There are reports all over the web that the Paypal to Bank withdrawals which were made between Feb 19 to Feb 24 are being delayed and not being processed in the Indian Bank Accounts. But in a interesting situation i made a withdrawal of a small amount on feb 26th and another withdrawal was made on March 3rd which is yet to be completed.
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.
The paypal withdraw funds facility is generally completed within 2-3 business days and delayed only in case there is a public holiday at any end and you can find the funds credited to your account with no extra charges because there is a fixed rate of charge on the funds withdrawn to your bank accounts which is 50Rs for funds withdrawn below 7000Rs and no charges if the amount is above 7000Rs.
When i contacted Paypal.com regarding this issue they notified me saying that this is normal and the funds would be credited on time but this is a serious problem as most withdrawals made in this period are not yet credited to the customer accounts.
Next when i contacted the ICICI Bank India Account Manager regarding the issue they confirmed me that they are also looking up my account activity in detail for any pending funds credit and will update if there are any receipts.
Did you get any problems with the Paypal to Bank withdrawal recently? If you got any success in the transaction do let me know because the information may be helpful to many other Paypal users who are still stuck with the payments which are shown Completed in their Paypal accounts but are not really completed.
This problem is faced by 99% people. Hopefully will be solved asap.
Even I did a transaction on the same day when it was 49.7 rs per $. The exchange rate was 48.15Rs. and it was ended soon by 25th of Feb. No probs for me…
Paypal with drawl to india are delayed. it has been more than 14 days and no withdrawl.
I mailed to paypal paypaljason@ebay.com . the reply was
” Thank you for providing me the specifics of your impacted transaction. PayPal is aware of the situation and is working to resolve it as quickly as possible. We have an internal report on accounts that are affected and I have added your information to the report so that your specific concern can be addressed as part of the resolution of the matter.”
I dont know whats the hell is going on
Tarakesh
Yes. Even we are facing this issue with over Rs. 65000 blocked in the transactions. Till the issue is not resolved, we are holding of from withdrawing any amount from Paypal. Please update me if any of you guys receive the payment.
Ruchir
this is crap i just withdrew 10k from paypal 200 usd and i got it in my icici in 2 days
I withdrew on 18 Feb and till 6th March there is no sign of money in my bank. this is awful
I faced same problem in Feb 2008. I requested 5000 Rs to my Canara bank account. Its arrived after 6 months… That is I received my withdrawal amount at October 2008.
But that is not problem with paypal. It’s big problem with Canara bank. They don’t know about Paypal. They are asking,… What is paypal…? Where Paypal bank is located… ? Like this… 🙂
My friend also withdraw money during this period and he didn’t get money till now.
What is going on? I have also withdrawn $500 on 26th and haven’t received the payment till date. Any idea when it will be credited?
We withdrew funds on 20th and 26th Feb and neither of these has been credited to us yet. Received a reply from Paypal saying they are looking into the issue.
Guys, don’t worry. I have received the payments today. Check your bank acct. It will be there. njoy 🙂
Did you process the withdrawal the same date as february 19?
I withdrawed mine last feb 19 2010 and still i didnt receive the money. this is very very frustrating.
Hi, after that email to PayPal i got my funds today. Check your bank account you might have got the payment too
Today rec. the below email from Paypal.
We recently encountered a system issue which caused a withdrawal(s) that you initiated between February 19 and March 5 to be delayed. Please note that we have corrected this issue and the funds should post to your account within the next 5-7 business days.
We sincerely apologize for any inconvenience that this may have caused you.
Sincerely,
The PayPal Team
HI I guess all of you might have got funds, i emails pay pal and their response was
Dear Tarakeshwar Rao,
Thank you for contacting PayPal. We regret the delay in responding to
your service request.
Hello my name is Mary Grace, Thanks for writing to PayPal’s Customer
Support. I realize that this situation can be frustrating, and
appreciate the opportunity to help you resolve this issue.
I sincerely apologize for the inconvenience this has caused you.
The PayPal website experienced slow-loading, as we were upgrading the
system to provide better service. Some people were unable to access the
site or complete transactions.
We have completed the necessary maintenance to resolve this situation
and we sincerely apologize for any inconvenience these delays in service
may have caused you. Thank you for your patience and for choosing PayPal
as your online payment service!
It should be on your bank account since we have already submitted it to
them you just have to update and give them the information such as the
date and amount of the withdrawal.
We appreciate your patience and understanding regarding this matter, and
wish you continued success on PayPal.
Sincerely,
Mary Grace
PayPal, an eBay Company
Copyright © 1999-2009 PayPal. All rights reserved.
Consumer advisory – PayPal Pte. Ltd., the holder of PayPal’s stored
value facility, does not require the approval of the Monetary Authority
of Singapore. Users are advised to read the terms and conditions
carefully.
I recently tranferred an amount 350 USD to my Citibank account which had took only two days. There had not been any delay regarding transfer from PayPal for the past few times I had used it.
But, really it might have been a pain in the a$$ when you had to wait for months altogether to get the money credited when you have transferred it when you are in some dire need.
PayPal team’s response is quite good too.
