearly indicates that you were wrong. Accept it and move on, no point in making wild guesses.
 
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