Mine too.. temporarily i will request clients to pay using some different modes like xoom or wire transfer. I think Paypal is doing something wrong or else how this will happen to so many.
I already put the same business name as my PAN card name. And same name for my bank a/c. Don't know what the issue
That's crazy mann.. I think now there is definitely something wrong with their system. ANy other quick alternatives where we can receive payments until this issue will fix?
Dear All I have spoken to Paypal Higher Authorities and i have notified them of this "Mass Scale Stupidity". They at present are investigating into the same and they will get back to me shortly. Weekend Holiday might delay the resolution but the massive scale of this "Stupidity" might force them to resolve this within 24 hours. According to me "Paypal was trying to match company information" with "Pan Card" details and this resulted in limitation of millions of valid proprietorship companies. I lost considerable amount of money in a single night. To make matters worse the bank withdrawals were reversed and i had to bear currency exchange losses as well. I have also Emailed the management guys in US and i am not sure when they will reply back. I took up the issue for "All of us" instead of "Just Talking About My Own Account" and i hope for a resolution within next 24 hours. Someone from the Engineering Department - Development Team taking care of Indian Accounts is sure to get fired today! Lets keep our fingers crossed. Rishi
same mail i got too. also i got my lot of withdrawals reversed fcuk those idiots. i think we all have to fight with them for not only this stupidity, but also reimbursement for the loss we faced due to their bank withdrawal reversals. i think due to high rates of $, they'r doing this shit. i've noticed this that whenever $ rate is high, they do this kind of shit.
Hello guys, I am facing the same problem! last week it was the auto withdrawal shit and now this... what a way to start the day. Please update if you get any solution! thanks
Hey thanks a lot Rishi Please keep us posted on this as u get a reply from them. A Big thank You once again
This is not just relating to BUSINESS accounts. I also got this email (personal account) ISSUE seems to have affected many accounts. They verified my "CORRECTLY ENTERED " PAN successfully 2 days before and now last night, they email that its invalid. Going by the mass accounts affected, i think they have an issue somewhere and will correct it as son as possible. I also emailed them as phone support is not possible right now as out of working hours! Morons..."PAYSHIT "
Very nice effort there. I think we should do same. We should talk about our combined issues rather then solving it for ourself. We should educate them that Proprietorship doesn't requires PAN card on Business name. Issues after issues are happening. Sometimes this GOVT is foolish and sometimes a guy runs a system wide check with improper knowledge limiting thousands of accounts with one click.
hello all, All propriety firm are closed on Paypal. Paypal needs to simply match Pan card owner name = bank account owner name = paypal owner name In my case, bank account owner name = paypal owner name is company name but pan card name is mine thus paypal says pan card is invalid. Paypal needs company pan card. But In India we use personal pan card when company is proprietary.
we spoke to ebay instead paypal, they say all proprietary firms pan card is declared invalid. Pan card is valid but is not valid according to your company name. Still talking let us see what can be done in this regard
Why cannot you have the PAN card in the name of the company???? I have a business account and my account name matches the name of the PAN card which is both in the name of my company.
So that means you have not been affected with this limitation, am i right. There chances that paypal might give back the currency conversion fees, else there is a slight chance that i can see where i will be able to send them a legal notice, first they make the auto withdrawal option, then they themselves auto withdraw, then one night they auto withdraw, after which limit the account and then reverse the withdrawn amount and keep the currency conversion, looks like some kind of scam system out here, it has the smell of a fishing scam to me, very skewd method of increasing ones bottomline and only give back to those guys who complaint or send them legal notices.
Hi All, It seems all of us having the same issue and I'm sure there might be thousand of others who have not posted here yet.I have also contacted PayPal by writing the below email and waiting for their reply – will update as soon as I get their response. If any of you able to resolve it in between please update your post or advise what they have replied. Let’s see – desperately waiting for a quick resolution. Regards, Prodosh -------------------------------------------------------------------------------------------------------------------------------------------- Hello, I've added my PAN card, bank accounts, purpose code and credit card etc. years ago and verified my account. I also never got any reminder etc. on the account overview page as expected as all required information was there and using the account smoothly. But I could not understand why PayPal sent me an email by specifying that "Your PAN is found to be invalid" and applied "limitation" to my account! Now I cannot receive or request money due to that and my online business is in a very critical stage I have tried to resolve it through the Resolution Centre by clicking the Resolve button. But as I’m entering my own same PAN number the system showing an error msg. “You have entered your existing PAN. Please enter a different one.†Thus I'm not sure what I need to do to resolve that issue. I have a valid PAN card and could not undestand how your verification process works or what's wrong there now? Previously I had a Premier PayPal account which I have updated to a business account in last year. As I have a proprietorship business so my existing PAN card number is applicable for my business as well. I wish to state again that my business type is "Sole Proprietorship" so my business PAN number would be same as my personal PAN number. I need your helping hand desperately. ----------------------------------------------------------------------------------------------------------------------------------------------
I am facing same problem too. Got a business account, Sole Proprietorship. I have also spoken with PayPal Customer care. They said that they have escalated by problem to their higher authorities. They will re-validate the PAN number and come back within next 4 working days. They also advised that I do not need to take any further action till that time.
Not a good one from paypal, someone have to ask them to verifiy it from https://incometaxindiaefiling.gov.in/portal/knowpan.do that would be easiest and best way. They just trying to fool us they didnt do any verification from there end. Because they also limited those account who submitted business name pan cards too not only those who are proprietorship firms.