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Is there any conflicts between PayPal and RBI????

Discussion in 'Payment Processing' started by indianachu, Jul 27, 2010.

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  1. #1
    I got a message from PayPal today that PayPal Indian Users, can only withdraw a cheque instead of NEFT made on July 29, 2010 onwards.

    This is the second time I think, a conflict rise between PayPal and RBI.
    At the first time they had blocked all the withdrawals to Indian Bank Accounts. Now they are limiting it to a cheque withdrawal.

    Another thing is, the message go on like this,

    "In order to help you with this change and until further notice, we will refund the $5 USD cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards. "
    So my question will we get this $5 only after the withdrawal? Then it will be another one from PayPal.

    The reason I think is, they are going to strictly enable Pan Card updation for withdrawals from PayPal to Indian Bank Accounts. When I contact an RBI Official, Thiruvananthapuram, they gave me this vital info.

    Is there any one got the same info? Please make your reviews.
     
    Last edited: Jul 27, 2010
    indianachu, Jul 27, 2010 IP
  2. spearojack

    spearojack Member

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    #2
    No I have not get any information related to enable Pan Card Option in Paypal. When this problem will resolve? I think RBI and our Indian government don't want to see happy Indians.
     
    spearojack, Jul 28, 2010 IP
  3. And

    And Peon

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    #3
    Yes,there is a rift between paypal and RBI.Because of that only,Paypal has put a hold on bank withdrawls for 30 days.
     
    And, Jul 28, 2010 IP
  4. csebharat

    csebharat Guest

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    #4
    Today is last day to bank withdrawals in paypal .I had requested 250$ today will they send to my bank or not? any one else requested today?
     
    csebharat, Jul 28, 2010 IP
  5. emiley

    emiley Active Member

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    #5
    How do you know that they have put a hold for 30 days ?
     
    emiley, Jul 28, 2010 IP