paypal india: withdrawals to local bank accounts resume
News & UpdatesThis news comes as a great relief to the paypal users, particular belonging to the Indian subcontinent. Recently Paypal had suspended all its services to withdrawal money directly to the local bank accounts of the users. This was due to some legal conflict between Paypal and Reserve Bank of India.
This suspension caused huge panic and chaos between Indian paypal users as Indians are into providing maximum services online to the western merchants. Due to this suspension, other services like Xoom came into action in providing easy service to withdraw money to India.
However, today paypal announced that its problem with RBI has resolved and that it will resume services for withdrawal to local banks in India. However, an additional field of information needs to be filled in before withdrawing the money.
Read the announcement by Paypal here: https://www.thepaypalblog.com/2010/02/resuming-local-bank-withdrawals-to-india/
Short URL: http://startwebsite.org/?p=352
Great news. Seriously, i was in huge pain due to suspension of paypal service in india. Great work paypal.
This news come as a morning surprise for me…I thought it started from today but after reading Blog post on paypal blog, realize they are expecting it to start from 3rd .. Lets wait and watch
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.