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Hi friends , Normally all funds withdrawn from Paypal to our bank account are credited within 3 to 5 days .
I have withdrawn some funds on 19th feb 09 .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

[pc_gaming_store]

@Sushant: Thanks for answering the queries.

@usa19: As Sushant said, issue will be resolved soon, so please wait. As someone else had suggested, if you do not have enough working capital to ship out the items until your funds arrive, then it is advisable to issue a refund rather than face Negative Feedback. As Sushant said, don't delay shipments as foreign buyers will not understand this issue. For them, they have paid you.

[pc_gaming_store]

@everything4u84: That's shocking 😮 We really hope we don't face the same situation.

[cosycom]

Hi priya ,everything4u84 , same case here , all my withdrawls since 28th Jan onwards are reversed back in my paypal account at lower paypal rates ,I have also suffered a loss of about USD120 .

No message from Paypal yet . dont know when we will be able to withdraw the same & how ........ I have already shipped some orders & some are almost ready for dispatch .
hope to hear a clarification message from eBay pinks soon.
meanwhile all concerned pl. keep us updated on the issue.

regards

Narinder

[everything4u84]

Hello pc_gaming_store,
I hope sellers dont face the same problem as I am facing, however I still request all sellers to kindly check their respective paypal account as paypal has reversed the amount back.
Regards,
Priya.

[bollywood2hollywood]

Hi All,
All my 5 withdrawals since January 27th have been reversed to my bank account today. The paypal has credited Rs 500 less for each withdrawal. So in total my loss is around Rs 2500. I dont know whether paypal will credit the amount back to my account. Please update.

Regards,
Ram Kishan.

[azim.ali]

How do we proceed to file a legal case against PayPal for resorting to such fraudulent means?

Unfortunately India is not registered with the econsumer other wise we could have got some help from there.

If we all don't do anything, then PayPal will routinely do this and we all will be helpless.

PayPal is not just insecured for sellers but it is almost like an advanced Nigerian Scammer type organization.

[azim.ali]

Please let us all unite and file a legal case against PayPal.

[cosycom]

Hi Friends , I have just communicated with Mr. Navin at ebay india . He has assured restoration of paypal functions as earlier in next few days . We may also get transaction charges credited back in our accounts.

Yes it is uncertain situation at sellers end but lets hope for the best & cooperate with eBay India Team to help them resolve the issue at the earliest .

Regards

Narinder

[benzasia]

Hello can anyone tell when will money get credited all our business have come to stand still and will ebay india help beacouse paypal is not giving anytime frame at all show we sell or hold at the moment..

[pc_gaming_store]

What the hell! Our funds were returned today and we received Rs. 17,936 less!

What's worse, they will re-charge fees when we re-withdraw, so the damage is double. The two-timing thieves!

We did an analysis and this is why money has been cut:

When you withdraw money, PayPal takes a currency exchange commission of around 3.5%. This is normal practice. Even banks do it when you make an international purchase.

So let's say exchange rate $1 = Rs. 100. When you withdraw one dollar, assuming PayPal charges 0 transaction fees (this is different), PayPal will take exchange rate to be Rs. 97.5 and put in Rs. 97.5.

Now, if a payment is returned, ideally Rs. 100 should go back cause the cross conversion never took place. So did they return the Rs. 97.5? No, instead, the sneaky hounds, took the latest exchange rate, and on that cut a further 3.5%.

So lets say on 97.5, they cut 3.5% on that and returned 94.09.

When we re-withdraw, as always, they will cut on 94.09. So imagine the loss!