Its a good news for all the PayPal users in India. Reserve Bank of India (RBI) has allowed PayPal bank accounts withdrawals again.
The service will be made available from 3rd March 2010 again. RBI guidelines stopped the PayPal balance withdrawals using bank accounts and as a result, many users used some PayPal alertnatives like Xoom.com to get their money.
Farhad Irani Asia PayPal head, announced this on the PayPal official blog. And Now you need to fill an extra field called Export Code. Please check the PayPal blog again on 1st March 2010 for more information on Export Code.
Personal payments into India will remain suspended. PayPal will made some more changes to their system to meet RBI guidelines.
Visit PayPal Blog for more information.
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@last a Gud news .
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 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.
Don’t apply for a charity account with pay pal if you are living in India. Just wastage of time and money.