PayPal Update on Withdrawing Money to Indian bank Account

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.

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Authored By
A Blogger, Author and a speaker! Harsh Agrawal is recognized as a leader in digital marketing and FinTech space. Fountainhead of ShoutMeLoud, and a Speaker at ASW, Hero Mindmine, Inorbit, IBM, India blockchain summit. Also, an award-winning blogger.

38 thoughts on “PayPal Update on Withdrawing Money to Indian bank Account”

  1. Hi

    Happy Holi to everybody.

    Well i got the answer from Paypal about the export code.

    Thank you for reaching out to us. I?m contacting you on behalf of
    Farhad Irani regarding your email below.

    This code will be issued to you by PayPal. We should be updating you on
    this process by 03/03/10. Any India account that is selling a good and
    or service will need this code.

    We appreciate your patience and understanding regarding this matter, and
    wish you continued success on PayPal.

    Sincerely,
    Alissa
    PayPal Customer Solutions
    PayPal, an eBay Company

  2. Here is more news from Paypal:

    My question to them was:
    I have an amount which is pending. When will i have it
    on
    my bank account?

    This is Paypal answer:

    Thank you for taking the time to contact us with your concerns. I am
    happy to assist you further.

    Because of the recent issue with processing bank withdrawal transfers,
    the withdrawals are currently pending. We are actively working to
    restore these pending funds to your PayPal account balance as quickly as
    possible, so that you may withdraw the funds to your bank using the new
    withdrawal method.

    We appreciate your patience and understanding regarding this matter, and
    wish you continued success on PayPal.

    Sincerely,
    Alissa
    PayPal Customer Solutions
    PayPal, an eBay Company

  3. what is the purpose code for withdrawing funds from paypal for selling goods in the domestic market

  4. larry patrick

    signed on to paypal in 2009 for internet buisness which failed imeadiately. ihave a$ 15.95 paypal fee withdrawn from my bank account every month. how do i stop this????

  5. I created an account in PayPal and linked my bank account, but i didn’t receive any small transaction to get my bank account confirmed.

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