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

We have given PAN, Purpose Code and all our verification documents. Now what else is needed?

 

yup! well spotted chandan123. its there at the bottom: https://www.paypal-apac.com/india/

 

Please please tell me a good alternative, TimesOfMoney or BillDesk - too expensive? any idea?

 

God-fucking-dammit.. What the hell is wrong with these incompetent assholes.. I mean they stop stop the payments sitting with their ugly asses on OUR money.. At least give us some details, what exactly is the problem with us withdrawing the money. If the RBI wants to impose a tax on it just take the cut and be done with it!!!

And that other line about not being allowed to send our money outside.. I'm sure I read it earlier somewhere... They won't even allow us to use debits cards for international payments then how the fuck do they expect us to pay others?

 

we can try with alertpay. ( check only option to withdraw but we can save fee in transactions )

 

But almost no client uses AlertPay or for that matter anything BUT PayPal

 

i heard last time that paypal did apply for license and RBI is in no mood to grant them one.

 

we need to convince them to use alertpay as it supports cc payments too it wont be a problem

 

Yes, the Indian Babus !! Any which way they won't care if they are getting 6th pay comission increments while they sit all day doing nothing

 

Here is another update from thepaypalblog.com just came up:
https://www.thepaypalblog.com/2010/07/update-on-paypal-accounts-for-india-users/

Update on PayPal accounts for India users

July 27, 2010

Hi everyone, it’s Dickson Seow, from the Corporate Communications team. I’d like to give you an update on PayPal accounts for our India users.

In accordance with regulatory instructions, there will be a change in our withdrawal functionality in India starting on August 1, 2010. At present, you can request for either an electronic or cheque withdrawal of funds from your PayPal account. From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.

We sincerely apologize in advance for any inconvenience caused from this change and we are working hard to restore the electronic withdrawal service. In the meantime, we are bringing this matter to your attention so that you can plan your future withdrawal activities accordingly.

Our India users can find the cheque withdrawal process here. In order to help you deal with this change and until further notice, we will refund the US$5 cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.

If you have any questions, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us’ at the bottom of the page.

Again, we apologize for any inconvenience caused from this change in our withdrawal functionality. We will provide ongoing updates to you here. We thank you for your attention and patience as we work tirelessly to resolve this situation as quickly as possible.

The question we are all asking - is this just temporary?

 

i dont think so you are right. They are very regular and punctual with 3 times coffe , lunch , late coming and early going

 

Hmmmm. So what's the final solution? Zoom (never tried it..), AlertPay? or Something better?

 

On a positive note, I am happy that we got an email alert about the non-availability of electronic withdrawal after today. I just placed a request to withdraw my entire balance to bank account. Discuss politics here after you request for a withdrawal and before its too late

 

I think xoom also stopped its service!!

 

I already did it immediately after seeing that email!!

 

Yeah, I'm pretty sure we are going to get their familiar "transaction canceled" mail soon.. Let's hope not though..

 

my advice is dont withdraw to your bank now. it will get stuck and may not go through! you have either ask paypal to cancel the withdrawal or wait one month to automatically get back the money. just wait. we will see what happens. God knows when paypal will restore bank withdrawals.

 

I don't think that will be anytime soon. Pls remember that the problem has been on since February (at least). If they couldn't get a solution in these many days then it would be too optimistic to think that this will now happen overnight. I am only grateful that they alerted us (even if that was just one day prior to this happening) instead of just stopping everything without any notice....

 

No olddocks, email from PayPal clearly states that you have time only till 28th July to request for electronic withdrawals. My guess is that, those withdrawals will reach RBI before 1st of August and those made on or after 29th July will not be able to make it to RBI server before 1st August. But, I might be wrong

I am sure PayPal will be prepared to handle the huge number of withdrawal requests that they will be hit with, today.

 

Good thinking. Makes perfect sense.