New India RBI Regulation - Paypal money auto withdrawn!

Due to this new indian regulation, all indian paypal accounts are set to automatic withdrawal as of yesterday. Many users also received notification email. The 7 day withdrawal time no longer applies and now it has been changed to autowithdrawal daily.



https://www.paypal-apac.com/india/

 

Withdraw daily ? What is the min withdrawal amount ? Anyone know ?

If there is no withdrawal fee , then i dont care much.

 

Yes, No minimum amount, whatever you earned on previous day will be auto withdrawn. Thats what paypal says!

 

YES there is no Withdraw fee if the amount was auto withdraw.

 

Sure, there is no fee? That would be perfect. The thing bites only if there is a fee. Else, I don't mind - we Indians cannot pay from Paypal balance anyway so as long as the INR 7000 thing does not apply I don't care at all. If the fees are applied I care the whole world though.

 

There is no withdrawal fee even though if you withdraw less than Rs.6,999 . But minimum withdrawal is $10.

 

What can be more worst?? I think this is the time when other payment processors should take advantage of!

 

It is good that it is no withdrawal fee.....anyway Paypal keeps changing the rules lately don't really know where they want to go with this.

 

what happen if I have $8 in my paypal account?

Will it auto withdraw or it will wait for my balance to reach more than $10 ?

 

I am uncomfortable auto withdrawing to my savings account daily. I want to keep some balance to cover refunds and chargebacks.
Seems to me no option left for Indians. I really feel that paypal and rbi are forcing indians to comply with rules which is not fair. One day we have to start a movement like Anna hazare to ease the regulations.

 

Exactly the same problem. Now due to chargebacks, several times the bank withdrawal will get reversed and pp conversion rates will result in loss everytime...suxx

 

They will set minimum auto withdrawal rate as $10. So, if your balance is less than $10 it will stay in your account i think.

 

We can check this tomorrow what happens for account less that $10 and more than $10.

 

But till now, auto withdrawal option is not active in my account. My money is in my account for more than a day.

 

what do you say now?

 

I got automatic withdraw option activated automatically since last 2 days... Yesterday it withdraw $2 to my bank account.. Lol.

 

You might be kidding! Mere 2$ ????????

 

Log in to your paypal, add another account and set it to primary. It will disable auto withdrawal.

 

do any one knows when it available it for Bangladesh ?