Delay in PayPal Funds Transfer

[cosycom]

Hi friends , Normally all funds withdrawn from Paypal to our bank account are credited within 3 to 5 days .
I have withdrawn some funds on 19th feb 09 .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 .:(

Regards

Narinder

[highskyindia]

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You can do this by logging in pay pal account and choosing funds withdrawn in INR,just check if the transfer was successful from thee end , if Yes then give a formal complaint to ICICI bank,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

[skygiftworldwide]

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 I have withdrawn funds recently on 1st March and estimated deposit time is on 8th.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

[stylish_india]

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.

[venusjewellers]

hi the same complait here,, i have withdrawn the funds from pay pal to my icici account on 21 feb 32526.18 paise..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,,

[tirupati_fashions]

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 .

[jaipur_mart]

me too facing the same problem...:-(

[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

[tirupati_fashions]

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

[tirupati_fashions]

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 .