No more online bank withdrwal Paypal in India

Paypal has removed the option to withdraw your funds directly from paypal to your online back account. The only other option is to request for a payment cheque from the online money transaction giant.

Paypal has been landing into a lot of troubles with its operation in India lately. The government of India seem not to like the operation and services provided by Paypal. With Paypal it became very easy for anyone to earn a nice share of money from a personal blog or site and get that sum into their bank account.

Paypal is now shutting down the option to withdraw funds directly to your bank account from your online account. So now to have the funds into your account you can only ask them to issue a cheque to your name which would be charged at an additional fee of US$5.
This is what they mailed us –

Dear Shashank Agarwal,

In accordance with regulatory instructions, we would like to notify you about a change in our withdrawal functionality in India starting on August 1, 2010. At present you can request for either an electronic or cheque withdrawal of funds from your PayPal account if you are an India user.

From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.

While we are working hard to restore the electronic withdrawal service, in the meantime, we are bringing this matter to your attention so that you can plan your future withdrawal activities accordingly.

To request for a cheque withdrawal:

1. Log into your PayPal account, click on ‘Withdraw’.
2. Click on the ‘Request a cheque from PayPal’ link.
3. Enter the withdrawal amount and select your mailing address, then click ‘Continue’.
4. Click ‘Submit’ to confirm your request.

In order to help you with this change and until further notice, we will refund the $5 USD cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.

For any questions, please log into your PayPal account and click ‘Contact Us’ at the bottom of the page.

We apologise for any inconvenience caused from this change in our withdrawal functionality. We will provide ongoing updates to you here. We thank you for your attention and patience as we work tirelessly to resolve this situation as quickly as possible.

Thank you,
The PayPal Asia Team

The worst thing about is that, the minimum amount to request for a cheque is $150 and that’s way high for most bloggers. So we hope they fix this soon.

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