Paypal resumed local bank withdrawals! Latest update on Paypal on 4th march 10.  

Hi friend,

i do agree the email which we got was actually very confusing as they mentioned about IEC code, but they rectified and came up with Purpose Code.

I been religiously responding to paypal queries as many go to extent of spreading rumors, so the only reason to come up with discussion as they declared in the official page, as green signal from paypal.

Yes, 2 weeks back, things were very much different as now they resolved this issue.

I am really happy that you found my this discussion good and useful..

Viji,

I don't think they made any changes in verification process.
i want to add one more, even without verification, you can easily withdraw money to your payapl account, Verification is nothing but increasing the withdrawal limit..

*i mean withdrawal from paypal to your bank account

Ok friend.

i wish and hope for best for you, that you can successfully withdraw paypal money to your bank account.

I would inform you that life.

okay

Hi life I had now a doubt where to give the purpose code in paypal?

viji,
at the time of withdrawal, they ask you purpose code, then only you can withraw
Whether you tried the withdrawal?
I pasted information/link of purpose code under sunny's box..

Ok life. Not yet tried my withdrawal to the bank account. I have not yet connected it to the paypal account. In the next working day for bank I have to visit bank.

good, any query, you are most welcome and you can write PM for any problem you face, i am here to help you..

Sure I would send mails

okay..

Hi friend,

They will charge you nothing for the discloser, i mean Mentioning purpose code is nothing but informing/telling them the source of our income, you don't have to pay anything for the purpose code.
Alert pay?
I really don't know about alert pay as i am very much happy and satisfied with paypal service and feedback, but i heard the charges are high in alter pay.

About Paypal charges:
Free for Rs.7,000.00 INR or more, Rs.50.00 INR for Rs.6,999.99 INR or less to bank accounts in India

Thanks for the prompt reply friend. I know they will not charge for pupose code. But how much will they charge for receiving money to our account? Anyway your reply convinced me that I will stay back with paypal. Can you clarify about receiving amount to my pay pal account like receiving from mylot to my account or neobux to my account etc.? Sorry for the trouble.

About Paypal charges:
Free for Rs.7,000.00 INR or more, Rs.50.00 INR for Rs.6,999.99 INR or less to bank accounts in India

hi i mentioned above like if your earning dollar to rupee when converted as per dollar rate on that day to Indian currency, if less than 7000 then you have to pay Rs.50 charge, if higher means amount of withdrawal is 7000 or more no charges..

Like example:
when you get money from mylot to your paypal, no charges.
and when from paypal you transfer to your bank, if less than 7000 you pay Rs. 50.

Hi friend,

I really don't know about your source of income, so how do i provide you the code for that.
I Provided link with this discussion, do visit the link, and if still you are not sure about code suitable to your earnings, then you can contact paypal customer care.

But for mylot earnings you can use P0805 code..

Hi sree,

yes, even i am expecting my earning from mylot, as i changed to $25, when this issue started, so right now nothing in my paypal account, even when i get the payment i do try and see the outcome..

either wise, i would have be the first person to check,as green signal to withdrawal, because most of people don't read and believe in rumors, so it affect all without any reason..

Life, There is no problem to get money from mylot. I have received the same in last month (January payment in February) and got money from neobux too. Our problem is we can't do personal payment or withdraw money to bank.

yes, right, i came to know after words, before i changed, and now i am not able to change to $10, i send the email to Paypal admin, hoping favorable feedback on this, so that i get the payout this month..

By the way,do we fall under freelance journalist with what we are doing at mylot.

Hi ganesh,

Yes it think we fall under P0805 code, even they also mentioned if not sure we can contact paypal customer care about purpose code.

I am eagerly waiting to do the transfer, but i am expecting earning from mylot, i feel now we don't face any problem as they declared in the official blog.

Ganesh,

Do you know they rectified the mistake of IEC code as when they come up with purpose code, it means we all can do the transfer, only to mention purpose code at the time of withdrawal.

oh yes!I have sent an email to paypal about this and let us wait to know how they approve the said code,p0805.

yes, P0805 is prefect and you said they also verified, and it also means we all can do the transfer.
and Personal payments that are different.
Like example:
If i do transfer from paypal to any friend, or any friend from other country transfer to my paypal account then that is considered as Personal Payments..

life8118!I got reply from paypal and they say we can use the p0805 code for journalism to withdraw what we earn from ptc sites and mylot.So,I had placed a withdrawal just now and let me update after I receive the money to my bank account.

good,, please do revert back after you get the money in your bank account, as this will give confidence to many..

srganesh ! What do you think I should do?-- Should I change mylot to 25 dollars instead of 10?I have a small sum of 2 dollars in AC too.I have not confirmed this lest it should unnecessarily get reversed .

hi Kalav,

about changing payment preference in mylot, that option not working as i earlier changed to $25, but now not able to change to $10.

But did you punch the Update button?Does it not go through despite this?

yes, i did the way, and i got the result that updated, i am checking again now,hope so, problem get solved.

life8118!I just checked my bank account and yes,I got my money from paypal credited.I am glad to update the details in this post.

thanks ganesh, for dropping comments at box no 15, because i guess many waited eagerly update from yourside, this is really great and good update for all Indians

the pleasure is mine!

woww... thanks for updating... and congrats for your money.. finally paypal solve this

thanks friend indeed very good news.
The purpose of this discussion to solve all the doubts related to Purpose code and various updates.

My exact sentiments..

thanks zed

I hope you got it all figured out and found out what you need to do to recieve your money.

thanks friend.

Hi sunny,

Yes, very good nice.
P0805 is correct code for mylot transfer, for PTC sites i guess it is same, but you can verify that by sending email to paypal asking for the correct code, as they mentioned very clearly, if you have any doubt, you can contact paypal customer care..

Hi sunny,

Yes, very good nice.
P0805 is correct code for mylot transfer, for PTC sites i guess it is same, but you can verify that by sending email to paypal asking for the correct code, as they mentioned very clearly, if you have any doubt, you can contact paypal customer care..

where did you get that code from life---i didnt see any such ones in the link you provided

they mentioned click to know purpose code, no issue, this is the link..

https://www.paypal.com/in/cgi-bin...

sorry wrong link:

this is correct, with purpose codes.
https://www.thepaypalblog.com/201...

okies i didnt see this post life ---i get a clear idea now

even mentioned the purpose will make it convert to code. good..

Please note:

The selected purpose will appear as a code on your bank account statement along with the description.
If you have any additional questions related to the Purpose Code on your account statement, please check with your bank for help on this.

yeah i have read that life---this makes things comfortable

, yes even i am waiting to get money in paypal so that i can try with new method/after this update.

Hi zed,

thanks zed, yes this information is very bright and good, and it is one of the motivational factor for many.

I agree with you totally..

haha, very good vandy.
Even ganesh (one friend from india) mentioned in my discussion as he put the request for withdrawal in the paypal account and he will revert back to us when he get the money..
I don't try because i don't have money in paypal account, i am expecting payout from mylot as i changed my payout to $25, when paypal issue started.