Paypal Resumes withdrawals to Bank accounts in India

Finally, after couple of months of painful times for many of the freelancers in India, we have some good news.

Now, you can withdraw funds from your PayPal account to your bank accounts.

There are some criteria that you have to meet, but that should not be a problem for most of the people who are doing business. It still will be a problem for those who would just want to send money to individuals and I don't know how that will be addressed in the near future.

You can read more about this here;

Hope this helps.

Srinath

Update on Paypal issue for Indian businesses

Here is an update from PayPal on their blog. It is still possible to transfer money, but only credit cards.

Here is the link to the post: https://www.thepaypalblog.com/2010/02/an-open-letter-from-farhad-irani-on-the-situation-in-india/

Srinath

Paypal Issue - Many Indian Customers Affected!

It just happened out of the blue!

Many have been taken by surprise by this move by Paypal. The fund transfers to and fro from personal accounts has been suspended and some of the transactions have been reversed. Many freelancers, small businesses that used Paypal have been affected because of this!

Paypal cites it is governmental compliance requirements which will take time to get sorted out, may be a few months. That means, your money is sitting pretty in paypal and you can't withdraw it till this gets sorted out!

Here is the post on the official Paypal blog: https://www.thepaypalblog.com/2010/02/update-on-paypal-situation-in-india/

Let us keep our fingers crossed and hope it gets resolved soon!

Srinath