Elance seemed to say that the paypal payment reversing issue has been resolved. However, resolved in this case seems to mean that paypal has assured the freelancing sites of something positive. Rentacoder has sent reversed payments back to paypal and elance has posted that the issue has been resolved. To clarify about rentacoder, my paypal balance is 0 now again back from the negative value, because RAC has sent the payment to paypal again.
But the issue is not actually resolved as far as withdrawals to the bank is concerned. That seems to be the current status. And yes, the withdrawals to the bank is still showing as completed while the bank accounts do not show the transaction. If the withdrawal that I made in the beginning of feb are actually completed, then rac has sent me double the amount they owe me, which does not seem likely. Paypal should atleast update the status of the bank transactions they show to ‘failed’ or something. Do let me your situations in the comments.
Links:
Elance: See the update on the top http://elance.zendesk.com/forums/30972/entries/108402
Paypal: https://www.thepaypalblog.com/2010/02/personal-payments-and-local-bank-transfers-in-india/
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