Has any Indian faced problem in withdrawing funds from Paypal to Bank account?

I had requested withdrawal of Rs.1907 INR from Paypal to my Canara bank account recently. But yesterday i was surprised to finds the entry reversed by Paypal and money recredited to my Paypal account deducting Rs.250 INR instead of crediting the amt to my bank account. When i contacted the paypal support, i received a reply from them saying that my bank reported a problem and so the money could not be credited to my bank account. I am surprised coz a year ago twice i had successfully got funds withdrawn to my Canara bank without any hassles. So wat could be the reason behind this. Any Indian has faced a similar problem of this type? Any change in RBI rules? Pls advice.

 

Are u from India? and which is your bank?

 

That must be a problem with your bank, ask for valid swift code from the bank I am withdrawing from paypal to ICICI bank and it always works for me

 

I faced a simililar prblem earlier this year when I was withdrawing money to my SBI account. I myself was puzzled then.

Again in april I faced a similar problem where my money wasn't transferred to my bank account for 10 days. This time I contacted my bank and they said that NEFT transfers for all India are handled by a branch in Mumbai and gave me a number to ring the particular branch. After I spoke to the concerned person, the transaction was approved and money got credited to my bank account in 5 minutes.

So what I assume is that our banks manually accept or reject payments and in hassle at times they make mistakes.

Hope this was clear.

 

i am havin also same prob i have 125$ in paypal .. but didn't maneged for cashout

 

Hi,
250rs disclaimer is given by paypal during withdrawal process, they clearly mention if the name doesnt match or any other problem if bank does a reversal then they will charge you 250rs charge back fee.

I would suggest go for some good reputed private banks like ;
HDFC Bank, ICICI Bank, Axis Bank, Standard Chartered Bank, HSBC Bank

Hope it helps

Thanks and Regards,
Merlin

 

Thanks for that clarification. I will contact the bank and see what response i will get. But i don't think that this transaction will be approved. I will have to request withdrawal once again from paypal. I have lost more than Rs.350 in this process. Rs.250 slapped by paypal and another hundred due to fall in dollar rate.

 

Hi,
Try to verify your account again and wait till it is completed. I am suggesting this because you might have made some changes to your bank account since last transaction involving paypal.

 

Yeah, nothing can be done to the transaction that has been denied. Moreover, you can't get back your Rs.350 unless the dollar rates start roaring for unknown reasons.

Just try to contact your bank and ask them why the transaction was denied. They might give you a valid reason.

 

The Problem would be with matching of your Account number with your Bank.
Try to verify if all details are accurate...

 

I Use SBI never faced a problem yet basically u should use an account which u hae used before..

 

B4 make account they verify account and make little transaction.Clarify from bank for further transactions to avoid hassles next time.

 

You better contact Canara Bank to know your swift code. This site refers swift codes for different currency.
http://www.canarabank.com/English/scripts/SWIFT.aspx