Paypal Gives another Shock Treatment to its Indian Customers
Posted by GeorgeJul 28
Paypal has given yet another shock treatment to its Indian customers and this time they have decided to stop the electronic withdrawal service for its Indian users. This means that now they cannot transfer Paypal amount to their bank account through electronic withdrawal facility. Now they have only che cheque withdrawal as the only option remaining to transfer Paypal funds to their respective bank accounts. This will be valid for all transactions from 29th July 2010 until further notice.
Paypal is one of the most popular online money transaction platform and is used by a lot online users through out the world. In India also there are a lot of people who are availing this online money transaction facility offered by Paypal. Paypal has send an email to all its Indian users today and has ensured that they are working hard to restore the electronic withdrawal service and has requested its Indian users to plan their future withdrawal activities accordingly.
You can request a cheque by following some simple steps.
1) Log into your Paypal Account.
2) Once you are logged in, click on the link “Withdraw”.
3) You can now enter the amount you wish to withdraw and also needs to select your mailing address.
4) After completing step 3, click on the link “Continue”
5) After this click on the link “Submit” to confirm your cheque withdrawal request.
Paypal has also guaranteed to refund $5 cheque withdrawal fee for withdrawals made from 29th July 2010 onwards. Hope that they quickly
restore the electronic withdrawal service so that we can transfer money to the our bank account much quicker. Cheque request usually makes delay in transferring money to the bank.
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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.