Today morning when I saw an update on Paypal blog about current situation of Paypal in India, I was hoping to hear some good news from them. But it seems we need to wait for a while for some good news like resuming PayPal bank withdrawal.
According to latest blog post by Farhad Irani, who lead the PayPal Business in Asia pacific, mentioned :
It has always been possible for sellers to request a check or withdraw funds to a credit card, and these options are still available from the Withdraw Money tab of your PayPal account. If you don’t have a credit card attached to your PayPal account now, you can add one under the Profile section of your PayPal account. Before asking for a credit card withdrawal, please check with your card issuing bank to ensure that they can process it.
It usually takes five to seven working days for you to receive a check when you request a check withdrawal and PayPal normally charges a five USD fee. We are trying our best to help sellers during this difficult time and therefore will refund the check withdrawal fee back to your PayPal account within a week. I appreciate that this is not ideal, but please bear with us.
Seems like Paypal is working closely with reserve bank of India, to work out this issue. Meanwhile I just requested 1000$ using Xoom service and I believe it will take 24-48 hours to receive that money into my local bank account. If this work out well, I will write a post about the same on How you can withdraw money from paypal to bank account using Xoom.
Don’t forget to subscribe to Shoutmeloud feeds, to keep your self updated with Paypal india issue. Do check out related posts for more on Paypal issue in India.
Subscribe on YouTube