Today in the morning, I got an email from Paypal stating that they Indian users will now only be able to withdraw money by Cheque from August 1,2010.
Its very disappointing news for Indian Paypal users who used to carry out wireless fund transfer directly to their bank account and now will have to wait for a cheque and will have to deal with the hassles of cheque reaching late, lost cheques, depositing cheques in bank accounts etc.
Anyways, what has to happened, have already happened. The good thing is that the paypal will refund the 5$ charge for issuing a cheque till it is the only option available for withdrawal.
To request a cheque for withdrawal
Step 1: Log into your PayPal account, click on ‘Withdraw’.
Step 2: Click on the ‘Request a cheque from PayPal’ link. It usually takes 4 to 6 working days
to process the cheque, excluding the delivery time.
Step 3: Enter the withdrawal amount and select your mailing address, then click ‘Continue’.
Please note that a monthly withdrawal limit of $2,500 USD applies.
Step 4: Click ‘Submit’ to confirm your request.
So, what are you going to do now? Are you going to use Cheque withdrawals or transfer to another service and then carry out a wireless fund transfer?
UPDATE : Paypal has resumed the Wireless Funds Transfer service.
[…] we informed you that Paypal has stopped Wireless funds transfer for Indian users and now its time for a good news that they have again resumed their service back for Indian users […]