{"id":14316,"date":"2010-07-28T17:07:02","date_gmt":"2010-07-28T11:37:02","guid":{"rendered":"https:\/\/www.quickonlinetips.com\/archives\/?p=14316"},"modified":"2020-05-24T10:31:26","modified_gmt":"2020-05-24T05:01:26","slug":"paypal-stops-india-electronic-bank-withdrawals","status":"publish","type":"post","link":"https:\/\/www.quickonlinetips.com\/archives\/2010\/07\/paypal-stops-india-electronic-bank-withdrawals\/","title":{"rendered":"PayPal Stops Electronic Fund Transfer to India Banks"},"content":{"rendered":"<p>PayPal has stopped electronic bank withdrawals to customers in India and seems part of the continuing problems with Reserve Bank of India and international money transfer guidelines across India.<\/p>\n<p>PayPal has <a href=\"https:\/\/www.thepaypalblog.com\/2010\/07\/update-on-paypal-accounts-for-india-users\/\" rel=\"noopener\">announced<\/a> that<\/p>\n<blockquote><p>In accordance with regulatory instructions, there will be 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.<strong> From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.<\/strong><\/p><\/blockquote>\n<p>Paypal had earlier <a href=\"https:\/\/www.quickonlinetips.com\/archives\/2010\/02\/paypal-stops-india-payments\/\">blocked personal payments<\/a> to India as per RBI orders, then later restored payments but only for <a href=\"https:\/\/www.quickonlinetips.com\/archives\/2010\/02\/paypal-india-bank-withdrawals-for-export-goods-services\/\">settlements for exports of goods and services<\/a>, and that too with requirement of an <a href=\"https:\/\/www.quickonlinetips.com\/archives\/2010\/03\/paypal-india-purpose-code\/\">purpose code<\/a>.<\/p>\n<p>While Paypal is working on restoring fund transfers to India, the<strong> cheque withdrawal is the only option <\/strong>available for the thousands of freelancers using the Paypal as a convenient payment option. Paypal has <a href=\"http:\/\/www.paypal-apac.com\/india\/\" rel=\"noopener\">setup a page<\/a> for Paypal India users on how they can request a cheque to cash out their funds.<\/p>\n<p>To pacify the users, Paypal has also decided to <strong>refund the US$5 cheque withdrawal fee<\/strong> for cheque withdrawals made on July 29, 2010 onwards. I am sure lot of PayPal users will be disappointed as cheque withdrawal and bank deposit takes a long time for money transfer&#8230;<\/p>\n<p><strong>UPDATE<\/strong> (30\/7): Paypal has <a href=\"https:\/\/www.thepaypalblog.com\/2010\/07\/electronic-withdrawal-service-continues-in-india\/\" rel=\"noopener\">restarted electronic withdrawals<\/a> to India banks.\u00a0To thank you for your loyalty, they will still provide the US$5 processing fee refund for any cheque withdrawals made from July 29 until further notice.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PayPal has stopped electronic bank withdrawals to customers in India and seems part of the continuing problems with Reserve Bank&#8230;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[1],"tags":[24],"class_list":["post-14316","post","type-post","status-publish","format-standard","hentry","category-tips","tag-india"],"_links":{"self":[{"href":"https:\/\/www.quickonlinetips.com\/archives\/wp-json\/wp\/v2\/posts\/14316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.quickonlinetips.com\/archives\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.quickonlinetips.com\/archives\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.quickonlinetips.com\/archives\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.quickonlinetips.com\/archives\/wp-json\/wp\/v2\/comments?post=14316"}],"version-history":[{"count":0,"href":"https:\/\/www.quickonlinetips.com\/archives\/wp-json\/wp\/v2\/posts\/14316\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.quickonlinetips.com\/archives\/wp-json\/wp\/v2\/media?parent=14316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.quickonlinetips.com\/archives\/wp-json\/wp\/v2\/categories?post=14316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.quickonlinetips.com\/archives\/wp-json\/wp\/v2\/tags?post=14316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}