Iphone apple order, status? And paypal payment?

I've ordered a phone on apple which was £699 a couple minutes ago. It says on my paypal pending but apple has given me an email saying its being processed and due to arrive tomorrow. I don't actually have £699 in my paypal or bank until friday. I just tried it and it worked instead of declining. Its done it before but just gone into minus funds on my paypal until money has been put into it. Will i still receive my item tomorrow or not?

As long as your PayPal account is debited to Apple then yes, but if PayPal reject it due to insufficient funds then Apple will automatically put your order in hold and contact you.

Well, has the money been deducted from your PayPal? Do you have a bank account or credit card added to your PayPal account? If, for example, your bank account has sufficient balance then the purchase will be charged from your bank and the transaction will go through. I reckon since you got an email from Apple, you should be good since it means that the transaction went through from their end. But do update if you received the item or not.