What Is The Glitch?
@abhi_bangal (7679)
Ahmednagar, India
August 12, 2010 10:30pm CST
hi
(Especially For Indians Or Those Whose Currency Is Not $$$)
Many of you might have withdrawn funds to you bank accounts. Paypal says that they send two tiny amounts less than $1. My question is - Do we get the money in our own currncy like Rs. etc. or is the money sent in $$ itself?
My second problem is that -
my bank branch where my a/c is, does not have a foreign exchange. But the money is sent to the head branch from where it is converted to Rs. I have not seen any amount for the past 15 days. I contacted Paypal they say the money is sent, my bank says it is still not here. What is the problem?
So, can it happen that I open another bank a/c where there is directly the facility of foreign exchange?
Can I ask paypal to discountine with my current bank account? Can it happen? Does paypal do it?
Plz, help me out, I am suffering a lot due to these glitches and don't know how this all is happening.
2 responses
@elmiko (6630)
• United States
13 Aug 10
you should be able to enter new banking information for another bank you might join with no problem with your paypal account while also deleting the other bank account information. it just may take somes days to get a new bank account approved by the paypal adminstraitor's.
@getbiswa2000 (5544)
• India
13 Aug 10
Hi,
I think the problem is rather simple. Now to start with your first question, yes, they will be deposited in form of Indian currency in your account. Now you need to understand the NEFT system of Indian banks. Here is the details of the system http://www.rbi.org.in/scripts/FAQView.aspx?Id=60 and here is the list of all NEFT enabled branches in India http://www.rbi.org.in/scripts/neft.aspx but Paypal doesn't support all of them. Currently Paypal only supports the following banks,
State Bank of India
Bank of India
Canara Bank
Union Bank of India
HDFC Bank Limited
ICICI Bank
ING VYSYA Bank
UTI Bank
Standard Chartered Bank
HSBC
Citibank
Now you definitely need to open another account because if you don't things are going to be hectic in future. Now before opening the account you have to first check out whether the bank is within the list I've provided here. Next you have to check out from RBI site whether the nearest branch of that bank is NEFT enabled. Open an account only when the result of the above tests are positive. Then ask the bank for the IFSC code, which you are going to verify again from the list given in RBI. IFSC is also given in the check book.
Thanks.
God bless you
