Why do PayPal transfers arrive the next working day at around 10:00AM?

[horizonverizon]

I don't know if this is generally across the board but if I receive money in my PayPal account on a Tuesday at 17:00PM and I choose to transfer it to my Irish bank account, the money will arrive on Wednesday at around 10:00-10:10AM.

What is the reason for this? Why is not instant?

 

[Paul M.]

The standard SEPA bank transfer takes a while because transfers are processed in batches. Typically, these may be submitted by the payer's bank for clearing only a couple of times during each business day. Hence why transfers from Paypal to your bank end up taking overnight a lot of the time.

SEPA instant handles transactions differently, with nearly instant clearing and settlement, but Irish banks largely haven't signed up to it yet.