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

Discussion in 'PayPal' started by deluxdon, Jan 31, 2010.

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  1. Psych

    Psych Peon

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    #4621
    Well they are a business institution ad they do it for profit.. What more reasons do you need. They do the 2.5 % commission on the $rate to protect themselves from the exchange rate variations. They don't force us to use their services. What they are doing of paying us in INR is kind of a favor and more convenient. It frees us from the filing of documents, declaration etc every time we get forex in India.SEMrush
     
    Psych, Feb 15, 2010 IP
    SEMrush
  2. Psych

    Psych Peon

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    #4622
    Also the checks are issued in INR now from PayPal. SO there''s no need to convert USD to INR when the check is deposited. The conversion is already done online at the time of withdrawal and you get equivalent amount in INR.
     
    Psych, Feb 15, 2010 IP
  3. Psych

    Psych Peon

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    #4623
    Well if the country has matured rightly as you say then these things should have taken place automatically. We shouldn't have had to ask for a status update on RBI. As for losing track... no ones losing track.. But PP have been very co-operative since this issue. They have also released statements from responsible persons just to let us know that the issue is being looked after. As for the govt... In general we all know what is the speed with which they work. RBI is no exception. And being the premier regulatory institution in India and having a lot of things on their hands is no excuse. No ones stopping them from applying whatever ways they want to set things right.
     
    Psych, Feb 15, 2010 IP
  4. Psych

    Psych Peon

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    #4624
    Well.. maybe you didn't feel the heat.. But compared to what happened in thousands of miles away and the way recession hit India... we DID feel the heat.... As for the regulators.. its their job ..that's why they are here.. they aren't doing any favors by making us not feel the heat of what happened in US if we didn't feel it.. If they are doing a job just do it right...
     
    Psych, Feb 15, 2010 IP
  5. Psych

    Psych Peon

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    #4625
    A size of an organization is not an excuse to not do a thing properly.. Every organization is to work properly in their own way whatever size they are...
     
    Psych, Feb 15, 2010 IP
  6. uzhavan

    uzhavan Greenhorn

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    #4626
    hai guys i need some clarification, can i transfer the amount from my personal a/c to my business a/c? will it cause any reversal problem?
     
    uzhavan, Feb 15, 2010 IP
  7. Nick_Mayhem

    Nick_Mayhem Notable Member

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    #4627
    New Update: https://www.thepaypalblog.com/2010/02/an-open-letter-from-farhad-irani-on-the-situation-in-india/

     
    Nick_Mayhem, Feb 15, 2010 IP
  8. Suvrajit

    Suvrajit Peon

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    #4628
    Well it does, and i dont think RBI is falling short of commitments to any of the citizens of the country. If it is about "not so tech savy" yes it is not as of now, but things need tme to change and we got independence only before 60 yrs. US ages ahead of us.

    But look at the pace, we are already counted amongst the top 3 economies of the world.

    Only few of us who loves sitting down and complaining about the system are the ones who are suffering. Do we have the guts to file a law suite against paypal for breach of contract? None of us will come forward because we are so used to slavery and praising others and depriving our own system off honor.

    Let me tell u filing lawsuit in a systamatc way will not cost us much and we will atleast get justice.
     
    Suvrajit, Feb 15, 2010 IP
  9. WebStreetSmart

    WebStreetSmart Peon

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    #4629
    One of my friend got a call from paypal.... but he is a heavy PP user.. does more than 150000 USD / year... are you also a high volume user of PP?
     
    Last edited: Feb 15, 2010
    WebStreetSmart, Feb 15, 2010 IP
  10. Azkaban

    Azkaban Peon

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    #4630
    That's some news. They are compensating for the problem by allowing us to do a check withdrawal without charging any fee for it..
    At least, it shows that they are concerned about the Indian sellers. :)
     
    Azkaban, Feb 15, 2010 IP
  11. WebStreetSmart

    WebStreetSmart Peon

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    #4631
    Can some one explain that paypal is trying tell us with the following detail in their blog?

    "We were hoping that our merchant customers would be able to start withdrawing their funds at their local bank by today, but it looks like this will still take some more time. "
     
    WebStreetSmart, Feb 15, 2010 IP
  12. anupam_luv

    anupam_luv Peon

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    #4632
    @WebStreetSmart sir would u plz tell us wht they said in the call... (we r more interested in it)...
     
    anupam_luv, Feb 15, 2010 IP
  13. WebStreetSmart

    WebStreetSmart Peon

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    #4633
    I didnt get a call.. another user in DP got a call from PP. even i am curious..
     
    WebStreetSmart, Feb 15, 2010 IP
  14. mukhtarsaad

    mukhtarsaad Member

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    #4634
    Its RBI or Its Paypal

    both are in this world because of us and not we are in the world because of them..

    people working in rbi or paypal get salary from our money so their responsibilty is to take care of us -i think paypal is with us god knows about rbi

    some one ask -what is rbi..
    Rupees Behind India
     
    mukhtarsaad, Feb 15, 2010 IP
  15. Suvrajit

    Suvrajit Peon

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    #4635
    Well Guys, I ust called up paypal and requested them to send the check via courier and not thru regular post. After several back and forths, they agreed to it saying that they will send th check via courier but will not refund $5
     
    Suvrajit, Feb 15, 2010 IP
  16. jhonbarkan

    jhonbarkan Well-Known Member

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    #4636
    does they issue check in USD or INR :confused:

    If they issue in USD than it take too much time to clear that i heard that USD check take about 20-25 working day's :(
     
    jhonbarkan, Feb 15, 2010 IP
  17. jimkarter

    jimkarter Notable Member

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    #4637
    Yes. Thats surely a good news from them.

    They are simply saying that "withdrawal problem is not yet fixed and may take some more time."
     
    jimkarter, Feb 15, 2010 IP
  18. Suvrajit

    Suvrajit Peon

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    #4638

    No dude max 5 days
     
    Suvrajit, Feb 15, 2010 IP
  19. olddocks

    olddocks Notable Member

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    #4639
    The limit is USD 2500 PER MONTH.
     
    olddocks, Feb 15, 2010 IP
  20. Nick_Mayhem

    Nick_Mayhem Notable Member

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    #4640
    It is great news.

    Money isn't stuck. :)

    You can withdraw checks [Its official now] :D

    And there is nothing much to worry about checks as checks were the only option just 1 or 2 years ago. ;)
     
    Nick_Mayhem, Feb 15, 2010 IP
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