What to do with the Paypal?????

India
February 11, 2010 2:13am CST
Hi Guys, Have you heard the news saying paypal has stopped its services in INDIA..... I am from india and I have given the paypal ID to this mylot, now what to do? how can I get my money from mylot now? Please suggest me.... please please please
1 person likes this
1 response
@mysdianait (65127)
• Italy
11 Feb 10
There are many discussions already talking about this issue (look to the right of this one in 'similar discussions'). Don't panic. Paypal will sort this problem and all will be well again.
• India
11 Feb 10
Paypal just came up with an update that the service will take "atleast a few months" to get re-started. It will not be well again when we need the money. After all, even withdrawals to bank accounts are now suspended. So our hard-earned money is just floating about in the WWW. This is highly frustrating.
@mysdianait (65127)
• Italy
11 Feb 10
Oh I agree that it must be extremely frustrating for all those concerned. What caused this to happen in the first place? Have Paypal stated the reasons behind their decisions?
1 person likes this
• India
11 Feb 10
It actually wasn't in their control. The RBI realised that all "personal" payments were not taxed and they "ordered" paypal to suspend all transfers until things were in order. Personal payments through paypal actually laid open a risk for money laundering. While they are right to put a tab on movement of funds, the least they could have done is informed people, or else provided an alternate way of payments while they set a process in place. The good news is that paypal has announced that while it will take a few months for the personal payment option to be open again, they will allow bank transfers within a few days. This is a BIG relief. There's at least some progress!!! :)