Paypal India Block Leaves IT Guys High & Dry – Need For An Indian Paypal?
Update: Check out paypal’s purpose codes for freelancers and IT professionals here.
Paypal the online payments system has stopped working for India payments to and from. This has caused a lot of issues especially for IT developers who used to freelance for foreign markets and charge purely via the use of Paypal. Reports have been pouring in of several users whose transactions have been reversed.
Following is the standard reply that PayPal is sending to customers:
“Your payment of xxx has been sent back to the sender of the payment. We reversed this payment because we have stopped allowing personal payments to be sent to or from India.
“If this was a payment for a purchase of goods or services, and not a personal payment, then you may contact the buyer and have him or her resend the payment as follows: (a) click the Send Money tab, (b) select “Goods,” and (c) provide a shipping address.
“If this payment was a personal payment such as a gift, then we have requested that the sender find another payment method until we restore personal payments to and from India. We are trying to resolve this issue as quickly as possible and we’re sorry for any inconvenience.”
Techcrunch reports that Paypal has confirmed that personal payments to and from India have been suspended. There is no word though on why and for what concern was this step taken by Paypal.
The ewallet systems in India are governed by RBI and as you might know a Paypal like system in Wallet365 which was announced in 2006 was shut down due to RBIs directives. Offlate RBI has taken a kinder view towards mwallet and ewallet systems and also announced higher transaction amounts for the same.
As one can see from this particular incident Indians definitely need an Indian alternative for peer to peer payments both from India and from abroad. Too bad RBI is still to give a full green signal to a Paypal like system in India. But who knows after Paypal has stopped its shop the lobby for India payment services providers might just coax RBI to change its mind. Lets wait and Watch I say!
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Paypal is even reversing legitimate commercial transactions. Withdrawals initiated on 28th jan is not yet in our bank and nobody responds from paypal.
And we do pay taxes for whatever money we get from Paypal.
I am really disappointed by the paypal service. They have reversed my transaction and the amount is lost somewhere. They don’t even have a customer care number in India. And on top of that my paypal balance is showing negative. They should have informed us in advance.
This is bad. My payments are stuck. PayPal must resolve this issue ASAP.
Online payments have been misused in India, and this is probably the reason why RBI is acting like this.
However, there must be provisions for online entrepreneurs who earn their bread through online payments/receivables etc.
I liked WATBlog. Great job
-Anshul
Founder and Editor in Chief
YouthKiAwaaz.com
Paypal done this without any intimation and how can paypal reverse money from our account once they have credited.
If they have stopped personal payments to and from India. then they have to block the option by sender side that he can not
send payment in India.
I got USD 577 in last few days. I have also requested to withdraw money in bank account. See what happens !!!!!!
Paypal canceled all my withdrawal requests and credited USD 542 and reversed to senders.
I got credit of USD 542 instead of USD577. Even if withdrawal requested are not completed (Deducted exchange rate fees). But
how can they deduct exchange rate fees even if transactions are not completed and money are sent back to senders.
Now I have negative balance. And I like that balance will become positive by deducting from credit card.
Who can tell that paypal is safe way payment method ????
No steps are taken in front of paypal.
Hi.,
I was a freelancer and verified PayPal user. Recently I had withdrawn $300 from my PayPal account to my personal bank account. Out of this $80 was a personal payment from one of my client. PayPal Reversed this transaction, as a result my account gone to negative balance. So PayPal reversed my Bank deposit. Now due to this reversal, I lost about $20 from my account. (PayPal charge 3.9%+$0.30 for every transaction which involves multiple currencies.)
Again, now my service provider is feeling that I gave him a full return and thinking that he don’t need to pay again. Even after a one hour discussion, he was not agreed to send money again.
Totally, I lost about $100 because of PayPal ridiculous activity. It was like PayPal robbed my account.
I want to make a complaint on PayPal for refund of the charges collected from me. Please advice me how to do that.
Is there any better alternative to PayPal which has the Indian Rupees as holding currency.
Hi all,
The issue is not yet resolved as on Feb 7th night…
Here is the recorded file of a conversation with a Paypal customer employee on February 7th, 2010..
The issue will be resolved only by Tuesday/Thursday and they are not providing exact reason for the issue…
Download and hear it…6MB mp3 file
http://filekeeper.org/download/shared/paypalcall.mp3
PayPal have always been known as scam artists. The US government should DO something about the millions of complaints PayPal gets every year. Do a search online for ‘PayPal’ scam and you’ll find millions of them – with so many people saying PayPal has kept their money. I wouldn’t touch PayPal with a ten foot pole. They’re morons!
