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PayPal balance was auto withdrawn

Discussion in 'PayPal' started by karthimx, Sep 12, 2011.

  1. #1
    I think Auto withdrawn is implemented officialy. I have my paypal balance for almost 20 days and today I got an email from paypal says

    Dear Karthikeyan S,

    Your PayPal balance was automatically transferred to your XXXX Bank in India, x-xxxx on Sep 12, 2011.
    SEMrush
    Your balance is automatically withdrawn daily.

    Yours sincerely,
    PayPal
     
    karthimx, Sep 12, 2011 IP
    SEMrush
  2. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #2
    Yes as now onwards all indian paypal accounts covered into this (auto withdrawal option) by default.

    DON.
     
    deluxdon, Sep 12, 2011 IP
  3. itismine

    itismine Active Member

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    #3
    I also got that email and the conversion rate is very good 45.42 rupees per dollar!!
     
    itismine, Sep 12, 2011 IP
  4. TonyMarket

    TonyMarket Active Member

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    #4
    They changed their policy to auto withdrawal but, Yes because rate goes up which you can check at www.xe.com - $1- 47. So paypal always take their fees.
     
    TonyMarket, Sep 12, 2011 IP
  5. williamjack

    williamjack Notable Member

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    #5
    Yes my 2 accounts balance is already auto withdrawn. I think rest accounts will be soon.
     
    williamjack, Sep 12, 2011 IP
  6. dimitri123

    dimitri123 Well-Known Member

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    #6
    Why would they withdraw daily? I thought you can keep the money for 7 days..
     
    dimitri123, Sep 12, 2011 IP
  7. niceboy

    niceboy Well-Known Member

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    #7
    Earlier, they informed that auto withdrawals will be weekly. But, now it is implemented daily! Don't know how it is happend!
     
    niceboy, Sep 12, 2011 IP
  8. hanidesigns

    hanidesigns Well-Known Member

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    #8
    yes guys..same happened to me..and the guys send that payment to my old bank account where i have no cc attached?so u guys think that payment will be reversed to my account?
     
    hanidesigns, Sep 12, 2011 IP
  9. dilon

    dilon Well-Known Member

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    #9
    A new policy updated by pay pal in India and that is auto withdrawal system...Your balance is automatically withdrawn on daily...
     
    dilon, Sep 12, 2011 IP
  10. unna

    unna Well-Known Member

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    #10
    we need to worry?
     
    unna, Sep 12, 2011 IP
  11. bloomsden

    bloomsden Well-Known Member

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    #11
    yes there are problems too...when we need to refund the client then we have to use our credit card where we will loose some money in exchange rates....
     
    bloomsden, Sep 12, 2011 IP
  12. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #12
    At least they need to show us how much money auto withdrawn using this new option as we need to login to our paypal account for to see that.

    DON.
     
    deluxdon, Sep 12, 2011 IP
  13. GIF

    GIF Peon

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    #13
    I don't think there will be any big problem.
    You can't use your PP balance already. The problem is only when processing refund to someone. Charges will goto CC.
    As there is no there is no minimum balance fee (Rs. 50/- if less than Rs. 6999/-), so there is no problem with daily withdrawn.
    But your bank statement will become too lengthy in that case, that's it!
     
    GIF, Sep 12, 2011 IP
  14. olddocks

    olddocks Notable Member

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    #14
    I logged i and set another bank account primary and soon auto withdrawal was removed. Lets see. I prefer to keep money for 7 days atleast. Looks like paypal have already implemented the 7 day withdrawal.
     
    olddocks, Sep 12, 2011 IP
  15. expertofexperts

    expertofexperts Active Member

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    #15
    Are you people sure that PP won't cut down that Rs.50 even our balance is less than Rs.7k ?? Is this confirmed news?
     
    expertofexperts, Sep 12, 2011 IP
  16. simplyjo

    simplyjo Well-Known Member

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    #16
    As per their terms they wont - and how can they when its a rule implemented by them ? They cant expect us to have min amt in our accounts daily for withdrawal :)
    The only draw back is we cant withdraw after checking conversion rates - so if rate drops, we lose money .


     
    simplyjo, Sep 13, 2011 IP
  17. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #17
    Yes that news is confirmed. Check withdrawal page in your paypal account for more clarification if you have any more doubt.

    DON.
     
    deluxdon, Sep 13, 2011 IP
  18. expertofexperts

    expertofexperts Active Member

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    #18
    Ok, this is good to hear that at least they aren't taking away useless fee for withdrawing..

    Yes, this is not fair enough that we can't wait for good conversion rates
     
    expertofexperts, Sep 13, 2011 IP
  19. johnmacellen

    johnmacellen Member

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    #19
    yes paypal wont cut 50 rupees fee per withdraw..
     
    johnmacellen, Sep 13, 2011 IP
  20. TheSyndicate

    TheSyndicate Prominent Member

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    #20
    WOW you can think off all countries doing that to Pay Pal what amount of money they will loose.
     
    TheSyndicate, Sep 13, 2011 IP