PayPal Will Resume Bank Withdrawal For Indian Paypal Users From 3rd March
Written by Pradeep Kumar in Technology - Print This Post
Few minutes back, I received a mail from PayPal stating,
“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.”
This is really a good news for Indian PayPal users. Currently you can request money using check option. Indian PayPal users tried Xoom, but for some it didn’t work well.
You can check The PayPal Blog for further details.
That’s really a great news …
Happy earnings….
I have a lot of SEO contacts who’re based in India so I’m glad to hear the news.
Cool. For bloggers its a big relief.
Good news for all the bloggers and PayPal has taken a very good step by announcing this.
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XOOM has stopped accepting Paypal as a medium of payment for Indian Transactions. And, its infact good that now we can directly transfer funds from Paypal to our bank account!
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Hi Pradeep the problem not solve till now as we required to have one IEC code for transfer money to our bank account. On the DP forum there is going one big discussion on it, the thread url is here http://forums.digitalpoint.com/showthread.php?t=1712821
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happy news o Indian bloggers.
.-= Anish K.S’s last blog…Paypal Resuming local bank withdrawals to India =-.
Real big problem with the pp withdraw. I have many friends who can’t do that. hope the issue will be resolved.!
Hey that’s great news
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Congrats to all Indians on this reassurance about the solution of a big problem from a geniune service provider..
Till now Indian paypal users were trying to take out cash using alternative method, and I personally tried Xoom which worked for me and later on even Xoom stopped working. Right now you can request money using check option.
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This is good news but looks like the transaction process has become lot more complicated than it used to be.
Has anyone tried making a transaction (withdrawal to Indian bank) yet?
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Well it has resumed and is working properly. But the users are now made to insert their PAN number. Indian users are being taken into a wild ride for sure by the RBI..
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Just a small doubt. I have got a few bucks in my PayPal account but it’s not a verified account. Should I verify my account to redeem the amount ?
=-.
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Techie, I believe there are two methods for verifying. One by Back Account and another one by Debit/Credit card.
You can try any one of them in order to make yourself a verified user. But, remember, both have different advantages.
You can just add a bank account which is in your name and that should attach it to your Paypal. Withdrawals should take place without any problems.
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Gr8 news, I transfered all my earning to paypal, with their initial decision really disappointed, but it made me to jump onto the cloud….. thnx for sharing
I had many transactions pending because of that !!! its good that it resumed its work soon