What if I don't withdraw money before March 1?

hey,

Is it necessary to withdraw all the money from the paypal account? What if i keep my current balance in account?

What will happen with my current balance if I don't withdraw by 1 March?.

I also heard that, Indians would not be able to use paypal to buy/sell goods/services. What is the use of having paypal account if we can't use money kept in our account?

I'm really disappointed.

 

You can just withdraw <$500 monthly. Thats all!!! You can do with Paypal.

 

I do not know what will happen to previous balance but i think if there is a transaction done to your account after march 1st and if you do not withdraw within 7 days of transaction it will get reversed i am not sure though.

 

Wrong information

Its $500 / transaction and there is no such monthly limits for verified PayPal accounts

 

Someone here in DP already posted that he got reply from paypal that money will be automatically withdrawn to bank after 7 days.
i can't find the thread. can someone confirm this ?

 

If you dont withdraw paypal with automatically transfer the remaining balance to your bank.

 

But I've not given any bank details for automatically transfer. will they issue cheque and send?

 

i hope you given all correct address info. who knows they simply issue cheque

 

Let us wait till March 7th to know the results.

 

Are paypal is going to transfer money into bank account automatically if we wont withdraw money within a week?

 

depends on you added bank account or not

 

Don't widraw until the paypal transaction is over to be safe.

 

i dont thinks so , you need to send them into the bank account

 

I remember a few months back Paypal ask to confirm the mobile number and Pan number. May be they will ask to confirm or add bank account in these days to make auto withdrawl option.

 

I feel that they will be mandating "Settlement Withdrawals" from March 1st.