Paypal is asking for PAN during withdrawal process.....

Discussion in 'PayPal' started by ft913, May 5, 2011.

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  1. #1
    Hello Friends,
    I have an Indian paypal account. It's asking for PAN card for withdrawal to bank account. Is the same happening with you too? I don't have a PAN card. So I gotta make new one. This will take at least one month. Till then my money will be in my paypal account. Is that a problem? Because there is a rule that you need to withdraw money in between 7 days after receiving it. Is this rule implemented yet or not?

    Thanks,
    FT
     
    ft913, May 5, 2011 IP
  2. deluxdon

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

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    #2
    Yes PAN is mandatory now in paypal at the time of withdrawal to indian bank accounts. I suggest you to apply for one without wasting time.

    DON.
     
    deluxdon, May 5, 2011 IP
  3. ft913

    ft913 Active Member

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    #3
    thanks for the reply, Don. I am going to apply it today. It will take one month for me to have pan card in my hand. What will happen to my balance? I hope "7 days withdrawal rule" won't cause me any problem, will it?
     
    ft913, May 5, 2011 IP
  4. deluxdon

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

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    #4
    As far as my knowledge currently paypal not implemented '7 days withdrawal rule'.

    DON.
     
    deluxdon, May 5, 2011 IP
  5. mrwordsworth

    mrwordsworth Active Member

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    #5
    Yes get the PAN card done ASAP.
    Till then I think your money is safe in paypal. But to be sure just send a mail to paypal customer support and see what they say.
     
    mrwordsworth, May 5, 2011 IP