And for anyone who wants to complain (which may be all of India), contact the Better Business Bureau in the US and make a written complaint. This WILL damage PayPal’s reputation even more than it is already damaged, so I recommend everyone do it who has a problem with PayPal.
BBB is the keyword of the hour! Paypal needs to be wacked
let all Indian Paypal users n suffers make a joint petition to the BBB about the personal transactions and suspended withdrawls
Issue not yet resolved:
8th February, 8-30 PM
Just made another call to Paypal customer care and had a chat with Supervisor too. They are having technical issues and developers are working on it. They are telling that issue will be resolved this week.
Here is the new recording of Paypal Chat:(8-02-2010) 10.1 MB
http://filekeeper.org/download/shared/Paypalcall_08FEB.mp3
The chat with the supervisor has more clarity.
Mahesh
Finally got reply from the paypal that they crediting funds back to the paypal acccount
Hi Mahesh,
Thx.. for the post…
But still no conclusion …. I hope we don’t loose money.. I had a huge transaction amount.. but not yet cleared.
And even now – the withdrawal feature works! I have 1000 USD somewhere missing and another 400 USD that it allowed my to withdraw.
Paypal conveniently tells me that it has cleared their system and I should check with my bank! when clearly the problem is them.
Shouldn’t they atleast prompt you when you are going to do a withdrawal or disable the withdrawal feature? Some solace when they are screwing around with you anyway currently?
And for the money that has been refunded to US parties – I have already delivered – have no clue if I am going to get that money back now.
I think I will speak to finance guy around the corner from my home – he doesn’t have an office but he has been in that tea shop many times I see and seems nice. I think he should be more ‘reliable’.
Hi,
Paypal have suspended service in india. there is no way to withdraw money from your paypal account. all withdrawals requests submitted in last few days has been canceled.
but this is not all , when withdrawal requests are canceled they are charging conversion fee on amount again(they charged first time also to convert USD to INR). for ex. i submitted a withdrawal request of 1168 USD on 3rd of FEB, at that time no service suspension information was available, later i received a email, which mentioned that transaction will be canceled and amount will be credited back to my account.
but today when amount is credited i am shocked to see they have credited only 1081 USD, they applied exchange rate again and also took their 2.5% conversion fee on amount. they just took my money for their own mistake.
so i lost around $88 USD without any reason. paypal is just minting money from transaction which was never credited to my account. when amount was never credited how can they charge me for conversion fee(from INR TO USD).
i am totally shocked, i am not sure what to do next.
also please any paypal user here do not make any withdrawal request (still there is no notification on paypal site or your paypal account) otherwise you will end up losing money.
How are they saying that it is a Technical Issue.
If you see their official blog their spokesperson is saying that the problem has something to do with problems with their stakeholders and business partners.
Please read –
https://www.thepaypalblog.com/2010/02/personal-payments-and-local-bank-transfers-in-india/
Lets raise our voice hard across all forums, I am thinking of making a dedicated blog for this issue and lets all come on same page and then hit Pay Pal with all legal means.
They are gaining so much profits from Indians, they are supposed to answer about their services.
As of now 9th Feb 10, 21:07 IST problem is not resolved…
Thanks,
Himansshu H Singh
Hi Everyone,
This is from VOX Public Relations on behalf of PayPal. Just wanted to let you know that PayPal has posted an update on the situation here: https://www.thepaypalblog.com/2010/02/update-on-paypal-situation-in-india/
paypal issue has really gone too far. personally affected by this outage i really think we do need an Indian system for money transfers. and for all those who have transferred money the good news is that money is reversed to the bank account but the worst is dont know what to do with the money that is stuck with the paypal with nowhere to transfer. paypal really sucks.
Same things here…
My $47 also stuck between PayPal and HDBC bank.
PayPal account shows as completed transaction with id, But it’s not deposited in bank account yet… what to do now??
How long it will suck all Indian user??
It seems that Indian Government and all Indian Mas Media still in deep sleeeep….
plz contact Mr. Shashi Tharur [HighTech Minister]… he may understand our situation and can take any right decision favor of us.
Hi all,
Can anyone suggest any other service like Pay Pal from where we can accept International Payments??
Please give your views…
I think we all are sailing in the same boat. Transactions getting reversed and withdrawals not reaching bank accounts.
