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Community Member
Posts: 943
Registered: ‎04-11-2005

Delay in PayPal Funds Transfer

Hi friends , Normally all funds withdrawn from Paypal to our bank account are credited within 3 to 5 days .
I have withdrawn some funds on 19th feb 09 . Paypal shows funds already transfered but they are not received in my ICICI account till date . Anybody else also facing same problem ???????

Paypal seem to have an office in India but their address and contact information is not available anywhere .:smileysad:

Regards

Narinder
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Community Member
Posts: 159
Registered: ‎18-11-2006

Delay in PayPal Funds Transfer

in reply to cosycom
Hello,
Initially the funds transferred, were in our accounts within 2 to 3 days but now in some cases they have taken up to 5 days , but that's the MAX, 19th Feb till date is long time and there is something wrong,
First check that has the transfer been successful or not ?
You can do this by logging in pay pal account and choosing funds withdrawn in INR,just check if the transfer was successful from thee end , if Yes then give a formal complaint to ICICI bank,
Kindly keep us updated

Regards
Akash
ForHighskyIndia
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skygiftworldwide
Community Member
Posts: 959
Registered: ‎04-09-2006

Delay in PayPal Funds Transfer

in reply to cosycom
Hi Narinder,

PayPal has its office at Singapore for Asian users and not in India. My last deposit to my HDFC Bank account was on 26th Feb and was in perfect time of 5 days. I have withdrawn funds recently on 1st March and estimated deposit time is on 8th. I will inform if I receive it.

Regards,
M.Zaman


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Community Member
Posts: 420
Registered: ‎28-05-2008

Delay in PayPal Funds Transfer

in reply to cosycom
Hi Narinder
Oh that's shocking... I am afraid to withdraw my funds from paypal. Hope you get your money soon. Keep us updated regarding this issue.


Custom Logo

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Community Member
Posts: 13
Registered: ‎01-02-2009

Delay in PayPal Funds Transfer

in reply to cosycom
hi the same complait here,, i have withdrawn the funds from pay pal to my icici account on 21 feb 32526.18 paise..
till date no money in my account,,
i am really afraid about my money,,
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Community Member
Posts: 175
Registered: ‎02-10-2008

Delay in PayPal Funds Transfer

in reply to cosycom
yes there is a problem

I ususally withdraw every second day
Several of my payments are stucked with paypal . and one more surprise
I withdraw a amount on 2nd of mar around 1.OO am and i got credited today 3rd of march

I made 2 withdrawals on 21st and 2 on 27th feb but these are not credited yet in my bank account where as withdrawals on 23rd, 25th feb are credited

I sent them mail and got reply to wait atleast 5-7 days .I called them and they suggest me to contact my bank . With out any payment reference number how our bank will trace the payment for this they have no reply


@ akash ( highskyindia) Can You make a complaint to bank without any payment transfer reference number . Bank will simply ask for transaction number .
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Community Member
Posts: 216
Registered: ‎24-07-2006

Delay in PayPal Funds Transfer

in reply to cosycom
me too facing the same problem...:-(
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Community Member
Posts: 943
Registered: ‎04-11-2005

Delay in PayPal Funds Transfer

in reply to cosycom
Hi friends , It is disturbing to know that many of us are facing same problem .I have reported the delay to Paypal yesterday and a reply is awaited .

Jaipur mart ,tirupati fashions , pl. inform the name of your banks also so that we can know if the problem is at our bank or with Paypal.
My account is with ICICI and venusjewellers also informed that they have account with ICICI.

Pl. everybody keep this thread updated on this issue so that we can help each other .

Regards

Narinder
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Community Member
Posts: 175
Registered: ‎02-10-2008

Delay in PayPal Funds Transfer

in reply to cosycom
I got a reply from paypal

Hi Tirupati! We do apologize for the inconvenience this may have caused you. We understand your frustration regarding this matter.


~ Electronic transfers to your bank account usually take 5-7 business
days to process. Holidays and weekends are not recognized as business
days for most banking facilities, which may result in a delay in your
banking transactions.

The status of your withdrawal is 'Completed', which means it has
completed through the PayPal system. Please note:

* PayPal has no control over the length of time it takes your bank
to post their credits, and we do not receive confirmation when your
credit has been received by your bank

* Usually, if there is a problem with the transfer completing, it is
rejected back to PayPal and the funds are reversed back into the PayPal
account

* At this time, this transaction has not been rejected back to us.
Therefore, we suggest that you contact your bank and ask to speak with
someone who works with Electronic Funds Transfers. This Department
should be able to verify that your deposit was received.

* If you are unable to locate the deposit at your bank, and the
status of the transaction is still listed as completed, we can initiate
a trace on these funds once 14 business days have passed. In this case,
please contact us and our Customer Service will provide all the
information to initiate the trace procedure.

We do apologize again for the inconvenience.

We appreciate your patience and understanding regarding this matter, and
wish you continued success on PayPal.

Sincerely,
Elaine

PayPal, an eBay Company


@Narindar : My bank account is in HSBC bank
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Community Member
Posts: 175
Registered: ‎02-10-2008

Delay in PayPal Funds Transfer

in reply to cosycom
I talked with My Bankers HSBC bank and they told me that NEFT payments can not be held for a week or so . It is either credited to account or returned to sender with in 72 hours .

