There are many electronic transfer options available these but PayPal is used as major electronic transfer mode for all modes of payments i.e. goods purchase or service. PayPal is known for its service quality and reliability but which is under a big question mark in the past few days. People from India are facing a major problem of withdrawal of money to their bank account. This issue started from January 27th and it is still prevailing. While this issue is still under confusion the other major issue was resolved pretty recently which also prevailed from 1st of February. The payments sent to Indians were REVERSED back to the sender and all the receivers were sent an e-mail regarding this. Though PayPal claimed that this issue is only for PERSONAL PAYMENTS to and from INDIA this prevailed for all types of payments sent. This issue was fixed recently and all the amounts reversed were sent to all the senders. All these issues may be because of the technical difficulties that the PayPal is facing now.
Mr.Anju nair from PayPal has stated in a blog said that “personal payments to and from India will be suspended for at least a few months until it fully resolves the questions from Indian regulators.” People who tried to transferred money to their Indian bank accounts are really disappointed because PayPal deposited the money back again deducting the fees but anju nair has said that “Fess amount will be reimbursed” which has not been implemented so far.
For a question about transfer to Indian bank account Mr.Nair said “We’re working with the regulators and our bank-processing partners in India to get this resolved as quickly as we can. We realize that this is causing considerable inconvenience to our customers and I want to reassure you that this is a top priority for the leadership at PayPal,” It has been confirmed that PERSONAL PAYMENTS to INDIA is stopped as if now and Mr. anju added “The sender will need to find another payment method until we restore the service.” To a question about the reversal he said that “amounts can be retrieved by logging into the PayPal account and clicking the ‘Resolve Negative Balance’ link on the ‘Account Overview’ page if the sender refuses to send it back again”
PayPal being the leading payment gateway must take an immediate action these issues and react on it to save all its Indian customers without being diverted to other options.
