Well i agree with this to. There isn't much we can do as clearly everything that we can accuse them for is covered in their privacy policy and tos. Just wondering, can we sue them on grounds of racism? As they are most affected....
There is always a way around. Just spoke with couple of my law ly friends think it would need a strong media support to get this case moving..Else they would easily turn the case
That depends on what you mean by "racism". Or at least what applicable law defines it. If you mean racism in the sense PayPal blocked users from certain places like yours from using their site, then unfortunately that isn't. At least, that's how many countries doing online commerce "think" since they can block them out due to potential risks they can't afford to take.
well there have been 20 posts since I posed my question and I am still no wiser as to what this thread is actually about or what exactly triggered te poster to start this thread.
PayPal has confirmed that the Indian government shut them down and that it will be a minimum of 3 months before they are back. thepaypalblog.com So you can stop this talk of suing PayPal for racism nonsense. Blame your government.
PayPal turned off service in India and reversed certain recent transactions. They were not forthcoming with information at first. Those of us in the West understood that this was obviously an Indian government and/or Indian banking issue. Indians however labeled PayPal racist criminals out to steal their money. Thus, this thread and others like it across the internet.
How about that? PayPal has a blog, too. And that's what's all about, huh? Somewhat understandable why PayPal was not initially forthcoming since it'll turn off lots of people, although it's best to just tell it straight up so they'd know what happened. Assuming that's what the OP and others are talking about here, then I agree there's essentially no enforceable claim against PayPal for this. It's a business decision on their part, and a hard one to make at that. I wish good luck and Godspeed to those affected by this. It won't be an easy thing to resolve for everyone involved.
This is not about racism or anything just read the questions i raised on the first post. These where easily addressable but paypal didnt..RBI or any government wouldnt enforce a rule overnight. Paypal could have informed us earlier. Paypal should have told us before we withdrew our money on feb1 . Our money was not but back into our paypal account for 6 days The money lost due to currency conversions. RBI has passed this rule in Aug 2008 so paypal had 17 Months and did nothing.
Well let me put it so you can understand what "PayPal" is... NOT a bank NOT FDIC insured US based business with that said, with their TOS you're SOL you agreed to hold harmless PayPal for any wrongdoing resulting in error or such otherwise. Good luck with that.
Thank you for the clarification. I can now go and inform myself of the situation and then decide if i feel i want to respond or not.
paypal froze like 30K in in the account of my employees. Dont use these suckers, switch to other payment mediums and you will be much happier. No need to sue, paypal will lose its business if evryone just stops using them. That would be more than enough to show them the finger.
The truth is Paypal is a good system or else it wouldn't have gained such popularity. The effort taken to transfer currency from US (mostly) to India compared to other systems, paypal is very convenient, quick and reliable so far. Do you think you could easily bring in heavy money just like that to India ? And also RBI ( reserve Bank Of India) is no such common system. They are really very highly advanced and they know how to authorise transactions via Online payment systems. "Terms & Conditions" that you accepted gives them full right to change their policies without prior notice. Don't blame a system the very moment it doesnt seem to go by your terms. And many Indian's feel the paypal Transaction fee and currency conversion rate are high & low respectively but thats not the case. You will find out that these rates are reasonable once you inquire with your bank. I can say "WAIT". It could have been worse. So just wait.
Keep in mind this, any central bank in any country including RBI is a fraudulent institution. Learn the 'fractional reserve banking" or central banking system then make a conclusion. There is nothing complicated about their system. You get a private institution print money out of thin air and then you pay tax on it. They dont pay tax they just "own the money". Now they screw you around when you have large money sums. The reason? They dont like independent wealthy people and want to keep evry one as a slave. Reality is all these banks are duping people like you, getting loaded, create recessions while you are busy calculating how much tax you owe on the money they "give permission for you to own". I do not mean to be offensive. I just make a point if the people would spent a little time to learn what is going on around them and instead watching TV do some critical thinking the wrold would bea truly better place.
you can move consumer forum and take legal action against them.Remember any contract that intend to supersede law,is deemed void in court of law