PayPal temporarily suspends electronic withdrawal in India, only cheque/check

You have to wait atleast 45 days before you have to request cancelling check from paypal. You have to call them to do that. They will refund the money.

 

I have withdrawn all my money from paypal as the mail indicates that this action will be effective June 29th onwards. Also, I have decided to give paypal a big hug and say Bye! Take Care... I am not going to use their services in future. Bank transfer is OK for me.

 

We should expect to get cash after 2 months of withdrawal.

Because:

1 Month for cheque coming in post and 1 month for cash out as it will be US currency.

 

Yep, the best thing would be to leave them. I have also leaved them. Now, I am using Moneybookers which is way lot better.

 

No chance, it wouldn't deducted from your account, its simply works as our bank transactions, after credit of that particular sum of amount then only it going to diduct from paypal account.
is simple works as credit---debit rule into balance sheet.

so without reflecting the amount into your bank Pay Pal is not going to minus your amount.

 

i would say just Good Luck to you. as today is the only day for their given dead line.

 

I don't think so.

It may be Like Adsense checkes converted in INR.

 

Darn paypal!
They did a patch up that time ...ma be they were feeling the heat from customers.
Why did they say it has been succesfully resolved?
Damn i think i gonna dump paypal.

Options are
1) payoneer card (freelance sites +high transaction costs +initial wait)
2) Alertpay (Credit card +bankwire +cheque withdrawal; less known; bankwires are not of any use, costly and late)
w ww. alertpay.com/en/Fees.aspx
3) 2checkout (EFT? is there? i heard? anyone has got proof? +bank wire+ initial payment of 49$ +minimum limit)
w ww. 2checkout.com/community/how

Regarding 3rd option i am planning to roll in 2 guys from here to make a joint account where we can tell customers of ours to pay. With this withdrawal limits will not be much hindrance and we can locally transfer money to each other through NEFT. QUICK!
What say? Those serious guys who are really interested and ready to share account opening costs also, let me know via pm.

Yes i did a transfer on 24th evening indian time and got it into my HDFC accounton 27th evening i.e yesterday.
But aint gonna do anything now. Guys will be lucky if transactions done now can go through! I fear they wont!

 

Are the cheques sent in INR or USD?

 

No, they come in USD I think.

 

The Major Problem with cheques is 2500 USD limit per month.How SME can survive?

 

It is also a problem but not something that can be called a major one. The major problem is arrival of Cheques. I am sure it would take too long to get a cheque. :x

 

I will share you my experience, during May 2010, when there was big problem with paypal, not allowing people to withdraw money and making there accounts limited,
I waited for the time everything gets resolved, once it got resolved my pp got limited and then paypal said that i can't use their service again but i can withdraw my funds by cheque.
My cheque arrived in around 15-18 days and it got cashed within 5 days or so.
So it is not that difficult using cheque withdrawl, just it is matter of time and we will have to wait for the payments to come in our bank account.
But cheque withdrawls do work effectively.

--
Best Regards,
nnsjw702

 

yeah same with me..its goodbye to paypal and i guess bank wire will work for freelancers like me ....even though its costs more but atleast it cant be stopped by rbi

 

will it also effect payment withdrawals to US Bank accounts?

 

would someone experienced with 2co here? Please tell me whether I need to verify account and how? how many days it takes to open an account and make it active? how do you get money from 2co to Indian bank account, withdrawl charges etc.

 

Issues with Indian bank accounts so there should not be any US bank issues.

 

I really wonder how efficient the systems of government become... when it comes to framing policies and rules for harassing the 'aam aadmi' but when it is time to do something constructive, it takes them ages!

Regards,

RightMan

 

A Serious Question please answer :

After the feb issue resolved along with me many of you would have received this email i received it on 8th april 2010 it is as bellow :

Now this email says that any fund received for service sell has to be withdrawn to bank account in 30 days ...
but now withdraw to bank will not be available and i am not sure and safe to use the paypal check system so that means if paypal do not gets normal till next month than the 30 days limit will be over so what will happen after that ??? PLEASE HELP

and is there any solution to this ????

 

No! They come in INR conversion and takes around 15-18 days to reach and then bank clearance takes 3 days.
Don't know about small cities but in metros like Mumbai, Delhi, Bangalore (I stay in mumbai and it took 15 days and got cleared in 3 days) it takes 15-18 days to reach.
And it will be a Citibank cheque.