Paypal India - No Autowithdraw any more!

cooltoad

Senior Member

Sep 10, 2010

930

556

• Dec 2, 2011

• #1

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

 

rpkrocks

BANNED

Feb 4, 2010

1,037

978

• Dec 2, 2011

• #2

Code:

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

cooltoad

Senior Member

Sep 10, 2010

930

556

• Dec 2, 2011

• #3

@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.

 

stonecold316

BANNED

Jun 5, 2011

555

237

• Dec 2, 2011

• #4

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

 

cooltoad

Senior Member

Sep 10, 2010

930

556

• Dec 2, 2011

• #5

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

 

rpkrocks

BANNED

Feb 4, 2010

1,037

978

• Dec 2, 2011

• #6

cooltoad said:

@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.

Click to expand...

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

 

daisy447

Regular Member

Apr 7, 2011

466

135

• Dec 2, 2011

• #7

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

 

jass11

BANNED

Jul 22, 2010

1,572

1,103

• Dec 2, 2011

• #8

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

 

J

jaggs

Registered Member

Jun 4, 2009

71

10

• Dec 5, 2011

• #9

jass11 said:

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

Click to expand...

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.

 

Digital Marketer

Elite Member

Sep 23, 2009

5,284

1,498

• Dec 5, 2011

• #10

jaggs said:

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.

Click to expand...

I have not seen so weak indian rupee from the time i had opened my PP account...

 

M

mr.friend

BANNED

Aug 18, 2011

30

5

• Dec 5, 2011

• #11

sameer5762 said:

I have not seen so weak indian rupee from the time i had opened my PP account...

Click to expand...

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

 

Razvan

Power Member

Jun 1, 2009

648

351

• Dec 5, 2011

• #12

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

 

J

jaggs

Registered Member

Jun 4, 2009

71

10

• Dec 5, 2011

• #13

sameer5762 said:

I have not seen so weak indian rupee from the time i had opened my PP account...

Click to expand...

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

 

C

cashmaster

Junior Member

Dec 25, 2010

146

17

• Dec 12, 2011

• #14

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.

 

C

cashmaster

Junior Member

Dec 25, 2010

146

17

• Dec 12, 2011

• #15

Razvan said:

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

Click to expand...

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.

 

K

kooabs03

Newbie

Aug 27, 2011

36

4

• Dec 25, 2011

• #16

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?