Change in Withdrawal of Funds-- PayPal Accounts for India Users from JULY 29th.

thanks for all the information. ... i am obliged to all for their efforts in doing the research.

Do you know how long it will take for us to receive money with check? including all the process of requesting, receiving check, deposting in bank and getting money?

hi vandana, yeah true....

What about cheques being redeemed into bank account and then used for the same purpose?

Life, that is for kids like you to find out and let us know. :) Previously, paypal charged 5 dollars for every cheque. But I doubt if it will continue with that!

Jotomy, it is not a big problem dear friend. Paypal is going all our to help us by waving charges. Net effect is the same. The only difference is you will be depositing the cheque in the bank.

Paypal doesnt like Indians!!! No seriously - recently they found that some monies are being sent into India through online processors such as Paypal. Small small amounts, not large sums, into many accounts out here. This is a matter of concern because that money goes to fund terrorist activities within the country and simultaneously harming the economy. The money comes in dollars, so online processors are being brought under regulation. How does it hurt our economy when we earn in dollars? Well, when there are more dollars available, and less demand for it, then the value of rupee goes up. In process, our exports become more expensive and consequently what we want to export doesnt come cheap. This in turn reduces our export orders, and kicks us hard because we have to pay for petrol that we have to import. Without enough dollars in our hand because of shortage of exports, we have little choice but to depend upon others earning in dollars. And the vicious cycle repeats.

hardly we get after so much of strain.... this is somewhat discouragement to the people who work online....

you will be surprised to know, that .. even in this day of such electronic advancement, and INDIANS being the people who are reached first for outsourcing, and all the software engineers mostly from INDIA.. our ELECTRONIC FUND TRANSFER .. is in a mess. I have a friend, who got about 3 lakhs, blocked in different transactions.. he is an importer, and so, sends money to his suppliers through this electronic fund transfer .. and, it is always a problem ... INDIAN government is trying to sub-vent these issues.

India needs to look at the whole picture where crores are being electronically transferred and when one looks at that scenario what India is doing is in the interest of its citizens and this needs to be recognised.

All knowing, I agree with you! While it may seem damaging for small earnings like mine, those who are sending large amounts get monitored. In the long run, it would help me, as it would control inflation.

Please do some SEARCH, using the appropriate tags, .. before you start the discussion. mostly, there might already be a discussion by now! ... =--------------- i wish you all the best. always.

melmabb... i wish you all the best in your endeavors to make money online. just to bring you into our group of ONLINE EARNERS... with some money to speak of, in paypal.

thanks to you both. and, if you might allow me to say this, DEEPAK.. don't use all caps.. it will be deleted.

Yeah deepak, capital means shouting!

It is not as cool as you think. I think you haven't really used both the ways. First thing, we have to enter our bank account number twice when adding it. So there is less chances of errors. Second thing, now it would take about a month to receive our money by cheque which usually took about 2 to 3 days using electronic transfer. And don't forget that in electronic transfer there is no work to be done at our end. It was all automatic and fluent. Now we will have to take the cheque to our bank branch, fill out the form and then have to wait for our turn(if you have an account in a crowded bank) for submitting it. Does the benefit you mentioned is worth the efforts and time which will be wasted now? Do you still find it better than electronic transfer?

that is another thing to be worried about.. the courier, and postal system.. and, I don't know, if my banker will be able to MAKE the arrangements to encash the dollar cheques. but, I HEARD ... from someone, that they use INDIAN RUPEE cheques of CITIBANK, which could be en-cashed on par.. at most indian cities and towns.. let us expect that all runs smoothly for small timers like us.

harpreet.. you can do the purchases. .. i have used paypal for doing a lot of things online, which I don't feel comfortable to discuss in open discussions. lols. got the idea? ..

well, the sids.. first, .. WELCOME TO MYLOT.. AND, then, .. i don't think, it is their fancy too.. to change rules.. ... they are just not able to fix the leaks.. so, they abandon ship.. dirty politics. that is all.

Thanks for the welcome message consultrainer. Yes, it is sad that politics in India these days has nothing much for common people

de toya, .. the rules are changing faster than the wave-pattern of seas! ... let us hope for the best! ... from the governments, and from paypal authorities.

it is not with paypal, that we are into trouble.. friend, sagar.. but, again, .... let us wait for the proper reaction .. and, see if there are some smooth operations involved. ... thanks..

WELL. that is another sad part of the story.. we are not so famous .. INDIAN POST .. it is one of the infamous. you can read the most saddest stories, about how the future of students, prospective buyers, marriages, employement, .. all such GOT RUINED by the delay in delivery, or lost in transit stories of the postal department. i hope, the kind PAYPAL authorities use some good, fast and reliable courier service to send our cheques.

welcome to mylot .. PRUDENT. i expect the government and paypal authorities will soon revert back to the easiest option of bank-electronic transfer.and, prove their prudence. thanks for the response, wish you best.

I am also thinking like this. Because, e-transfer is the most convenient transaction process in this busy life.

hemsagar, .. WELCOME to mylot. but, even before you could make a start off, . ... making your first ever payout from mylot, ... this paypal thingie was thrust upon you.. i am sad,. ... just how many new users find this annoying. ... however, PLEASE be BOLD.. and, work wonderful .. you will all make it big. what if it is a cheque, .. and as you rightly PRAISED paypal, .. we might even end up with more money, .. due to this STRIFE.

so, waiting to cross the bridge, when you reach it... is that so? vandana? ... i wish all the very best, for your navigating skills.. ... please allow us to ride along... piggy-back.

I am not too sure Indian banks would charge too much as of now. So it is not a catch 22 situation as yet. :)

yes. PREVIOUSLY it was a new rule, where we had to give our personal account number, issued by the government INCOME TAX department... and, now, it is this. who would be earning about 500 dollars a month through paypal? .. it comes out to a meager 20000 rupees, or just above that. ... and, they are crying hoarse on that. i am sad.

I do not think, they will have a minimum eligibility, and we may be able to request a cheque even for $10 or $20.The only problem will be the charges levied by the Indian banks, and in some cases, these charges will be more than the amount which we have got..

hope so sreekala....

The minimum amount you should accumulate in you PayPal account to request a cheque is $150.

well. thanks for the support. if only the governments and authorities were a bit more human, and try working out the modalities of controlling the errors and terrors faster.. we all will live in peace. thanks yresh.

that is wonderful to learn ... you are lucky to have no regulations.

thanks jotomy