- Impact
- 46
Got paypal mail and saw the following post at paypal's blog.
Here is a summary of all the current restrictions for indian paypal users:
1. No more electronic withdrawal's to India from 1st August.
2. No masspay, no personal payments.
3. Only check withdrawals, which knowing indian postal system, may (or may not) reach us in a month or so. This i conclude from:
4. There will be a monthly withdrawal limit of $2500 too.
This is very bad news and i hope they restart electronic transfers again.
Update on PayPal accounts for India users
July 27, 2010
Hi everyone, it’s Dickson Seow, from the Corporate Communications team. I’d like to give you an update on PayPal accounts for our India users.
In accordance with regulatory instructions, there will be a change in our withdrawal functionality in India starting on August 1, 2010. At present, you can request for either an electronic or cheque withdrawal of funds from your PayPal account. From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.
We sincerely apologize in advance for any inconvenience caused from this change and 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.
Our India users can find the cheque withdrawal process here. In order to help you deal with this change and until further notice, we will refund the US$5 cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.
If you have any questions, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us’ at the bottom of the page.
Again, we apologize for any inconvenience caused from this change in our withdrawal functionality. We will provide ongoing updates to you here. We thank you for your attention and patience as we work tirelessly to resolve this situation as quickly as possible.
Here is a summary of all the current restrictions for indian paypal users:
1. No more electronic withdrawal's to India from 1st August.
2. No masspay, no personal payments.
3. Only check withdrawals, which knowing indian postal system, may (or may not) reach us in a month or so. This i conclude from:
So it will be processed in a week, then the rest will be no. of days for the post to reach. Also this estimate doesn't include bank processing time.Step 2: Click on the ‘Request a cheque from PayPal’ link. It usually takes 4 to 6 working days
to process the cheque (excluding delivery).
4. There will be a monthly withdrawal limit of $2500 too.
Step 3: Enter the withdrawal amount and select your mailing address, then click ‘Continue’.
Please note that a monthly withdrawal limit of $2,500 USD applies.
This is very bad news and i hope they restart electronic transfers again.