I remember last year we also had the same problem around the 26th Jan I think, when withdrawals were delay by 15 days.
Hi,
Anyone knows any other service?
Have personally used that service?
Please let us know if the problem has been resolved on Pay Pal…
Could some one tell what was the problem with Pay Pal last year??
Thanks,
Himansshu H Singh
This is Bull Shit.
Indian Government if is the cause of this problem, its a new low they have achieved.
To register as an exporter – freelancer, I am facing ample amount of problems from authorities. You need Business Bank Accounts, minimum balances, tons of documentations, tax registrations, all for what, 1-2 lakh rupees per annum.
And those guys won’t let you do business legitimately as well. Deposit 25Ks in various tax registrations first, then they allow you to export anything. Consultants won’t touch you for small businesses, and bureaucrats won’t help you in govt. offices.
If this problem is not resolved, Freelancers working part time from home will diminish.
This is not democracy.
indian goverment, RBI Sucks
they will never allow any one to earn Bread and Butter.
i hope RBI understand our situation and it will work soon
Typical Indian government attitude
Why blame PayPal when the problem is right here, at home, in India.
It is common knowledge that every Indian politician has a few lakhs or crores of Rupees safely stashed away. Depending on their position in the government hierarchy the amounts will be either Lakhs or Crores.
And if any of you guys think that the RBI is not aware of this, you need to go get your head checked. The RBI, the Income Tax and such departments, just take sadistic pleasure in harassing the common man while letting the real criminals who masquerade as politicians get away scot-free.
Like it or not, that’s India for you
…. Incredible India!!
Yes, its true indian Goverment SUCKS, Politicians SUCKS..
as well RBI SUCKS
Is there any update Guys? Can anyone tell me Pay Pal alternative services?
What the hell is going on? PayPal issue is STILL not resolved!!!!
hi,
I have withdrawn my money on feb 9th but upto now i didnt get money deposited into my bank account. I dont where it exactly strucked. I have asked paypal member to revert back my transaction but they said it is not possible. how to revert back my paypal transaction
Hey i truly apologize for whatever i’v commented,but this is become a very serious issue.My bussiness is been stopped bcoz of this problem,and there is no other alternate to run my bussiness.
I request you to resolve this issue ASAP.
please for god sake release our money i beg u
Hi Friends, i have withdrawn 738$ on Feb 10th 2010. Still funds not yet credited to my HDFC Bank. I have emailed about this issue to paypal customer care.
First time they replied like “Hello, my name is Alma. I am sorry to hear about the situation regarding your withdrawal dated Feb. 11, 2010 01:05:38 PHT , and understand your frustration and concern over this issue. I sincerely apologize for any inconvenience on your part. I have carefully reviewed your account and I am happy to assist you.
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.”
So i supposed to call my HDFC Bank Electronic Funds Transfer Department (Mumbai). He told all transactions are done from Deutsche bank. Paypal will not send funds directly to bank account. Paypal will do currency conversion and transfer funds to Deutsche bank, then Deutsche bank will transfer funds to our banks. Not only HDFC all other banks transactions done like same. He asks Deutsche bank UTR number to trace funds transaction status. He told that paypal have this 16 digit UTR Number. So Call them and get back to our bank customer care again. This is what he told.
Again i emailed to paypal today and they replied to me as follows
They replied to me like ” I checked your account and I see that you have initiated a withdrawal on Feb 11, 2010 for the amount of $714.15 USD. We are currently experiencing an issue processing bank transfers to India bank accounts. As a result there may be some delays in both withdrawals and random deposits.We are currently experiencing an issue processing bank transfers to India bank accounts.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 time frame to share at this time.
I know that this is somehow inconvenient on your end; I assure you though that your money will still post to your bank account and we are sorry for any inconvenience. You can view our PayPal blog at http://www.thepaypalblog.com for the most up-to-date information.”
I am still having doubt like, whether i will get my 33,228 to my bank account or not. I have stopped my freelacing business this month. My clients are still giving work, but i am not interested to work with them. Because i am upset now, How can i able to fullfil their requirements.
Paypal is the only option to continue our business. Paypal should take care of all our issues and should do transactions properly.
May all will get our funds by Next Month March 1 week.
Thanks,
Vinod
Hi Friends,
I think we all are suffering because of our SUCKING Indian government and fools sitting at RBI. why can’t RBI gets it’s own system instead of PayPal
Hi All of you, I am also one person who is suffering from this issue. but I am very much confident in paypal,dont worry they will solve this problem. We should not blame paypal , we should be assame of our RBI rules. every country accepts paypal payments, but our governament only is not allowing. if this problem is not solved, they will revert back our amount to paypal we can use other way to get money.
