Paypal India Problem Resolved

I have blogged about Paypal Payment Reversal Problem earlier this week and I mentioned that I have sent an email regarding the problem to Paypal. Well, I just got a mail from Paypal India assuring me that the payment reversal and withdrawal problem will be resolved withing a day or two.

Here is the direct mail that I have got:

Dear (My Name),

Thank you for your patience while we work to address the issue of processing withdrawals to Indian bank accounts.

We expect to have this issue resolved within the next few days. In the meantime, we’re going to restore the amount of your recent withdrawal into your PayPal balance so that you can know your money is safe in your account. You should see the balance restored within 24 hours. In addition, you will see a reimbursement of any withdrawal fees charged. We will ensure that you are not adversely affected by currency fluctuations during the last week.

In your transaction log, you will soon see that your PayPal withdrawal request has been reversed. We ask that you wait to submit another bank withdrawal request until we have addressed the processing issue. We will contact you again in a few days with an update and, if the issue is resolved, you can initiate another withdrawal at that time. In the meantime, you will have the ability to spend your balance to purchase goods or services if you choose.

Again, we apologize for the inconvenience this has caused.

Thank You,

PayPal

Good to see the problem being resolved.

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Comments/Queries

( 29 Comments so far )

• Anirudh K. Mahant
  
  Feb 27, 2010 at 07:32:pm

  Recent issues with PayPal withdrawals to Indian Banks & more over payments just randomly being reversed back to the senders will have a deep impact on PayPal’s reputation. It raises so many questions like (THIS MIGHT CONTAIN SPOILERS):

  A) Should we trust PayPal in future?
  ANS: ABSOLUTELY NO

  B) Are they really concerned about our Money?
  ANS: ABSOLUTELY NO, After a long period of two weeks we receive an apology letter stating that “We are sorry we goofed up opps!”? and stuff like “Your money just got sacked since this is nothing serious to us we are just doing a drill of playing a game with your hard earned money”?

  C) Is RBI responsible for this?
  ANS: UNQUESTIONABLY MAYBE, So, Question is why this is happening in India and nowhere else? Question is why we are being kept behind curtains and dark? Question is why Moneybookers and other Payment systems are working but PayPal is not? you just want to exclude the RBI out of this since they are least concerned with us. Everyone failed here! RBI off course you cant expect them to give you a comforting truth so a comforting lie should suffice you! And PayPal Ow man no shit a multinational company failing to inform and notify of an issue of this magnitude. That was an AWESOME combination of pure frustrating, destroying trust & spreading chaos.

  D) So what does PayPal tell us now?
  ANS: “We are sorry, but your valuable to us so please give us another opportunity to goof up and play some more engaging games with your money” and “We just love to make more profits by giving you a pathetic exchange rate”

  D) What now?
  ANS: DTA (Don’t Trust Anyone) Get your sleeves up against them and find your own ways to get paid over any other medium that serves better, communicates better and keep them in plenty. If one fails other should work out.

  Ive let all my clients know about this issue and advised them (in advance unlike PayPal) to switch over to some other Payment system which is reliable, responsible and does the main thing “ACTION” at PAR. The truth will probably be dead and berried RIP about what happened because the shame and disgust they bring upon themselves is apocalyptic now.
• Kushal
  
  Feb 27, 2010 at 09:18:pm

  This is so frustrating. I had withdrawn an amount X from my Paypal account and made a personal remittance to the ICICI Bank account. It had been around 15 days since I heard from them. When contacted this is what they replied:

  I checked your PayPal account and I do see here the withdrawal you made on February 10, 2010 for Rs.XXX INR. Right now, the status of the withdrawal on your PayPal account is already completed, and this is because the funds were successfully taken from your PayPal account balance. Now, I am sure that you are aware of the issues that we have had with bank transfers to Indian accounts. Now, basically right now, we will not be reversing the funds back to the balance anymore as we are still trying to have it posted on the bank instead. Rest assured though that the funds are safe and will be credited to you.

  In the meantime, I would recommend that you check and visit http://www.thepaypalblog.com for updates on this matter.

  We hope you understand our situation and thank you for your patience.

  —-

  What crap? Now they say they are NOT going to reverse the funds back too…. If Paypal takes 6 months (or even more) to get this issue of personal remittance sorted out, we have the funds blocked. WHAT ARE THEY DOING WITH THE MONEY?
• Priyanka
  
  Feb 28, 2010 at 04:03:am

  Hi all,

  I have the same issue with paypal as I am from India. I had more then $700 balance in paypal and because of the limitation, I was not able to withdrew my fund, and with in a few days more funds will hit my paypal account ( as I am a designer and I’m listed in elance, scriptlance and GAF). Now I want to share the way how I am drawing my Paypal fund in India.

