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

Just a thought but maybe I'm wrong maybe I'm missing something in this whole picture, "If Paypal cannot execute an online bank transfer to any bank in India, how and with what will it honor a cheque?"..... My theory is that paypal has been banned from doing any sort of banking transaction in India till such time as the authorities complete the scrutiny of whatever paperwork
Paypal was lagging with. Yes if you get a cheque you might actually be able to fight local banks to get them to honor it. That will mean about 21 days + another 45 days before you realize that the cheque is good for use only at one place, the loo. That would probably be the moment when you would say "enough", forget about this episode and get back to work.

So, what is the way out? Return this money to your clients and ask them to wire it to you. You can issue refunds for 60days, so there is still time to refund it rather than wait for the cheque drama to play itself out and then realize you don't get even a penny for all your efforts and you can't send it to someone for a wire transfer either. Maybe you could even find a client willing to receive all these funds and make the consolidated wire transfer(in cases of smaller transactions adding up to a big monthly income). A taxation headache for the client but you could maybe send him an inflated invoice to account for the larger remittance this month.

xoom etc. will work but are not advisable in the long run. Do it only in cases of emergency.

That's what I would do. Paypal is not a bank it can and will repeatedly do what it has just done. You, I or anybody else can do squat about this as we signed (or accepted) their terms of agreement. So cut your losses and move on. Fixing Paypal is for someone with an unlimited supply of $$ (xfered using wire transfers hopefully) a degree in international law and no other work for the next 25 years. Besides as they say "if something is too good to be true probably it is" and so far Paypal and bank integration had been seriously the best thing to have happened after baby diapers......

 

Just transfered $2200 using XOOM and they called me back inquiring why i need to transfer this money, who send me this money, i said i sell on eBay, he asked me what is my eBay ID, he wanted to see if my feedback is good enough, than asked any eBay Item number,

Explained me that he is inquiring all this for my safety, he said he is aware of paypal problem and said no problem to use XOOM services

Thank you!

 

hey rohit i have personal account and i have suffered from 3 reversal...
So in your mean what shal i do shall i tell my clients to send money?
Are you sure that they wont be reversed?
And how shall my clients send me money via paypal?
I would be thankful if you help me..

 

Paypal made 10% outta our money by withholding our withdrawal payment for 10 days.
Why cant they reverse the amount in US$ itself when the funds were still locked in their very own system.
A wise move to swindle customers' money but definitely not the right path to do business.

 

well i am in same case yesterday my client said he did get any reversed money from my account(which in my paypal account shows that it reverted to sender on Feb 5 itself).

I will ask him about the status and post it here. This created lot of trouble

 

I am also looking for this answer.
Please anyone answer about this.

 

I know that i could do nothing about this. So i posted a comment on the paypal blog which i am sure will never appear publically. So I am pasting it here as well:

Anuj,

This is taking really long and we guys are suffering huge losses. Hope you are doing something about it.

The uncertain situation is very difficult for most of us and can you please post us an update of whats happening. Its high time that you do it.

Thanks,

 

Wait for around 14 days before reversals to clients accounts happen. Those who funded the xfer using a cc will probably need to wait longer.

 

I lost over $200 in 3 transactions...

Paypal has made huge profit in the past 10 days, Indians get screwed easily...

 

no offence here -- but where will be paypal scam here? u will be filling a dispute against another paypal user not paypal ? either he will loose his money -- or u wld need to revert? (he can be indian also)


i dont thing its a good thing to talk here and leave bad impression about your profile. many people are reading your post and may be hesitant to trade further.

The purpose of the thread is to discuss on ways to solve this problem and get our funds back and start with our services again, rather the complicating the issues further. please keep the thread informative with relevant info. sorry if i said anything wrong --but we need to find a solution

 

Any Update on the issue? Getting mixed Responses

 

Good news??? Anyone??? Did anyone call paypal today???

 

Is it safe to take goods payments now ? And services ?

 

Ahh .. you got me Wrong ..

Paypal goodies usually sold by Paypal on its site .. few weeks ago like easter cards!
ebay and Paypal fees are ofcourse paypal problem ..

Ebay marked tapes, boxes are sold by ebay .. which is Paypal

I never scammed anyone and I will never do this ..
I am just angry .. and if paypal make me crazy like this than I will scam Paypal .. not any user or seller

 

I hope paypal won't start reversing payments of january, otherwise we will be in huge trouble.

 

it is not only the 27th - 1st feb i had made a withdrawal on the 3rd thts hangin somewhere too

 

Any update regarding withdrawal issue ?

First of all Paypal did this without any pre acknowledgement, than Paypal delays and finally returned the money back in paypal account cutting their high money conversion fees and now still no news regarding the problem is fixed of still we have to face this trouble.
We are unable to trade and do business just because of this bug, all the webmasters are facing this trouble and they are just sitting and eating nuts,

It is ridiculous, this issue must be sorted out as soon as possible.

 

all my bank account withdrawl were cancle

 

My Payment Reversed Today


what to do any idea

no clue

they are just fooling us

if they have problem with rbi why they deducting our money

5. 09-Feb-2010 Currency Conversion (credit) To U.S. Dollar From Indian Rupee Completed Details $90.10 USD
4. 09-Feb-2010 Currency Conversion (debit) From Indian Rupee To U.S. Dollar Completed Details -Rs.4,357.01 INR
3. 09-Feb-2010 Transfer From Bank Account Completed Details Rs.4,357.01 INR
2. 27-Jan-2010 Currency Conversion (credit) To Indian Rupee From U.S. Dollar Completed Details Rs.4,407.01 INR
1. 27-Jan-2010 Currency Conversion (debit) From U.S. Dollar To Indian Rupee Completed Details -$98.24 USD

 

How did paypal scammed you?