Hi Ramdayakar, Could you explain other way to get money. So all of us can get our funds with safe. I appreciate your positive attitude. This is what we all of us need. We will get our payments.
Thanks,
Vinod
Hello,
For the paypal recent problem can anyone tell me is there any other process to withdraw money from paypal?
Thanks
Riktam
1. we can use xoom.com to transfer money, we can transfer money to other bank account like (mom or dad account) not the same as your name.
2. via credit card
3. echeck.
I prefer xoom.com good exchange rate also. we will loose only 300 compare to paypal.
If we use same bank account they say it as intra-bank transaction and cancel our transaction.
for more refer this http://forums.digitalpoint.com/showthread.php?t=1689038&page=72
Hi,
All the people who are trying to transfer the money through Xoom.com, I would like to let you know that it won’t work any how.
I tried this method and it failed, reason for this is we have our country of residence in our Pay Pal ID as India, Pay pal has authenticated it via Credit Card (at the time of pay pal verification through credit card) that we are Indian Citizens with Valid Credit Cards.
Now, Xoom says that if you transfer the money in Pay Pal account with Indian ID to Xoom and try to Withdraw it in Indian Bank A/C, this is Intra India Payment, i.e. Payment is moving within India.
So, this is some what not legal as per RBI Guidelines, so nothing can be done about it as of now.
Some people have said to get a successful Xoom transaction, may be they had personal unverified Pay Pal ids.
For rest, there is only Credit Card withdrawal and Checks through Pay Pal.
Thanks,
Himansshu H Singh…
paypal is playing the monopoly game
Hello Friends,
Iam also one of the affected people. Iam not able to withdraw my amount in my bank account. Now iam going to help you by giving you certian important information about this problem.
Just now i called the RBI complaints cell. I have lodged a complaint against R.B.I. I want all the affected people to call and complaint against R.B.I’S foolishness. The phone numbers are available below.
The Reserve Bank of India has set up a Complaints Redressal Cell in all its Regional Offices under the Regional Director.
1.
Ahmedabad
079-27542216
079-27541993
2
Bangalore
080-22277620
080-22210185
3
Belapur
27576717
27570015
4
Bhopal
0755-2553179
0755-2552283
5
Bhubaneswar
0674-2396089
0674-2395911
6
Chandigarh
0172-2721366
0172-2701186
0172-2721366
7
Chennai
044-25367236
044-25365220
8
Guwahati
0361-2734267
0361-2540033
9
Hyderabad
040-23230299
040-23230299
10
Jaipur
91-141-2562060
91-141-2563016
11
Jammu
0191-2474886
0191-2470576
12
Kanpur
0512-2333266
0512-2306105
13
Kochi
0484-2402820
0484-2402715
14
Kolkata
033-22308341,
033-22300470
033-22313645
15
Lucknow
0522-2392309
0522-2392309
16
Mumbai
22675469-22705724
22705724, 22665724,
22650058
17
Nagpur
0712-2532351
0712-2536756
18
New Delhi
011-23356720
011-23731461
19
Panaji
0832-2438660
0832-2438657
20
Patna
0612-2322587
0612-2320407
21
Thiru’puram
0471-2324778
0471-2330843
In the event of the complainant not getting a reply within a period of 35 days or his not being satisfied with the reply received, he may write to Shri G.Jaganmohan Rao, Chief General Manager, Reserve Bank of India, Customer Service Department, 1st Floor, Amar Building, Perin Nariman Street, Mumbai 400 001.
You can send me thanks email to this address – crazy.aden@yahoo.com
well what did they (RBI) tell you ?
I called and explained the situation. It was very difficult to make the person from the complaint cell to understand the problem. He simply said call after 10 mins.I called and said R.B.I has caused a lot of inconvinience to indians and they have not even informed to the people of india that they have asked the banks to stop accepting payments from paypal. But he said they have informed banks. I said its your job to inform us. He said we have published about this on the newspaper. But that is not true.Then i asked to whom should i complain. He gave me the address. I have done. So friends contact the person who is incharge at your city.
Banking Ombudsman,
Reserve bank of india
rajaji salai
chennai – 600011
Thanks,
we will call Bloody RBI Suckers.
