Paypal India Problem - Money not getting transfered to Bank Accounts
Paypal seems to have strange problem - all the money withdrawl that took place from 21st of February to 25th of February have not completed for Indians.
So if you are an Indian and have asked for money withdrawl from your paypal account to your bank acount from 21st of February to 25th of February, by now you must have realized that the money hasn’t reached your bank acccount.
In case you are one of the victims, you need to call paypal at their telephone number, which is 1-402-935-2050. They already know the problem so you won’t be required to speak much though as usual, paypal voice system does take lot of time to recognize your voice.
By the way, here is a small tip to save time on paypal IVRS, just say Agent and it will directly take you to humans instead of keep on giving you optoins.
Once you talk to their support, things should be fine. They will get the money back into your paypal account (it can take couple of days) and then you can withdraw it. Infact the withdrawl is working fine now.
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4 Responses to “Paypal India Problem - Money not getting transfered to Bank Accounts”
1Hanen on Feb 22, 2010 :
Hi
Xoom is not more working. My transfer was also cancelled, so i contacted them and got this email:
Dear Valued Customer,
Thank you for choosing Xoom to send your money transfer!
Unfortunately, we have canceled and are in the process of refunding this transaction identified as Intra-India. Current regulatory restrictions are the reasons for the cancellation. There are options to withdrawal your funds via Paypal, see the following link to assist in this matter https://www.thepaypalblog.com/2010/02/an-open-letter-from-farhad-irani-on-the-situation-in-india/
We have no time frame, when these restrictions will be lifted. you may check back in 2-3 months.
Respectfully,
Xoom Compliance Group
I also called them on this number 01242575678 and she confirmed that they changed their policies
Any idea what to do now?
2Abhimanyu on Feb 24, 2010 :
hi Hanen, it is indeed unfortunate, you can set up a 2CO account if you are getting lot of money otherwise use paypal check withdrawl option.
3Anirudh K. Mahant on Jul 29, 2010 :
YET AGAIN PAYPAL IS STOPPING ELECTRONIC FUNDS TRANSFER BEWARE GUYS……… WITHDRAW YOUR FUNDS NOW!!!!!
Orig article at PayPal offcourse you gotta take the pain in the rear to find it your self:
https://www.thepaypalblog.com/2010/07/update-on-paypal-accounts-for-india-users/
————————
Hello Zoe,
Good morning.
I wanted to make sure you aware of a notification that was sent yesterday to customer’s in India. I have included the notification below.
In accordance with regulatory instructions, we would like to notify you about a change in our withdrawal functionality in India starting on August 1, 2010. At present you can request for either an electronic or cheque withdrawal of funds from your PayPal account if you are an India user.
From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.
While we are working hard to restore the electronic withdrawal service, in the meantime, we are bringing this matter to your attention so that you can plan your future withdrawal activities accordingly.
To request for a cheque withdrawal:
1. Log into your PayPal account, click on ‘Withdraw’.
2. Click on the ‘Request a cheque from PayPal’ link.
3. Enter the withdrawal amount and select your mailing address, then click ‘Continue’.
4. Click ‘Submit’ to confirm your request.
In order to help you with this change and until further notice, we will refund the $5 USD cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.
For any questions, please log into your PayPal account and click ‘Contact Us’ at the bottom of the page.
We apologize for any inconvenience caused from this change in our withdrawal functionality. We will provide ongoing updates to you here. We thank you for your attention and patience as we work tirelessly to resolve this situation as quickly as possible.
Please let me know if you have any questions regarding this change.
Sincerely,
Carolyn Anderson / Merchant Account Manager
direct 866-923-3778 / cell 402.960.9871
fax 303.395.2821
office hours 7:30 AM – 4:00 PM CST Monday – Friday
4Nishad on Jul 30, 2010 :
Why RBI always opening issues for paypal. its really a big problem for those who accepting paypal on online presence. as Abhimanyu told above, we need to look for alternative, but cant think for an alternative because, i always trust paypal and this problem is not because of paypal but of RBI, i hope paypal will overcome this issue soon. Hope for the best and stay with paypal . Let them do the best they can