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Hi friends , Normally all funds withdrawn from Paypal to our bank account are credited within 3 to 5 days .
I have withdrawn some funds on 19th feb 09 .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

[real.phoenix]

Kudos to all of you. I am still waiting for the check to arrive.

[stylish_india]

Oh that's a great news:-) !!!!!!!!

[mobilesstores]

I also received the money in my account within 5 days of asking for a withdrawal (weekend included).... Great Job Paypal

[jaipur_mart]

but do we now need to send all shipments commercial??????????

[real.phoenix]

Please refer to the thread - FAQs for International Sellers

I had a great interaction with Sainath Pai and Jinesh during the seller meet @ Ahmedabad and it cleared almost all the doubts related to International selling on eBay.

I request all the sellers to contribute to this forum so that we can share our knowledge and increase our business on eBay.

[mobilesstores]

This is the 2nd time i withdraw 1000USD and it got transfered in my account in 3-4 days. Amazing service. Thanks Ebay and Paypal!!

I would advise those who havent to go ahead and withdraw without any fears.


My cheque withdrawn 15 days back however still hasnt been received.

Thanks,
Mobilesstores

[real.phoenix]

Hope all of you are back in business now.

[cosycom]

Doodh ka jala chach bhi phoonk phoonk kar pita hai
I am still not sure what Paypal, RBI and eBay are upto ......

There are no clear instructions issued by eBay pinks in this regards till date. I am not going to use Paypal till ebay India issues a clear message to sellers in India .

Information required is :
(1)who can use Paypal ?
(2)what is process of receiving a FIRC from paypal ?
(3)what will be paypal charges for issuing a FIRC ?
(4)what records we need to maintain ?
(5)our obligations towards Paypal, eBay & RBI for funds received through Paypal .

Also it is not yet clear if Paypal need to issue an FIRC for funds received from overseas customers then why PaisaPay is not required to issue the same ?????
what is the diffrence between PaisaPay & Paypal transactions >>> both are receiving funds from overseas & issuing to ouer accounts in Indian Rupee.

regards

Narinder

[real.phoenix]

1. Who can use PayPal?
All eBay sellers can use PayPal. All the freelance software professionals, data-entry operators, work-from-home professionals can use PayPal.

2. what is process of receiving a FIRC from paypal ?
The FIRC is issued by the Bank and not PayPal. FIRC is issued per remittance and not as per the sale. So if you sell USD 1.00 value items like me, you can withdraw USD 500.00 and for that a single FIRC will be issued by your bank. There wouldn't be separate FIRCs for each and every selling transaction on eBay.

3. what will be paypal charges for issuing a FIRC ?
Bank charges approximately Rs 150 to Rs 200 per FIRC.

4. what records we need to maintain ?
We need to maintain following records:
1. Our purchase invoices from the distributors from where we purchase our goods to sell on eBay
2. Our eBay invoice for every selling transaction on eBay
3. PayPal payment proof for the receipt of the payment related to every sale.
4. Receipt from courier / post office

Suppose you sold one 2 GB SD Memory card for USD 15.00 (free shipping)
You need to maintain -
Your purchase invoice for 2 GB Memory Card ( in bulk or single purchase)
eBay invoice as provided to the buyer
Proof of payment that buyer paid for that item (PayPal page's print-out)
Courier receipt/postal receipt

You need to maintain all the copies in physical form (hard copies). It should be well maintained and filed for each and every transaction on eBay.

If you sell 200 2GB SD Cards on eBay then you should be able to provide the purchase proof to support the sale

5.Our obligations towards Paypal, eBay & RBI for funds received through Paypal.
To receive funds from PayPal
1. PAN Number
2. Declaration that we are withdrawing money against the export of goods and services.

Obligations to RBI
1. PAN Number
2. Business Registration - VAT and Sales Tax Number
3. Current Account
4. IEC

6. PaisaPay and PayPal are same in terms of operations when PaisaPay is used to receive money from abroad. A person cannot escape all the legalities if they claim to use PaisaPay.

If you receive money in Foreign Currency, then you are obligated to fulfill the requirements as I have mentioned - Nothing less, Nothing more.

Hope this clarifies your doubts.

[isis_19]

Hello Everyone,

I made a withdrawal on 10 March 2010 at 07:30 PM IST from paypal account to ICICIBANK account but till today not received any money in my bank account.I think there is again some problem.What next?:-(