Third class Indian government
other country appreciate Information Technology
and due to our Indian Suckers system we have to Stop our Bossiness
Shame on india.
any updates for the day … please let me know … it sucks …
Reserve Bank of India has set up a Complaints Redressal Cell at Mumbai under Shri J.B.Bhoria, Regional Director (Maharashtra & Goa) for prompt redressal of complaints from members of the public against the Reserve Bank at the following address:
Reserve Bank of India,
Complaints Redressal Cell
Mumbai Office
1stfloor, Main Building,
Shahid Bhagat Singh Marg, Post Box No. 901
Mumbai 400 001.
Any person who has a grievance against any Department of the Reserve Bank at Mumbai may lodge his/her complaint with the Cell at the above address. The complaint should contain the name and address of the complainant, the Department against which the complaint is being made, and facts of the case supported by documents, if any, relied upon by the complainant.
Members of the public can also approach the Designated Officer Smt. A. S. Telang, Assistant General Manager (Personnel) on Telephone No: 022-22705724, or at the E-Mail or call on her at the above address
Similarly, any person who has a grievance against any Department of Reserve Bank of India at CBD, BELAPUR, NAVI MUMBAI, may lodge his/her complaint to the Cell at the following address:
Shri. A.K.Sarangi,
General Manager
Reserve Bank of India
Plot No. 3, Sector 10,
H.H.Nirmaladevi Marg
Cbd, Belapur, Navi Mumbai 400 614
Members of the public can also approach the Designated Officer Shri B.M.Patnaik, Assistant General Manager (Admn.) on Telephone No: 27576717, or at the E-Mail or call on him at the above address
In the event of the complainant not getting a reply within a period of 35 days or his not being satisfied with the reply received, he may write to Shri Jagamohan Rao, Chief General Manager, Customer Service Department, Reserve Bank of India, Amar Building, 1st Floor, Sir P. M. Road, Fort, Mumbai – 400001.
I transferred money from Paypal last weeek and received no such messages. Infact, my transaction went through, but still have not not arrived to my bank account.
After this experience, and reading many of other people reviews on this whole issue, I could only conclude that RBI is a shameless organization. There are people in our soiety who cannot see others growing.
What is scenario with paypal…..they are not giving tentative dates also that when this local bank transfer will open…..this is ridiculous….our money is on stake for no reason…..does anybody have an idea what is the actual position….is it goin to open ever or not……
Dear Friends,
Each person should contact and ask them why you causing us problem. we shud stop being lazy. We shud’nt wait to get a solution from other person. Let us all fight together. Each one of you contact them independently and post your thoughts.
Address and Area of Operation of Banking Ombudsman in India:
Banking ombudsman is responsible for dealing with complaints relating to banking practices. Find the address below and complain to him as well.
Download – http://www.megaupload.com/?d=UWLV5BA8
I read an article explaining expansion of NEFT services and the software application enhancement status. So as per that the problems should get resolved on march 1st… but let us see…
is there any updates for the day …saturday…my money withdrawal is on hold with paypal or rbi not sure .. but it is 10th day of my withdrawal………….
Hi All,
Pay pal has resumed the payment to India, there is update on their blog –
https://www.thepaypalblog.com/2010/02/resuming-local-bank-withdrawals-to-india/
** But now RBI has instructed them to ask for some export code, god knows how software guys will be giving the export code
Anyways, farhad irani has said that they will be back more on this by 3rd of March.
Wish luck to all of us that there is no F thing Export Code from Indian Govt. on us.
Himansshu H Singh
Hey friends,
This was the message sent by paypal to me today. What the hell is export code???? Read the message below.
Paypal
We have been diligently working with the RBI and our business
partners to resume Indian bank withdrawals for the thousands
of Indian businesses who depend on PayPal to sell their goods
or services in the global marketplace.
Today, we are happy to announce that the RBI has allowed us
to continue local bank withdrawals for settlements for exports
of goods and services. We are currently making changes to
comply with Indian regulations for settlements for exports of
goods and services, and we anticipate that, as of Wednesday,
March 3rd, customers will be able to use our
bank withdrawal service.
As part of the changes, you will be required to fill out a
new field entitled ‘Export Code’ when you request a withdrawal.
This information is required under the current laws of India in
order to identify the nature of cross-border merchant transactions.
On Monday, March 1st, we will be back in touch with specific
instructions on how you can move your money into your bank account.
