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

So the business process goes this way: Paypal is receiving money for us > Remiting to India in $$ > $$ in citibank getting converted to INR with all conversion charges duly paid to RBI > Money remitted back to our account.

Look all fair. Paypal is just acting as a payment gateway for us.

 

Just make sure your buyers or payers make payment by selecting Goods as an option and mention their shipping address just for the sake of the transaction. I did that and I had no problems. Actually I use PP's email wizard to send links through emails which are made that way. i.e to accept payment as goods only. The payments I received through links didn't get reversed even during the Personal payments issues.

 

The most annoying thing in this whole issue, which really - really hurts is the attitude of RBI or any governing council . They need to publicly disclose that there is some issue going on between PP and them and the users are advised not to accept any transaction of a 'particular' payment system. This is not a sign of "Pardarsi Sarkar / Jawabdeh Sarkar" or "Transparent Governance". They never thought about budding community of freelancers who can be classified under 'poor freelancer' depends solely upon a payment option.
The thing is even worse that no National Newspaper has raised this issue today, while the whole world is enjoying this "Tamasha" at free of cost.

 

Newspapers are more interested whether Angelina Jolie and Brad Pitt get divorced or not.. They aren't even aware of these issues I bet...

 

Well paypal is the person who was suppose to inform us

 

Guys, I have not yet received the reimbursement of the deducted fund (from the withdrawal process). Anyone else with me?

 

but somewhere down the line paypal is also responsible for being little ignorant here. in the news post RBI spokeperson is saying this issue was highlighted in aug 2008 and paypal didn't take any action then. they have to know that they are dealing with indian govt here who is famous for taking you by surprise. you never know what they do next and they never give you time. i deal with indian customs regularly and i know how they work.

 

out of the 3 withdrawal reversals negatively impacted by exchange rate fluctuations i only got paid by paypal for one...still down more than 300$$

 

anyone confirm, when will we get our money.

as it now became a long thread to read.

 

now money is not being returned. Many clients paid me using the services option recently.

 

Well the question is that, is paypal going to pay that money to you or are they going to simply rap up their sack and say good bye India? As usual, India will not take any step. Like they did not against the Aussies beating up Indians in Australia.

 

I hope not And PP has shown some amount of decency in refunding our full withdrawals I hope that it's not good bye India for PP yet....

 

No, PP will not do that for sure. They have to take care of their reputation. I am sure they will take every step they can to resolve this - this is what I feel from my previous experiences with PP.

 

that's some consolation

 

Okay at last i got my money into my account thru Xoom.com via paypal, took 3 days this is nice i think... i think this is the only alternate for now...

 

How much did you have to pay as charges?

 

For testing i did 50$ transfer, they charger 10.99 $ thats huge
and $ rate they give is 46 Rupees

 

Well you need to understand entire financial/banking system and Money related policy works to understand that what RBI is doing is right..

FYI: RBI has not asked to stop bank transfer, they only suspended it until paypal follows the rule set by them..

and IMO Suspension is fine we should Abuse RBI only if they ban paypal operation totally in india

 

I just wanted to know that can I get paid by "Services/Others" option in PayPal or only via "Goods".

 

Well their suspension amounts to stopping it temporarily isn't it? And no one's abusing them. Just that they could have at least made a public announcement of the suspension prior to doing it. Also I'm not saying PayPal isn't to blame.Also we don't need to know the intricate details of banking operations to know if PayPal transactions come under Govt's eye. It's just logical that they do.