Comments on: Paypal offers Withdraw Funds directly into Indian Banks

By: Anirudh K. Mahant

Anirudh K. Mahant — Sat, 27 Feb 2010 13:33:46 +0000

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.

By: AlertPay adds Credit Card withdrawal in India | Tech News

AlertPay adds Credit Card withdrawal in India | Tech News — Thu, 11 Feb 2010 07:52:19 +0000

[...] is a happy news for Indian members of Alertpay. If you are Alertpay user and you want to withdraw money then you can withdraw money using your Credit Card, bank wire and check. Yeah thats right, you can [...]

By: Answers to Paypal Verification Funds Transfer Add Funds Problems | Tips & Tweaks

Thu, 26 Nov 2009 14:45:43 +0000

[...] number field in that form accepts 30 digits) Let’s assume that I do successfully link my bank account. Is there any way for me to confirm that it is MY account which has been linked to my paypal [...]

By: ajay

ajay — Thu, 05 Nov 2009 10:37:54 +0000

It is really very useful info..Thanks for this post..

By: qwertyweb

qwertyweb — Sat, 15 Aug 2009 01:23:26 +0000

thats really cool ! ,i just hope google adsense too create facility of directly withdrawing from paypal , so that a lot of time could be saves

By: Casper

Casper — Fri, 14 Aug 2009 14:40:32 +0000

$500 withdrawal limit per month if your account is not verified.
Before transfering the money, it gets converted to INR depending on the prevailing exchange rate. Paypal takes a small commission. usually around 2%.
Get your IFSC code from your bank branch where you hold the account. Verify your account by adding your credit card details for unlimited withdrawal.
Money gets cr4edited within 7 working days IF your account details match. otherwise it will be sent back to your paypal account after deducting 250.00 INR and any bank charges. So make sure your details are correct. i screwed up once and lost 250 bucks..

By: Sanjeev

Sanjeev — Thu, 23 Jul 2009 14:13:01 +0000

Though the question is bit weired, Is that true small retailers are making good amount of sales through their e commerce website useing paypal accounts

By: utapl

utapl — Sat, 07 Mar 2009 08:40:33 +0000

Hi All

I received money in my bank account.I am happy…………

By: hitesh

hitesh — Sat, 07 Mar 2009 03:59:42 +0000

You have to wait for 7 days.Money will be in your bank account in this period.

By: utapl

utapl — Fri, 06 Mar 2009 15:51:31 +0000

hi hitesh
when paypal transfer money in my account while status will completed? but this time status was completed but no money deposit.