About Paypal's new withdrawal policies in India

Hello durgabala I have also received this message from paypal,because reserve bank of india is very rigid regarding money tranfer, i work in various sites, all now ask for copies of PAN card too, this is good because it will stop illegal money transfer i am happy over this issue.. Thanks for sharing. Welcome always. Cheers. Professor

hey according to me this regulation was good, and it will stop the abuse of paypal and illegal money laundering. I always welcome this kind of regulations from the indian govif yourernment. but you know one fact .. if you are in mylot for entire 24 hours continously, and if it is possible to respond or start discussion or participate and event exactly for a minute means. you can do 1440 messages daily.. which you give 1440 cents which is equal to $14.4. and that will be equal to 648 rs in indian money other wise we take alternatively to earn 1000 rs, we have to acumulate 22.22 dollor (let $1=45rs). for that atleat we have to particiapte in mylot for 2222.222 times. if you take 1 minute to type one response means.. you have to be in mylot continously for 37 hours.

Hi durgabala,I guess because of RBI regulations this action has been taken, basically it is to avoid fraud and black money to be transfered to Indian accounts. Because of this reason only they have also started asking for PAN number for each account. When there was issues in January-10 there were many specutilations made, but it got resolved after some time. So just wait for some time and till that time lets keep on accumulating funds in paypal and later we can do our withdrawl request. They have also waived off $5 fees for Indian users. Lets hope for the best that this issue gets sorted out soon.

I guess paypal are going to reset the electronic transfer soon. as soon as after completion of modifications.

I Also Got mail About that.But I am not sure about there policy as i have never used their services.Moreover they are aski ng for pan card Number , which I dont have yet.Neither do I have earned that much money to withdraw from there.so I cant say much about that. Have A Nice day

it is really very horrible for Indian users and the limit for requesting check withdrawal is also high!!! converting to rs it is equivalent to 7500 (150 x 75) which is a quite big amount.. and it is hard to earn 150$ in a short time!!!

I am very upset with the new policies. I don't know what's wrong with Indian Government. The electronic withdrawal was fast and reliable option for receiving funds from our PayPal account to our bank account. Also the minimum amount required to request electronic transfer was just $10. Now we will not only have to accumulate $150 to request our funds in form of cheque but it will also take about a month to receive them. We will also have to manually go to our bank to redeem the cheque. On the other hand the electronic transfer process usually took about 2 to 3 days to be credited to our bank account. I hope the electronic funds transfer process is restored soon.

I heard that PayPal has announced a new policy in India due to government regulations. Beginning July 29, 2010, PayPal users in India will only be able to request a check withdrawal of funds and will no longer be able to request an electronic withdrawal. I hope that this information will help you to understand what the e-mail might have been about.