Problem Withdrawing Via VMI
A couple of weeks back, my withdrawal through Paypal using VMI card was rejected. Of course, I was shocked as I have never had any problem withdrawing for almost a year now. Then, I received an email from Paypal:
An electronic funds transfer from your PayPal account to your bank account was declined by the bank. Typically, this happens for one of the following reasons:
The bank account number does not exist or is otherwise invalid
- The bank branch listed in your PayPal account does not exist
- The bank does not accept electronic withdrawals
- Other reasons not specified by the bankBefore attempting another withdrawal to your bank account, please check that you have the correct information from your bank, and update it in your PayPal profile if necessary.
I then wrote to my VMI agent and she informed me that Virtual Money had changed their ACH system. Thus, I had to add my card to Paypal with the new coordinates. A few days after adding the new ACH coordinates, I found out that my Paypal account access has been limited. This means I cannot withdraw nor receive funds. This result in another panic.
I logged onto my Paypal account and read from my dashboard that I needed to fax over a couple of documents for verification. One of the proof required was the US bank account statement and there was no way I could obtain that as I only had the online statement which was not acceptable. Thus, after faxing all other documents, I explained to Paypal that I was using the VMI card. I had my account restored but was requested to give them authority to remove the VMI card linkage to my Paypal account as it was not a valid US bank account. So, I was unable to withdraw my Paypal money through VMI from then on.
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February 20th, 2008 at 9:02 am
haha..i’m also having problems..but not with VMI…just a normal Visa Debit card. Problem is I don’t even have a fax!
Sigh..this emailing back n forth is quite tiring coz I keep ending up writing to the wrong person…
February 21st, 2008 at 10:59 am
hmm… will it happen to all of us who transfer to the VISA debit card huh?
So mah huan! Anyway, the USD rate is very low now so I’ll just let my $$$ sit in there… and do some online shopping again!
February 25th, 2008 at 10:00 am
i also have similar problem..so what i do i just spend my paypal money shopping as now i an a diaper craze..hehehe