(HELP) Indian user withdraw problem is solved or not ??

arjunlion Well-Known Member

Messages:: 186

Likes Received:: 0

Best Answers:: 0

Trophy Points:: 101

#1

Hello Everyone..

I'm an Indian user using PAYPAL account.. Now I'm going to withdraw my

cash from PAYPAL to my State bank of India (SBI) account..

This is my first time.. I'm going to withdraw my cash from PAYPAL ..!

Since February first week there was a problem in PAYPAL

So, Is there any problem of withdrawing now ??

I'll be waiting for your replies.

Regards,
Lion

arjunlion, Feb 23, 2010 IP

olddocks Notable Member

Messages:: 3,275

Likes Received:: 165

Best Answers:: 0

Trophy Points:: 215

#2

nope everybody is waiting for the good news. Looks like it will be solved next month.

This is the latest news i got, from Feb 17

The Reserve Bank of India has asserted that PayPalâ€™s offering of payment services to customers outside of India to send personal, non-commercial payments to recipients in India requires a license from the Reserve Bank. The Reserve Bank has directed the Indian affiliate of PayPalâ€™s processing bank to suspend all withdrawals to the Indian bank accounts of PayPal customers for both personal and business customers. PayPal has suspended personal non-commercial payments to Indian accounts, and intends to apply for a license from the Reserve Bank of India, but PayPal could be subject to fines from the Reserve Bank for the period of operation without a license, and PayPalâ€™s prospects for future business in India, both cross-border and domestic, could be materially and adversely affected.

Even if PayPal is not currently required to be licensed in some jurisdictions, future localization or targeted marketing of PayPalâ€™s service in those countries, or expansion of the financial products offered by PayPal to new jurisdictions (either alone, through a commercial alliance or through an acquisition), could subject PayPal to additional licensure requirements, laws and regulations and increased regulatory scrutiny, any of which may harm PayPalâ€™s business. These factors could impose substantial costs and involve considerable delay to the provision or development of its products. Delay or failure to receive such a license or regulatory approval could require PayPal to change its business practices or features in ways that would adversely affect PayPalâ€™s international expansion plans, and could require PayPal to suspend providing products and services to customers in one or more countries.
Click to expand...

olddocks, Feb 23, 2010 IP

oohaah Active Member

Messages:: 170

Likes Received:: 0

Best Answers:: 0

Trophy Points:: 53

#3

olddocks said: ↑

nope everybody is waiting for the good news. Looks like it will be solved next month.

This is the latest news i got, from Feb 17
Click to expand...

from where you got this message buddy

oohaah, Feb 23, 2010 IP

Log in or Sign up

(HELP) Indian user withdraw problem is solved or not ??

arjunlion Well-Known Member

olddocks Notable Member

oohaah Active Member

Useful Searches