paypal has temporarily stopped payments to indian bank accounts be careful!!!!!!

India
February 11, 2010 6:18am CST
This is a great news from paypal. paypal has stopped the opeion of withdrawing money to indian bank accounts due to some disputes. this might take a couple of months to fix this issue. recently i had cashed out money and my payment got reversed. so be careful about this issue. dont try to withdraw funds to bank account in this situation because they may charge some fee due to the reversal of payment. This is not fake for more details visit paypal.com
2 people like this
8 responses
@srganesh (6349)
• India
11 Feb 10
devils_nani!You are too late with this news.payment reversal from paypal has been running for almost a week.irst paypal is reversing any payments to Indians from any sites.Now,people say it has been looked upon and they can get payments from sites.About this withdrawal,well,I suffered this reversal but the fees deducted was credited again and so no loss.Just,we have to wait for paypal to resolve this issue.
@abhaijith (2962)
• India
11 Feb 10
Hi friend, so can't indians withdraw money from Mylot to their paypal account?
2 people like this
@srganesh (6349)
• India
11 Feb 10
abaijith!For the time being,it is not possible for us Indians to withdraw money from paypal to our bank account in India.I just tried to withdraw money on 6th of this month but got the amount reversed on 10th.I was disappointed to see the deduction of fees but today in the morning,i saw paypal has restored that fees.So,our money will be safe as far as it is with paypal.We have to wait until the problem is resolved.
1 person likes this
@abhaijith (2962)
• India
11 Feb 10
Hi friend, its a very good and useful information that you have given here in this discussion. Am not an online earner but i have made some from Mylot. I don't have a thought to withdraw that amount yet. I think, normally it would take a week to be credited in the bank account. And in this situation, yeah, of course its really risky job to withdraw. Whats the exact reason for this? How long will it take to be as before? Anyway it might have been affected badly to the lots and lots of online earners from India.
• India
11 Feb 10
Hi abhaijith, the reason of this problem is said to be the new rules and regulations of Reserve Bank of India. RBI, demanded for certain documents from paypal and directed to pay tax for transactions to India. This is discussed in many forums. I just mentioned the essence of some discussions saw in some forums. Precisely I don't know what is the matter.
• Philippines
11 Feb 10
Sad to hear this news from Paypal. Well I guess you need to wait for that to be resolve because it will be difficult specially for people who work online and don't get anything in return for their hard earned money. Thanked God I was taking my vacation in my own country and I have transferred my paypal account to my local bank here in my country without any problem. Hope when I go back to India, the issue about withdrawal into a local bank is already resolved. For now, just remind your friends that they need to hold for the time being and not to withdraw. Happy Mylotting.
@vandana7 (67604)
• India
11 Feb 10
Hi devils_nani, I tried it, and failed. :) So I guess, we dont really have a choice but to wait, do we? :) Everything is for our own good. Who knows, by the time paypal resolves the issue, dollar might touch a 100. LOL.
@vandana7 (67604)
• India
12 Feb 10
Hi tintong - I think if I'd said 1 dollar would be equivalent to 100000 INR, I would be more of a positive thinker, isn't it? But when I think of where starscream is heading to, I do feel upbeat. If not anything, I am a positive thinker.
• India
11 Feb 10
It is very bad to hear this man. Paypal is the best way to withdraw money for indians .Because Alertpay not offer Bank transfer for indians .They do only bank wire transfer but it is very costly man.If it happens continuosly I just stop my online marketing.Because what I earn online is very low. I cannot pay much amount as fee to alertpay .so this is a very bad news to me.But I hope this problem will be solved in couple months.Let us hope for the best.
• India
11 Feb 10
Paypal mentioned that they will bank withdrawls within few days don't panic friends.Only personal payments will take hold for 2 to months don worry.we can still receive money from websites as they send instant and mass pay.Bank withdrawls will be normal within few days check out paypalblog.
@junil_jk (498)
• India
12 Feb 10
i haven't withdrawn any amount from paypal to my account yet. was thinking of withdrawing soon but it seems i have to wait. hope somebody will start a discussion when the problem's solved and we can withdraw.
• India
11 Feb 10
we can just hope that the problem will resolved in a couple of months......
@monsud44 (31)
• India
11 Feb 10
Yes. It is true. My personal payment from overseas got reversed. But fortunately, I contacted my client there who immediately sent me the money through an alternative mode, as commercial payment. So, part of the problem solved. But I still can't withdraw money to banks.:( When will they solve this issue?