I have heard around about the situation that has happened within India regarding PayPal personal payment and local bank transfer. It was quite surprising to me that PayPal had stopped processing all related personal payment and local bank transfer for all Indian PayPal account holders. All personal payments and local bank transfer had been stopped except business activities.
Some of my friends has raised this issue to me in a comment that he had already got a purchase for his blog banner but the payment from advertiser had been reversed due to this issue. That means he lost his advertiser. This issue would be very challenging for anyone who use PayPal as the key payment system for their online business.
To get official update on this, I have visited PayPal Blog and got the latest update about this and you might be interested in if you are living in India:
1. Why did you suspend local bank transfers and personal payments to and from India?
We temporarily suspended these services to respond to enquiries from the Indian regulators, specifically questions on whether personal payments constitute remittances into India.
We’re working with the regulators and our bank processing partners in India to get this resolved as quickly as we can. We realize that this is causing considerable inconvenience to our customers and I want to reassure you that this is a top priority for the leadership at PayPal
2. When will personal payments be turned back on?
The regulators recently let PayPal know about revised licensing rules that we are now actively engaged in securing. Personal payments to and from India will be suspended for at least a few months until we fully resolve the questions from the Indian regulators.
3. When will local bank withdrawals be available?
Customers should be able to withdraw their funds to a local bank within the next few days. In the meantime, we’re going to restore the money into the PayPal accounts of any customers in India who have initiated a recent withdrawal, so they know that the money is safe in their accounts. Customers will also be reimbursed for any withdrawal fee charges.
4.The PayPal reversal has left me with a negative balance. What shall I do?
If you bought something or transferred money out of your PayPal account to your bank account before we reversed the payment then you may be left with a negative balance.
If this was a payment for a purchase of goods or services, you should contact the sender and have him or her resend the payment as follows:
(a) click the Send Money tab, and
(b) select “purchase.”
If this was a personal payment, then the sender will need to find another payment method until we restore the service. We’re sorry about this.
If you can’t recover the funds from the sender, you can bring your PayPal balance current by logging in to the PayPal account and clicking the “Resolve Negative Balance” link on the Account Overview page.
5. My payment was reversed but it was not a personal payment. What happened?
Only personal payments should have been reversed. Customers who believe that their payments were reversed in error should request that the payment be sent again by following the steps above (click the Send Money tab and select “purchase.”)
If you are still having problems, please contact PayPal customer support
That is too much clear to those who are concerned about this issue. I am also concerned about this even I am not from India. However, policies from nations to nations sometimes are similar that can be applied in other countries. PayPal has officially opened for Vietnam with almost features on and I am using PayPal as the key payment gateway now. Therefore, if PayPal had the same issue, I would think about another alternative.
Have you been affected by this issue?
Good luck to you guys from India!
The article quoted some information which is official from The PayPal Blog
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{ 28 comments… read them below or add one }
its really sad to know that it will take few months to restore personal payments to India :crying:
.-= Free Vector Graphics´s last blog ..Boot From An USB Through PLoP Boot Manager Even If The BIOS Doesn’t Support It =-.
I hope that everything will be ok soon. You should another payment method like alertpay, moneybookers or Google Checkout in the meanwhile
I had been hear this issues around blogosphere. It is surely a headache to indian bloggers because their income affected. This situations is not yet in Indonesia so i save for now — but i am not sure for future.
.-= Dana @ Online Knowledge´s last blog ..This Blog Officially is in Atahualpa 3.4.5 Now =-.
Vietnam has very strict law on online payment but now they opens for PayPal but I am not sure if this also happens to us in the future. Take another gateway for alternative would be a smart idea :yeah:
Paypal was one of the best online wallet , i donno why is it creating such a havoc for indian bloggers and webmasters , i can use alerypay but most of the affiliate programmes mainly use paypal , hope all such will be rectified :shutup:
.-= Ajinkya´s last blog ..Tenporium Invitation code Free Giveaway =-.
