Paypal takes 2 days to setup the preapproved payments. However, I suspect TSC is required manually to inspect the accounts afterward. That's why the times it takes will vary.
During the online chat, the rep told me that it takes 3 business days to verify your account and 7 to 10 days to process items. Mine takes 5 days (3 business day + 2 days during weekend) to move the status from "Waiting Verification" to "Authorizing CC". After few hours, it changes to "To be shipped".
https://www.paypal.com/ca/webapps/mp...agreement-full
3.8 Preapproved Payments. A Preapproved Payment is a payment in which you authorize a Merchant to directly charge your Account on a one-time, regular, or sporadic basis. Preapproved Payments are sometimes called "subscriptions", "recurring payments”, “preauthorized transfers” or "automatic payments”. Within 2 Business Days of any Preapproved Payment made from your Account, you will receive a confirmation of this transaction by email.