What to do with the Paypal?????
February 11, 2010 2:13am CST
Hi Guys, Have you heard the news saying paypal has stopped its services in INDIA..... I am from india and I have given the paypal ID to this mylot, now what to do? how can I get my money from mylot now? Please suggest me.... please please please
11 Feb 10
Paypal just came up with an update that the service will take "atleast a few months" to get re-started. It will not be well again when we need the money. After all, even withdrawals to bank accounts are now suspended. So our hard-earned money is just floating about in the WWW. This is highly frustrating.
11 Feb 10
It actually wasn't in their control. The RBI realised that all "personal" payments were not taxed and they "ordered" paypal to suspend all transfers until things were in order. Personal payments through paypal actually laid open a risk for money laundering. While they are right to put a tab on movement of funds, the least they could have done is informed people, or else provided an alternate way of payments while they set a process in place. The good news is that paypal has announced that while it will take a few months for the personal payment option to be open again, they will allow bank transfers within a few days. This is a BIG relief. There's at least some progress!!! :)