Just three days after PayPal decided to discontinue electronic transfers in India and dismayed its Indian customers, Paypal has decided to reverse its decision. Dickson Seow from the PayPal Communications team posted on the official PayPal blog that Indian users can perform electronic withdrawals right now as they did before. Going the extra mile to serve its customers, the company has also decided to still provide the US$5 processing fee refund for any cheque withdrawals made from July 29 until further notice.
This decision reversal by PayPal in such a short period clearly shows the importance of India as a market to the company and explicitly demonstrates the fact that customers are the # 1 priority for the company. Also it seems that Paypal has rather been quick to resolve issues with RBI which were the reasons to withdraw electronic service in the first place.
We have contacted paypal for an interview in this matter and shall update as we have their answers.
The official announcement made by PayPal is present here and is also the link to look out for further updates.
Wow…thats great news. a sigh of relief for the Indian PayPal users.
Hi Achalla
Thanks for this excellent post. Though I have received official mail from paypal, I would like to seek your guidance. I am a freelancer working on odesk. I have been using moneybookers.com to receive funds in Rs. I just wanted to know, if you have used paypal before, which would be the best service, in terms of currency conversion, fees/service charge and efficiency.
Thanks.
Taiseer
Great news !! A sigh of relief !!! Did not expect this to happen so fast !
A new fact about Pay Pal :
I applied for a charity account with Pay pal because its free and supported by vbulletin software for payment subscription, I have all the documents like NGO Registration certificate, Memorandum of Society, Society PAN card, and the Bank details , bank details were verified by the Pay Pal by depositing amount of Rs. 2 and 40 paisa, after submitting all the document as per said in their website and in their emails, they denied me for the account, just because they have no tie-up with India regarding charity account, what the hell is this, why the pay pal people should not mention at the time sign up process. I have wasted around 1000/- rs in doing fax to pay pal and after 4-5 days they denied.
Don’t apply for a charity account with pay pal if you are living in India. Just wastage of time and money.