Search This Blog

PayPal Finally Started Auto Withdrawal option for Indian PayPal users!!!



This is good news to share with all PayPal friends from India that PayPal stated executing auto withdrawal option and more so they have waived off the fees that is Rs.50 which they use to charge earlier from us.

In the month of May 2011, PayPal sent an email to confirm account details and in that email PayPal explained that now following information is now compulsory for all account PayPal account holders in India that is ...

In order to comply with the RBI Guidelines, all PayPal users in India receiving payments from cross-border sale of goods and services and withdrawing money, are required to update their PayPal account by adding:
  • PAN or Permanent Account Number
  • Purpose Code
  • Bank account in India
 By adding this information, you will continue to receive payments into your PayPal account and your account will not be limited from receiving future payments. You will also be able to withdraw money to your bank account in India. Or, allow your money to be auto-withdrawn into your bank account. If you currently have a PayPal balance, you will also need to update your PayPal account with the information.

And the last date of confirmation was Aug 22, 2011 and failing which will result in limited account access of your PayPal account...


Today that is September 15th 2011,  PayPal finally executed the auto withdrawal option as many friends from India got the confirmation from PayPal that amount is transferred to bank account registered in paypal and will be received by them in 3-4 working days....

I am very happy with move and now we don't pay the charges for transfer which we use to pay....

This link related to FAQ on automatic withdrawal with solve all your queries related to paypal...
Refer this link to for detailed information about this topic....

If you have any doubt feel free to ask or share your experience with PayPal...













4 comments:

  1. Yeah, this is good news for us.

    ReplyDelete
  2. Yes, best part they waived off the withdrawal fees, this is actually welcome move.

    ReplyDelete
  3. I'm new in this. Is it completely safe provideing my bank account info or credit/debit card info to paypal. Do they charge money for using paypal? How?
    I want to open paypal account to earn online using linkbucks.

    ReplyDelete
    Replies
    1. Hi Anonymous,

      Yes, it is completely safe and more so our bank and card details are encrypted.

      PayPal don't charge for opening an account or using that money, But Paypal charge fee for receiving and withdrawal
      check this link for fees structure
      https://www.paypal.com/in/cgi-bin/webscr?cmd=_display-fees-outside

      Open an Account Free

      Send money Free

      Withdraw Funds
      Free to bank accounts in India
      Fees for other withdrawal options

      Receive payments
      International payments (outside India):
      2.9% + $0.30 USD to 3.9% + $0.30 USD

      Multiple currency transactions Exchange rate includes a 2.5% fee*

      How safely you can operate your PayPal account:

      Be Safe . Be Alert - Don.t let your paypal online account details fall in the fraudsters hands

      In case of doubt, do not click on any link provided in the e-mail

      Do not access paypal or make payments using your Credit/ Debit Card from shared or unprotected computers in public places

      Do not transfer funds to or share your account details with, unknown/ non-validated source, luring you with commission, attractive offers.


      Do not give any confidential information such as password, customer id, Credit/Debit Card number or PIN,CVV,DOB to any e-mail request, even if the request is from government authorities like Income Tax department or any Card Association company like VISA or Master Card

      Do not open unexpected e-mail attachments or instant message download links

      Always check the web address carefully before sharing any sensitive information

      If you receive any e-mail, phone call requesting your paypal details like your login id, password, or Credit/ Debit Card details, please do not respond to it and forward the e-mail to Forward fakes to spoof@paypal.com

      If you think you’ve received a phishing email:

      Forward the email to spoof@paypal.com
      Delete the email

      Be on the safe side
      Go to the My Account tab and click History to check your transaction history for inaccuracies.

      Delete

Blog Archive

Scan this QR code using a bar code scanner on your smart phone to get instant information about us

Scan this QR code using a bar code scanner on your smart phone to get instant information about us
Investing Can be Interesting & Financial Awareness

Popular Posts

Golden Rules for Investing

Golden Rules for Investing
Golden Rules for Investing