PayPal Resumes Bank Withdrawl In a Few Days By March 3.

Ok Hope its true and they stick to it then we don't need to worry for this CODE at all
Cheers

 

Wow i was pretty sure they will be providing the code to us.. i just hope it stays that way

 

If its IEC then how can PayPal provide this code ? PayPal is a private company and not authorized to provide such codes.
But hey, keeps hopes up and enjoy Holi.

 

If they are doing so many transcations in India why cant they take up .. remember paypal must be registered in india as they have a research center here

 

This is definitely useful mate. Thanks for this thoughtful addition.

 

Thanks Don bhai for it! I guess PayPal generate own code from their system for your transitions and which will be submitted to RBI and we have to use that code whenever we need to withdrawal.

I wish I will be right.

 

Thanks DON, That's really good news, keep us updated.

 

@ DON

Great work, dude!

I have always believed that the IEC and the 'Export Code' would not be the same thing as in that case PP would have asked us to get IEC from GoI and also they would have mentioned IEC and not 'Export Code'. Your posting is just substantiating my belief.

Hoping for the best by tomorrow.

 

yep this will be great for us if it worked out

 

Hi,

We IT coders work as freelance , so are we called a Exporter? do we need to get a License to do freelance WORK?

 

Lolz, thats why I was saying its better to wait..

 

Thanks to PayPal, hope we'll get the code when they'll mail us next on 1st March?

 

Lot of clarity is needed.. .We will know about it in the coming days.
My feeling says , the 'export code' is the IEC code and paypal will not be providing it. (although for everyone on this forum i hope its not!)

The thing is how will they verify the validity of this code ? Its not like the IEC is linked to your bank account, so there is still lot of ambiguity , lets all just wait n watch.

P.S - Suggest everyone to just withdraw through check the amount they need for the coming month , so atleast everyone will have enough cash for coming days.

 

@ Rushh,

The PayPal people themselves mailed me about this issue, please have a look at the content of the mail

Dear xxxxxx xxxx,

Thank you for reaching out to us. I?m contacting you on behalf of
Farhad Irani regarding your email below.

You will not have to have a registered business and PayPal will be
supplying you the code that you need. Any India PayPal account that is
receiving payments for goods and or services will need to have a code in
order to withdraw funds to a bank account.

We appreciate your patience and understanding regarding this matter, and
wish you continued success on PayPal.

Sincerely,
xxxxxxxx
PayPal Customer Solutions
PayPal, an eBay Company

 

so that means they will provide the code so we dont need to apply ?

 

ipshita089,

Thats pretty clear from PayPal, lets all hope everything is back to normal!

Thanks and repped!

 

I think, we should all wait for the next mail from PayPal. Everything will get cleared with that.

 

That's Awesome dude, Thanks for your efforts, I have mailed them as well. Im sure PP will provide us the code and on that behalf they will be dealing with RBI to keep the track on transactions on each account. Just a Guess, hope for the best.

 

WOW! thanks DON and ipshita! such a relief on IEC confusion