Withdrawal to India banks from Paypal through XOOM is Working. Confirmed and Tested.

today morning i got the amount in my bank

 

Guys, it is a sure thing that paypal have to obey RBI.. that means, 12 transaction per year something.
Xoom also telling they only allow 12 transaction per year...

So we have paypal+xoom - 24 transactions per year.
Then use MoneyBookers, AlertPay or some other alternatives also...

Now my question is, what is RBI going to do with our transaction history?
Seems IT Department will catch plenty of online earners...

 

Deposit in Progress - Final Update: Usually means your payment may be sent by cheque to your bank, not NEFT. The partner bank will courier the cheque. Your bank has to receive it and credit it to your account. ICICI may update only after the cheque gone through local clearing. You can check with ICICI about this.

HDFC updates account as soon as the cheque is received but money available after cheque goes through local clearing (usually one day).

 

From where did you get this 12 transactions story?

 

Please see this Western Union agent's website:

http://tradexindia.co.in/Western.html

Regulations and Restrictions In India

Receiving in India: As a government requirement, maximum payout amount is not more than $2,500 US Dollars (or IN Rupee equivalent) per transaction.
Maximum cash payout for all Indian nationals and all residents (Indian or Foreign) is 50,000 IN Rupee; Payouts over 50.000 IN Rupee will be paid by local crossed check only.
There is no cash Payout limit for foreign passport holders in India.
As a government requirement, a payee can only receive a maximum of 12 transactions per calendar year.
Payee must present valid identification.

General Information:
Sender's full address must be included on all Money Transfers to India.
Pursuant to Indian government regulations, money transfer payments are reserved for private consumer use only and cannot be used for commercial or business purposes, for purchase of property, or for investments.

http://www.thehindubusinessline.com/2009/09/26/stories/2009092651190600.htm

Mr Anil Kapur, the Managing Director, South and South-East-Asia, Western Union Financial Services

What changes would you like the Reserve Bank of India to make in the regulations governing the money transfer business?

The restrictions — a resident individual cannot receive more than 12 transfers in a year and each transfer should not exceed $2,500 — if possible, should be relaxed or reviewed.

 

Mine Status is " Feb 16, 2010 11:02:09 AM Partner Processing " But money is credited in my bank account , i am wondering what was happened . Did any one had this kind of issue . .

 

kindly note western union is for personal payments only. these 12 transactions restriction was there years ago- not new thing.

But PayPal/xoom - 12 transactions may be for personal but not business.

xoom can be used for business : https://www.xoom.com/sendmoneynow/home?receiveCountryCode=IN

 

Definitely it is a great news for us.But I am waiting for some more proof.

 

Hello everybody,

I have started blogging after got into this kind of situation created by paypal & RBI. Anyways i have also tried xoom for transfering my money. Before that i have asked them about the service and they said:

Thank you for getting back to us.

We are sorry for the inconvenience caused to you. Please be informed that within India you can transfer only to yourself, using your verified pay pal account as a payment source, to your bank account. To transfer funds you need to provide complete (sender's detail, recipient's detail, your verified pay pal account details, and your bank account detail) to get the funds be transferred. By providing these details, It takes 2-3 working days to get the funds to be deposit.

Please let us know if you have any further queries.

So, I think it is possible to deposit funds from paypal to xoom & then to yourr own bank account. And i have already requested for a transfer to my own bank. Today is the 3rd day. I am still waiting for the deposit to be happen. I will keep you update about it.

 

many of us already transferred by this way already, me too!

worked perfectly for me got fund from paypal to bank account using xoom within 18 hours! really fatafat! as their slogan says.

 

You should read the thread completely...
https://www.xoom.com/sendmoneynow/help/what-are-the-bank-deposit-requirements-in-india

"According to the Reserve Bank of India (RBI) regulations, our partners in India are strictly required to observe the rules for money transfer companies in India. With that in mind, each recipient can receive up to 12 transfers per financial year (April-March)."

Now think about PayPal is going to obey RBI?

 

Well,

I am also waiting for the same to be happened for me. I wish i would get the money by today evening at my bank account. Lets see.

 

I know RBI is good for us but... if RBI restricts 12 Paypal transactions/year then at least I have to face great trouble, could not withdraw when I want... . Paypal transactions were quite good despite of low rate we could withdraw as soon as get money. only for few people RBI is restricting to get payments from abroad and those people who send from India to swiss bank then RBI hide somewhere ... huh! disgusting!

if we can show all valid documents then how come RBI allow us 12 transactions/year!

 

guys xoom cancels all my trasncations plus doesnt bother to reply to any of my emails... what should i do ??

 

Give them a call it will be helpful

 

i guess once they flag an user, then don't allow that user to send money anyway.

Did they get your documents?
is your paypal - verified ? personal/premier?
have you tried with same email paypal+xoom sender? different one for Recipient?
Different phone numbers?
are your bank account name/sender name/recipient name and addresses same? try with small amount

 

1) They dont bother i am ready to give docs if they need but that would only happen if they ever reply

2) Paypal is verified and its premier account

3) Same name.. same name... same address nothing worked (actually it worked first time after that kept cancellling) i even tried asking a australian friend send me and it cancels too

4) i tried 2 numbers

5) all are same and i also tried a small amount like 100 still same

 

@ Bohra..Sorry to hear this mate..dont know why its nowworking for you.

I just had 3 transactions with xoom..1st got clear on day 2, Second i requested on Sat and Finally I found a check of that amount in my ICICI bank linked balance ( Check Due )
Hopefully it will come by eve.Last night made 1 more 1k$ transaction so I am just 1k$ away from monthly limit.

Is there any problem with your bank account ? I mean which ac u using ?

 

I am sure they have flagged you!
But weird that it may happen to me or anybody also after first successful transaction.
So xoom is not reliable too!

Someone help us to make cross boundaries fund transfer smoothly and from RBI's red eyes as well!

 

Thats so sad....Cant understand why they cancel some transactions just like that...some random pick or wth...