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    Paypal Scammed Indian Paypal users With Reversed Transaction fees

    By in Tech Updates

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    We were already talking about Paypal issues from last few days and in case if you missed it, you can read them :

    Though finally everything is coming back to line and paypal is restoring money which was on hold for bank withdrawal.

    Today almost 1000$ which I requested for withdrawal on 27Th January, is refunded back into my paypal account and I can see them in my account. But I’m very much disappointed with how Paypal is scamming people with this refund fees.

    paypal scammed thumb Paypal Scammed Indian Paypal users With Reversed Transaction fees

    You can see here in the above picture that I transferred 1,050$ from Paypal account to my bank account and due to paypal issues with RBI in India, they put this transfer on hold and today they reverted back that amount into my paypal account.

    The thing here is in return of my 1050$ they reverted back only 965$. That means there is no accountability of remaining 85$ in this transaction.

    Here is another picture of my other transaction which is also reverted back and see the amount difference :

    another paypal scam thumb Paypal Scammed Indian Paypal users With Reversed Transaction fees

    So in few days I lost almost 130$+ without doing anything wrong. And this is not only me but also other users are facing the same issue.

    Here is one of the pic shared by Mayur, who is also scammed by Paypal the same way :

    mayur jango thumb Paypal Scammed Indian Paypal users With Reversed Transaction fees

    Though paypal will surely put this thing on conversion rate and other thing, though its  a white mask scam. This is just the case of 2 users which is mentioned above, and there are many others who also lost their hard earned money this way.

    I will appreciate an official comment from paypal member who can give us better clarification on this issue.

    If you are a paypal India user, I’m sure even you must have something to share with us. Do let us know if you lost something in this whole scam or you were the lucky one.

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    { 50 comments… read them below or add one }

    Ashish Mohta

    It would be wrong to call this as Scam. Its more about buying and selling currency. When you buy you get high rate and thats what happened with paypal. Paypal got a higher rate and thus you got less.

    Paypal should come out with some clarification here. Its not good.

    Reply

    Mayur

    I’m very angry now coz of this PayPal mess. They should have temporarily disabled Withdraw option if they were having such issues. Also, how can they charge fees when the fault is from their side.
    PayPal is highly unprofessional, they haven’t made any proper announcement on this mess yet.

    Reply

    Sharad Poddar

    Hi Harsh,
    Are you aware of any such transaction where Goods/Services Payment was reversed too? In my case, I asked my clients to repay the amount as “Services” and it got reversed too. I was on call with PayPal last night and they gave no clear answer.

    I am surely gonna explore PayPal alternatives. I have never seen such an unprofessional act by any corporate.

    Sharad

    Reply

    Gouri

    Sharad, only the ‘goods’ option seems to work currently, as the sender’s shipping address will be available only in this option.

    Reply

    Sagar sawant

    Yeah even one of my friend faced the similar issue of reverse transaction 5 days ago,in his case he xfered 130$ to BOI. :|
    Paypal is a Big #Phail

    Reply

    Puneet

    Harsh, Now you should write a post about Paypal Alternative.

    I feel for you as your lost 130$ without your fault. I hope they will return your hard earned money.

    Reply

    Harsh Agrawal

    Puneet the issue is there are many paypal alternative but Paypal is one of such service which is globally used and accepted. I’ m still looking for better alternative…

    Reply

    Puneet

    Till now, I have been paying my webhost via paypal. I do not own a International Credit Card. Dont know how am I going to Pay my host at the end of this month.

    Hope this issue get resolved asap

    Reply

    Simran

    Even I’m looking for a best alternative to PayPal for the last few days but I’m not able to find such service. At present PayPal is best as its accepted everywhere for payments. No such facilities are available in any other website. I’m facing such problems first time with PayPal. I hope they will resolve the issues soon.

    sriganesh

    oh thats too bad, i think il use my paypal account for only online purchase and give, i wont withdrawal for some time .

    Reply

    Harsh Agrawal

    Sri I will suggest the same . Don’t make any withdrawal for sometime till they restore every thing to normal.

    Reply

    smartin

    I lost around 100$ on bank reversal conversion charges. Paypal has waited for a day of low INR->$ rates, and immediately reversed the amount. Shame on you guys. This is not professional business ethics. And you proved that you are ready to go any extent for making $$$s. If you want money say it clearly in your terms and charge. If its technical issue then send a mail to your customers to clarify their doubts. You should have provided at least 1 day time limit before imposing major changes. Any government or business establishment will give necessary time for implementing changes, or you can request for that. So you can’t just say sorry and charge customer accounts. Now the ball is in your court. Prove that you are not guilty by revealing everything happened, or just cover customer losses.

    Reply

    Sriraj

    Yep, just saw now.
    The 800USD withdrawal converted to 35780 INR on Feb 2, which now only converts to 740 USD.
    The remaining 60USD is not shown under transaction fee. Also I don’t believe that as much as 60 USD difference can be shown from 2 to 9 feb during currency conversion.
    Sure the Dollar has increased this week, but 60 USD is just blowing out of proportion.
    What shall we do harsh?

