Paypal India Money Transfer Problem Resolved
If you are an Indian paypal user, you must have faced lot of problems in last 7 days due to Payment Reversals and money not getting deposited into your bank accounts even after a week.
But it seems now the problem is almost fully resolved as the reversals of payment have stopped and people who had withdrawn money to their bank accounts, they money has been credited back to their paypal accounts, so they can withdraw it again, though it seems people have lost some money due to currency exchange.
If you are a freelancer, now you can get paid through both goods and services and the transaction won’t get reversed even though paypal was suggesting to use only goods option, you can also send invoices too as they are also working properly.
It is a real shame though paypal handled the whole scene in such unprofessional way where they just stole the money from your account and put it back in someone else account, I know paypal is not a bank and is just a service, but still, such kind of practices can not be allowed, not to mention, there wasn’t any official statement at all from them which caused widespread anger and panic.
There are good chances that everything will get restored in next 1-2 days and there may be some official statement from them, right now, the only feature that has been removed is “personal payment” option for Indians.
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7 Responses to “Paypal India Money Transfer Problem Resolved”
1raviseo on Feb 9, 2010 :
Hey it sounds so nice but it cost lots
in reversal anyways if u r saying it is resolve then i can make a try again hence now my paypal balance is credited as u mention in your post thanks 
2jsmi on Feb 12, 2010 :
Please don’t mislead people who already annoyed. Paypal problem is not yet resolved. Problems regarding the personal payments to and from India and withdrawal to local bank accounts are still remaining. Only thing they did is that they’ve refunded the reversed amounts to the related accounts.
3Abhimanyu on Feb 15, 2010 :
I don’t the personal payment option is going to come back, as per paypal it take months to get resovled, anyway you can also withdraw funds from paypal through check or through your credit card, please check https://www.thepaypalblog.com/2010/02/an-open-letter-from-farhad-irani-on-the-situation-in-india/ to know more about it.
4Anand Patel on Feb 23, 2010 :
Hi guys, Sorry to say but issue is not resolved yet, as i tried to withdraw money and they again deposited back to my paypal account. RBI is not yet allowing such transaction , m wallet and e wallet where they are losing control over the transactions but i never understand one thing, we are withdrawing money to bank accounts of indian banks, ( govt or self finance ) than after how RBI claims that they are losing control over such transaction ? So don’t try to withdraw yet as its not resolved fully yet.
5Abhimanyu on Feb 24, 2010 :
Anand, I think the direct bank transfer can take couple of months to get resolved, you can withdraw $2500 per month at max from check though.
6Vijayshankar Mishra on Feb 25, 2010 :
The issue is not resolved yet. So pls. dont deposit balance to you bank a/c otherwise you lost some amount due to conversion rate.
7Anirudh K. Mahant on Feb 27, 2010 :
Recent issues with PayPal withdrawals to Indian Banks & more over payments just randomly being reversed back to the senders will have a deep impact on PayPal’s reputation. It raises so many questions like (THIS MIGHT CONTAIN SPOILERS):
A) Should we trust PayPal in future?
ANS: ABSOLUTELY NO
B) Are they really concerned about our Money?
ANS: ABSOLUTELY NO, After a long period of two weeks we receive an apology letter stating that “We are sorry we goofed up opps!”? and stuff like “Your money just got sacked since this is nothing serious to us we are just doing a drill of playing a game with your hard earned money”?
C) Is RBI responsible for this?
ANS: UNQUESTIONABLY MAYBE, So, Question is why this is happening in India and nowhere else? Question is why we are being kept behind curtains and dark? Question is why Moneybookers and other Payment systems are working but PayPal is not? you just want to exclude the RBI out of this since they are least concerned with us. Everyone failed here! RBI off course you cant expect them to give you a comforting truth so a comforting lie should suffice you! And PayPal Ow man no shit a multinational company failing to inform and notify of an issue of this magnitude. That was an AWESOME combination of pure frustrating, destroying trust & spreading chaos.
D) So what does PayPal tell us now?
ANS: “We are sorry, but your valuable to us so please give us another opportunity to goof up and play some more engaging games with your money” and “We just love to make more profits by giving you a pathetic exchange rate”
D) What now?
ANS: DTA (Don’t Trust Anyone) Get your sleeves up against them and find your own ways to get paid over any other medium that serves better, communicates better and keep them in plenty. If one fails other should work out.
Ive let all my clients know about this issue and advised them (in advance unlike PayPal) to switch over to some other Payment system which is reliable, responsible and does the main thing “ACTION” at PAR. The truth will probably be dead and berried RIP about what happened because the shame and disgust they bring upon themselves is apocalyptic now.