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Old 9th February 2010, 17:32   #1
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Angry Paypal - The Cheat. EDIT : Now resolved (page 2)

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.

more information available here

Paypal India Outage ? No Payments to or from India
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Old 9th February 2010, 21:20   #2
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Yeah, pretty sad news! I have ~$100 stuck there :(

Hoping that they resolve matters quickly!
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Old 9th February 2010, 23:02   #3
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I just saw the same thing too. But then there was a mail from Paypal stating that they are facing issues and they will reverse any charges caused by this issue. I hope they do that.
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Old 10th February 2010, 00:42   #4
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Simple solution. Send them a support request about this and let us know what they say. They also have a phoneline for support.
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Old 10th February 2010, 01:43   #5
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I agree with BenjiRoss above. Paypal is usually pretty good in responding to customers. Your experience is probably the result of an automatic rule-driven process which will need a manual adjustment by Paypal but they will need to be informed about it.

Paypal has currently suspended all transactions from India because of some concerns that have been raised so you might have to wait until these issues are resolved.

Prateekm: Dont worry, I don't think Paypal will run away with your money. They are a very big company and have an excellent reputation to protect. Just be patient, nobody in the public domain knows what the issues are, but they must be working on getting them resolved.

A US Paypal rep I spoke to yesterday informed me that the issue is the recent SecureCode/Verified by Visa initiative that has been mandatory for all online transactions. The current Paypal structure does not support any way of getting customers to enter this code mandated by local regulations and hence the snag.
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Old 10th February 2010, 01:44   #6
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Thats what happens when people start to kiss the ___ of a currency that is not theirs. Good for US economy, bad for you in India. Everywhere I go, I see Indian teenagers using the word "Buck" while referring to Rupee. According to the dictionary Buck means Dollar, so why disrespect and devalue your own currency? OK, they may be referring to Rupee, but in the end they are indirectly glorifying the dollar - which is bad for them and their country. They just dont get it.

Learn from China, dump the Dollar.

If you are doing business in India, performing Indian transactions, there is no reason for you to deal in USD. Paypal sucks!
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Old 10th February 2010, 03:02   #7
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Next thing you know, someone on these forums will ask you to take off your denims and wear khadi exclusively. Jeans are an american sign and if you are living in India, there is no reason to wear anything other than dhotis. Denims suck!!
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Old 10th February 2010, 07:59   #8
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Quote:
Originally Posted by pranavt View Post
Next thing you know, someone on these forums will ask you to take off your denims and wear khadi exclusively. Jeans are an american sign and if you are living in India, there is no reason to wear anything other than dhotis. Denims suck!!

You couldn't have put it across better
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Old 10th February 2010, 08:41   #9
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Was in /. a couple of days ago:
Slashdot News Story | Paypal Reverses Payments Made To Indians

Paypal is NOT a bank and so were not regulated.
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Old 10th February 2010, 08:45   #10
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I closed my paypal account as soon as I left US. I feft good then ... even better now. If you have your Credit card linked to paypal, could you file a complaint with Visa/ Mastercard ?
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Old 10th February 2010, 09:29   #11
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Default paypal response

ok here is good news, they have answered my support request.here is copy of their response

I checked on the withdrawal you made which was reversed and yes I do see
here the difference in the amount that was originally withdrawn versus
the amount posted on your PayPal account. Basically, the reason why the
funds were lower when posted on the account after the reversal is due to
the conversion of the funds from your local currency back to US dollars.
However,you do not have to worry abut this as the difference in the
amount will be credited back to you in the next 24-72 hours.


but i am really disappointed the way paypal has handled this, no prior information of policy change. they canceled transactions which were submitted before policy change.refused to give details earlier when i contacted paypal support.

if its in my hand i will stop using paypal right now, they charge high transaction fee + i have to pay conversion fee, but there is no better alternative available currently to accept payments.
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Old 10th February 2010, 11:14   #12
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PayPal explains Indian service suspension


Wednesday, February 10, 2010 12:12 PM
PayPal has confirmed that its recent service suspension involving local bank transfers and personal payments to and from India, was the result of the country's revised licensing rules.

In a blog post Tuesday, Anuj Nayar from PayPal's communications team explained that the latest incident in India was a response to enquiries local regulators posed, specifically, on whether personal payments constitute as remittance into India.
According to Nayar, who also posted a comment on ZDNet Asia's report on the issue, personal payments to and from India will be suspended for at least a few months until the company resolves questions from the regulators. Meanwhile, personal payment senders will need to find another payment method, he added.
Local bank withdrawals should be available to customers within the next few days, he said. PayPal will restore money into the accounts of Indian customers who have recently initiated withdrawals and these users will receive reimbursement for any withdrawal fee charges.
Customers with a negative balance due to PayPal's reversal of payments should contact the sender, and arrange for the payment to be resent if the amount was transacted for goods or services, Nayar explained. This can be done by selecting the "Send Money" tab and selecting "Purchase", he said.
Nayar added that only personal payments should have been reversed. Customers who believe their payments were mistakenly reversed should request for the payment to be sent again
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Old 10th February 2010, 13:06   #13
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One small and Off Topic question
----------------------------------

Is this cause hamper to our Tbhp sticker purchase?
Please any one can answer this. Because i will purchase those stickers in 1-2 days.
Thanx in advance.
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Old 10th February 2010, 13:16   #14
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Man this is horrible, Paypal has cornered all Indian account holders and canned them.

If you go into legal proceedings, the taxman will peep over your shoulder, and if you don't let the money be, you are then poorer by that amount held in your paypal account.

This eventually WILL increase illegal transactions.

Unfortunately the RBI has no control over paypal, this is until someone peers into the legalities, its a tough case.

Sad for them to do this.
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Old 10th February 2010, 22:47   #15
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Quote:
Originally Posted by mmmjgm View Post
Man this is horrible, Paypal has cornered all Indian account holders and canned them.

If you go into legal proceedings, the taxman will peep over your shoulder, and if you don't let the money be, you are then poorer by that amount held in your paypal account.

This eventually WILL increase illegal transactions.

Unfortunately the RBI has no control over paypal, this is until someone peers into the legalities, its a tough case.

Sad for them to do this.
It is the Indian Government that is responsible for this. They want to track each and every rupee/dollar entering and leaving the country. Paypal, OTOH, allows you to send and receive money with nothing more than an email address. This obviously doesn't fly well with whoever controls the Indian currency and financials, which is why they're at loggerheads with Paypal.

Paypal obviously sucks, but in this case, they're without any real fault of theirs.
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