Resuming local bank withdrawals to India :)

India
February 26, 2010 11:29pm CST
I got this email from Paypal about paypal payments: "Today, we are happy to announce that the RBI has allowed us to continue local bank withdrawals for settlements for exports of goods and services" The email is too long and has more details but I did not understand the core of it. It says that settlements fro goods and services. Does that mean we can withdraw paypal money to our local account or can make transactions. Did you get any such email and understood ?
2 responses
vanny
@vandana7 (102698)
• India
27 Feb 10
Hi Ajay, yes - it is a good news, isn't it? I know a few who will be delighted at this. :) Thank god. :) I got the mail, but I didnt bother to read through it. LOL. I will, now that you have highlighted somethings. :)
1 person likes this
AjaySinghBaghel
@AjaySinghBaghel (5506)
• India
28 Feb 10
I am happy after reading the complete email now. We will have no issues transferring money from PayPal. Be Happy :)
vanny
@vandana7 (102698)
• India
1 Mar 10
Actually, I am the one who is confused now, after reading the complete email. He says no personal payments, but he doesnt say withdrawals. Would withdrawals amount to personal payments? He says personal payments are not yet allowed. :( Anyway, I will be withdrawing a few dollars. As soon as they credit that amount, I will let you all know. Alternately, you can also try and let us know. :) Have a nice day Ajay and be happy, and convey my blessings to Pratibha. :)
sunnycool
@sunnycool (12714)
• India
27 Feb 10
hi Ajay i just checked my email and its a good news---they're gonna resume transfers from march 3 rd onwards---but seems they were asked to provide with some verification kinda stuff by RBI---which would be completed by the march first week---so hurray we can transfer our money to our respective local banks---may be under some restrictions---i hope they resume the personal payments too---it would be much better.great day.
vanny
@vandana7 (102698)
• India
27 Feb 10
So sunny is very happy. :) You know sunny - I was missing quite a few faces since past month or so. They will also return I guess. :)
sunnycool
@sunnycool (12714)
• India
27 Feb 10
owww i cant even imagine someone living or being inactive in mylot as paypal doesnt support transfers to indian banks
AjaySinghBaghel
@AjaySinghBaghel (5506)
• India
28 Feb 10
I knew it that things will be on track soon and did not stop myself from mylotting. It was a cause of worry and finally I had thought that in any case I can use paypal money for online shopping. Thanks Sunny and vandana. Be happy :)