Hey Guys, I just had my paypal check dishonored. The withdrawal was requested on 26th Feb(due to RBI banning wire transfers) , check received on March 22nd. Check deposited on March 22. As there is no Citybank in my city so it was an out station check. Check bounced on April 2nd .... I am sure that it could not have bounced due to insufficient funds in PayPal's Citibank Account. As checks are valid for 6 months, so it can not be validity issue. Also it can not bounce due to problem in name spelling as its all pre-typed. The bank account number was correct as I have been charged for bounced check. So, I am wondering if its another problem with PayPal-RBI or is the effect of new policy that was imposed on paypal few days back that says: * Any proceeds or earnings received into your PayPal account from the export of goods and services should be withdrawn to your bank account within 30 days. If its the result of new policy, then we now have only one method of withdrawing money. That is direct wire transfer to bank within 30 days of receiving money. Very frustrating ! Looks like Indian government don't want to be friendly to Indian service exporters and it does not want us to use PayPal.. But do they have an alternative for us to accept money?
The check has bounced because of the 30 days and not because of the problems with RBI. Moreover cheques have 6 month period and not 1 month Many have received cheques within 30 days and they have been cleared too.
My paypal cheque is cleard in 2 days and scriptlance cheque which was in $$$ was cleared in exact 3 weeks ( 21 days ) Its really worrying thing for all Indian paypal users, Indian regulations are childish. This should not happen for a country which says they are top developing country.
I also requested a check on feb end and got it at end of 30 days but it was cleared smoothly in just 2 days,, don't know what problem you are facing right now.
yep! no problem with the checks. i got a check on last week of march and got cleared without any problems. should be your account name.
Whenever a check bounce it comes with a bouncing reason... Ask your bank reason of bounce... they will provide you that for sure...
Do you need to sign at the back of the cheque as in the case of Adsense cheque ? get to the bank and ask for a reason.
I dont think it will bounce due to paypal reason there should be something wrong, Whats the reason of returing bank have mentioned?