Paypal can be called the eCurrency fueling the online commerce allowing payments and money transfers to be made through the Internet, powered by 73 million active users it operates in 190 markets allowing customers to send, receive, and hold funds in 19 currencies worldwide including India. However, for some unknown reasons Paypal has now blocked personal payments to be sent to or from India - add to that they are reversing transactions made during past two days sending back the money to senders automatically.
Users are being sent the following email leaving them with no option but to watch money fly-out from their accounts.
Hello XXXXX XXXXXX,
Your payment of XXXX has been sent back to the sender of the payment.
We reversed this payment because we have stopped allowing personal payments to be sent to or from India.
If this was a payment for a purchase of goods or services, and not a personal payment, then you may contact the buyer and have him or her resend the payment as follows: (a) click the Send Money tab, (b) select "Goods," and (c) provide a shipping address.
If this payment was a personal payment such as a gift, then we have requested that the sender find another payment method until we restore personal payments to and from India.
We are trying to resolve this issue as quickly as possible and we're sorry for any inconvenience.
They are even making your Paypal balance negative, this is surely going to get ugly.