That is a serious issue while most of revenue sharing networks are not using PP as the main payment option
Hope this problem will b rectified soon
I do hope so
Well, Paypal surely caused a lot of problem to Indian freelancers because of their behaviour. I do not think we need to move to other payment processer since the commercial payments are still working. Well, other payment processers also cuts the same fees, sometimes higher fees. But even if you want to change your payment process, the next best one after paypal is moneybookers
.-= Shiva@Netchunks – Web Magazine´s last blog ..How to run PHP in Wordpress Posts? =-.
Yes, moneybookers is good too but it is not quite popular like PP
well paypal is the best…and they will soon be back in India..!
Well it is a serious issue for freelancer’s..!
.-= Shubham´s last blog ..Bubble Effect With CSS – Thesis Array =-.
Have you been affected by this issue? I mean have you had any payment that could be reversed or returned during the time?
I ma using paypal since long time,. Recently I have transferred money to my back account from my paypal account, but the money will not reach my account till now. Hope the problem will solve soon.
.-= chandan´s last blog ..The Super Bowl 2010 =-.
That is too bad and hope everything will be fine soon. I am on safe side from here
Thanks for this information. I hope I can withdraw my money from Paypal now!
.-= Rohit Sane´s last blog ..Some cool valentine day gifts for your Geek Boyfriend =-.
That is good, congrats! :clap:
This is a very problematic news for we the Indian users! No PayPal means no Internet in short for entrepreneurs and online businesses!
Right! No PayPal, no money to me!
Can anybody confirm that this issue (transfer to Indian banks) is resolved now? Can’t wait to take away my $1300+ that is sitting in my currently frozen Paypal a/c Looks like we need a serious alternative to Paypal!
.-= TechChunks´s last blog ..Hovercards: Twitter Launches New ‘Profile Preview’ Feature =-.
As far as I knew, the issue will be held for next few months but not sure 100%. You should check or email to ask PP. You should also seek for another method too
India Users can use Xoom for withdrawing money from PayPal to their Local Bank Account
http://qualitypoint.blogspot.com/2010/02/india-users-can-use-xoom-for-withrawing.html
Xoom is good then indian bloggers can use Xoom to withdraw money from PayPal to Bank account
I am looking for some alternative to PP. Is Google check-out available for India ?? Pls. guide if some one from India is using it. How is it ??
You can try Xoom. Google Checkout is now available to all countries in the world and you can use it too to pay online
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 pure frustrating, destroying trust & 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. :knife:
Anyway, they have set deadline for you guys and you should be happy with it then. No payment gateway has been much used and trusted online rather than PayPal
YET AGAIN PAYPAL IS STOPPING ELECTRONIC FUNDS TRANSFER BEWARE GUYS……… WITHDRAW YOUR FUNDS NOW!!!!!
Orig article at PayPal offcourse you gotta take the pain in the rear to find it your self:
https://www.thepaypalblog.com/2010/07/update-on-paypal-accounts-for-india-users/
————————
Hello Zoe,
Good morning.
I wanted to make sure you aware of a notification that was sent yesterday to customer’s in India. I have included the notification below.
In accordance with regulatory instructions, we would like to notify you about a change in our withdrawal functionality in India starting on August 1, 2010. At present you can request for either an electronic or cheque withdrawal of funds from your PayPal account if you are an India user.
From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.
While we are working hard to restore the electronic withdrawal service, in the meantime, we are bringing this matter to your attention so that you can plan your future withdrawal activities accordingly.
To request for a cheque withdrawal:
1. Log into your PayPal account, click on ‘Withdraw’.
2. Click on the ‘Request a cheque from PayPal’ link.
3. Enter the withdrawal amount and select your mailing address, then click ‘Continue’.
4. Click ‘Submit’ to confirm your request.
In order to help you with this change and until further notice, we will refund the $5 USD cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.
For any questions, please log into your PayPal account and click ‘Contact Us’ at the bottom of the page.
We apologize for any inconvenience caused from this change in our withdrawal functionality. We will provide ongoing updates to you here. We thank you for your attention and patience as we work tirelessly to resolve this situation as quickly as possible.
Please let me know if you have any questions regarding this change.
Sincerely,
Carolyn Anderson / Merchant Account Manager
direct 866-923-3778 / cell 402.960.9871
fax 303.395.2821
office hours 7:30 AM – 4:00 PM CST Monday – Friday
That is too bad, I hope my country is okie
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