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

That would be more or less equivalent to non-vegetarian people converting to veggies

 

I still don think there is an alternate to PayPal....

 

It is really getting out of head. I too got negative balance in my PP account this morning. Till yesterday night, there was some decent amount.
And the more confusing is why I am not getting amount in my bank a/c despite the fact that they are showing Completed status in the PP transaction.

 

ya we are in that process on monday we will show the offical copy in DP

 

Yes, even i saw that...

lets see, if it is exactly that or are we up for a ride of our life till date.

 

Have been following this thread for the past three days thought I should finally put my foot in my mouth ) usually my suggestions do not make sense to smart people so those of you kindly refrain from reading ahead this is only for "idiots"

Have had all my payments for Feb from clients all over the world reversed, the last one happened today morning.

Here's what I suggest everyone should do.
1... max out the card you have attached to paypal. I used a low limit card so it was pretty easy to do the maxing out... paid all bills(elecctricity, phones, internet, groceries etc. etc.)
2... whatever you still have on paypal transfer using xoom to your bank account... yes funny but it's working, for now.
3... once the xoom transaction completes detach your card from paypal. It takes four days to attach the card again but then we all know this is not resolving anytime soon.
4... continue working with clients whose integrity is above board and keep a tab. Ask for wire transfers after clubbing multiple payments say every 2 months ask for the payment for last two and next 1 month via wire transfer. This will be better than wasting money on wires every month.
5... make sure you pay your taxes and have all the documents to prove you did. Engage a CA to do your work for you as they know tricks to save you from getting taxed on all of your earnings. If you haven't paid so far they can take care of payments fr previous years as well with a small fine.


Quit telling yourself it's going to be all good on Tuesday. No one gives a rats left bum for IT freelancers in India, not gaypal not RBI not Federal Reserve Bank. Clients have nothing to worry about because you and I will continue to work for them even if paypal closes down so they are not going to make any noise besides who wants to land up in a homeland security mess. They are flying under the radar outsourcing to India and now if the heat gets to them they'll simply stop outsourcing... I know easier said etc. etc..... but then when the government tightens the noose you and I and everyone else squeals. About the negative balance on paypal once the issue is over they will figure out a way to allow bank withdrawals again. At that time either payup and continue the paypal account or just forget about the account and move on to wire transfers. Paypal does have means to extract money from you but not sure if they can if they do not have your credit card attached anymore.

Am sure a lot of you will come back with a "this is only temprary and it will be resolved by monday and news channels will help us or youtube will be our salvation"..... well for the ever hopefuls and positive individuals.... all the best.... for the ones who like to be in control and not in never never land.... act now before they suck up the rest of your funds as well. This is the start of the month maybe you have money in the bank to pay the bills maybe you do not but bottom line is that everyone needs money now at this time. This was wrong on the part of whichever party was responsible to yank away our lifeline in such a brazenly painful manner. Give users a proper heads up before you kick them in the n*** and if you don't you got to be prepared for an equal and opposite reaction......


Take control.

 

Just left a comment at the PP Blog... hope it doesn't get cropped.

 

Earlier I thought that payment which was resent will not revert back but today it proved any kind of transactions to and from India are all getting revert.

 

Two more reversals today. And I do not think this is the end of it. I have a year old 2co account but now I see that they have upped the wire limit to $2500

 

I think it was for the transaction betn 01-05. Still no news of Feb 6. Would update you, if any of my gets reverted (though i hope it won )

 

Yes, all transaction to and from India are blocked. Even those Payments from " Goods" tab with 'shipping address" are getting reversed.

 

i withdraw on 3rd feb and the transaction shows it is completed.. the next day i got payment reversed to my buyers and i got -ve balance.. will this affect my withdrawal to my bank account or will paypal will hold all my money till the -ve balance clears to normal.. please help i am very afraid of my money because they are huge money...

 

Guys any new updates about when our bank transfer will be completed.

 

I think nobody did any transaction today...but previous transfers are getting reversed even today...

@anjelina

All of us are waiting for this issue to be resolved...The earliest date that you can hope for is by Tuesday...

 

bhai your weekend is spoiled my birthday has be spoiled by these morons

 

I have made transactions yesterday and today, all in goods...

 

This is really not good. I am afraid if all of my clients will resend me the money. Even if they do it will again get reverted. PP is really blocking us from doing any online business right now.

 

Can PayPal hold my money with no explanation? The answer is YES.
Can PayPal freeze my account for no reason? The answer is YES.
Can PayPal take money out of my account without my knowledge?
The answer is YES.

PayPal is not a bank and does not provide its merchants with a Real Merchant Account. PayPal provides its merchants with a PayPal account.

With a Real Merchant Account, your funds are deposited into your personal or business bank account, which you control and which is also protected by Federal Banking Regulations.

With PayPal, your money is deposited into a PayPal Account, which PayPal Fully Controls.

Since PayPal is NOT a bank, they do not need to follow federal banking regulations. These regulations are in place to help the "Average Joe" avoid issues like having their bank account frozen for 6 months with no explanation..

 

So here is the latest update on this issue - ( Praypal's Never Ending Story )

Indians >>
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