Hi,
I had made a withdrawal of $500 from my PP account to my bank account (ABN Amro) on 23rd March.After this transaction, my PP account came to about $19. That was the remaining balance. However, when i checked my PP account on 26th, I was surprised to see close to $480 in my PP account! How come this happened? Will i get my money back?
Please help
Thanks,
If you got charged then its Return fees and it seems like you entered some wrong information for your Bank account.
OH by my mistake i have withdraw the funds to my wrong bank account. I think i am gone :(.
What paypal and bank take action on this mistake ?
Please help
Sandeep if you gave wrong Bank Account Details, you need not worry because within a weeks time you will find the money back in your Paypal account with a 250Rs Return Fees in your Bank Account.
I have made a PP withdrawal on May 11 to my HDFC account and still have not received the funds which is weird since usually it takes only 2-3 days. Is the PP withdrawal problem ongoing? Has it not been resolved? I wonder when I will receive the money.
SUna! Did you recive your money? Because I withdrawed on may 25 and till now it is still pending! 🙁
Same problem here, though the delay is only a day. I am still waiting for the funds to arrive. i really hope PayPal fixes this, sometimes the banks are not to be faulted, really.
I withdrew some money recently, and that has not been credited into my account yet. Early feb it is now, similar problems in the same time of the year?
I mailed paypal and they just replied to me saying that they are aware of the problem and that they regret the inconvenience and stuff. Clearly this is not a problem with NEFT as all my other NEFT transactions are going through smooth. Paypal has not initiated the transfer from their end, or are waiting for the USD value to fluctuate a bit before they initiate the transfer so that perhaps they could make a little bit more money.
I have made a Paypal withdrawal on
jan 26 to my ICICI account and still I didn’t received the funds today Feb 3. when I will receive the money.
Hey Ravi And Veena
I also have made a 572.67USD paypal withdrawal on Jan 27 to my HDFC account and still I didn’t received the funds. Please any body have same problem
I too am facing the same as i withdrawn on jan 27… I have contacted the paypal people. There is only 1 reply everytime…
Hello I’m Joseph and thank you for contacting PayPal.
I sincerely apologize for whatever inconvenience this issue has caused
you and the trouble you had to go through to contact us and have the
same addressed. I greatly appreciate the opportunity to offer my
assistance.
I understand Amarendra that you would like to get assistance on your
withdrawal on January 26, 2010.
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.
The status of your withdrawal is ‘Completed’, which means it has
completed through the PayPal system. Please note:
* PayPal has no control over the length of time it takes your bank
to post their credits, and we do not receive confirmation when your
credit has been received by your bank
* Usually, if there is a problem with the transfer completing, it is
rejected back to PayPal and the funds are reversed back into the PayPal
account
* At this time, this transaction has not been rejected back to us.
Therefore, we suggest that you contact your bank and ask to speak with
someone who works with Electronic Funds Transfers. This Department
should be able to verify that your deposit was received.
* If you are unable to locate the deposit at your bank, and the
status of the transaction is still listed as completed, we can initiate
a trace on these funds once 14 business days have passed. In this case,
please contact us and our Customer Service will provide all the
information to initiate the trace procedure.
Thanks for your patience and collaboration.
Thanks for sharing your concerns with us. We value what you have to say,
and we know situations like this can be difficult. If you have more
questions, visit our Help Center by clicking “Help” in the top right
corner of any PayPal page.
Sincerely,
Joseph
PayPal, an eBay Company
Copyright © 1999-2010 PayPal. All rights reserved.
Consumer advisory – PayPal Pte. Ltd., the holder of PayPal’s stored
value facility, does not require the approval of the Monetary Authority
of Singapore. Users are advised to read the terms and conditions
carefully.
Original Message Follows:
————————
Form Message
customer subject: Withdrawal Delay to indian bank Accounts
customer message: Additional Information: ‘I have received an email from
paypal regarding the withdrawal delay on ##st January. I need to know
how many more days it would take. Its really causing an inconvenience.
Thanks
AJ
Let us know if any one facing the same problem as we are had got their account credit. Thanks
when it will be problem solve.
Hi,
I initiated two transaction on 27th Jan and 2nd Feb but that money is still not credited into my account.
In the previous year also this kind of problem happend same time. And this is again, we are sure that it’s due to paypal this thing happening. They making the business really a headache..
When it will be solved?
I withdrew on 27th Jan and 3rd Feb but that money is still not credited into my account.I have contacted the PayPal people. There is reply from PayPal..
Dear Kavinder,
Thank you for contacting PayPal.
I have checked your PayPal account and it shows that you are referring
to the withdrawal you have initiated on January 28, 2010. Please be
informed that 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.
The status of your withdrawal is ‘Completed’, which means it has
completed through the PayPal system. PayPal has no control over the
length of time it takes your bank to post their credits, and we do not
receive confirmation when your credit has been received by your bank.
Usually, if there is a problem with the transfer completing, it is
rejected back to PayPal and the funds are reversed back into the PayPal
account. At this time, this transaction has not been rejected back to
us. Therefore, we suggest that you contact your bank and ask to speak
with someone who works with Electronic Funds Transfers. This Department
should be able to verify that your deposit was received.
