PayPal Resumes Bank Withdrawl In a Few Days By March 3.

Will xoom work in this case?

I mean if you dont have export code then you can easily transfer using Xoom.com if they resume withdrawals to bank account.

 

you can IEC code from the office of DGFT. Director General of Foreign Trades. Complete the documents and get it in one day. Procedure is simple. But CAs and other agents make it tough and costlier. You should all apply it direct.

 

Hi,
Today hour back got this email

PayPal

Dear xxxxx,

We have been diligently working with the RBI and our business
partners to resume Indian bank withdrawals for the thousands
of Indian businesses who depend on PayPal to sell their goods
or services in the global marketplace.

Today, we are happy to announce that the RBI has allowed us
to continue local bank withdrawals for settlements for exports
of goods and services. We are currently making changes to
comply with Indian regulations for settlements for exports of
goods and services, and we anticipate that, as of Wednesday,
March 3rd, customers will be able to use our
bank withdrawal service.

As part of the changes, you will be required to fill out a
new field entitled 'Export Code' when you request a withdrawal.
This information is required under the current laws of India in
order to identify the nature of cross-border merchant transactions.

On Monday, March 1st, we will be back in touch with specific
instructions on how you can move your money into your bank account.

Moving forward, the RBI has told us that PayPal needs specific
approvals to allow personal remittances to India, which we
currently do not have. Until we get these approvals, personal
payments into India will remain suspended. However, if you are
an exporter, you will continue to be able to use the PayPal
service for payments of goods and services. In fact, with the
changes we are making to our system, PayPal is now set to be a
more powerful engine for exporters in India. With purpose codes
for export transactions and FIRCs (Foreign Inward Remittance
Certificates), you should now be able to get the export
related benefits you seek.

You can check the PayPal blog for additional updates.

www.thepaypalblog.com

We thank you for your business and for your patience during
the past few weeks.

Sincerely,

PayPal



Thank you paypal

 

waw.. thats really good news for us indians... thanku for notifyin..!!

 

I too got the same email from paypal..
But there is problem I think, they need something called export code

 

now we can withdrawa money in our bank ac.

here what they say on their blog
https://www.thepaypalblog.com/2010/02/resuming-local-bank-withdrawals-to-india/

 

hai pal you can join this thread http://forums.digitalpoint.com/showthread.php?t=1712755

 

you should be celebrating for this , you are sad for export code. paypal said that they will send other email with information related to export code..wait for it and i will post it here after receiving

 

Whoooooooooooooooooooaaaaaaaaaaaaaa......................... that's great. Thank GOD.

Yep, there are many more things we need to include over there like export code and FIRC etc etc...
Also I think they will increase their fees so that's sad too.

But, finally we can get our money back.

 

Hi all,

Now we can withdraw our amount to local bank from Wednesday 3rd march 2010 (According to paypal.

But i am confused a bit because paypal is looking for export code now.

To know more check https://www.thepaypalblog.com/2010/02/resuming-local-bank-withdrawals-to-india/

Can i know what is export code ?

I think for this all one have to register a firm or company under RBI to get export code or its any other thing ?

Thanks
RS Seo Solution

 

What about check option of Paypal?

 

wooooooooooooooooooooooooooowwwwwwwwwwwwwwwwwww g8t new ...!

I am really happy.

 

wow!this is good news for indians....what is export code..?

 

Absolutely correct. I got mine in 2005, directly by going to the DGFT office. It took 48 hours. A demand draft of Rs. 1000 in favor of DGFT is required.

No need to contact agents or touts.

 

me too got the mail......yuppy....

 

Well Its good to hear and what a response...The news has been been revealed yesterday and there were 125 replys with around 1000 views..within 24 hrs...Every one is eager for it..

 

Yes, It is good news and I guess even xoom will start it soon

 

Yea that's right.even I got this mail from PayPal confirming that everything is fine now and from 1sr march we can start withdrawing funds to our accounts safely.

Congrats to all who faced issues due to this, its party time now..

 

Export code ? How can we get that ?

 

damn
now Export code

need to apply again 1000 damn lol

hope i get exact procedure