RBI never sit over money. Your bank can never hold your money. They have to reurn it in 2 hours if there is a mistake and can not be credited Its Just Paypal who has not give instructions for NEFT to their bank Ash
PayPal dont give instruction nor RBI hold money. Its RBI delays the process. PayPal cant show " completed status" if they have not sent money successfully. It shows " pending" till it reaches to RBI. Otherwise PayPal shows completed status as soon as we withdraw money. Remember its RBI who has applied all the new rules,instruction and limitations to Indian users not PayPal.
RBI and paypal had conflicts in recent past but those were resolved. hope we dont get to hear one more conflick b/w the two!
You have a right to differ but I feel above is NOT true This has Proven over time that "completed" is just some internal status in Paypal and Money does not leave Paypal soon after they change status.
Yes,I retweet on his reply to you. If many people ask him same question,May be he will look and ask Paypal India Office or somewhere he know better
Received a phone call from PayPal today morning in reply to my mail to them regarding the delay. ------------------------- Good Day! It was great to speak with you today. Below is a summary of what we discussed. I understand your concerned about the withdrawal that has not posted to your bank account yet. So I checked your PayPal account and it shows that the withdrawal status amounting $XXXX USD is completed. Completed status means that funds are out of PayPal and it was sent to the bank successfully. We do not have control over the bank's process but as far as PayPal is concern, I can assure you that we have sent the money to your bank and it is being process by the bank. I suggest that you allow until Friday as bank transfer in India takes 5 to 7 business days to complete depending on the bank's process. If you are unable to locate the deposit in your bank account and the status of the transaction is still 'Completed' in your PayPal account history, we can trace your withdrawal once 14 business days have passed. Usually if there is a problem with a withdrawal, it is returned to us and the money is reversed back into your PayPal balance. So far, the withdrawal has not been returned to us. ----------------------------- I asked her twice about old conflict between RBI and PayPal. She laughed and easily said its nothing like that. All we can do is wait as we were doing. It was a week of holidays. Also realized that it was a holiday on Friday in US. 10th was a holiday in India. Saturday & Sunday dont count.
Just received 8th and 10th payment in ICICI bank (on 10th 2 payment withdrawn but 1 is credited and 1 is still pending)
Got abnout 10 Withdraws Credited just now! all good and thanks for all yours support bye till next time!