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Hi friends , Normally all funds withdrawn from Paypal to our bank account are credited within 3 to 5 days .
I have withdrawn some funds on 19th feb 09 .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

[kishor.nayak]

Thanks possibleblue.
We all need paypal, so our representative(ebay sellers group) will talk to ebay and paypal and find out why this delay? we will talk to RBI and media and highlight how many thousands of paypal account holders in India are suffering, give details on thousands of dollars held up...
Media can really move things for us...
ebay sellers having good contacts can really help in this situation.

[real.phoenix]

We can report this to some national daily newspaper. I have already reported to a local newspaper in ahmedabad and I am waiting for them to print the news.
sellers who are in places like Mumbai or Delhi can do a lot to bring it to media's attention.
The address that you have provided is that of the development center (where all the software professionals make the codings). It is not a business address where such issue can be reported.

[amitava123gems]

Hi Rashida,
I see you got a shop.
Go to ebay US site and list at fixed price/store inventry.That costs less than or equal to eBay India.You get automatic international exposure.Do it and check your items at say Singapore.Then you know.
I cant afford ILF right now.I dont spend a dime unnecessarily.
Dont worry about PayPal.Your money will be in safe hands.And this issue will be solved any time.
But dont give up eBay india listings.You get the PaisaPay and the good service along with INR.Also if you are in trouble,Navin Mistry or Sushant can help you.
Thanx,
Truly,
Amitava

[blindsncurtains]

Hi Friends.

All of you are discussing about press. But on the valentine day I think all were buzzy & no one has read the news paper properly.

I would like to Inform you all that there was a small news about this on 14 February 2010 in Times of India New Delhi edition, on page 11 (Times nation).

They have reported this issue, it reads : RBI ops ops remittance to India.

New Delhi : Online money transfers service provider Pay-Pay has been asked by RBI to stop orations in India.
RBI spokesperson said according to regulations .............................will be suspended for least few months until the company fully resolves all licensing issues........

This is a BIG issue it will take time (few months) to come back to normal.

Alex

[skygiftworldwide]

Hi all,

Just to inform you all that I was not having any problem using Xoom service before to withdraw funds from PayPal to my bank account.

But now, I withdrew funds on 22nd Feb and today the transaction has been cancelled and full refund credited to my PayPal account without giving any reason. Most probably now RBI has become strict on transferring funds to Indian Banks from abroad sources.

Why PayPal is taking such a long time to resolve the issue with RBI?

Withdrawing funds by Cheque is unsafe, because first of all it takes 20-24 days to reach, secondly it is despatched by normal unregistered mail and thirdly it takes 7-10 days time to clear the cheque.

So, just leave our hard earned money with PayPal and wait, wait and wait till the issue is resolved...

Regards,

[amitava123gems]

Friends,
I am from Calcutta.I know how many young kids from Calcutta died in Pune blast.Grovernment cant protect our lives.Government creates more problem for common people.RBI should have given reasonable time before doing this.God knows how many more innocent lives have been lost because of this crazy hyper action.Some people could not pay hospital bills.Serious patients could not buy medicines.
Killawala does not bother because her and her family's medical bill is paid by Government.
Can we not unite and force RBI to act fast?
Thanx,
Truly,
Amitava

[mathaindia]

Hello - we're also in difficulty with big paypal balance accumulating...we've requested cheques because it seems there's no other way...it could take 2-3 days like the ebay people keep saying - it could take months.So far they havent refunded the 5$ does anyone know how long it takes?
We've worked out another option that we're just trying out but it will only help people who have family or friends abroad....I'm getting UK pound ebay payments to go to UK paypal ID - then to UK bank. Then I get the money sent to India via HDFC quickremit - it only costs 25ruppess and the exchange rate is 2 rupee higher than paypal...it should only take 3-4 days...
sorry that can only help people with relatives abroad but I thought I'd mention it in case....

[everything4u84]

Hello,
One update currently Xoom is also facing same problem as Paypal transfer to Indian bank account is stopped 😞 from 21 feb 2010, really a sad news.I don't know if their cheque option is still working Please update if any one has any information.

Priya

[kishor.nayak]

Dear Friends

I remember GTB fiasco, We were all anxious, but Indian Government was quick and OBC took over GTB, not a single penny was lost.

In this case, even though thousands of paypal account holders are in trouble, no media attention, no comments from anyone in the government.

Finance Ministry could have asked RBI to give paypal some time to get the necessary clearances, PAYPAL services are needed in India.

I just hope that the paypal cheque will be sent by reputed courier. Earlier we used to get ebay cheques by blue dart courier, excellent service, i never lost even a single cheque, the cheque was paypable at par.

[possibleblue]

Dear Friends.
I have a small suggestion to PayPal.....
PayPal has announced, if we withdraw money through check they will refund the shipping charge of US $ 5 .

My suggestion is...we sellers from India is ready to pay 15 to 20 US $ TO PAYPAL ...we just request PayPal to ship our check through reputed courier from US. So the check will reach us within 4 to 7 days time.
I hope our Indian sellers will agree with my suggestion.