Paypal Notice:- Change in Withdrawal of Funds from PayPal Accounts for India Users

[murali]

Hi Indian Wapamsters Friends We got another sad News from Paypal. From 1 august We cant Withdraw funds direct to our bank. From July 29, 2010 onwards, We will only be able to request for a cheque withdrawal of funds from your PayPal account.

Check Your emails for more details.

[firemax]

yeah , i got this email. what happen to paypal?

[slowy]

ya, i got it too, but thay said "While we are working hard to restore the electronic withdrawal service, in the meantime, we are bringing this matter to your attention so that you can plan your future withdrawal activities accordingly."

[subzero]

india banks have too many errors as they are not setup with [ paypal ]

each bank system has id of the other banks and info its a bank or payment system...

Don't worry it will be back as soon they talk to them banks...

[slowy]

Problem is, if paypal issue check in USD for Indian then it will take:

1) At least 15 days for check to arrive via LOCAL post (they do not courier)

2) If issued in dollar amount, then another 30 days for conversion and credit to account.

If you use clickbank.com then you might be knowing that clickbank sends earning in first 2 checks, then funds transfer.

Best option for Indians would be:

1) Get account at Plimus.com (apply for payoneer card through them, free of cost)

2) Transfer your paypal earning to Plimus account (almost 7.5% fees of plimus) by making your own purchase

3) For sales made between 1-30th, they pay on 15th of next month (Still faster then check payment)

4) On 15th, they will shift account balance to your payoneer master card and you can withdraw that money instantly from any ATM.

5) Or select there "Wire" option, so you will get money by 18th of next month for sale between 1-30 of previous month.

Hope it helps!

[heykooldude]

Paypal has been having issues with RBI.
Hope they sort it out soon.We could be up for some more changes.

[morse]

india banks have too many errors as they are not setup with [ paypal ]

each bank system has id of the other banks and info its a bank or payment system...

Don't worry it will be back as soon they talk to them banks...

I prefer to differ, there is no problem with the indian bank system or its technology. The problem is however with the bureaucrats who sit at the top and churn out numerous stupid policies. Just to portray that they are against money laundering activities they squeeze the channels which a common man can utilize for fund transfer, while on the other hand they and their colleagues have millions and cumulatively billions of dollars stashed in swiss bank and various other banks which are not party to the economic watchdogs.
Not wanting to make it an off topic... Paypal should restore the direct to account money withdrawal feature as it really was beneficial.

[Anshul]

paypal dont want to conrol by anyone and RBI dont giv a **** :P i even stopped working as a freelance bcoz its of no use to stuck ur money in it last time i lost many dollars grrrrrr

[slowy]

problem solved.