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

Originally Posted by bogart

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?

As said above any withdrawal to bank which exceeds Rs 7,000 is free

Hey, i'm unsure if you guys are aware of it but if you need to withdraw you must try Xoom.

I had a pending withdrawal of $1200 and it was reversed to my Paypal account. Seeing 'many' positive reviews on DP, i opted for Xoom and withdrew $800 on the first day. Payment to my bank account was completed within 24 hrs. However i had to pay a Fee of i guess $26.99 but the exchange rate was 46.10 as against Paypal's low exchange rate. Log Below :

Feb 10, 2010 06:02:11 PM
Transaction Completed
Feb 10, 2010 02:02:02 AM
Deposit in Progress
Feb 10, 2010 01:29:48 AM
Transfer in Progress
Feb 10, 2010 01:29:09 AM
Payment Verified
Feb 10, 2010 01:29:02 AM
Payment Processing
Feb 09, 2010 11:02:00 PM
Xoom Processing

The next day again i requested a withdrawal of $500 from Xoom to my Indian Bank Account and it was processed without any fee as i used a coupon i found(XOOMONETIMER), this too was received within hrs. Log Below :

Feb 11, 2010 06:02:04 PM
Transaction Completed
Feb 10, 2010 11:02:01 PM
Deposit in Progress
Feb 10, 2010 10:02:26 PM
Transfer in Progress
Feb 10, 2010 10:02:09 PM
Payment Verified
Feb 10, 2010 10:02:02 PM
Payment Processing
Feb 10, 2010 09:52:16 PM
Xoom Processing

As far as i know, this a completely Legit way of receiving money to your bank account from your Paypal account and Paypal will/should not object.
Steps are :
1) Sign-up To Xoom
2) Click Send money
3) Add your name and address/e-mail in both the sender and receiver(no issues - use the same country as i believe inter-country transactions will not work)
4) Choose bank deposit and NOT cash pickup.
5) Add all details required and authorize the Paypal payment.
6) You'll receive a tracking number which you can use to check the progress of your transaction.
7) You 'may' receive a call from them for verification(i didn't receive but some DP members did receive).
Done.

Originally Posted by shivachettri

As said above any withdrawal to bank which exceeds Rs 7,000 is free

Does the Indian Government hit you will extra taxes?

Originally Posted by bogart

Does the Indian Government hit you will extra taxes?

No, but Paypal offers a low exchange rate. e.g., if the Actual $ - INR rate is $1 = INR 46, Paypal will offer something like $1 = INR 44.
So when considering huge amounts, Paypal makes a hefty profit here while we lose in that.

Originally Posted by Snak3

No, but Paypal offers a low exchange rate. e.g., if the Actual $ - INR rate is $1 = INR 46, Paypal will offer something like $1 = INR 44.
So when considering huge amounts, Paypal makes a hefty profit here while we lose in that.

So on $5000 USD you could loose something like 12,000 Indian Rupees. That's a lot of rupees.

Originally Posted by bogart

So on $5000 USD you could loose something like 12,000 Indian Rupees. That's a lot of rupees.

yes this is really lot

in normal city if you are earning 10k Rupee then you are in middle class

I haven't tried Xoom will give a shot... for sure thanks

Want to try Xoom, but alas ... my funds are showing as Transaction completed in Paypal, But it has not yet hit my bank account .... don't know when it would come or when they will revert back to my PP account !!!

Originally Posted by perfectblue

Want to try Xoom, but alas ... my funds are showing as Transaction completed in Paypal, But it has not yet hit my bank account .... don't know when it would come or when they will revert back to my PP account !!!

same happen with me,

in paypal detail page show transaction completed 7 days ago but still not in my bank acc

Originally Posted by jakki

same happen with me,

in paypal detail page show transaction completed 7 days ago but still not in my bank acc

Call them and got blah blah answers.... also got email reply from them....

Thank you for contacting PayPal.

We are currently experiencing an issue processing bank transfers to
India bank accounts. I sincerely regret the inconvenience it has caused
you. As a result there may be some delays in both withdrawals and
random deposits. We are doing everything we can to process your
withdrawal as soon a possible; however, we do not have a specific
timeframe to share at this time.

Our technicians are working to resolve this matter. We appreciate your
patience and understanding.

We hope you understand our situation and thank you for your patience.
We're available to answer any questions you might have. Just give us a
call at 1-402-935-2080 and we will try our best to give you immediate
answers or you can also visit www.PayPal.com/101 for more information.
We appreciate your business.