PayPal is currently facing some issues while transferring funds to Indian bank accounts
Yes you read it right. We just got a comment in morning where one of our readers, Sujit, who faced an issue while transferring funds from Paypal to his Indian bank account . He shared the Email with us which I am posting below :
Update :
Comment from Sujit : I just talked with my friend who works for PP’s back office here @ Chennai. The delay is because RBI has requested documents from PP a month back and now that PP failed to produce it, RBI just sent back the NEFT money to PP. Only after PP woke up and sent the documents. Now, all our funds have already been sent to PP’s clearing house. I hope that we get the money in 2-3 days (excluding the weekend days)
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PayPal is currently facing some issues while transfering funds to indian bank accounts. It may take 7-10 more days for the funds to reflect in your accounts if you tried to withdraw after 30th January 2010. I got a mail from paypal which says
==>>Date: Sat, 30 Jan 2010 14:00:12 -0500
From: paypal@paypal.com
To: XXXXXXXXXXX
Subject: Notification of Withdrawal DelayPayPal
Dear XXX YYY,
We are currently experiencing an issue processing withdrawals to Indian bank accounts. As a result, there may be some delay in withdrawals from your PayPal account to your bank account.
We apologize for any inconvenience this has caused, and are doing all we can to resolve the issue.
Thank You,
PayPalCopyright © 1999-2010 PayPal. All rights reserved.
Consumer advisory – PayPal Pte. Ltd., the holder of PayPal’s stored value facility, does not require the approval of the Monetary Authority of Singapore. Users are advised to read the terms and conditions carefully.
There is nothing you can do as of now but wait till the issue is resolved by Paypal Itself. In case you try doing it now your payments will be returned back as confirmed by Nirmal on his Tweet
Related : Seven things you should know before calling PayPal
Posted on 4th February 2010 by Ashish Mohta , A Professional Tech blogger, Editor and Writer who talks about solving day to day problems of people who use computer. His expertise are in Windows 7, Windows Server 2008 R2, Windows Home Server, Microsoft Office, Softwares. All posts by Ashish Mohta | Connect with me @ Twitter | Linkedin | Facebook | Stumble
Yes, it is a fact and I am facing the same problem as well. The payments I had received have been reversed back to the senders, causing inconvenience. I can do nothing but wait until they are again sent by the senders
I appreciate that you shared the problem on the blog. But if bank withdrawal requests can not be processed then it is showing as “Completed” after processing the request. PayPal should return back the funds to the user’s account. User will still have the option to go for a “Check” withdrawal request.
Many Indian including me are in deep trouble due to this problem. I believe PayPal should think about the suggestion give above. You should help your customer so that they can rely on you in future.
I am facing the same problem, I withdraw funds on 29th January and 30th January but funds do not reflect into my account. First paypal told me that there is not any problem and every thing is normal and later in their reply they accepted there is some problem transferring funds to Indian bank accounts. Let me know guys if you receive funds. I also agree that PayPal should return the funds back to account so we would have the option to request the check.
Below is their recent email to me on 9th February.
—————–
Subject: RE: BankAccount/CreditCard (Routing Code:
C###-L###-T#####-S###-W######) (KMM#########I##L#KM) :ppk#
From:
Date: Mon, February ##, #### ##:## am
To: “Love Kumar”
Dear Love Kumar,
Thank you for contacting PayPal.
We are currently experiencing an issue processing bank transfers to
India bank accounts. I sincerely regret the inconvenience it has caused
you. We could not provide any UTR ref number / NEFT transaction number
since PayPal is not a bank. As a result there may be some delays in
both withdrawals and random deposits. We are doing everything we can to
process your withdrawal as soon a possible; however, we do not have a
specific timeframe to share at this time.
Our technicians are working to resolve this matter. We appreciate your
patience and understanding.
We hope you understand our situation and thank you for your patience.
We’re available to answer any questions you might have. Just give us a
call at #-###-###-#### and we will try our best to give you immediate
answers or you can also visit http://www.PayPal.com/###. We appreciate your
business.
Sincerely,
Joanna Marie
PayPal, an eBay Company
Hi,
Is the issue of withdrawal to Indian Banks resolved now?
Please let me know, asap….
Thanks,
Himansshu H Singh
Yes the issue with paypal is resolved now and u can transfer funds as usual.
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