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Hi friends , Normally all funds withdrawn from Paypal to our bank account are credited within 3 to 5 days .
I have withdrawn some funds on 19th feb 09 .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

[3dcollectibles]

I have requested for WITHDRAW to Indian Account on 10th Feb. The Withdrawl status is showing COMPLETED but 10days has passed there's no sign of the fund in my account.

I have contacted paypal many times and everytime it is mentioned resolution is being made and would be resolved in a few days. 10 days has passed and no resolution (refund or fund credit) has been made till date.

I wonder why Paypal has not turned off the WITHDRAWL button if they have issues with the RBI??? Now paypal is not refunding the paypal & nor crediting the money to bank account. They are mentioning they dont have the funds with them but it is with the Bank people to which we have transfered. I wonder how it is possible to hold the amount so long?????

I hope paypal is playing safe and not be the case of like Payment processor STORMPAY where I have lost more than $5000 being the similar kind of case few years ago...

Deepak

[3dcollectibles]

People having PAYPAL and wishing to withdraw to Indian Bank Account should try out with the XOOM where you get the money within 24hours in the bank account.

If you are new to XOOM then you would get verification call about your business and you should give details of the funds you are getting from such as selling on ebay along with your seller id,etc.

Forget about paypal withdrawl to Bank account and try the XOOM instead where you would also get more amout in conversion than Paypal. Paypal gives less Rs 1 per dollar than the XOOM.

Deepak

[krishnagemz]

Hello Everyone,

As we are all not quite sure what all is happening between Paypal & RBI,so there isnt any better option available than just to keep ours fingers crossed & play a WAIT N WATCH Game.
Until now i appreciate that we have all been earning from the same platform,but this time we are only facing new problems day by day,& this PROLONGED WAIT is just creating more & more hassles for everyone..

I do have my 100% trust on ebay & paypal staff,but I STILL REQUEST THEM TO GIVE US REGULAR UPDATES regarding what actually is going on & how long we do we have to wait now,so that we can plan things ahead accordingly,as the stakes are high,& the level of patience is just decreasing.. It will be a great help if they keep us up to date.. EVEN THE WIRE TRANSFER of all our amount in 1 time is also a good solution instead of breaking them into parts..

Recently i was not able to pay my monthly ebay fees because of the lack of funds in my account,so ebay has put my account on hold & clubbed the invoice for 2 months instead of 1 which was due on 15th feb,i request Ebay India to PLEASE EXTEND THE INVOICE DEADLINE or do something to address this issue ASAP,other sellers may also be facing this similar problem.

I even tried xoom transfer 4 times in 4 different ways to get the funds into my account,but here is the message that i get:

Dear Valued Customer,
Thank you for choosing Xoom to send your money transfer!
Unfortunately, we have refunded this transaction, as the intended money transfer has been identified as Intra-India, and the indicated disbursement is not permissible by Indian law.
If you have any questions, please contact us at: www.xoom.com/support
Respectfully,
Xoom Compliance Group

So now all hopes are set on EBAY/PAYPAL Staff,RBI & GOD to help all of us as soon as possible..
MAY GOD BLESS ALL..
HARE KRISHNA..

[amitava123gems]

Hello Dear,
Ebay UK allows escrow.Is any option/system to add xoom in the listing?
Till now I have trust. But how long?
Thanx,
Truly,
Amitava

[shivaexportsindia]

Hi Friends,
Kind Greetings,
Yes, I am agree that Paypal/Ebay is doing whatever they can do to resolve this issue with RBI or whatever but as a International company, they have a lot more funding options such as wire transfer, international check etc.

Here the problem is taking some extra time so they should allow us to withdraw unlimited amount check etc Or issue a wire transfer of any required balances to our Company Account/Personal account.

Almost all ebay shopers as well as exporters are registered with State Sales Tax and Ministry of Foreign Trade, also following the legislative rules and regulations.

Please share your thoughts.

[kishor.nayak]

Hello Friends

I agree with krishnagemz at least paypal should keep us updated on a regular basis. Replies like " At this time we do not have a specific date for resolution to this issue" will only lead to speculation.

This is not right when thousands of people are in trouble, this can only happen in India!!

I am lucky in one aspect, this issue came up just before I planned to expand my business overseas, now only small money is stuck.

[highskyindia]

As far as I can understand, this issue will last for a couple of months at least, so my advice is prepare your self accordingly

[silvergemstonejewelry]

Hey,
Has anyone got any clue, what is happening regarding this issue. The situation is getting panic.

Atul Dua

[amitava123gems]

Pound has lost nearly 10 bucks over last few months.Bad news all round.

[real.phoenix]

Dear Amitavaji,

The great news is that Australian Dollar and Canadian Dollar is getting stronger. Good news for those who list on these sites!!

Regards,
real.phoenix