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.
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 :
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 :
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.
Related posts:
- Paypal Stopped Delaying Bank Withdrawal For Indian Paypal Users
- Paypal official Announcement on Paypal India Fiasco
- Paypal Refunding Withdrawal Fee Charges to Indian Paypal users
- PayPal Will Resume Bank Withdrawal for Indian Paypal Users From 3rd march
- PayPal Update on Withdrawing Money to Indian bank Account
- Paypal Stopped Personal Payment in India
- Finally Paypal Resumed Indian Bank Withdrawal with Purpose code
- Infolinks Response on Paypal India Refund fiasco
{ 40 comments… read them below or add one }
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.
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.
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
Sharad, only the ‘goods’ option seems to work currently, as the sender’s shipping address will be available only in this option.
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
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.
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…
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
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.
oh thats too bad, i think il use my paypal account for only online purchase and give, i wont withdrawal for some time .
Sri I will suggest the same . Don’t make any withdrawal for sometime till they restore every thing to normal.
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.
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?
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.
Paypal must come with some solution very soon…this is not going to help their case
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 $8 and returned it when I complained to the support center. There was no explanation from their side. Highly unprofessional.
I’m not doing any paypal transactions till things settle :\
What happen to PayPal ??
Really bursting service.I already faced the problem but not now.
It should be resolve soon.
why dont you use alert pay dude,alertpay is much better than paypal.i know paypal is very famous compare to alertpay but alert pay is good.try it
Twinkle I will definitely give a try….. What u say Harsh? And what about Payoneer buddy?
Paypal is not seems to be serious about Indians ( So called 3rd world in US language ). Paypal will have to pay for this . It has scammed almost every software developers and freelancers. I am Seriously looking for GOOD Alternative.
i am not doing any transactions with paypal till everything gets settled.
Do anybody have clue about when this gona stop??
i have tried Xoom twice, but looking for some fast and Online payment alternative.
I just lost few more bucks in conversion and reversal scam. Has anyone any idea when this thing will get fixed. Some say 9th feb . What about alternatives , xoom.com , payoneer.com , alertpay …..
The same happened to me, i lost 25$ 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…
never have problem with paypal before, when i want to withdraw.. it only take 2-3 days.. love it.
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.
Harsh , Have you got any reply of any sort from Paypal. What is the progress they are making with RBI ?
RBI is fast asleep.
Ministry of Finance is printing more Red-Tape.
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 $28
Paypal is still the market leader. Though there are many payment processors, your business clients and customers may still insist on paypal.
The leverage Paypal enjoys allow it a lot of leeway in dealing with its own members, though it is too early to call this as a scam.
I transferred 1,027$ 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…….
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…
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.
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.
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.
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.
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…
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!!!
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.)
U can use moneybookers that is very good service for withdraw cash to indian bank . they process transfer in 24 hours
harshdeep
paypal will resume withdraw option from 6th march