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Paypal India - No Autowithdraw any more!

Discussion in 'Business & Tax Advice' started by cooltoad, Dec 2, 2011.

  1. cooltoad

    cooltoad Senior Member

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    Seems like Paypal India learned their lesson and they stopped auto-withdrawing amounts as low 50 cents to Indian banks. According to the new diktat the minimum withdrawal limits have been lifted up to $150.

    Gosh paypal policy updates are hard to decipher and only after reading for about 15-20 minutes did I reach this page.


    Code:
    https://www.paypal.com/in/cgi-bin/webscr?cmd=_display-withdrawal-fees-outside
    If the page doesn't load here is a screenshot.
    Code:
    http://i.imgur.com/d3ULm.png
     
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  2. rpkrocks

    rpkrocks Jr. VIP Jr. VIP

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    https://cms.paypal.com/al/cgi-bin/marketingweb?cmd=_render-content&content_ID=ua/Residence_full&locale.x=en_GB&fli=true
     
    Last edited: Dec 2, 2011
  3. cooltoad

    cooltoad Senior Member

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    @rpk : What is that supposed to mean?
    I am talking bout auto-withdraw feature and not the list of countries that can send/receive payments.
     
  4. stonecold316

    stonecold316 BANNED BANNED

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    Even though they have disabled autowithdraw,I would suggest you to still withdraw money daily as Rupee is very weak as of now and you will get better $ to Re. conversions
     
  5. cooltoad

    cooltoad Senior Member

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    I know now is the right time to get your funds out. Withdrawing tonight.
     
  6. rpkrocks

    rpkrocks Jr. VIP Jr. VIP

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    There Where Around Two-Three Policy Updates This Month ,I Think This Is Also Updated

    Before This India Was In Other List:loco:


    These Will Be Followed After 22Dec:)
     
  7. daisy447

    daisy447 Regular Member

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    looks like everything is becoming tougher and tougher for Indians. Few days back facebook banned lot of advertisers and stopped taking payments...
     
  8. jass11

    jass11 Elite Member

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    Auto withdraw without fees was better
    as we couldn't use that balance for purchases,eventually we removed it to our bank only.
     
  9. jaggs

    jaggs Registered Member

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    But since rupee is weak atm and its weakin daily so we can get more profits if we can wait for few days and withdraw.
     
  10. sameer5762

    sameer5762 Elite Member

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    I have not seen so weak indian rupee from the time i had opened my PP account...:)
     
  11. mr.friend

    mr.friend BANNED BANNED

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    Completely agree with you, i was just about to comment that. lol
     
  12. Razvan

    Razvan Power Member

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    i wonder why they keep fucking with indian people ....
     
  13. jaggs

    jaggs Registered Member

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    Me too.As far as i remember it was always like 43-45 per $ rate throu out this year till this sudden crash.
     
  14. cashmaster

    cashmaster Junior Member

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    Paypal never much implemented the auto withdraw function. It worked for me just once, and then never again. You can withdraw any amounts you want, be it in cents. There is no fee.
     
  15. cashmaster

    cashmaster Junior Member

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    Because they want to get out of the RBI regulations. They could have functioned earlier like they did. But it means more losses for them, and they shall have to function like a bank that pays interest. Any financial establishment that takes in your money, and keeps it more than 7 days, have to function like a bank, and they have to pay interest for that to you, and all their actions shall be regulated by RBI. That's RBI regulations. But Paypal doesnt want that. Because they dont want anyone to regulate them , nor do they want to pay interest. It means less money to them. As a result, these lame excuses that we hear from Paypal about keeping in par with RBI regulations.
     
  16. kooabs03

    kooabs03 Newbie

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    Sorry to hijack the thread, but can anyone tell how much tax you need to pay in India? Is it the regular structure or you get some discount for forex inflow?