If you require more information other than what I have provided, you can
visit http://www.PayPal.com/101 or you can also give us a call and we will try
our best to give you immediate answers. Thank you for choosing PayPal
for your online payment needs. We appreciate your business.
Sincerely,
Ann
PayPal, an eBay Company
Copyright © 1999-2010 PayPal. All rights reserved.
Consumer advisory – PayPal Pte. Ltd., the holder of PayPal’s stored
value facility, does not require the approval of the Monetary Authority
of Singapore. Users are advised to read the terms and conditions
carefully.
Hi Kavinder, To which bank you linked to PayPal. I have one big experience with Canara bank. I got my money after 2 months… because their Electronic Transfer system is not good. but you I don’t have any bad experience with Other Indian banks.
I withdrew some amount from paypal on 28 FEB. but still i didn’t get my money in my bank account. generally it takes 2-3 days, but this time it taking too much time.
I mailed two time to paypal
they replied
“Thank you for contacting PayPal.
My name is Catherine, and I hope everything is well with you. I greatly
appreciate the opportunity to assist you today.
We are currently experiencing an issue processing withdrawals to Indian
bank accounts. As a result, there may be some delay in withdrawals from
your PayPal account to your bank account. We apologize for any
inconvenience this has caused, and are doing all we can to resolve the
issue.
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.”
do anybody knows when this problem will solve.
Thanks
Does this affects to Business A/c transfers or only to personal a/c transfers ?
Holalalala,
I withdrew 7500 euros(equivalent of 460000 INR)in three transactions two weeks back, not aware of the present situation of Paypal with India Banks.
And now i am in trouble. I dont know wheather this is a total loss.
Is Paypal still reliable ?
Will i get my money sooner or later ?
Please give me some feedback with your experiences or awareness.
Will be grateful to you.
Thanks
Rahul
Read this which can help you in understanding the current situation! https://www.amitbhawani.com/blog/paypal-india-withdrawal-alternatives/
I have made 4 withdrawals from my PP account on the 12th of Feb, 2010. I haven’t yet got the funds in my ICICI Bank account. I know understand the delay after reading this post. I hope my hard earned cash won’t be lost?
I have created an account on xoom, I wanted to know how can I transfer funds from my Paypal account to my xoom account and then withdraw from xoom to my bank.
Thanks in advance!
You dont have to worry because paypal will refund you 100% of your money back to your account and then you can login to xoom and withdraw money. It will ask you to add funds from paypal and the transaction is completed.
Hi Amit,
How to withdraw money from xoom. I have created the xoom account today.I can see only payment can be sent to india but no withdrawl facilities.Kindly advise. The transfer of money from paypal to my bank account has not yet processed more than 2 weeks 🙁
How to withdraw money from Xoom? I can see only sending money to India. Folks i have come across while i was surfing the net. I would like to share this to all who are facing problem.
PayPal suspends service in India
By Liau Yun Qing, ZDNet Asia
Monday, February 08, 2010 04:43 PM
Online payment service provider PayPal has put some of its services in
India on hold temporarily, and is reversing funds requested through
PayPal India, according to reports.
PayPal spokesperson from the communications team, Anju Nayar, said in
a blog post Saturday that “personal payments to and from India and
transfers to local banks in India have been suspended” as the company
works with business partners and stakeholders “to address questions
they have about the service”.
Nayar wrote that customers can still make commercial payments to
India, but merchants will not be able to “withdraw funds in rupees to
local Indian banks”. An Associated Press news report noted that the
suspension took effect on January 28.
In Indian blog Pluggd.In which focuses on start-ups, writer “manish”
posted last Friday about an e-mail from PayPal saying “funds requested
through PayPal India are being reversed to their senders, and users
have no access to them”.
There’s no word on when the suspension will be lifted, though PayPal’s
Nayar said the company is trying to resolve the situation as soon as
possible, and is “really sorry” for the inconvenience visited on its
customers in India and worldwide.
Xoom also has been close services for Indian Bank If you are going to withdraw money from paypal to your bank account ..!!!!!
There is no need to worry now. Paypal is going to Resume Funds Withdrawal to Indian Bank Accounts from March 3rd 2010. No need to try out the alternatives now.
Hello Amit sir..
Its a really good news. how did you get this helpfull news?
Through paypal post and a email which was sent to most account holders
Hope it will be work ..Thank you
Hi Folks,
Amit has already shared the good news. Here are some more details about Paypal resuming services to Indian Banks.
From the 3rd March we would be able to withdraw money from our paypal accounts to the Banks but what will happen to the amount that we had withdrawn earlier and thats not yet credited into the bank account. Will it comeback to our paypal account or will it get credited from the 3rd of March onwards. Need the answer as I am quite nervous with the delay.
Although my account is verified, I am unable to withdraw money to my bank account. I get this message : “Accounts with limited access may not perform this type of electronic transfer.”
However there is no mail from Paypal/anything in the resolution center informing me that my account has been limited or what I should do in order to withdraw funds. can you please let me know what to do?