    Reply

    EliteTrooper

    this is wrong..paypal has reversed all the type of indian transaction to banks only….

    it has done a refund of the complete amount..
    No money has been lost.

    Reply

    Tushar

    Paypal must come with some solution very soon…this is not going to help their case

    Reply

    Dnyanesh Mankar

    I’ve had some bad experiences with PayPal in the past. They charged me $27 for nothing and then on my request returned it to me without saying anything. Next time they did the same and charged about $8 and returned it when I complained to the support center. There was no explanation from their side. Highly unprofessional.

    Reply

    ShoutMeme

    What happen to PayPal ??
    Really bursting service.I already faced the problem but not now.
    It should be resolve soon.

    Reply

    twinkle thomas

    why dont you use alert pay dude,alertpay is much better than paypal.i know paypal is very famous compare to alertpay but alert pay is good.try it

    Reply

    Abhijeet Singh

    Twinkle I will definitely give a try….. What u say Harsh? And what about Payoneer buddy?

    Reply

    Abhay Kochar

    Paypal is not seems to be serious about Indians ( So called 3rd world in US language ). Paypal will have to pay for this . It has scammed almost every software developers and freelancers. I am Seriously looking for GOOD Alternative.
    i am not doing any transactions with paypal till everything gets settled.
    Do anybody have clue about when this gona stop??
    i have tried Xoom twice, but looking for some fast and Online payment alternative.

    Reply

    Sourish Nath

    I just lost few more bucks in conversion and reversal scam. Has anyone any idea when this thing will get fixed. Some say 9th feb . What about alternatives , xoom.com , payoneer.com , alertpay …..

    Reply

    Amal

    The same happened to me, i lost 25$ like this, but since the amount taken from me was less, i didn’t care much. But any way this is such a bad thing about paypal. They just wait for the lowest conversion rate and suddenly transfer the money.
    Its not the users who should be penalized for problems caused by them (paypal). This scenario was purposefully created by them to loot money from Indian users, as they took advantage of the RBI’s issue. Any way if we users ie Indian’s can join together and go against them they wont even survive…

    Reply

    izzat aziz

    never have problem with paypal before, when i want to withdraw.. it only take 2-3 days.. love it.

    Reply

    Shivanand Sharma

    I wouldn’t consider this a scam however it’s one side-effect of currency conversion at different rates. The larger the amount you withdraw, the bigger the gap. I’ve mentioned some paypal alternatives on my blog but at the end of the day I’d really like to have my own merchant account and process credit cards myself.. Check out direcpay by timesmoney — I find that small freelancers like us can use it.

    Reply

    Sourish Nath

    Harsh , Have you got any reply of any sort from Paypal. What is the progress they are making with RBI ?

    Reply

    Roshan

    RBI is fast asleep.
    Ministry of Finance is printing more Red-Tape.

    Reply

    Faheem Bhati

    Hey guys,
    I withdrew $400 and after reading this post I just checked my paypal account; I’m shocked paypal is showing $372 as reversed amount. I lost my $28 :(

    Reply

    Paul

    Paypal is still the market leader. Though there are many payment processors, your business clients and customers may still insist on paypal.

    The leverage Paypal enjoys allow it a lot of leeway in dealing with its own members, though it is too early to call this as a scam.

    Reply

    Madhava

    I transferred 1,027$ from Paypal account to my bank account they reverted back only 950$. That means there is no accountability of remaining 77$ in this transaction. I send email to paypal regarding this, I loose $77 equal to Rs.3500 which is huge and not at all acceptable thing… Is we have any chance to complain about paypal in india to government…….

    Reply

    TechZoomIn

    Harsh,

    I requested around $1800 to my bank a/c and they reverted it back. I lost around $150 in this transaction. PayPal is not even responding to mails… How can they give diff conversion rate when they revert back.

    All bullshit business it is…

    Reply

    Madhava

    I got email from paypal about reversal of bank trasfers and deduct in balance…….

    Dear MADHAVA ,

    Thank you for contacting PayPal.

    We would like you to know that we currently having an issue with bank
    withdrawals. We are already aware of this issue and I sincerely regret
    the inconvenience it has caused you. Our technicians are working to
    resolve this matter as soon as possible. Due to this issue, the bank
    withdrawals were being reversed. After the reversal, your funds might
    have been lower than the original amount you had in your account. This
    is because of the conversion rate. Since it is PayPal’s issue, the
    difference in the amount that was deducted in your account for the
    currency conversion will be credited to your PayPal balance within the
    next 24-72 hours.

    Reply

    Kaml

    Hi Guys,Take care to your all paypal transaction to your bank account in India.
    In Feb6,I have transfer $606 from my paypal account to Bank account. The paypal accept the transaction and the request was in process to bank account,but in 2 days i got reverted the amount and it was $565.The paypal had deduct the $41 for the reverse transaction.Even i have no fault and not got any notification or any message at the time of money transfer.
    So now I think Paypal is very cheap company with no rule & regulations and earning the money like this way.

