To all Indians,do we need a verified Paypal account to receive money from myLOT?
By cbeee3
@cbeee3 (2061)
India
June 28, 2009 9:11am CST
Hi.
This question is going out to all Indians.
I have reached my payout and want to know if I NEED to verify my paypal account to receive the payment from myLot.
Another thing I want to know is,the $500 limit of withdrawal mentioned, is a monthly limit.Am I correct? I am asking this as in some previous discussion, about verifying the paypal account people have stated contradictory opinions.
Please let me know if I can transfer the money from my Paypal account to my Bank account directly through paypal Bank Transfer. I have a Bank Account as per the rules stated by Paypal. ( The IFSC code of my Bank is mentioned in the RBI list)
Hope to get some responses. Thanks in advance!
5 responses
@ebook_freak (1511)
• India
28 Jun 09
OF course dear.
I have got a payment proof in my blog. And no probs. Only you won't be able to withdraw it.... and you can't recieve money greater than 1000$ or something. Well, you don't have to worry about that right?
1 person likes this
@ebook_freak (1511)
• India
28 Jun 09
*I wrote this as a continuation to the mail that I posted you in EziHippo. I thought you already knew that I had an UNVERIFIED account*
Pull m.l. fast! Waiting...
1 person likes this
@ebook_freak (1511)
• India
28 Jun 09
You can withdraw, but unless you verify I think we can't. I mean we have to link a credit card to prove our age, etc,etc. And only after verification we can withdraw it. At leat, that's what I think I read two years before, I don't know if I am 100% correct.
@cbeee3 (2061)
• India
28 Jun 09
I remember what you and DJ said, but I had read some discussions here where people said contradictory things. So I wanted to involve more people and see what they had to say.
Hey what do you mean you can't withdraw the money? Then what do you do with the money in your paypal account, if you can't get it out?
Per what is written in paypal, if the IFSC code of a bank is in a list specified by RBI, then the bank transfer can be done online.
@bumba1988 (1220)
• India
28 Jun 09
Hi cbeee3,I am from India but I have not withdrawn any money to my bank account yer from my paypal account.But,I have searched about this thing a lot and they all have told me that we Indians do not need to have a verified paypal account to get the money in our bank accounts.I hope I helped.
@bumba1988 (1220)
• India
28 Jun 09
Hi cbeee3,Here is a user known as vipulchawla who has redeemed the money into his bank account.You can contact him as I believe he can help you a lot on this.Can you help me on one thing?Can you tell me if my HDFC bank account is in the list where the paypal money can be redeemed?
@bumba1988 (1220)
• India
28 Jun 09
Hi cbeee3,thanks for commenting back.Well,thanks for the link.I just hope that my bank is in that list.Currently,I am downloading it.Anyway,let me know for how long you are in this site called mylot?Do you mind if I talk about something other than this discussion topic?We both are from India,we can talk on a lot of things,I guess.Let me know when you receive your payment.
@elshaddai123 (3981)
• Kottayam, India
28 Jun 09
I have got money through ICICI bank by a simple e mail.
@elshaddai123 (3981)
• Kottayam, India
29 Jun 09
you have to register with pay pal with email id and money when they received,they will inform you and then you cansend a email and they will send the same to your bank account.
@jshekhar (1562)
• India
28 Jun 09
Hello friend,
I have not withdrawn money to my bank account till now but even I have searched on the same topic a lot of times and I found out that NO, WE INDIANS DO NOT NEED A VERIFIED PAYPAL ACCOUNT to receive money from mylot.
@John4Christ (1597)
• India
29 Jun 09
Heloo dear,
well I joined mylot 2 months back and I have already got one payment so far from mylot, you DO NOT NEED A VERIFIED PAYPAL ACCOUNT to get paid by mylot, I transferred the amount successfully to my bank later, the time period depends upon your bank, usually paypal says that allow 5-6 business days for the money to be transferred......make sure you put in the right IFSC code along with the right name and details as mentioned in your paypal account........Rs.50 would be deducted from your paypal account if you transfer any amount less that Rs.7000, and yes the $500 limit is monthly and i guess it resets after every successful month......
Congrats on getting paid.........
Hope you had a nice time so far !!!!!
1 person likes this
@John4Christ (1597)
• India
30 Jun 09
Hey i am glad i was of help.........well just one more thing, if for some reason your details don't match with that of the bank account then the amount would return back to your account and also a charge back fee of Rs.250 would be charged so be extra careful while setting up the bank account, cross check 10 times........
1 person likes this
Thank you so so much for the information. This is precisely what I have been waiting to read since the beginning of this discussion. You have answered all my questions.
Thanks again and happy myLotting!