Paypal Indian Banks Issue – The Bozo For Indian Freelancers Has Just Begun!
I apologize for the pun intended, knowing straightaway that the bread and the butter of so many Indian freelancers, is at stake here. Being one myself, I can fully empathize with their concerns, but what shakes me up (And actually, ends me up in a split almost), is the speed at which people have reacted to the situation.
What is the problem?
Since January 26, 2010, individuals having Paypal accounts experienced two issues
- Paypal started reversing Personal transactions back to the sender of the payment.
- Freelancers faced problems withdrawing the money from their Paypal accounts to their banks.
Freelancers who have been using Paypal, an ebay company, as a premier online payment gateway claim that this is the first time they have experienced an issue of such magnitude. Already blogs written on this subject are fast filling up with comments and reactions. A gross survey of these forums clearly indicates to me that people are acting in a knee-jerk way.
How have people reacted to the Paypal Indian Banks issue?
Strangely and not so strangely, most Indians have reacted in the way they are known to react – In a knee-jerk manner. Some people have even gone to the extent of saying that they would file RTIs. Some have called it a Paypal scam. Hush, hush and some have said that the Paypal top management has run away with their money.
Oh my god – And even as I write, some more ridiculous responses come forth on this Paypal Indian Banks issue. Mind you – No one living in this world, except probably Paypal and RBI know what the truth is.
Sadly, there is no official word on this issue from both parties, at least specifically, though Paypal has admitted this is an issue they are facing and are working to quickly resolve this.
What is the truth behind the Paypal Indian Banks issue?
For starters, I wouldn’t be a fool to press a finger. I know for sure that there is definitely some problem with the Paypal NEFT Interface with RBI. Some reports suggesting that RBI has objected to Paypal’s request to work as a bank, may be valid, but is not approved as a testimonial because I am yet to see confirmed reports on the same.
The way ahead for Indian freelancers
Stay level. Don’t overreact. Paypal is a credible company and will not run away with your money anywhere. They have probably served your monetary needs for years. They seem to be in some strife, and I am sure they are working equally hard to work out of the strife.
It is true that for Indian freelancers, the bozo has just begun! But isn’t the bozo, a signal of fun anyways?
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Discuss this Article
Comments on this article
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 “Shit 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: EXPLICITLY BIG TIME YEAH! Question is why this is happening in India and nowhere else? Question is why we are being kept behind curtains and dark? Both from PayPal and RBI; you can just exclude the RBI over this since they are least concerned with creepy crawling insects and worms. 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 Destruction & 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 PS: COMING SOON TO A THEATER NEAR YOU” 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 switch them over to some other Payment system which is reliable, responsible and does the maing 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.
JAI HIND! MERA BHART MAHAN!
But i must say, paypal services are as good as ever.. They replied me with hours when i posted a query about my withdrawal.. I trust paypal.. Hope the issue will be resolved soon :)
Paypal has its own reputation at stake and they must be working harder than we think. We must cool down and wait for them to sort things out.
A well timed post.
A formal mail from their side anticipating this issue could have been good, but they sent none and instead kept on reversing the payments till feb 05 saying they were personal payments when they were not!
They didnt handle the communication well, that was their mistake and it caused a huge mental agony for the guys here.
We have been using paypal since long and we intend to use it, but they should have behaved in a much better way than this.