have anyone withdraw money from paypal to indian local banks,after the issue?

India
March 8, 2010 8:12am CST
hey, there were many discussion on paupal problem and many discussions displayed as paypal problem solved. does the paypal problem really solved? how can i withdraw my money in paypal to my local bank in india? i have withdrawed it before the issue, but after the issue ocoured and its being solved, i am not clear how to do it. anyone please help me. what sort of code should i enter to withdraw money to my bank? i have earned the money from the paying sites and want to withdraw it to my bank account to buy some electronic item from local bazar in india. should i need to produce any documents in the bank to withdraw money to my local bank in India? help me
3 responses
@rachel999 (211)
• India
8 Mar 10
Hi Rama Swamy, you need to visit paypal blog for all details regarding purpose code, once paypal sends the money to your bank you do not need any documents to submit or withdraw the funds to the local bank, the blog address is thepaypalblog.com
• India
8 Mar 10
so is the transaction to the local banks from paypal working .
• India
8 Mar 10
Hi Dilip, The transactions have started to India but first for the verified account, later the others will get it too, I think the whole process will be over in the next couple of weeks, don't worry, Take Care & God Bless
• India
8 Mar 10
whats meant by the verified account . the two small accounts they will deposit in our bank account and we should just type the amount in the paypal . is it that verification .
• India
8 Mar 10
Paypal issue is still unresolved as it was. Paypal in their official Blog has assured many things. But nobody has received money to their Indian bank account. Regarding Purpose CODE,they are(Paypal) completely confused along with me, you and all Paypal account holders. If I earn money from multiple sources and websites, what will be my purpose code? Paypal is silent about this.Paypal has never stated any where that they have started Bank transfer to Verified account holders, as Rachel has replied.
• India
8 Mar 10
Richard M, please get your facts right, read blog again, paypal is following orders of RBI, the rule book of RBI says exports and business community will be sorted out first (03/03/2010), which payments have already started, then only premier, verified and personal payments will follow later, how the purpose code works, everything is mentioned, just read details, you just know paypal has not said anything yet, read the blog properly Mr Richard, please do not panic, India is not a small account, which a company like Paypal can afford to lose, even after multiple frauds of millions, please be patient and wait for more statements from RBI or Paypal
• India
9 Mar 10
I am a verified user, but paypal verified my account by giving two small amount to my bank account and i entered it in paypal. now my status is verified. but i dont know how to withdraw money, what sort of purpose code should i enter? what do you give there?
• India
8 Mar 10
I think that there should be no problem in taking the money from paypal to your bank as the Site now just requites the CODE that you can get from the paypal blog. It does not need any documents to be submitted. I guess its easy to withdraw the money nearly the same way we used to do earlier.
• India
8 Mar 10
Hi, you are right and it is just a matter of few days, paypal will solve this issue, if we panic or something nothing will happen, so it is better we wait and watch, wasting our energy does not make sense, it will be solved for sure.