PayPal has malfunctioned, making it impossible for users to access their money.

According to the company's status page, it was experiencing "a system issue" that hampered the usage of PayPal's express checkout feature and the ability to withdraw money, among other features.

“Our technical teams are actively working towards resolving the issue,” it wrote in the statement.

The problems were also affecting PayPal’s crypto offering and the Xoom and Venmo apps that can be used to send money online.

Other parts of PayPal – such as Zettle, the small card machines that are used by many traders to make sales – were working as expected, the page indicated.

Tracking website Down Detector registered a huge spike in the number of people reporting problems around midday UK time on Thursday.