Moving forward, the RBI has told us that PayPal needs specific
approvals to allow personal remittances to India, which we
currently do not have. Until we get these approvals, personal
payments into India will remain suspended. However, if you are
an exporter, you will continue to be able to use the PayPal
service for payments of goods and services. In fact, with the
changes we are making to our system, PayPal is now set to be a
more powerful engine for exporters in India. With purpose codes
for export transactions and FIRCs (Foreign Inward Remittance
Certificates), you should now be able to get the export
related benefits you seek.
You can check the PayPal blog for additional updates.
http://www.thepaypalblog.com
We thank you for your business and for your patience during
the past few weeks.
Sincerely,
PayPal
See my blog site for more information on the export code!
yes paypal resumed withdrawl to india
Hi,
I made a withdraw on 21st Feb to my local bank in India from paypal but no update in my bank for this fund.I am really scared no sign of my balance amount in pypal account nor in my Bank .And I dont know whats the new issue of Export License .RBI asking for what ? To stop freelance business ?As far I know amongst all some of little boy and girl working as a freelance Designer working hard day and night from home , now they have to make a SOFTWARE EXPORT LICENSE ? even they hardly know about themselves clearly. you people think so? I am not talking about big size or mid size software farm or Privet Limited company who are also doing FREELANCE JOB.Then whats the issue?
Happy Holi to every body!!
Hi all pissed-off fellow indians,
Just like everyone else I am also one affected by this, so, I’d like to share something. PayPal is hiding the truth! RBI I seriously bet their complaint center doesn’t know a shit about NEFT or the issues, and we live in a great country after all.
I have posted some serious shit about PayPal and RBI on almost 40-50 Blog sites including their own blog site where they have to shamelessly Delete those comments due to the nature of the comments (PURE BURNING TRUTH). So, here are the Facts they have failed to explain or to manage the situation:
A) Its your hard earned MONEY they are playing with. Yeah playing with, random reversals without any rational explanations or informing the concerned individuals in time about the ongoing issues.
B) I found out about these issues just a few days back since it took too long for a simple transaction that takes only around 3-4 days max. In the meantime its my MONEY at stake, but no reply from PayPal just a comforting and lying email that “we have issues”? Well explain what issues?
C) Thank god I don’t use PayPal all the times, fortunately Moneybookers is working. Yes I was able to transfer from Moneybookers successfully even in these tough times. So RBI has some special rules against PayPal and not against Moneybookers? I’d suggest you guys do the same split up your Money, don’t give them another chance to play games with your hard earned Money. Ask clients to pay you directly into your Bank Accounts if that is possible or use Western Union transfer which doesn’t take as much time as this piehole PayPal and gives you better exchange rates.
D) These issues started from about 26th January and I bet none of us were informed in the first place from PayPal officially. Oh how can they? They don’t give a crap about your Money. Its only then when you take the pain to contact them, and even with that they reply you with some diplomatic answers. Okay, so the second and the most biggest mistake is that they are not contacting you to choose some other Payment methods while they are having these issues, so does it mean we just want your money in our filthy hands while knowing that we can pay you out in time?
E) Is this alarming? Yes India and Indians Rising! So, is that a problem with you? Yes its a problem to RBI and the Indian Government more than PayPal. To all the smiling semblances at RBI and at the assembly “WE PAY OUR TAXES” to you don’t we? and where does all our hard earned money comes to? INDIA.
Its still not over yet, these are just shocks, the aftershocks these events will have will be much more to PayPal and RBI. Don’t give your hard earned money in the hands of these liers, cheaters and stealers anymore! Its evident from these events that they DON’T CARE.
I dont think that we’ll get the money. IEC code is a very difficult one. Lot of formalities. What if an individual gets money through a website? Fuck. this is unfair.
Hi everyone. Instead of blaming all the MFs in Government and RBI , lets think about an alternate way to transfer the money to a bank. I seriously don’t want to keep money in Paypal for long. I am getting money transferred to Paypal every month end. Is it OK to pass the money to another friend’s bank account in USA and transfer the money using WesternUnion or something like that to our banks?
I never tried. What you guys thinking?
guys , it was big scene when i tried to fine the need of IE code ie import export code through tax consultants.
the website says the payment fee to get this IE code is 250 rupees with some documents and one bank letter which is really hard to get amd time is 2 days .
the tax consultants here in chennai says the fee range is 3000 to 12000 rupees to get this same IE code in 4 days. so , how are we going to find a solution. these people say we would be quick channel to get you the IE code and if we go directly to zonal DGFT office to get this would take a long time as more formalities are there.
some consultants say IE code is not available for individuals and it can be availed by company name current account holders only. but few consultants say you pay more money we get you this IE code for individuals too.
