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

Ok. thanks. I might have to consider check withdrawal now...

 

But there is a limit of USD 500.00. to withdraw to CC. Is this monthly limit? Can this be increased?

 

I think the withdrawal limit is only for unverified accounts. Do you have a verified account with PayPal?

 

I think, a verified (terrified) account holder can withdraw upto $2500 per month.

 

Yes mine is a verified account.

I just checked again it says "This transaction cannot be processed, please enter an amount less than $500.00 USD"

I had already withdrawn USD 300 on 11th Feb. And today I can again withdraw USD 500.00

So this $500 limit is per transaction and not total for month or whatever.

Does anyone else has this per transaction limit?

 

Verified account can withdraw 2500$ monthly and there is no ristriction for withdrawing u can withdraw 100 or 2500 at any transaction...

 

Are u sure?

 

You withdrew to CC? Please give procedure. Also how do I get money out of my CC? I mean hw do i get hard cash?

 

i want to know about this as well. any one.

 

I withdrew to CC as lot of business purchases are done using my CC. So it will settle as payments for my CC. So I don't need to withdraw hard cash as such.

Otherwise you can always withdraw cash from CC using ATM. I guess the cash withdawal limit will depend on your CC agreement. Interest will also apply on it. So it may not be very practical to do so.

 

Is it possible to transfer the balance from credit card into a bank account?
I am not aware of the procedure to do so... but I guess it should be possible!

Regards,

RightMan

 

Isn't this limit actually applicable for withdrawal to bank accounts and not CC accounts?

 

Maybe you should try this at the ATM. It's not possible online with HSBC at least. Vice versa always possible

 

PROBLEM in Third week now!

 

India is always have hard time with those whose name starts with letter ‘P’, like payment, paisa, politics, politicians, Pa*****n and now PayPal.

 

Last time I checked with my CC provider they said that the balance of CC and the cash withdrawal balance are separately considered. So if your CC limit is Rs 30000 and your Cash withdrawal limit is Rs 10000. And if you withdraw Rs 30000 to your CC then your O/s balance will be -30000. But your cash balance will be Rs 10000 only. You cannot compensate your excess paid CC balance to your cash withdrawal balance... those are separately held.. The exception to this is Citibank credit cards where both the balances are held as a whole and not separate.

 

I want to withdraw through Check but on the withdrawal page it says:

I need to deposit the check in my local Axis Bank account. Can it be cleared there?

 

I guess Psyche didn't read my last post well enough..

 

Hi Guys,

has anyone tried the check withdrawal option recently (ever since this bank deposit problem started)? if anyone receives the check from paypal please let us all know. I am not too sure if we made the withdrawal by check (like we used to do ages ago) our banks will process it. some members here mentioned that they receive an email notification from paypal telling them that we can now withdraw the money through check or credit card. but do you think check processing will be any different from NEFT processing? since RBI has already sent circulars to all indian banks about non-processing of paypal payments. RBI has screwed us all big time!! lets take some action. we shouldn't be just sitting around and do nothing. I already posted the contact details of RBI spokeperson in my previous post. Good luck!!

 

Don't know what will happen now, but in the past I used to deposit checks to a local bank (State Bank of Bikaner & Jaipur), but never had any problem other then that it requires more time to cleared.