Just to clarify that there is no issue with RBI or NEFT system , I m doing daily 3rd Party Transfer with NEFT , and it get completed all time after 24hrs of Payment, i did such transaction on 25th ,28th, 30th 2nd feb, All got completed . from ICICI to HDFC , and ICICI to AXIS ( I m taking about bank to bank transfer with 3rd party (NEFT) system), where paypal use the same system for PayPal to Indian Bank transfer (NEFT) Thanks
thats NEFT between our local banks na . We are not clear if RBI and PayPal are having some issues and so the policy change in PrayPAl
i have called mine very close friend who works in ICICI bank in Electronic Transfer dept. ( He said there is no issue with NEFT Transfers its working fine ) paypal is crappy , and did not sent money to NEFT this is the cause of this delay Regards OldGold
PayPal do not send NEFT From Their Bank Of America < ( PayPal has Local Bank Account in "CitiBank" , from where they are performing all this operation ( As mine Personal Tracking source says) NEFT specially for INDIAN bank account , where paypal use the same >transfer system
strange ! i was not aware of that . btw its the main headquarter of GayPAl thats holding our withdrawl amount as far as i guess and the reason could be instructions or dispute with RBI to the PAyPal and they acted very strongly regarding this . i am totally going freaking as what the hell is happening with paypal.
dunno the reason maybe paypal has croseed its limits.. and therfore have to complete govt formalities
I just spoke to my friend who works for PP's back office here @ Chennai. The delay is because RBI has requested documents from PP a month back and now that PP failed to produce it, RBI just sent back the NEFT money to PP. Only after PP woke up and sent the documents. Now, all our funds have already been sent to PP's clearing house. I hope that we get the money in 2-3 days (excluding the weekend days). I hope It Gets Sorted out quickly...or else They are gonna kill e-commerce....
Let me correct you if i m not worng , PayPal has office for Development center . in Chennai , And they do not handle this kind of system (If possible dont give fake info ) pplz here are in tensed Thanks
yes there is no problem with NEFT because every bank and person with online bank account are using NEFT to transfer funds .. if there is a problem with NEFT then it will become a Big issue, there is problem with Paypal not with Neft
PayPal just wanted to earn some money from fees and transfer rates. Have you noticed big changes in currency rates in last week? I think this is how paypal make money and they know Indians is not having any good option other than PayPal. This is called a use of Monopoly Just don't do any withdrawals to save your hardly earned money until issue has been solved.
let me explain some more PayPal Developer center works on SAP system ( I have no clue How many of you know about this Software works for Financial system) where their Developer staff set Edit checks to reverse all Transcation done without applying fees Where they have made reversal for all Transcation where they did not earn Fees even its Service/other Gift /. Personal / Even Goods . if fees not applied then IT will reverse The Transcation from 1st Feb is Triggered and yet not stopped for reversing .
I think this is not right info, because the same thing was happened last year in Feb-march. Did they again forget to send the documents ?? or they don't bother about RBI ? They should change their name to PayHalt !!!
Went to the development center in person and was not given any proper information from them Its problem with paypal and not with NEFT as my other bank to bank got fixed. Btw, it doesn't come from Bank of America. Even the cheque withdrawal from them comes via citibank, India in local currency..
i think the problem lies in the paypal system and their banks. it has nothing to do with RBI or NEFT. i am sure paypal is working so hard on this and allow until tuesday. Last time it took 14 days to resolve the issue.