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Paypal Indian Bank Withdrawal & Payment Reversal Problems
Paypal is causing lot grief to Indian e-commerce industry by reversing all transaction back to senders and Bank withdraws to Indian Banks, on Paypal website the transaction is shown as completed but no one is receiving money and there reply to support emails are not pertinent. Below is the reply from Paypal…
Thank you for contacting PayPal.
I have checked your account and I see here that your withdrawal to your
bank account ending in 0744 on January 27, 2010 for Rs.42, 897.12 INR
shows “completed” on your PayPal account.
Please note that electronic transfers to your bank account usually take
5-7 business days to process. Holidays and weekends are not recognized
as business days for most banking facilities, which may result in a
delay in your banking transactions.
The status of your withdrawal is ‘Completed’, which means it has
completed through the PayPal system. Please note:
- PayPal has no control over the length of time it takes your bank to
post their credits, and we do not receive confirmation when your credit
has been received by your bank
- Usually, if there is a problem with the transfer completing, it is
rejected back to PayPal and the funds are reversed back into the PayPal
account
- At this time, this transaction has not been rejected back to us.
Therefore, we suggest that you contact your bank and ask to speak with
someone who works with Electronic Funds Transfers. This Department
should be able to verify that your deposit was received.
If you are unable to locate the deposit at your bank, and the status of
the transaction is still listed as completed, we can initiate a trace on
these funds once 14 business days have passed. In this case, please
contact us and our Customer Service will provide all the information to
initiate the trace procedure.
If you require more information other than what I have provided, you can
visit www.PayPal.com/101 or you can also give us a call and we will try
our best to give you immediate answers. Thank you for choosing PayPal
for your online payment needs. We appreciate your business
Sincerely,
Hazel
PayPal, an eBay Company
Copyright© 2010 PayPal Inc. All rights reserved.
Consumer advisory: PayPal Pte Ltd, the Holder of the PayPal™ payment
service stored value facility, does not require the approval of the
Monetary Authority of Singapore. Consumers (users) are advised to read
the terms and conditions carefully.
Got more questions? You’ll find answers at our improved help center.
Click “Help” on the top right corner of any PayPal page to get started
or you can visit www.PayPal.com/101.
I can assume that my bank may be have some problem in transferring, but did every bank is having problems. Is this possible ? As lot of people that I know personally have not received payments.
| Print article | This entry was posted by aman toor on February 8, 2010 at 12:10 pm, and is filed under Blog. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site. |
about 6 months ago
Recent issues with PayPal withdrawals to Indian Banks & more over payments just randomly being reversed back to the senders will have a deep impact on PayPal’s reputation. It raises so many questions like (THIS MIGHT CONTAIN SPOILERS):
A) Should we trust PayPal in future?
ANS: ABSOLUTELY NO
B) Are they really concerned about our Money?
ANS: ABSOLUTELY NO, After a long period of two weeks we receive an apology letter stating that “We are sorry we goofed up opps!”? and stuff like “Your money just got sacked since this is nothing serious to us we are just doing a drill of playing a game with your hard earned money”?
C) Is RBI responsible for this?
ANS: UNQUESTIONABLY MAYBE, So, Question is why this is happening in India and nowhere else? Question is why we are being kept behind curtains and dark? Question is why Moneybookers and other Payment systems are working but PayPal is not? you just want to exclude the RBI out of this since they are least concerned with us. Everyone failed here! RBI off course you cant expect them to give you a comforting truth so a comforting lie should suffice you! And PayPal Ow man no shit a multinational company failing to inform and notify of an issue of this magnitude. That was an AWESOME combination of purely frustrating, destroying & spreading chaos.
D) So what does PayPal tell us now?
ANS: “We are sorry, but your valuable to us so please give us another opportunity to goof up and play some more engaging games with your money” and “We just love to make more profits by giving you a pathetic exchange rate”
D) What now?
ANS: DTA (Don’t Trust Anyone) Get your sleeves up against them and find your own ways to get paid over any other medium that serves better, communicates better and keep them in plenty. If one fails other should work out.
Ive let all my clients know about this issue and advised them (in advance unlike PayPal) to switch over to some other Payment system which is reliable, responsible and does the main thing “ACTION” at PAR. The truth will probably be dead and berried RIP about what happened because the shame and disgust they bring upon themselves is apocalyptic now.