If you thought your worst nightmare was over last winter, think again!
While many indian PayPal users were sleeping peacefully after a day of hard work expecting everything to run smoothly in their life, PayPal has emerged as a spoilsport again.
According to an overnight update from PayPal, Indian users cannot withdraw money via electronic transfers until further notice by the PayPal authority.
An official email has been sent to every Indian PayPal user advising them to withdraw monthly via Check starting from 29th of July, 2010.
As per PayPal’s official Blog,Dickson Seow, from the Corporate Communications team, has written an update from the PayPal department instructing the Indian PayPal users to withdraw money via PayPal check for the moment. Here are the details:
PayPal was facing problems with Indian authorities in past, where the Reserve Bank of India had blocked direct transfer to bank accounts. But it was restored around March 3, 2010.
So what to do now?
Don’t panic! PayPal guides you through the folloiwng instructions to initiate a check withdrawal
Follow the steps belows:
| Please note that there will be a change in our withdrawal functionality in India starting August 1, 2010. At present, India users may continue to request for both an electronic and cheque withdrawal of funds from their PayPal account in India. From July 29, 2010 onwards, India users will only be able to request for a cheque withdrawal of funds. To help our users with this change, PayPal will refund the $5 USD cheque withdrawal fee for cheque requests made on July 29, 2010 onwards. To request for a cheque withdrawal: Step 1: Log into your PayPal account, click on ‘Withdraw’.
Step 2: Click on the ‘Request a cheque from PayPal’ link. It usually takes 4 to 6 working days
Step 3: Enter the withdrawal amount and select your mailing address, then click ‘Continue’.
Step 4: Click ‘Submit’ to confirm your request. Please be reminded that any payments received into your PayPal account from the export of goods and services cannot be re-used for making purchases or any other payments.
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2 Responses to PayPal Does It Again: Withdrawal Restrictions Imposed on Indian Users
lixon
July 28, 2010
Alert pay..lets give a try
Dev
July 28, 2010
Dont know who is the wrong man “Paypal” or RBI Unit
It suspense but this is truth, They are big pain for New start-up
I’m sure 100% issue from Indian Govt lets see what happened in global world