I wish PayPal would break the myth and let buyers know.....
PayPal payments by eCheque are NOT instant.

PayPal funded payments from credit cards and PayPal funds should be instant.

PayPal payments funded from your bank account are called eCheque (some spell it eCheck, eChk, eChq).

An eCheque is PayPal's alternative to Australia's direct deposit / online banking.
(Without PayPal's involvement, Australian direct deposits normally process in 24 to 48hrs)

Although the buyer believes payment is made immediately with PayPal's eCheque, the seller has not received the funds. Quite the opposite. The seller has a payment pending notice only. PayPal instructs the seller to NOT ship until the payment has cleared.

PayPal eCheques....
...are NOT instant.
...generally take 4 to 10 days to clear.
...on occassion can take 3 weeks to clear.
...can be sent without you realising it if you don't pay attention.

Many websites discuss and warn of potential PayPal problems from fraud to simple misunderstandings. Eg. Check your shipping address before paying a seller. According to PayPal policies, a seller must send to a buyer's shipping address provided to them by PayPal. (Not the address shown on eBay).

Sellers can't change PayPal's (eCheque) policies and procedures.
Before ripping into a seller, give PayPal a call.

PayPal personal accounts: 02 8223 9500
PayPal premier/business accounts: 1800 073 263

I'm happy to help too if I can.
Please rate this guide to keep it alive, with thanks
baskerville2004