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Paypal India Issue Resolved – Electronic Transfer to Continue

July 31, 2010 Piyush Agarwal 2 Comments

The first thing I was greeted with this morning when I opened my mailbox was a short mail from Paypal stating that Electronic Transfer for Indians will continue. What seemed a couple of days back when I had received a mail stating that the India Issue is back and Electronic Transfer would be discontinued from 1st August’10 brought a lot of distress among all Indians.

Couple of months back when the same issue over electronic transfer had erupted it had taken them more than a month to come up with a solution(Purpose codes). So today when I say the mail, I feared worse but was pleasantly surprised.

Now Electronic Transfer will still be available from 1st August’10. Also the $5 fee waived off on cheque withdrawal will still be there. I suspect this to be only a temporary thing and it might not be long when the issue is raised again. My advice would be to start testing alternate options and transfer more frequently to your bank accounts.

Without making you read more, the email from Paypal is below:

Dear Piyush Agarwal,
We’ve received good news. You can continue to enjoy electronic withdrawals just as you did before.
While we have received your appreciation for the advanced notice and the refund of the cheque processing fee, we also have heard loud and clear that you highly value the ease-of-use of our electronic withdrawal service. Our customers are our number one priority and we are working tirelessly to improve our service.
Thank you for your patience and in appreciation for your continued support, we will still provide the $5 USD processing fee refund for any cheque withdrawals made from July 29, 2010 until further notice.
For any enquiries, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us’ at the bottom of the page.
Thank you,
The PayPal Asia Team

PayPal India Issue Back – Electronic Transfer to be stopped

July 28, 2010 Piyush Agarwal 21 Comments

A few months back PayPal issue had been troubling Indian users in availing payments. For more than a month, Paypal users were left stranded as all the ways of requesting money withdrawal had been blocked.

After a lot of chaos and wait, PayPal came up with a solution according to Indian Regulations which will enable fund transfers with the help of Purpose codes. Things seemed to have been sorted out then and it seemed no more issues will creep in.

But to user’s dismay, the electronic transfers started taking more time than earlier and also since a PAN number was required, users (like me) were not able to operate multiple PayPal accounts. But still everything was fine as money was reaching the users.

This morning I received a mail from PayPal stating that they will be stopping the electronic fund transfer from 1st August’2010 yet again. From 29th July’10, users can request a cheque transfer, fees to which will be reimbursed. Though it is not so clear why these issue are happening, they are surely causing a lot of worry among Indian users as there are thousands of PayPal users in India who rely on it for their daily business and transactions.

As these issues are happening repeatedly, I feel users should now find PayPal alternatives are switch to whichever suits the best. Also check out this list of Indian webstores where you can spend your Paypal money. Below is the email received from Paypal.

In accordance with regulatory instructions, we would like to notify you about a change in our 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.
From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.
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, we will refund the $5 USD cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.
For any questions, please log into your PayPal account and click ‘Contact Us’ at the bottom of the page.
We apologise for any inconvenience caused from this change in our withdrawal functionality. We will provide ongoing updates to you here. We thank you for your attention and patience as we work tirelessly to resolve this situation as quickly as possible.
Thank you,
The PayPal Asia Team