How this game is ? did any one find out this info. This is the situation in chennai , india for this .
any one else experience , please share. i want to find a solution too..
thanks
Hi People,
I feel that Pay Pal and Indian Govt. has done what is right & legal.
Infact they have just organised things little bit, its nothing as if our Govt. does not wants us to do Business.
Purpose Code will help Banks and other agencies to track the transactions easily & effectively.
We have been blaming Indian Govt. and Pay Pal but I can understand that it happens when we have no idea what is going to happen in future.
On the other hand I tried lots of services to Invoice my Clients located in Western Countries but truly speaking none of the service has easy mechanism as Pay Pal.
More over few clients got their money stuck in Moneybookers and now I have a type of blame from them by referring those sites.
If we have written so much against PP and RBI then it is our duty to praise them this time as they have done something logical and good for us and our nation as well.
Remember, we need to cooperate our Govt. on security and illegal laundering of money issues.
Thanks,
Himansshu H Singh
Hi friends,
We have no other option than complaining. you’ll lose lot of money if we use western union and other banks in usa. Do you think they’ll provide service for a cheap rate? No. So just pick the number from above. Which ever area you are Call them and say that you want to complain. They’ll ask you why? You explain this IE code problem. Shout at them and dont get scared.
Paypal Shit RBI Shit how can freelancer get export code.
INDIAN GOVERNMENT SUCKS.. They dont want any one to do freelancing
SHAME on INDIA, SHAME ON BLUDY SUCKER GOVERNMENT.
Hi swati,
P0805 is the IE code for Freelancer. We should enter this before clicking withdraw button. Hope this problem gets solved for all. But guyz wait until a week to get your money back into your account. That is including the reversed charges. Once your money is back to normal like before in the paypal account, you can enter the code and send to your bank. For more details visit – http://thepaypalblog.com
I’ll again visit to this site and msg you all when i get my money back into my account. I wish all tou do that. If any problems msg here.
Iam sorry guyz. That was a dummy number given by the Paypal. I think we should apply for IE code. It charges Rs. 250. Keep your pan card handy. Get a sign from your banker stating you have the account from – till date. Shit wat an headache.
Hi Friends,
Paypal returned my money today after noon (03-Mar-2010). They deducted 40$ from my account. I was withdrawn 738$ on 10th Feb. Today they returned 698$. I think they have converted to current currency rate. Anyway you all will get your money this week.
When i try to click withdraw menu. It shows following message
“”We are making some changes to our product in compliance with India regulations for settlements for exports of goods and / or services. During this time, we have temporarily suspended the ability to withdraw money to your bank account. We hope to resume settlements to enable you to withdraw funds to your local bank account without delays.
As part of the changes, you will also be required to fill out a new field entitled ‘Export Code’ when you request a withdrawal. This information is required in order to identify the nature of cross-border merchant transactions.
Our sincere apologies for the inconvenience you must be facing. Please be assured that we are working to resolve this as quickly as possible and we will make sure to keep you updated.
“”
Friends i am working as a freelancer. Where can i get export code. Can i get it from HDFC bank?. Please advise me
Thanks,
Vinod
Hi friends,
we can get IE code only for current account. To get IE code please follow these steps.
1. open current acccount in any indian bank.
2. on letter head of the bank ask them to give Form B. which is in the IE CODE link. Don’t forget to ask them give in bank letter head.
3. Then fill rest of the ie code application and attach this bank details and Form B and submit it at DGFT.
After 7 to 8 days we will get it.
I will post 2mr regarding these in details. 2mr i am going to DGFT office to submit my document. so that 2mr I can post some more help full details.
Thanks
I have a website where I plan to accept Paypal payments for downloadable products. Is this possible under the present circumstances?
Hi ramadayakar!
Its really cool could you give me more details like DGFT?
Please give mme more details about this
ramadayakar.. once you get ie code .. please let us know ..thanks.. but paypal says it now as purpose code… hope you are aware…
Hi.,
I have seen around in internet, many are scolding Indian Government and RBI. You are making a big mistake. We are in a developing country. RBI never takes any decision in a midnight. RBI already warns PayPal about six months ago, and sent messages every month on the same issue. But PayPal doesn’t care about RBI warnings. Finally on January 26th 2010, RBI stopped all transactions by PayPal. RBI doing it’s job. But PayPal don’t want to controlled by any federal/government laws. So it just neglected the RBI warnings.
