Withdrawal to India banks from Paypal through XOOM is Working. Confirmed and Tested.

ineed Peon

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#1641

Hi friends,

Now paypal Resume Service for Indian users from March 3rd. But this is for only Business users (Who have export Code). Without Export Code No money will withdraw.

ineed, Feb 26, 2010 IP

ineed Peon

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#1642

Hi friends Now paypal is going to resume his Indian Bank withdrawal service in india for only Business user who have Export Code
See below message from Farhad Irani (Who is Business Lead in Asia)

Hi. It is Farhad Irani again with a progress update. We have been diligently working with the RBI and our business partners to resume Indian bank withdrawals for the thousands of Indian businesses who use PayPal to sell their goods or services in the global marketplace.

Iâ€™m pleased to tell you that the RBI has now allowed us to resume 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, we will be able to resume the bank withdrawal service. As part of the changes, you will be required to fill out a new field entitled â€˜Export Codeâ€™ 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. I will be posting another blog then.

Iâ€™d like to thank the RBI for working with us to get this addressed. We know this is an inconvenience to you and we appreciate your patience.

Moving forward, the RBI has told us that PayPal needs specific approvals to allow personal inward 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.

We know the past few weeks have been difficult and I would like to assure you that we have been working tirelessly to resolve the situation and restore our service. PayPalâ€™s highest priority is to always ensure we comply with all applicable regulations everywhere we do business around the world.

Going forward, you can expect the same reliability from PayPal that you have enjoyed for all these years. I would like to thank you all for sticking with us and assure you of our best services going forward.

Farhad
Click to expand...

ineed, Feb 26, 2010 IP

aries_6484 Active Member

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#1643

ineed said: ↑

Hi friends,

Now paypal Resume Service for Indian users from March 3rd. But this is for only Business users (Who have export Code). Without Export Code No money will withdraw.
Click to expand...

sorry they never mentioned it is only for business users.i guess every paypal user got the email so every one needs a export code to withdraw money to india

aries_6484, Feb 26, 2010 IP

ineed Peon

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#1644

aries_6484 said: ↑

sorry they never mentioned it is only for business users.i guess every paypal user got the email so every one needs a export code to withdraw money to india
Click to expand...

I mean for Business (Export) Transaction See below

Iâ€™m pleased to tell you that the RBI has now allowed us to resume 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, we will be able to resume the bank withdrawal service. As part of the changes, you will be required to fill out a new field entitled â€˜Export Codeâ€™ 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. I will be posting another blog then.
Click to expand...

and Personal Transaction Still Suspended See below

Moving forward, the RBI has told us that PayPal needs specific approvals to allow personal inward 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.
Click to expand...

Hope you will get it

ineed, Feb 26, 2010 IP

olddocks Notable Member

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#1645

"Personal inward remittances to India" - i think he meant incoming personal payments to India NOT bank withdrawals.

olddocks, Feb 27, 2010 IP

Irfi0009 Banned

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#1646

Allthing will be cleared on 1st of March so wait for just more 24 hours

Irfi0009, Feb 27, 2010 IP

ineed Peon

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#1647

buyhighprlinks said: ↑

Allthing will be cleared on 1st of March so wait for just more 24 hours
Click to expand...

Hay Today is 1st march But still no updates from Paypal

ineed, Mar 1, 2010 IP

chandan123 Prominent Member

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#1648

ineed said: ↑

Hay Today is 1st march But still no updates from Paypal
Click to expand...

they are not sure abt the policiies so just keep pushing the problem

chandan123, Mar 1, 2010 IP

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Withdrawal to India banks from Paypal through XOOM is Working. Confirmed and Tested.

ineed Peon

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ineed Peon

olddocks Notable Member

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