Paypal Payment Reversed Solution for Paypal Bank Withdrawal In India
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If you are reading this then definitely you are affected with the recent Paypal issue with Indian Users whose Paypal Payments Reversed and they are facing Paypal Bank withdrawal problem.
Well i tell you this is not a Paypal scam as you might be hearing , is is a mere Paypal problem with Indian Bank authorities in Reserve Bank Of India who have denied Paypal from sending in any more foreign money . Paypal needs to change its money transaction policy in order to continue business in India as thousands of Indian Freelancers like me are suffering and cannot withdraw our hard earned money to Indian Banks.
There is is a Solution we came up with , Here Paypal can be used to send in Paper checks instead of direct money deposit in banks electronically.
If it was a week earlier i would have suggested Xoom for all your money transfers but unfortunately, even they have canceled services and are in the process of refunding this transaction identified as Intra-India. Current regulatory restrictions are the reasons for the cancellation.
Paper Checks cost you $5 each paper check that take 7 business days to process and more days to reach Indian Shores. Cant tell you how much time it takes for clearance in Indian Banks.
I sent them this mail to Paypal Head Asia [Mr. Farhad] but never received a reply :
Hi Farhad that is nice to hear from you. According to you the check withdrawal facility is still available i India. Correct me if i am wrong. I dont know about any fees associated with foreign check clearance , so if you can give some information about that.
Also what do you mean by refunding check withdrawal fees ?
thanks !
regards ,
Sourish
If any of my readers have made a check request do share with us.
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[...] Paypal Payment Reversed Solution for Paypal Bank Withdrawal In … [...]
Paypal is about to resume the payments in local indian banks…by 3rd March…I got a mail from them stating this information…
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.
Nice work there Anirudh