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Change in Withdrawal of Funds from PayPal Accounts for India Users

28 July 2010 4 Comments

In accordance with regulatory instructions, PayPal is about to change their  withdrawal functionality in India starting on August 1, 2010. At present you can request for either an electronic or cheque withdrawal of funds from your PayPal account if you are an India user.paypal logo Change in Withdrawal of Funds from PayPal Accounts for India Users?

From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.

In a mail to me they said, “While we are working hard to restore the electronic withdrawal service, in the meantime, we are bringing this matter to your attention so that you can plan your future withdrawal activities accordingly.”

To request for a cheque withdrawal:

  1. Log into your PayPal account, click on ‘Withdraw’.
  2. Click on the ‘Request a cheque from PayPal’ link.
  3. Enter the withdrawal amount and select your mailing address, then click ‘Continue’.
  4. Click ‘Submit’ to confirm your request.

In order to help you with this change and until further notice, Paypal will refund the $5 USD cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.

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4 Comments »

  • Sonia said:

    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 again asked me for a authorization letter from our Society members on the letter head of the Society, I submitted it as per they said, but after completing all the formalities 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. Now I have no other option left, so I signed with ccavenue, but the cost of basic signup is around 8500/- and the per annum fee is Rs 1500/- after tax, I think PayPal is playing with Indian customers, We wrote a letter against this to the Reserve Bank of India, and also file a RTI to know the working of PayPal in India, after searching on the Internet we also found that PAYPAL is run by ebay, and found tons of complaints against ebay http://www.consumercourt.in/online-shopping/ , after collecting data of ebay customers, we called them personally and found a big scam, we are planning to file a Public Interest litigation, against HomeShop 18, IndiaTimes Shopping, Ebay, AVA etc,
    Don’t apply for a charity account with pay pal if you are living in India. Just wastage of time and money.

    # 30 July 2010 at 7:29 am
  • Delilah Galioto said:

    Excellant blog post, you deserve a free iPad: http://ow.ly/2jKqJ

    # 2 August 2010 at 5:16 pm
  • Chauncey Gangl said:

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    # 18 August 2010 at 3:33 am
  • conveyancing said:

    This is a great post. Thanks for sharing this.

    # 27 August 2010 at 2:38 pm

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