[NEXT ISSUE] Your PAN was found to be invalid after verification

Have patience, i have used 2CheckOut around 18 months back when paypal had the same issues with RBI, but 2CO is too costly and then they dont have the simple bank transfer facility that paypal offers which is a breeze, it takes more than 15-20 days for money to come into your account from 2CO then charges for transfer and also double the charges for doing business with them in each transaction. Better persist with paypal, try to get the account restored, just keep sending them support mails, that is what we all did, i send only a simple mail through their web form and gave as many details as possible regarding the Sole proprietorship firm that i own and how in India they allow the business to be run in Sole proprietorship mode with personal PAN and how i have been submitting my tax returns for the last 5 years on personal PAN and even offered them my PAN card copy as well as IT return copies (did not give them, just offered) and waited for 3 days and my account is restored, so have patience, it will help.

Don't take knee jerk actions, like opening another account or changing PAN number to a wrong one etc, this can only complicate the issue further.

 

Okay here is the procedure I am thinking to take.

I will email them my PAN card copy. My IT returns from last 5 years. And there is also a registration form that I had to take in order to buy an office on my sole proprietorship firm. So thinking to send that one too. Will also give them my passport copy and every document that I can find in my house So that in future this issues don't happen

Also I think it is time for moving on with PVT LTD. Accountant says PVT LTD is unwanted hassle for me but I guess would have to move on with it someday or the other.

 

Bloody HELL

I didn't get any email yet. So I thought to login at my PayPal account to check. I just logged in and seen that it is still limited.
It is showing same warning: "The PAN you provided was found to be invalid after verification. Please add a valid PAN"

I clicked on Add a PAN.

I WAS SHOCKED It was showing me below thing:

Your PAN is: BXXXXXXXXXL
Status: Verification successful.

Then why my account is still limited????????

 

May be your account is already restored its just that PayPal did not send you emails.

 

I am exactly in same situation and advice from my CA. Infact i was told that LLP (less than 50k) is cheaper than Pvt Ltd (costs 1 lac). I am the one sitting with proprietorship.

 

When I logged in my Paypal account I was told that my account is restored

But on the next screen it again says that my account is limited for PAN

 

My email to paypal

 

I see the same message in my account

... " "We could not verify your PAN. Please enter a valid PAN and make sure your PayPal account name matches the name on your PAN card. To change your name, please contact us "

 

Just called them again few minutes back. They said that they are fully aware of the problem with all Sole Proprietorship Business accounts. They also confirmed me that the problems are expected to be resolved within tomorrow.

 

One another promise on the way...

 

Actually I suggest not to send them anything. PAN card can be easily verified. Just double check if your PAN card number is right and just give them a call. They are working on restoring tons of accounts. My two sole proprietorship company got restored yesterday. I actually got call from them, not once, but twice and ask me if I have any other issue. Paypal is changing..LOL

Just call them and be polite.

 

they also refunded exchange rate losses on one of my account. I called them to do the same on another account, which they agreed and will do it in next 24 to 48 hours.

 

Is there anyone else who got phone call from Paypal?? I got two phone calls one today and one yesterday.

 

That means your account is restored. The message is still showing on my account, but i am able to receive money from my client. and I am able to withdraw as well. That message will go away soon.

 

One another SHOCK for me.

I didn't receive any email from PayPal yet but I logged into PayPal.

Here is the new message appearing over there:
We could not verify your PAN. Please enter a valid PAN and make sure your PayPal account name matches the name on your PAN card. To change your name, please contact us

WTF is that!

 

JoomlaDesigner, I think that means your account is restored. just that message is not going away. I still have the message. Go to your profile page and you would see limitation would have been removed.

So nothing to panic about.

 

No mate. It is still limited because auto-withdrawal is not happening at my account. Can I try manual withdrawal?

 

I got my account restored yesterday. And as we all know the message of invalid Pan is still showing up,which I believe will be removed in the coming days by PayPal.

However I noticed one thing since yesterday there has been no auto withdrawal from paypal.

 

Hi,

Yes auto withdrawal has not happened since yesterday. try doing manual withdrawals