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

PayPal kept their promise. My check withdrawal fees $5 were refunded.

 

23-Feb-2010 Fee Reversal From Cancelled Fee Completed Details $5.00 USD


27-Feb-2010 Transfer From PayPal Completed Details $5.00 USD




but type of payment for first one is fee reversal and other one is transfer from paypal

 

If that is the code they are are looking for, then we are doomed, as it would not be possible for us to get it, as we are not exporting or importing (but just giving service), at least most of the here in DP!!

what else we have to do now, I think its all over with paypal, only option left is cheque withdrawal for us...

 

i dont think so. it batter to ask one who knows law, or wait till 3rd march.

 

Do not get disappointed as export of services is similar to exporting any physical goods and one can obtain IEC code for offering services as well. You got to have a PAN card for obtaining such a code as only one code is allotted to one pan card number!

Regards,

RightMan

 

Yes. you can withdraw to tthe Gold Debit card (if it is ALREADY linked to paypal)
There shouldn't be any problems with the transfer. SBI officials tell that VISA sends the money to your branch (that should happen with 4-5 days), after that, the staff at your branch will manually credit it to your account.

And, in the unlikely case of failure, funds will be returned to Paypal. (this may take time)

 

guys, I have Axis bank Gold Debit Card (VISA). Is it possible to withdraw funds to my card? I'm yet to add the card. Please do tell me this..

 

Can any one share details about offshore USA bank accounts. I have a payoneer one and it works properly. I heard few accounts like this. If anyone share related details, then we have another option to withdraw money.

Thanks
Blog.

 

Yes PAN Card will be enough for us and I think PayPal will provide an option to add different codes including PAN Card number as RBI wants to show money on paper and PAN Card no is also enough to show all our Money transition.

 

Lucky you, I am still waiting for the check processing fee to be returned back as promised!

 

Great news people, PayPal has officially confirmed they will be resuming the bank withdrawals by March 3rd. See this blog post and you must also receive an email from them regarding the same.

Thanks. Finally I can start selling my Auto Blogging Software with confidence

Regards,
Carty..

 

Hey i got this mail from paypal

PayPal

Dear X XXXXX,

We have been diligently working with the RBI and our business
partners to resume Indian bank withdrawals for the thousands
of Indian businesses who depend on PayPal to sell their goods
or services in the global marketplace.

Today, we are happy to announce that the RBI has allowed us
to continue local bank withdrawals for settlements for exports
of goods and services. We are currently making changes to
comply with Indian regulations for settlements for exports of
goods and services, and we anticipate that, as of Wednesday,
March 3rd, customers will be able to use our
bank withdrawal service.

As part of the changes, you will be required to fill out a
new field entitled 'Export Code' when you request a withdrawal.
This information is required under the current laws of India in
order to identify the nature of cross-border merchant transactions.

On Monday, March 1st, we will be back in touch with specific
instructions on how you can move your money into your bank account.

Moving forward, the RBI has told us that PayPal needs specific
approvals to allow personal remittances to India, which we
currently do not have. Until we get these approvals, personal
payments into India will remain suspended. However, if you are
an exporter, you will continue to be able to use the PayPal
service for payments of goods and services. In fact, with the
changes we are making to our system, PayPal is now set to be a
more powerful engine for exporters in India. With purpose codes
for export transactions and FIRCs (Foreign Inward Remittance
Certificates), you should now be able to get the export
related benefits you seek.

You can check the PayPal blog for additional updates.

www.thepaypalblog.com

We thank you for your business and for your patience during
the past few weeks.

Sincerely,

PayPal

 

I also got same few minutes ago.

Thanks
Blog.

 

But you need the export code

 

Yeah!! I also think so.
Even some of the Ad Networks are making the PAN Number mandatory for Indian Publishers.

 

Finally I got this now.

Dear Shabbir Bhimani,

We have been diligently working with the RBI and our business
partners to resume Indian bank withdrawals for the thousands
of Indian businesses who depend on PayPal to sell their goods
or services in the global marketplace.

Today, we are happy to announce that the RBI has allowed us
to continue local bank withdrawals for settlements for exports
of goods and services. We are currently making changes to
comply with Indian regulations for settlements for exports of
goods and services, and we anticipate that, as of Wednesday,
March 3rd, customers will be able to use our
bank withdrawal service.

As part of the changes, you will be required to fill out a
new field entitled 'Export Code' when you request a withdrawal.
This information is required under the current laws of India in
order to identify the nature of cross-border merchant transactions.

On Monday, March 1st, we will be back in touch with specific
instructions on how you can move your money into your bank account.

Moving forward, the RBI has told us that PayPal needs specific
approvals to allow personal remittances to India, which we
currently do not have. Until we get these approvals, personal
payments into India will remain suspended. However, if you are
an exporter, you will continue to be able to use the PayPal
service for payments of goods and services. In fact, with the
changes we are making to our system, PayPal is now set to be a
more powerful engine for exporters in India. With purpose codes
for export transactions and FIRCs (Foreign Inward Remittance
Certificates), you should now be able to get the export
related benefits you seek.

You can check the PayPal blog for additional updates.

www.thepaypalblog.com

We thank you for your business and for your patience during
the past few weeks.

Sincerely,

Also see https://www.thepaypalblog.com/2010/02/resuming-local-bank-withdrawals-to-india/

 

It will be a problem. Anyway Now I use a payoneer virtual account to withdraw funds. So it will be a nice method to prevent that one.

Thanks
Blog.

 

Guys, problems resolved, here's what i just got from paypal,

PayPal

Dear xxxxxxxxxxx,

We have been diligently working with the RBI and our business
partners to resume Indian bank withdrawals for the thousands
of Indian businesses who depend on PayPal to sell their goods
or services in the global marketplace.

Today, we are happy to announce that the RBI has allowed us
to continue local bank withdrawals for settlements for exports
of goods and services. We are currently making changes to
comply with Indian regulations for settlements for exports of
goods and services, and we anticipate that, as of Wednesday,
March 3rd, customers will be able to use our
bank withdrawal service.

As part of the changes, you will be required to fill out a
new field entitled 'Export Code' when you request a withdrawal.
This information is required under the current laws of India in
order to identify the nature of cross-border merchant transactions.

On Monday, March 1st, we will be back in touch with specific
instructions on how you can move your money into your bank account.

Moving forward, the RBI has told us that PayPal needs specific
approvals to allow personal remittances to India, which we
currently do not have. Until we get these approvals, personal
payments into India will remain suspended. However, if you are
an exporter, you will continue to be able to use the PayPal
service for payments of goods and services. In fact, with the
changes we are making to our system, PayPal is now set to be a
more powerful engine for exporters in India. With purpose codes
for export transactions and FIRCs (Foreign Inward Remittance
Certificates), you should now be able to get the export
related benefits you seek.

You can check the PayPal blog for additional updates.

www.thepaypalblog.com

We thank you for your business and for your patience during
the past few weeks.

Sincerely,

PayPal

 

Same I received. Companies who are providing services, by using paypal how can get IEC Code. Is Giving service is = export services.

 

Got the same mail, an hour ago..