Finally, who is the person got affected from all these actions.
1.) Indians, Indians money stuck in PayPal for about one and half month, means they lost interest for that money. Some persons borrowed money from some other sources. Means they paid some extra interest. So Finally Indians lost some of the money.
Note: PayPal charged money for the multiple currency transactions. Even PayPal promised the refund, but it was not returned to many Indians.
2.) RBI, it is making a better India. If PayPal was not controlled in any way by RBI, then what is the meaning of RBI. So ultimately RBI was succeeded in its job. May be in future, RBI try to apply some federal rules PayPal. It means may be in future, we can complain to RBI against PayPal. I know today, even PayPal make overnight decisions against you, or if it ceased your funds, you can’t complain to any one. It was only the decision maker on our funds. We don’t have rights on our funds, how horrible it is. So please never make RBI as the responsible for the PayPal mistakes.
At least today, RBI placed some codes on PayPal. So I had the hope on RBI to place federal rules on PayPal. I love it.
3.) PayPal, Which had the big profit on all these actions. It blocked all Indians money for more than a month. Means it must had a big profit. Even PayPal taken action by stopping personal payments, why doesn’t it care about customers. Can PayPal do the same action against US citizens. Never. But PayPal never consider sending a notification to all Indians in any way before it stopped payments. It don’t want to control by any federal/government laws. It charged you 7.4%+$0.60 on every transaction reversed. Instead of returning your fee, it charged double. And when it came to refund, it needs time. I know one of my friend who is waiting for refund from 29th Jan 2010. He tried to call customer care. He sends many mails to customer care. But PayPal had a worst customer in world. Why a financial institution wants it customer care to be worst. Because, then only PayPal can play monkey games on your money.
PayPal is the big villain behind all the scenes. But it showed RBI as villain, but RBI is just try to make everything good for Indians. PayPal moved all the warnings from RBI into dustbin, but in the end scene, it said RBI imposed new rules. But these rules are not imposed in overnight. But PayPal stopped transactions in overnight, with out informing customers.
I found many members also saying we don’t have alternatives. Who said it. We do have some other services. Some have better services and lower fees. But the problem with those services are they are not that much popular as much as PayPal. I don’t want to mention any other service name, because, you may thought that I am advertising them.
Please don’t blame RBI for the PayPal monkey actions.
PayPal said withdrawals will be back on 3rd Mar 2010, but to my surprise, it removed the entire option of Indian bank withdrawal. Today was 4th Mar, 2010 still withdrawal was not restored.
Jaio India, Wake up Indian, Wake UP.
Bank Withdrawal option in PayPal was restored. Check the option in PayPal withdrawal. We need to select the purpose in a drop-down box. Hope this time, our money will credited into our bank accounts.
Jaio India.
yes i too saw that paypal withdrawal seems to work from today.. it is asking for purpose of transaction .. I DID NOT SEE IECODE OR PURPOSE CODE.. ALL THAT IS A MASK I THINK …
But Now they are limiting the Indian users accounts by saying that the previous payment they received was personal.
No worry , I also faced the same limited account issue yesterday. Dont waste time to email them. Call them immediately. I made a call to paypal support and they asked questions about purpose of transactions,Relationship with buyer and me,Details about all set of transactions. After that paypal restored my account. Now I am able to withdraw money to my bank account. Yesterday i have withdrawn money to my bank account. Hope i will get it on Wednesday. Because Saturday and Sunday will be holiday. So transaction will start on Monday. I will let you know the result.
Hello friends,
Good news to all. Funds credited to my bank account today. I was withdrawn funds to my bank account on 5th March friday. Today funds credited to my account. Paypal works great
Thanks,
Vinod
yes, paypal working great.
Hi All, after knowing all these paypal issue in past i too was surprised about it. I was using paypal in 2008. Luckily i was not having transation during those period when these issue was there. Now again i got some amount in paypal. I just want to know whether this withdrawal issue is resolved completely? Can I go for widhdraw in already added bank account??
Please confirm me so that i can be sure about it.
Thanks to all!
One more help, do we need to show any document in banks to settle the withdrawal? I have icici account.
Withdrawn on 7th April 2010 but payment status still showing pending. That is going on? Even Farhad you are not coming up about the issue. If there is any problem then you can come up with a write up here is blog so that we can understand what is the problem. Ya Paypal is really a unprofessional. I sent email to support but they to don’t know about the issue. So whom we should write so that we can get right information.