  I opened a Legal Personal US bank account . ( take 10 days to ship my ATM card, PIN and check book ) ( Don’t believe any offer untill its US-FDIC recognize, I have lost money in google search)

  And then I Transfer my PAYPAL fund to My US Bank account ( took 2 minute).
  Now I can withdrew my money from any ATM in my city. (my ATM card is MasterCard Debit card.)

  I opened the account just for nothing ( only $10, for information they will ask you to deposed $200 at the time of opening the account but you can withdrew the amount anytime) and it’s a 0 balance account with an ATM card cum MasterCard Debit card, 200 page US check book. More over my account is insured up to $100,000. Now, Some of my customer wish to paid me directly in my US bank account. As a result there is no extra charges ( Paypal %) between customer and me….

  I am happy that I have a legal Personal US Bank account and NOW I can withdrew Indian rupees without knowing anyone in India

  For More details about the personal US Bank account just see http://valisinternational.com?id=usa2010

  Best of luck.

  — Priy@nk@
• Smart Indian
  
  Feb 28, 2010 at 03:01:pm

  Appeal and Request to All

  Quit PayPal. Join Moneybookers.

  Moneybookers is cheaper than PayPal.
  Money transfers from Moneybookers is quick and swift.
  Yes, they use the SWIFT method, that is, they wire the money to your local bank, instead of using the NEFT method of PayPal.
  Moneybookers and RBI have no problems with eachother.
  Customer Care of Moneybookers is good. They are prompt and satisfactorily reply to your queries.
  Moneybookers is organised, authentic, systematic and very professional.

  You might have one question in your mind that the world, all the webstores, all my clients use PayPal, so how can I use moneybookers.

  The answer is that you move to moneybookers, tell your friends to do the same. If all flock to MB, then rest will follow… your webstores, clients and the world.

  Quit PayPal. Join Moneybookers.

  Use this link and give me some credit
  https://www.moneybookers.com/app/?rid=15325439

  God Bless You!

  … and save you from PayPal
• Siddharth
  
  Apr 08, 2010 at 05:07:pm

  A service is there to send money to paypal in india money2paypal.in
• Sabir Gata
  
  Jun 06, 2010 at 05:05:pm

  MAYBE, So, Question is why this is happening in India and nowhere else? Question is why we are being kept behind curtains and dark? Question is why Moneybookers and other Payment systems are working but PayPal is not?
• Avninfotech
  
  Jul 28, 2010 at 10:36:am

  Paypal will stop Electronic Fund Transfer to india. and cheque is not cumming properly on addresses.
• Anirudh K. Mahant
  
  Jul 29, 2010 at 12:58:pm

  YET AGAIN PAYPAL IS STOPPING ELECTRONIC FUNDS TRANSFER BEWARE GUYS……… WITHDRAW YOUR FUNDS NOW!!!!!

  Orig article at PayPal offcourse you gotta take the pain in the rear to find it your self:

  https://www.thepaypalblog.com/2010/07/update-on-paypal-accounts-for-india-users/

  ————————

  Hello Zoe,

  Good morning.

  I wanted to make sure you aware of a notification that was sent yesterday to customer’s in India. I have included the notification below.

  In accordance with regulatory instructions, we would like to notify you about a change in our withdrawal functionality in India starting on August 1, 2010. At present you can request for either an electronic or cheque withdrawal of funds from your PayPal account if you are an India user.

  From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.

  While we are working hard to restore the electronic withdrawal service, in the meantime, we are bringing this matter to your attention so that you can plan your future withdrawal activities accordingly.

  To request for a cheque withdrawal:

  1. Log into your PayPal account, click on ‘Withdraw’.

  2. Click on the ‘Request a cheque from PayPal’ link.

  3. Enter the withdrawal amount and select your mailing address, then click ‘Continue’.

  4. Click ‘Submit’ to confirm your request.

  In order to help you with this change and until further notice, we will refund the $5 USD cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.

  For any questions, please log into your PayPal account and click ‘Contact Us’ at the bottom of the page.

  We apologize for any inconvenience caused from this change in our withdrawal functionality. We will provide ongoing updates to you here. We thank you for your attention and patience as we work tirelessly to resolve this situation as quickly as possible.

  Please let me know if you have any questions regarding this change.

  Sincerely,

  Carolyn Anderson / Merchant Account Manager
  direct 866-923-3778 / cell 402.960.9871
  fax 303.395.2821
  office hours 7:30 AM – 4:00 PM CST Monday – Friday
• Ramsheed
  
  Jul 30, 2010 at 12:43:am

  Paypal india again gets into trouble
  now they not allowing to withdraw funds to indian bank accounts.

  i think we need to unite and should submit somehting to RBI , what you think ?