I think problem is with paypal system .
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Community Member
Posts: 216
Registered: ‎24-07-2006

Delay in PayPal Funds Transfer

in reply to cosycom
my bank is Bank of baroda.
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Community Member
Posts: 159
Registered: ‎18-11-2006

Delay in PayPal Funds Transfer

in reply to cosycom
Hello,
Yes you are right(tirupati_fashions ) we do need a RBI transaction number, and definitely there must be one, as paypal holds a Rs. account with Citibank India because earlier the cheques they use to send were drawn on Citibank,
I think we should try and get the RBI ref. number from them.

By the way I feel that I am also in the same boat , as my last transfer was requested on 26th march and till date hasn't been credited.

My God, working will be impossible if we can not withdraw our funds from paypal.

also i am sure that the problem is from paypal,s end.

My Bank is ICICI bank


Can this be a effect of recent recession going on and heavy losses of Citibank, I hope you guys know that Citibank is under a very heave financial loss.

Regards
Akash
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Community Member
Posts: 13
Registered: ‎01-02-2009

Delay in PayPal Funds Transfer

in reply to cosycom
YES THE SAME REPLAY MAIL I GOT FROM PAY PAL ONCE I MESSGE TO PAY PAL CUSTOMER SUPPORT,, I AM REPEATEADTLY ASKINHG THM NEFT REFERENCE NUMBER,,
THEY R JUST REPLYING ME TO WAIT FOR 14 DAYS THN WE WILL TAKE UR COMPLAINT OF TRACING FUND,,
REALLY RIDICULOUS FROM PAY PAL,,
ON CALLING ICICI THEY R ASKING ME PAY PAL ACCOUNT NUMBER AND RBI REFERENCE NUMBER TO TRACE THE AMOUNT,,
REALLY FURSTRATING THIS YAAR FRM PAY PAL..
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Community Member
Posts: 657
Registered: ‎27-06-2007

Delay in PayPal Funds Transfer

in reply to cosycom
Dear cosycom & all other members,

I understand from this discussion that some of our sellers are facing an issue while withdrawing funds from their Paypal accounts to their Personal bank accounts.

I've escalated this issue as a matter for concern to the respective team and I'll update the thread once I've an update to share.

I request all the members to be patient.


Keep Posting!!


Regards,
Indraneel
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amitava123gems
Community Member
Posts: 1,964
Registered: ‎26-08-2005

Delay in PayPal Funds Transfer

in reply to cosycom
Hello Indraneel,
Thanx for escalation.Only you care for helpless oldys like me.
Show patience we are forced to do.Last time it was 14 days instead of promised 10 days and this time 3rd march,the promised date, was yesterday and it does not show even today.
My bank pple talk obliquely.
They can afford to because their transfer is within a second.
Thanx for escalation again,
Truly,
Amitava
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Community Member
Posts: 4
Registered: ‎04-03-2009

Delay in PayPal Funds Transfer

in reply to cosycom
I hope all sellers will get their money soon. That's really so sad to know. How come paypal be so careless ?
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Community Member
Posts: 159
Registered: ‎18-11-2006

Delay in PayPal Funds Transfer

in reply to cosycom
Hello Amitavaji,
very correctly said,

Just an update nothing received so far

Regards
Akash
for highskyindia
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Community Member
Posts: 1
Registered: ‎04-03-2009

Delay in PayPal Funds Transfer

in reply to cosycom
you are very right buddy.....now i'm going to quit using ebay...these people are just wasting time n money...don't know where they make use of our money...making us fool..

Such a bad experience... i had made a payment on feb 15, but the seller was fraud. 1st of all ebay didn't took any action against him and above this not refunding my money back to me.

its 20 days completed..
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Community Member
Posts: 175
Registered: ‎02-10-2008

Delay in PayPal Funds Transfer

in reply to cosycom
another day goes without any credit from paypal ...

I think paypal is waiting for Rupees value increment against dollar price ..the day I had make withdrawal it was 48.95 and and today it is touching Rs 52
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Community Member
Posts: 175
Registered: ‎02-10-2008

Delay in PayPal Funds Transfer

in reply to cosycom
Here are RBI answers about NEFT payments

What is the funds availability schedule for the beneficiary?

Ans : The beneficiary gets the credit on the same Day or the next Day depending on the time of settlement.

Whom I can contact, in case of non-credit or delay in credit to the beneficiary account?

Ans : Contact your bank / branch. If the issue is not resolved satisfactorily, the Customer Service Department of RBI may be contacted on nefthelpdeskncc@rbi.org.in or write to -

The General Manager,
Reserve Bank of India,
National Clearing Centre
First Floor, Free Press House
Nariman Point
Mumbai – 400 027

Is there any way a remitting customer can track the remittance transaction?

Ans : The remitting customer can track the remitting transaction through the remitting branch only, as the remitting branch is informed about the status of the remitted transactions.


http://www.rbi.org.in/SCRIPTs/FAQView.aspx?Id=60
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