Kiva withdrawal canceled?

Discussion in 'Kiva | Loans That Change Lives' started by HaveMilesWillTravel, Feb 1, 2013.  |  Print Topic

  1. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    Just received this email from Kiva:

    Anyone have any idea what could cause this failure of getting a withdrawal sent to Paypal?
     
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  2. estnet
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    estnet Gold Member

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    Got the same notice. Paypal said they had no record of payment from Kiva. I've sent Kiva an email.
    Must say I've had nothing but problems with withdrawals from them - may make me switch to another micro loan place. I know they operate with a lot of volunteers, but their IT really needs some improvement:mad::(
     
  3. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    This was my first attempt to withdraw funds. Not a good start. Since they say they process refunds manually, I am not sure it can be blamed on an IT problem. Maybe more the lack of IT?!

    Anyway, thanks for confirming I am not alone.
     
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  4. estnet
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    estnet Gold Member

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    No, actually they used to process refunds automatically but once I started having problems they said they had to process it manually b/c they couldn't figure out what was wrong with the IT system - anyway I just wish they would get it fixed!
     
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  5. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    The original confirmation email i received last Sunday said that withdrawals are manual.

     
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  6. gleff
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    gleff Co-founder

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    Watching the developments here with great interest.
     
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  7. canucklehead
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    canucklehead Gold Member

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    I hate that this is happening as it totally degrades the lender experience! If there is any way I can assist in getting this resolved please let me know via conversation.
     
  8. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    Thanks. I don't urgently need the money, so for now I'll try to submit the request again and see if it works, and if not, I'll be contacting Kiva.

    But yes, I do think that if any feature needs to work reliably and efficient, it is the withdrawal feature. Lenders put a lot of trust in Kiva, and not getting the money back when asking for it is real bad.
     
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  9. canucklehead
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    canucklehead Gold Member

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    Fully agree. Although I was not able to ask this during the Kiva insights discussion, the question re: lender withdrawals was submitted and if I hear back, I will be happy to share the response with the team to this and all the questions put forth from this and other teams who supplied questions to me.
     
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  10. estnet
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    estnet Gold Member

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    I too have no need of the money quickly, but the last few months have had problems (even tho the email says manual when I started having problems months ago the people I spoke with said it was automated and when there was a problem they had to do it manually - but then again every person I spoke to told me something different).
    Anyway I don't have hours to spend on this every few months so Kiva may lose me as a lender:( - well in a few years as i have lots of loans outstanding, but they REALLY need to fix this. Can't imagine we're the only 2 people involved.
     
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  11. miles and smiles
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    miles and smiles Gold Member

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    I've made many, many withdrawals from Kiva in the past three years, and never had a problem other than having to wait over a week for my money sometimes.
     
  12. YULtide

    YULtide Gold Member

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    Hmmm.... Withdrawal pains. :(
     
  13. estnet
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    estnet Gold Member

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    Yes that was my experience as well until I mistakenly tried to make a withdrawal that included money from a loan that didn't fund. Since then NOTHING but trouble - and many apologies for not being able to fix the problem from Kiva:(
     
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  14. Jaimito Cartero
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    Jaimito Cartero Silver Member

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    If it's happening to many people it could be a very troubling sign.
     
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  15. iolaire
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    iolaire Gold Member

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    I did two withdraws successfully at the end of the year. In both cases I left a few hundred in my account so I could keep funding without a depost (was waiting to do new deposits this year.)
     
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  16. fcjapan

    fcjapan Gold Member

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    The last withdrawals went alright, but had some troubles before those.

    After looking at this thread, I made another withdrawal to check.
    Did not get any message (yet) about Paypal rejecting etc. and seems to be processing without issue (so far).
     
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  17. HaveMilesWillTravel
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    It took about five days to fail. My request was submitted last week Sunday, if memory serves right. I got the failure message on Friday.
     
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  18. unavaca
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    unavaca Gold Member

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    Was it a big withdrawal? When I started pulling out larger amounts from Kiva last year, they made me switch to check withdrawals. I request a PayPal withdrawal, it gets cancelled a few days later, and a check shows up in my mailbox a few weeks later.
     
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  19. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    About $400. Less than 15% of what I have put into Kiva.
     
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  20. unavaca
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    unavaca Gold Member

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    I would reach out to Kiva support for clarification. PM me if you need a contact.
     
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  21. estnet
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    estnet Gold Member

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    Not sure how this helps - I would have said the same thing a few months ago, great that you have no problem but that doesn't explain why I and others do:(
     
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  22. canucklehead
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    canucklehead Gold Member

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    from what I have been told and experienced, it can be one of several reasons
    1) deposit via PayPal is equivalent to withdrawal in month
    2) repayments are high (most of the ones sent by check are >$1000)
    3) repayment request following a refunded loan

    the last one is a newer phenomenon but has been a concern for Kiva

    There may be other reasons for the problem.

    If it persists, I would be happy to help resolve the matter.
     
  23. miles and smiles
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    miles and smiles Gold Member

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    I do hope that you can get clarity. I do understand your concern. I keep a lot of money in Kiva, and I have been through a situation where my finances deteriorated and I had to withdraw virtually all of my repayments for a few months. So, yes, it is important that we can withdraw our investments when we need to.
     
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  24. gleff
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    gleff Co-founder

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    Curious why withdrawal after repayment of a loan would be a flag? Almost by definition wouldn't you have funds available once your loans are paid back?
     
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  25. HaveMilesWillTravel
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    Are you referring to "3) repayment request following a refunded loan" ?

    Refunded != loan paid back.

    But I don't understand why withdrawal after a refunded loan would raise a concern, unless they believe that one might use it for churning-without-loaning. Certainly not the case for me.
     
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