Here is a link to the PayPal user agreement if this helps.
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I have been selling on eBay for several years now so I don't recall if there were any restrictions on me getting my money at first, but as of now, the money is in my PayPal account very quickly...... (often less than 24 hours). I can then transfer it to my bank account or make purchases against the PayPal balance at places that accept PayPal payments.