How can i withdraw my money to Indian local bank? Paypal have said that we can withdraw through cheque but while withdraw through cheque there is a note that, Cheque to non us bank cannot be cashed, Then how we can transfer through cheque? Did any one transfer through cheque before to Indian Local Baks.
Pay Pal is currently having some issue and they are trying to sort out this issue. If you remember RBI had set some strict rules and pay pal is now slowly setting up with all this and making the transactions transparent. This is a temporary issue but it may take from few days to week/s. Just do not worry your money is safe 100%. We have done tons of transactions to India via check and there have been no issue. However online bank transfer is more safe and faster but that is also stopped for some time, I hope you received the mail from Pay pal. Have patience and do not worry your money is safe, wait for the update by paypal and then try again.
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"
The $ 5 fee is temporarily waived for Indian Paypal users... till further notice! From Paypal's own email: Regards, RightMan