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Hi friends , Normally all funds withdrawn from Paypal to our bank account are credited within 3 to 5 days .
I have withdrawn some funds on 19th feb 09 .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

[bollywood2hollywood]

Hi All,
I am also facing the same problem. 4-5 of my withdrawals are pending with paypal since January 26th. I have not received any mail tll now from paypal. God knows what will happen to our hard earned money.

Regards,
Ram Kishan.

[everything4u84]

Hello,
Like to give you some updates about paypal issue or Reversal of your funds and delay in payment coming to our bank account.
The reason is RBI asked PayPal to submit certain documents, Although PayPal provides money transfer service to and from India, neither the company nor its account holders pay any tax on the transaction. Many Indian account holders ask their payee to make the payment as a ‘gift’ rather than payment for services to avoid PayPal fees. When contacted to know about the PayPal issue, an RBI official said.
That is the reason why the Good and Service Payments are reversed and remaining commercial payments are safe.

As per infromation Paypal is trying to resolve this issue as soon as possible dont know when it will be resolved 😞
I am just worry that it should not stop Paypal permanently in India.
Thankyou,
Priya

[victoria_edward]

Indian officials want money.Shift capital to B'lore from Delhi.This vicious cycle will not recur again.

[pc_gaming_store]

Our payments are on hold too since January 26. The worst part is that it shows 'Complete' in the PayPal account but the funds have not reached our bank account.

Our Account Manager was kind enough to give us notification of the same. We thank him for the same.

However, PayPal never bothered to inform us. That is sad. This is a gigantic concern for Indian sellers. We hope eBay India actively follows up and not display the lethargic history of resolving problems that is so synonymous with them.

By the way, PayPal customer support is completely unaware of this. If you call and ask PayPal, they will say it shows as 'Complete' and the problem is with our bank. Yeah right!

[amitava123gems]

I pray to God that Prez Obama helps us out.

[pc_gaming_store]

Would also like to add that one of the reasons this problem arose was because a lot of people were requesting money falsely under 'services' rather than 'goods' from India.

So while partly it is PayPal's fault (they have been known to circumvent local laws), it is also because quite a few have misused certain PayPal privileges. So in way we are paying for the felonies of our fellow countrymen (one more reason why you should be honest and follow the law).

[amitava123gems]

Hi,
We dont circumvent any law.
I accept British Postal Order,deposit at bank,bank deducts its charges and gets it cleared.
If there be any fees for wire transfer,bank would have deducted that.
I dont understand what is PayPal's fault.
Indian officials look out every chance to squeeze indian citizens.There is no law to squeeze us right now.So they are putting up hurdles so that we dish out something.If there be any legal fees,then take that and release our honest bucks.As simple as that.
Thanx,
Truly,
Amitava
PS:Who will pay for my medicines?Why should an old man be made a scapegoat?

[pc_gaming_store]

I don't have the exact details, but like you said PayPal has to pay some fee to the Indian Government (or deduct it from us), and they haven't.

Yes, we shouldn't suffer for the same. We hope PayPal/eBay resolve it fast. It should not be the case of the PaisaPay Online Bank transfer in which till date ABN Amro/UTI is "temporarily" not accepted 🙂

[stylish_india]

I want to withdraw my funds but I am scared now:-(

[gehna.gioielli]

Dear All,
Hello,

This is very serious matter for all, who sells internationally and accept payments via PayPal.
The bad news is that RBI has hold the money transfer facility from PayPal to Indian banks.
No one has answer how long this matter is going to take to resolve and till that, there will be no deposits done by paypal.
The PayPal and eBay saying that they have continued the commercial payments but I excused, I receive all my money via creating invoice. Not as gift or service, but still I do not got the funds into my bank account which I withdraw on 27 Jan, 30 Jan. 2010 to my current account. I am a premier business paypal account holder but still no money transfers were done to my bank account.
It’s really horrible part of PayPal.
Most of all sellers who withdraw fund after 26 Jan has not received the payment to bank accounts.

Why not paisa pay started accepting funds globally? what’s the matter If we are doing an legal business through ebay, why they do not accept international payments on eBay.com sites? like PayPal?

After all the invoice payments we pay monthly goes to eBay switzerland account. Than whats the problem for Paisa Pay to accept International funds? Like other gate ways - ICICI, Axis Bank, HDFC Bank all they accept international credit cards.

If anyone has any updates please share here......
Again I request eBay team. Start accepting payments through paisa pay at eBay.com site for Indian sellers.
We cannot depend any more on PayPal for our payments...

Thank you.

With Best Wishes.
Kapil.K