In my view there should be no reasons other these 2 below problems for all this Paypal drama... Reason 1. Paypal is all concerned about commission. Some of Indians try to exchange money by paying or receiving funds as "Personal payments" which is free of cost mostly. So, this is loss for PP, some way its working free if payments are "personal payments" Even many of my Indian partners requested me to pay payments as personal payments to avoid paypal commission, which i always rejected. So Paypal might have been making a program to avoid this clever act by Indians. Reason 2. Many have been saying that this problem is becoz of RBI. Even this is possible. Indian government sucks, they act upon various idiotic policies. Ask our finance minister does he know what Paypal is, he will show blank face, but if one suggests to stop PP he will do it fast, becoz he has the powers. Even my Bank manager does not know what Paypal is. In this case, may be our government or RBI is concerned about money laundering for terrorists or income tax issues. For a person in India to cash out funds from PP he has to either get it via cheque, Bank transfer or credit card or debit card transfer. For all the above withdrawals one has to have a bank account which will be associated with PAN card. Even bank accounts are opened after strict policies like verification, introductions and so on... a. From Pan cards government can tax us with this money we are getting online. b. Banks can stop big amount transfers and suspect who is terrorist or freelancer. c. All records of money transaction are availabe with Banks God only knows what other problems does Paypal or RBI has. They should come out with exact reasons like responsible people, not just post a comment on blog. We would look out for alternatives or if this problem will be solved in few days, we will also stop business for few days rather than wasting our time and loosing 100's of dollars in reversals.
That's not our mistake ..if anyone open their door then anyone can easily enter in it... So very late decision taken by paypal ..
Even if some one sends money via personal payment option still PayPal charges fee though fee was less in comparison with other transactions and also you get the option to choose that who will bare the fee. Thanks
i seriously pray indian govt doesnt come in the scene...if it comes lets forget paypal they will take ages to allow bank withdrawals :I
But without any prior notice from paypal, how can they suddenly do this. They reversed my $425 payment from my bank account today. This is really heck. Also for reversal they deduced $32 from my payment.