Indian Paypal Users Screwed Again

Got paypal mail and saw the following post at paypal's blog.

Here is a summary of all the current restrictions for indian paypal users:
1. No more electronic withdrawal's to India from 1st August.
2. No masspay, no personal payments.
3. Only check withdrawals, which knowing indian postal system, may (or may not) reach us in a month or so. This i conclude from:

So it will be processed in a week, then the rest will be no. of days for the post to reach. Also this estimate doesn't include bank processing time.

4. There will be a monthly withdrawal limit of $2500 too.

This is very bad news and i hope they restart electronic transfers again.

 

Yes, but they have mentioned that they have waived off $5 withdrawal fee, which is a slight consolation but still I would prefer that they restore the electronic transfer asap.

 

yes I hope so...

 

so it takes a total of atleast 15 days to reach the bux to our home..it is a very sad thing again..Hope it gets resolved soon..

 

I hope so too. But the sudden announcement is making me feel scared !

 

so that's today only this is going to apply from 29th

 

I have query regarding this now when i request cheque withdrawal $5 is refunded to my account or i have to pay $5 for each withdrawal

 

Yes you get paid $5 for each withdrawl. Moreover, guys I have been requesting PP cheques from the past 2 months and it comes within 2 weeks, sometimes in 10 days . Try for yourself and see because it gets posted from Singapore and not USA

 

Really ! People say it takes approx. 25 days. BTW, you have your account in which bank ?

 

It does not matter which bank your account is in. What matters is, in which city you are located in. If you are located in the metros or big cities, then it is within 14 days flat.

 

Any idea, what could happen if the cheque is lost on transit? I guess they will not send a registered post for the cheque or will they?

Also, should the cheque be in Indian Rupees, or Dollar?

 

even worse, the check withdrawal limit in my paypal shows just $800. i have verified premier and i am truly worried. The reason why $800 shows up i withdrawn checks for $1000 and $700 during feb/march. By default $2500 which is the monthly check withdrawal limit. It looks like paypal is not doing the reset monthly.

 

are pay pal trying to shade india out?

 

Normal Post
INR

I lost 250 $ approx in cheque, cancel and again request !!

 

am so sory for that please.

 

If you have an account in CitiBank, it would take only a couple of days or should I say the normal banking transaction period for getting your money. Last time around in March, i tried that and it worked. They issue a Citibank DD, so it processes faster there. The problem is, that is my salary account. Again, opening a seperate account there means maintaining 25k avg balance .


So am confused on what to do next .

If you guys wish to get faster money, opt for CITIBank.

Thanks

Army

 

Check out http://www.paypal-apac.com/india/

"We’ve received good news. India users can do electronic withdrawals right now as you did before.

In appreciation for the loyalty from our India users, we will extend the processing fee refund of $5 USD for any cheque withdrawals made from July 29, 2010 until further notice.

Thank you,

The PayPal Asia Team"

 

What are they trying to convey here? I am confused! It is better that we wait for some time before we withdraw in both ways!

 

I am so confused! Can we withdraw our funds via electronic transfer now ?

 

Sorry but there are Mass Pay to India. I send loads of them every single week.
On the rest yeah PP and India have seen better days