Is payment "timeliness" addressed in our work yet?

I don't recall seeing anything specific yet about basic timeliness of
web payments.

Here's an example. In the course of having some funds reimbursed to me
by a business via PayPal, I then transferred the money from my PayPal
account to my bank account. Once that transaction was processed via
the PayPal site, I recieved the following emaIl message:

---------- Forwarded message ----------
From: service@intl.paypal.com <service@intl.paypal.com>
Date: Tue, Jun 3, 2014 at 7:03 AM
Subject: We're transferring money to your bank
To: Joseph Potvin <jpotvin@opman.ca>

We're transferring money from PayPal to your bank
Jun 3, 2014 07:03:36 GMT-04:00
Hello Joseph Potvin,
You asked us to transfer $XXX.XX CAD from PayPal to your bank account,
and we're processing it now. It usually takes 3-5 business days for
transfers like this to go through, so you should see the money in your
bank account by Jun 10, 2014.
-----------------------------------------------

Huh?  3-5 business days?   But the ACH system clears at least every day.

Does anyone here know in which organization's hands the money sits for
3-5 days? And why?

Is this a delay due to some slow anti-launderiing verification
processes mandated by government?

Alternatively I can imagine there's a cloth bag tied with sisal
containing my $XXX.XX CAD being loaded onto a side-bag of a donkey,
getting ready to make the trek in this direction. I'm fine with that.
Just need to know though.

-- 
Joseph Potvin
Operations Manager | Gestionnaire des opérations
The Opman Company | La compagnie Opman
jpotvin@opman.ca
Mobile: 819-593-5983

Received on Tuesday, 3 June 2014 11:41:15 UTC