Discussion in 'BlackHat Lounge' started by risefromdeath, Jul 28, 2010.
Forget to mention..today is the last day Electronic transfers are available..if you want to make one the time is now!!
I also got the the mail from them today
however its not paypal who is creating issues its all because of our RBI
here is the short note from the mail
electronic transactions wont work anymore
today is the last day as OP said
but we will be able to use cheque withdrawal
and the cheque withdrawal fees will be refunded back
Some of my sellers gonna be mad about this :/
RBI has big security concerns regarding flow of money coming in from outside India. It sucks, but we gotto deal with it.
Yeah, just got the mail.
Problem is, if paypal issue check in USD for Indian then it will take:
1) At least 15 days for check to arrive via LOCAL post (they do not courier)
2) If issued in dollar amount, then another 30 days for conversion and credit to account.
If you use clickbank.com then you might be knowing that clickbank sends earning in first 2 checks, then funds transfer.
Best option for Indians would be:
1) Get account at Plimus.com (apply for payoneer card through them, free of cost)
2) Transfer your paypal earning to Plimus account (almost 7.5% fees of plimus) by making your own purchase
3) For sales made between 1-30th, they pay on 15th of next month (Still faster then check payment)
4) On 15th, they will shift account balance to your payoneer master card and you can withdraw that money instantly from any ATM.
5) Or select there "Wire" option, so you will get money by 18th of next month for sale between 1-30 of previous month.
Hope it helps!
Paypal issue "Cheques" in local currency Indian Rupees.
Time of Arrival : 12-18 days
Time for clearance : 3 days (as normally for all cheques required)
$$$$ hm , I see new market in payment processing , $$$$
on the side note I am staying away from PP anyways. I am not Indian or in India but have many partners and customers there. since most of my Indian transactions are B2B we handle it directly via wire, it sucks though for EBay/resellers etc promoting and selling to consumers.
If you have any relative in the US its better to open Paypal ID in their name. I did the same in my SIL's name and even verified with her credit cards and bank accounts. As far as Paypal is concerned she is holding and operating the account.
Of course the money also goes to her bank account from Paypal (3 days) but then she will transfer via Western Union in 24 hours at a cost of $10. Otherwise the money stays in Paypal or her bank account. I did this the last time RBI played foul and this is much better. RBI for its part cannot tackle the corrupt politicians or corruption and instead wants to take on internet marketers... sad to say but this is India!
Thanks for the info. Then the time frame can be 17-21 days per check.
See, like every other government of world, RBI also want to take control of every penny coming in/out. By check payment, at least they will make sure money is counted in bank and thus is white money.
Yeah this sucks but we are marketeers and very dynamic in nature
Is there any other way to withdraw fast? for indians.. is xoom still works?
Its time for paypal to start "Fedex" Or "UPS" or some other Premium Courier Service to send checks. Even if the service costs $20-$30, it will be ultra fast and we can expect check delivery in 2-3 days. So in total it would be almost 5-6 working days to get the money credited into one's a/c. (2-3 days delivery + 2-3 days check clearing)
I second this. Anyone using xoom successfully ATM?
yeah Xoom could be a option , but last i checked about a week back , Xoom also has stopped withdrawl of funds to india , i suppose not sure about it now.
Look at this site
Scroll till the end and you will see this message
Please be reminded that any payments received into your PayPal account from the export of goods and services cannot be re-used for making purchases or any other payments.
Will the method that you are suggesting work?
Arent they control already??What diff it makes if the money is wired or encased?
What diff it makes to stop personal payments?
As its the Rbi issues xoom might not work as well.
I dont know why they are causing so many torubles..this Emarket was giving boost to the countries economy..those thick headed Hippocrates will never understand this
Re: paypal fucks Inidans Again!!???
No RBI FUCKS Indians. They consider paypal money as black money.
my postman does not deliver all mails.
lost my payoneerrrrrrrrrrrrrrrrrrrrr card.
who ever is suggesting plimus is enemy.
they deduct direct 10% of earned amount, so do not fuuck with them. i used them as trial once.
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