Anyone else got the email alert after withdrawal (Indian Paypal Users) ??

I have not get my fund yet. I transferred it on 29th jan 2010 (Friday). Its not credited with my bank yet.

 

monday iam going to visit paypal chennai office but i think they may stop me at gate itself

 

Me too from India bhai

What did you mean? 100% cash back?

 

Be positive yarr ..

 

LOL . I mean the payment to the seller will be reversed and the seller will be notified about it aka the whole transaction will be cancelled?

 

They won't do anything
We can still few more days to solve it!

Thanks
Blog.

 

at thistime please wait for some days because all of them dont know the exact date where issue will be relesoved

and if need to get funds from client ask them to send as goods with shipping info dont forget about the shipping info this main

and dont try bank trasver now

 

News in abcnews

PayPal Halts Certain Payment Transactions in India

The online payments service PayPal has taken the unusual step of suspending many transactions in India for more than a week.

A spokesman for the service said Saturday that "personal payments" to and from India are being blocked. Transfers to banks in India are being suspended as well.

The spokesman, Anuj Nayar, said PayPal is taking the step while it answers questions that have arisen about the service. He declined to elaborate.

Nayar said the suspensions began Jan. 28. He wrote in a blog post that PayPal, which is owned by eBay Inc., hopes "to resolve the situation as quickly as possible."

Thanks @peaceful_soul

This is stale news for us at DP..We are already aware of it..

 

in chennai they have the development center only...

they wont consider our queries I think!!

Many of my Transactions reversed.. still waiting for a Solution!!

 

Don't worry... go ahead do something for your brothers and sisters suffered by PayPal... we all pray for you!

 

Oh that sucks then

 

Word from PayPal Communications Team's guy, ANUJ,

"I’m writing to let you know that personal payments to and from India and transfers to local banks in India have been suspended while we work with our business partners and other stakeholders to address questions they have about the service.

During this time, customers can still make commercial payments to India but merchants cannot withdraw funds in Rupees to local Indian banks.

We’re trying to resolve the situation as quickly as possible and we’re really sorry for the inconvenience that this may cause our customers in India and around the world."

 

please get it clear what is xoom and how will it help me ..!!

 

Last year in November, the Indian government had issued a notification (No No.13/2009/F.No.6/8/2009-ES dated 12 November 2009) for prevention of money laundering. Under this notification, the Reserve Bank of India (RBI) has asked all banks and financial institutions to maintain proper record of all transactions and verify identity and address of a non-account based customer or a walk-in customer.

Payments to and from PayPal to its account users in India may also involve the foreign exchange maintenance act (FEMA) that has been under a cloud over the black money issue. On Friday, many renowned personalities had filed another petition in the Supreme Court seeking a direction to the Indian government to bring back unaccounted black money to the tune of around Rs65 lakh crore (Rs65 trillion) stashed away in banks abroad.

Although PayPal provides money transfer service to and from India, neither the company nor its account holders pay any tax on the transaction. When Moneylife contacted the RBI to know about the PayPal issue, an official said,”We have no idea why this is happening. PayPal doesn’t come under RBI’s purview.”

The question is then how can the country receive money, in foreign currencies, without any accountability and supervision? Some of the comments on techcrunch.com also say that many Indian account holders ask their payee to make the payment as a ‘gift’ rather than payment for services to avoid PayPal fees. One such comment said: “A lot of business must be transacted in India via PayPal—business done with personal transactions. So a money-hungry Indian government is aggravated at some perceived revenue loss (taxes, customs, etc.) and (has) put pressure on PayPal to stop the payments either directly or indirectly.”

Source : MoneyLife

 

@ Axus Technologies Inc.

They are telling this same thing for the past 4 days..!!

 

@Axus Technologies

That is a lie...Even commercial payments are also getting reversed....

 

The latest update for those new to this thread

1. Paypal acknowledges that they are aware of the issue on 06-02-2010
"We are aware of this issue and I sincerely regret the inconvenience it has caused you. We are working to resolve this matter" -
Source- e-mail received from Paypal

2. Payments made using the options as specified By Paypal are also getting reversed...
Sourceaypal e-mail and user comments
If this was a payment for a purchase of goods or services, and not a personal payment, then you may contact the buyer and have him or her resend the payment as follows: :
1. Have the buyer log in to their PayPal account.
2. Click “Send Money.”
3. Enter their email address in the “To” field.
4. Enter the amount of money they wish to send you, and choose the
currency from the list.
5. Select “Goods”, “Services”, or “eBay Items”, depending on the
purchase.
6. Click “Continue.”

OR
(a) click the Send Money tab,
(b) select "Goods," and
(c) provide a shipping address.


All Payments or Transfers to India are getting Reversed....

3. They have deducted Cancelled Fees for some users..not all...

4. Paypal account still displays Negative Balance. How it is Negative still remains a mystery as payment has not reached banks in India

5. Payments transferred has not yet reached Indian Banks...

6. Nobody is aware where the funds are currently parked..Some payments have been refunded to senders...Not all

7. Users receive conflicting e-mail messages (most of them are copy/paste messages) from Paypal

8. RBI officers deny having any issue with Paypal, as posted by some users who had talks with them

9. No official clarification yet from PayPal or RBI

10. NEFT system is working fine as clarified by Foreign Exchange Department ICICI Bank

11. No time frame specified by Paypal for a possible resolution..

12. Paypal has noted in their mail message that all personal payments have been returned to Senders..The reality is that not all payments have been refunded to senders..
source Paypal mail
"Any personal payments that have been recently sent to you from India have been automatically reversed, and the money returned to the sender."

 

Yes Please do elaborate. Is it trust worthy? Cause I have to make some withdrawals...

 

looks like card payments aren't being transfered either. i withdrew some money to my credit card, and that showed as completed a few days ago, and the money still hasn't reached my card. usually happens in 48 hours.