    Reply

    Pritush

    it seems they are doing this for earning earning extra money from fees, as they don’t apply fees to personal transactions . They have also not stated the reason for blocking personal payment in india.

    Reply

    Madhava

    Hey I got Favourable response from Paypal regarding reversal of fees.

    After the reversal, your funds might
    have been lower than the original amount you had in your account. This
    is because of the conversion rate. Since it is PayPal’s issue, the
    difference in the amount that was deducted in your account for the
    currency conversion will be credited to your PayPal balance within the
    next 24-72 hours.

    Reply

    Nihar

    It is very sad to hear about this. I am happy that i didn’t do any withdrawal transaction in these last few days.

    Hope they again start lift the ban on India paypal users…

    Reply

    Roshan

    Its amazing that people do not realize that PAYPAL is losing money too by shutting down services.

    The fault lies with Govt. of India Arrogant, Moronic Clerks and Babus. Why did they have to force PayPal to shut-down, why can’t PayPal be allowed to function, while the whatever issues they have are resolved!!!

    Reply

    Shivanand Sharma

    Do we also realize that RBI had been sleeping all these years and never noticed PayPal conducting such business in India. And one fine morning they wake up and stop PayPal’s business. Don’t you find it strange? (…or maybe PayPal forgot to bribe the babus this year.)

    Reply

    harshdeep

    U can use moneybookers that is very good service for withdraw cash to indian bank . they process transfer in 24 hours

    harshdeep

    Reply

    harshdeep

    paypal will resume withdraw option from 6th march

    Reply

    Nagesh

    Hi Harsh,
    Looks like the thread stopped on Feb 27th. I have a unique problem. They put my account on a “limit” and won’t let me withdraw. Of course they charged the fee already for the withdrawl. They want me to resolve by adding a new account or credit card and contrarily because my account is in “limited” status their system just won’t let me add any new account. So much for a company boasting 150 million accounts world over, can’t fix minor glitches in their systems. There is no phone number, every time I click on the “speak to us” link it gives my account information and below that paypal contact information is all blank. I sent an email…we shall see.
    These guys suck in a huge way with their service. They just want to dole up all the money in fees and not provide any service.

    Reply

    Harsh Agrawal

    Hey Nagesh
    You can use this link to contact Paypal guys
    https://www.paypal.com/cgi-bin/webscr?cmd=_contact-general
    Regards
    Harsh

    Reply

    Nagesh

    Harsh,

    Thanks. I did and they are responding via email, so now it’s a wait and see game.

    Thanks again,
    Nagesh

    Reply

    Web Talk

    I have got some bad, nasty experiences with PayPal in the past. They charged me $12 for nothing and then on my request they didnt even reply to me…very rude!

    Reply

    Haziq

    I need help! I live in Kashmir and have an account with J&K Bank Ltd. When I tried to withdraw my $150, it bounced back and I found only $140 in my acc. I want to know the correct info for my bank. BTW, I am using the basic (starter) plan of PayPal. I am really angry with this. How do I get to know the correct info of my bank acc?

    Reply

    Harsh Agrawal

    Haziq did you verify your bank account details ?
    You need to verify Paypal account with your bank account and more over your name should be same on paypal and into your Bank account.

    Reply

    Amey Dharwadker

    I have a verified Paypal account which I had connected to my Corporation bank account. Today I lost $25 because my transaction got reversed. I thought that the issue with RBI was now resolved. What should I do now? When can I withdraw the money to my bank account?

    Reply

    Anubhab

    Don’t know what the hell is going on. I tried to withdraw funds to my verified corporation bank account and it was reversed back to my paypal account with a huge sum of it deducted. I have transferred money before and it did not happen last time. So I contacted paypal and they told me to contact my bank. I was really horrified when I contacted my bank manager. He showed me the money was indeed transferred but it was not carrying any account number of mine. Instead all of it was replaced with zeros, hence the bank rejected the amount. I say paypal have devised a genius way to reap out hard earned money of its users.

    Reply

    Ravi

    Are you guys still facing the same problem with Paypal. I am geting some funds to my paypal account. If this problem still persists I need to look for other payment options.
    Please let me know.

    Reply

    J.Vazrakar

    Same case happened with me. But i communicated with PayPal customer care, Where the deducted amount is being returned to me. There are ways, where we can communicate with the care team. I hope, you could also do that.

    PayPal is reliable online bank compared to other providers.

    Reply

    Arup Adhikari

    Paypal is really mess for Indian User. I get paid from a USA citizen to create a Website for him.. I have created Website for him.,…. Now he has filed a Unauthorized Transaction Claim for that transaction with paypal. He was also threatening me that he need His money refund, he is a American, so I have to do what he say,he has big hand in Paypal etc…
    But I am very much disappointed with paypal.. I send them all the Information for review. But Paypal make decision in favor of the person. I worked almost 25 days for the website and created a full website for him, But Paypal refunded the money to them.. It seems , as he is an American , so he get back his money in wrong way.. Paypal has no intention to take decision for any indian , even if they produce evidence.
    Paypal is really a mess for indian.

    Reply

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