Thread: Indian Paypal Users: PayPal halts personal payment transactions to India

There some news:
The Associated Press: PayPal's India transaction block could last months

Personal payments will be suspended for *months*, but it seems the bank withdrawals will be OK in a few days.

The article talks about new regulations in India.

I wonder what is going to be imposed on us.

Originally Posted by Naweed

There some news:
The Associated Press: PayPal's India transaction block could last months

Personal payments will be suspended for *months*, but it seems the bank withdrawals will be OK in a few days.

The article talks about new regulations in India.

I wonder what is going to be imposed on us.

Thanks for the update. I don't care though they suspend personal payments forever but i am waiting to get the chance of withdrawal to bank. They have already said that the problem will be solved by tuesday or thursday of this week. Later on, they said it will be solved in this week and now they are saying that it will be solved in a few days.

My experience with all banks is that if they can use the exchange rate in "their" favor, they are going to no matter what...just something else to help pay the CEO bonuses...doesn't surprise me PayPal is doing the same thing here.

Originally Posted by Arunkumar

Thanks for the update. I don't care though they suspend personal payments forever but i am waiting to get the chance of withdrawal to bank. They have already said that the problem will be solved by tuesday or thursday of this week. Later on, they said it will be solved in this week and now they are saying that it will be solved in a few days.

What's the tax on a paypal withdrawl?

Originally Posted by Naweed

I just checked, a withdrawal made on 27th Jan 2010 has been reversed.

No details are mentioned, apart from "Transfer To Bank Account Reversed".

And PayFoe has eaten up some money in the process.

They seem to have refunded the conversion charges/transaction fees after several days.

But I still don't feel like calling it my pal.

Originally Posted by Naweed

But I still don't feel like calling it my pal.

eBay/PayPal are some evil bastards. There are no ones friend but their own.

It was very disturbing for hundreds of webmasters and freelancers. But things are okay now. Many other paypal alternative tried to grab the Indian market. Alertpay issued a newsletter just 3 days back allowing easy transactions to and from India (it never did before)

I had to set up a complete product cart at 2CO to kick off paypal issue within 24 hours when this paypal issue hit the market and business. It's alright now and working perfectly.

About withdrawal, you can use xoom.com. Get all your money deposited to your bank accounts in India within 24 hours at little higher fee. (it makes no difference though. You get your money ultra quick and with little fee. Paypal gives lesser exchange rate, xoom charges.. same thing). You can withdraw as much as $6000 per month.

Get going easy. If payment modes are smart and sickass, people are smarter and kickass

Originally Posted by bogart

What's the tax on a paypal withdrawl?

They charges about 50 INR only. Withdraws more than 7000 INR are no need to pay the fee.

Originally Posted by ChillingBreeze

It was very disturbing for hundreds of webmasters and freelancers. But things are okay now. Many other paypal alternative tried to grab the Indian market. Alertpay issued a newsletter just 3 days back allowing easy transactions to and from India (it never did before)

I had to set up a complete product cart at 2CO to kick off paypal issue within 24 hours when this paypal issue hit the market and business. It's alright now and working perfectly.

About withdrawal, you can use xoom.com. Get all your money deposited to your bank accounts in India within 24 hours at little higher fee. (it makes no difference though. You get your money ultra quick and with little fee. Paypal gives lesser exchange rate, xoom charges.. same thing). You can withdraw as much as $6000 per month.

Get going easy. If payment modes are smart and sickass, people are smarter and kickass

You are exactly right. Xoom is working great. I have withdrawn $100 yesterday in the evening at 5:30 PM by using coupon code so there is no fee and today i got the money at 5:45 PM itself. This proves how the xoom is working. It is faster than paypal.

Originally Posted by Arunkumar

They charges about 50 INR only. Withdraws more than 7000 INR are no need to pay the fee.

How much is the tax in India for a withdrawl to a bank account from paypal of an ammount in excess of 1 lakh rupees?