Paypal Withdrawals to India
Mar.01, 2010 in
payment systems
Paypal have worked together with the RBI to resolve the issue of local bank withdrawals to India. Paypal has announced that withdrawals shall return to normal on March 3rd. Paypal’s withdrawal affected a lot of Indian freelancers and has made the last few weeks very difficult. however, it appears that it has been resolved.
Moving forward Paypal has confirmed that you will be able to continue to enjoy the reliability of Paypal that you have experienced all of these years.
For more information see the Paypal Blog at http://thepaypalblog.com
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April 9th, 2010 at 10:36 am
Important Information for Indian Sellers (09-Apr-2010)
In compliance with Indian regulations, if you are selling products and services to customers globally, please review the following important information:
• Any proceeds or earnings received into your PayPal account from the export of goods and services should be withdrawn to your bank account within 30 days.
• While making the withdrawal please make sure you select the purpose code that best fits your business.
• Any proceeds or earnings received into your PayPal account from the export of goods and services may only be withdrawn to your bank account in India. This received amount cannot be reused for making purchases.
• If you would like to make purchases on any website that accepts PayPal, you can continue to use any credit card issued by a bank in India.