Since last few weeks all Indian publishers were facing problems in withdrawing money to their bank accounts after the sudden Paypal issue but now they can sit relaxed as Paypal is expected to resume the local Indian bank withdrawals from March 3rd, 2010.Yesterday I received a mail from Paypal, which states that the cash withdrawal from Paypal to Indian Bank Account will be possible from 3rd march.
As per official Paypal mail :
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.
You can check out the official announcement on Paypal Blog by Farhad Irani.post on its blog on March 1 with specific instructions for customers on how they can move their money into their bank accounts.
It is great news
thanks for sharing.
Yeah it is..But You need purpose code to withdraw funds to your bank acc…for more information read the paypal blog
Anyone got money in Bank after they resumed ??
Yes dude, I withdraw $200 to ma bank account and i got it
hey dud hw can v add funds to paypal through my bank ac help me out……plssssssssss
A new fact about Pay Pal :
I applied for a charity account with Pay pal because its free and supported by vbulletin software for payment subscription, I have all the documents like NGO Registration certificate, Memorandum of Society, Society PAN card, and the Bank details , bank details were verified by the Pay Pal by depositing amount of Rs. 2 and 40 paisa, after submitting all the document as per said in their website and in their emails, they denied me for the account, just because they have no tie-up with India regarding charity account, what the hell is this, why the pay pal people should not mention at the time sign up process. I have wasted around 1000/- rs in doing fax to pay pal and after 4-5 days they denied.
Don’t apply for a charity account with pay pal if you are living in India. Just wastage of time and money.