Paypal india.

@hish101 (103)
India
April 25, 2011 11:35am CST
Hi, i want to know about paypal's new policy for indians regarding withdrawal of money to the bank acc. What do they mean by max $500? Pls explain. Thanks.
2 responses
oindy54
@oindy54 (3445)
• India
26 Apr 11
Hi, I means that you cannot withdraw more than $500 to your Indian bank account from your Paypal account every month.But if you verify your Paypal account by completing their verification process then the limits are lifted from your account.
hish101
@hish101 (103)
• India
26 Apr 11
So, this means that if i have $1000 in my paypal account i can withdraw it? Should it be done in two transaction of $500 each? And can i do this on the same day itself? Btw, my account is verified.
oindy54
@oindy54 (3445)
• India
26 Apr 11
One can withdraw maximum $500 monthly as an unverified member but since you are verified there is no monthly limit on your withdrawals.
zralte
@zralte (4178)
• India
26 Apr 11
I don't think that is correct. My understanding is that you cannot receive more than $500 per transaction. Withdrawing to the bank should not be a problem as long as it does not exceed your monthly limit. I have a verified Premier account, so my monthly withdrawal limit is $2500. I can withdraw $2500 at one time or multiple times in smaller amount. The $500 limit is for receiving, like life has explained above.
SpikeTheLobster
@SpikeTheLobster (6403)
•
25 Apr 11
At a guess it means that there's a limit of $500 on withdrawals from your PayPal balance to an Indian bank account. I would imagine that's $500 every so-many-months, rather than an absolute limit.