Paypal
Paypal Resuming local bank withdrawals to India
Today i got a mail from Paypal that they resuming local bank withdrawals to India
” Dear ,
We have been diligently working with the RBI and our business partners to resume Indian bank withdrawals for the thousands of Indian businesses who depend on PayPal to sell their goods or services in the global marketplace.
Today, we are happy to announce that the RBI has allowed us to continue local bank withdrawals for settlements for exports of goods and services. We are currently making changes to comply with Indian regulations for settlements for exports of goods and services, and we anticipate that, as of Wednesday, March 3rd, customers will be able to use our bank withdrawal service.
As part of the changes, you will be required to fill out a new field entitled ‘Export Code’ when you request a withdrawal. This information is required under the current laws of India in order to identify the nature of cross-border merchant transactions.
On Monday, March 1st, we will be back in touch with specific instructions on how you can move your money into your bank account.
Moving forward, the RBI has told us that PayPal needs specific approvals to allow personal remittances to India, which we currently do not have. Until we get these approvals, personal payments into India will remain suspended. However, if you are an exporter, you will continue to be able to use the PayPal service for payments of goods and services. In fact, with the changes we are making to our system, PayPal is now set to be a more powerful engine for exporters in India. With purpose codes for export transactions and FIRCs (Foreign Inward Remittance Certificates), you should now be able to get the export related benefits you seek.
You can check the PayPal blog for additional updates.
www.thepaypalblog.com
We thank you for your business and for your patience during
the past few weeks.
Sincerely,
PayPal ”
Its a Good News for Indial Bloggers. Thanks Paypal.
Read the story on Paypal Blog : Resuming local bank withdrawals to India
Suraj @Smartfatbl...
Chuck Jones
this is really good news for Indian paypal user but still his post is not so clear so he said that he is making one more post to clear doubt
aypal =-.
.-= MostlyBlog´s last blog ..Resuming local bank Withdrawals to India
Really a bad news for those who loves paypal. Anyway thanks for this alert.
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
.-= Harsh Agrawal´s last blog ..8 Very Useful Facebook Apps For Bloggers =-.
ohh..That’s a great news…I must say..they thought it twice..!
.-= Shubham´s last blog ..8 Best Helpful Online Code Editors =-.
great news…..
thanks…anish:)
anways your old theme is much better than this one…
.-= Dev | Technshare´s last blog ..12 ways to promote your blog offline =-.
@ That old Themes Loading Time is High and My Bounce rate is also high.
.-= Anish K.S´s last blog ..Paypal Resuming local bank withdrawals to India =-.
well..this is a good news for us Indian publishers
http://twitter.com/anishniranam/status/9783345384
.-= Anish K.S´s last blog ..Paypal Resuming local bank withdrawals to India =-.
I am happy for this. Was facing a lot of problems because the Bank transfers were blocked!
.-= Rohit Sane´s last blog ..10 Tools to Decrypt MD5 Hashes online =-.
Its really a good news.I am awaiting for March 3 when the services will be activated.
.-= Blogging Tips´s last blog ..How to increase Search Traffic =-.
Yeah Its a good move for everyone. Atleast people will get their money.
Yeah, I just happened to inform the same thing on my blog as well!
Its nice to hear that paypal resume withdraws in India..
.-= Rajesh´s last blog ..Sholay – Download Sholay Movie for free =-.
Great! i hope they’ll enable these services in Sri Lanka too
.-= Pubudu Kodikara´s last blog ..2010 February : Monthly Report =-.
Nice news friend… PayPal rocks
This is really cool.. I have posted abt this..
.-= Rajesh Kanuri @ TechCats´s last blog ..TechCats Welcomes Guest Bloggers =-.
received the mail too. As today is 3rd March, has anybody tried it yet?
In the mean time (during all the issues) I had applied for payment via cheque. And even though Paypal shows the transaction status as “Cheque issued” (on 20th Feb), I’m yet to receive it.
.-= TechChunks´s last blog ..Opera 10.50 Released For Windows, Mac And Linux Version ‘Coming Soon’ =-.
Withdrawals have been working just good on Paypal. But adding PAN card has become a problem for many young bloggers.
.-= NPXP´s last blog ..11 Steps To Succeed in Blogging =-.