Anyone else got the email alert after withdrawal (Indian Paypal Users) ??

Hey dude , the money form the cc goes into your bank account or what??

 

Money doesn't go to bank account if you withdraw it on your credit card. The Withdrawal to CC is beneficial if you have regular purchases on your CC and need to pay bills every month. If you withdraw on your CC and withdraw cash the bank charges 2.5 % cash withdrawal fee on your CC so its not feasible also. Thats why CC withdrawal isnt a long term option.

 

Yes , but i asked someone and he said if the account is linked then the money goes into your bank account..

 

Well congrats man... You did it. lol.

 

ok. But the account linking is only limited to payment of your credit card bills through online banking and stuff.. I wish the other way around was possible. But unfortunately its not.

 

Well Xoom and CC both worked great for me.

 

yea that i know , but contrasting views everywhere...

3% fees , hmm...If we withdraw 20k cash we have to pay 600 as fees...Seems no other option is there..

 

Just now placed a withdrawal request by CC, hope it will come soon.

 

Still bent on the lawsuit I guess... Well if you get a decision on your little law suit before the issue clears then let all of us know.

 

I don't mind paying fees but the then there's another problem... IF we withdraw more than 2 lacs in a year then CC Co. reports our account to the Income tax department directly. As it is the reporting policy of credit card companies. So if you are a regular and punctual tax payer then this wont be a problem..

 

Oh ok....everyone should pay tax

 

No. It doesn't.

I can withdraw the money with 2% cash withdrawal fee (your bank might charge a different amount).

I am trying to see if VISA money transfer can work between credit card and debit card ;-)

 

Buddy..this is not the right place to promote your services.. you will have only negative impact..

 

i smell spam here... you are promoting your twitter url that thread....
be careful moderators are very strict here on DP and they may ban you

 

except this all other threads regarding PAYPAL INDIA should be deleted and members should be warned for creating similar threads

members r making new threads every hour with same questions

 

I second You..

 

Well then starts the fun. No amount of talking on phone can solve the issue. The morons at the help desk wont understand a thing

You have to wait for 60 days from the date of issue before instructing paypal to cancel the check. They will charge you for that. And then refund the money into your paypal account after verifying that the check has not yet been cashed Obviously you lose that day's currency conversion factor in your refund. A total loss.

Check withdrawal which is sent by ordinary post comes to you after 25 days. A huge risk when 3 times my checks were lost. I am not sure why paypal doesnt charge 25 USD for sending the check by courier like google adsense.

I have lost 3 checks by post so far. The bank transfer option was very good. Unfortunately paypal ran foul with RBI. My auditor was questioning me on this for the last 3 years and now RBI has pulled the plug

As an aside, if you withdraw in your company name (check is in company name), then you need to put your company seal and sign at the back of the check (in the portion alloted for it) or the morons at Citibank will return the check.

Presently I tried withdrawing through XOOM. I have 2 confirmed accounts through XOOM but the XOOM guys caught up with me and have now asked to delete one of the accounts as their monthly limit per household irrespective of the number of accounts is 6000 USD

CC is not an option for big time withdrawers

I am now tearing my hair as I dont want to risk my money withdrawal through other channels as RBI has now woken up to the fact that there are other players like Paypal

USD has to come into India as USD Not as Rs.

That is what XOOM is doing I think. They send the USD here and PNB converts them to INR. That would explain the small diffreence in amount when you actually withdraw from XOOM and when you get paid here in India.

Paypal does the conversion at US into Indian Rs, sends the Rs to their indian account here, from which it is disbursed to your account. Which means India loses out on the USD earnings by us Indians. RBI says bring in the USD.
Not sure when this mess is going to be cleared.
My employees have not been paid salary since Jan and i have enough money locked up in Paypal

 

Fact-ful post.
since XOOM is the only alternative now,
Does anyone know if xoom has issues with paypal accounts verified with vcc?

 

Just for your update Xoom also stopped working for Indians from i think 18 feb

Reference: http://forums.digitalpoint.com/showthread.php?t=1706489

 

But my friend did it perfectly fine. I am not sure if xoom has stopped. Even their home page says it is still working...

I went half way tho the payment gateway and it worked.

Please recheck this some one...