question about paypal India !

@maurya83 (923)
India
October 21, 2012 3:15am CST
Hello, I am from India having a verified paypal account. It was not compulsory to verify it earlier but now it is compulsory due to RBI regulations..the problem is- after verifying my account "automatic withdrawal to bank account" has been activated without my permission..whatever fund i receive in my paypal is transferred to bank account within few hrs..Earlier i use that money into online shopping and other activities but not now..:( One of my friends is also facing the same problem..I want to know from other indian paypal users if they have the same problem..and how can i solve this?
3 responses
@sriroshan (2585)
• India
21 Oct 12
Not only you my friend every Indian who is having the Paypal account have to follow all the rules laid by RBI and the regarding the transfer of fund from your Paypal Account to Bank Account in India is the policy Paypal has adopted. I knew before this we can accumulate the amount in our Paypal account and then could do online shopping.
@maurya83 (923)
• India
22 Oct 12
hummm, you mean we have no option..?? :(
@subhojit10 (7378)
• India
21 Oct 12
Thanks a ton for posting this discussion. Well u need not worry regarding this as there is an option where u can change the auto withdrawal option. If u are unable to find such an option then u can go to the Help page and there is an instruction to see where this option is. Of course even i got this thing verified looking at the RBI regulations. What say?
@maurya83 (923)
• India
22 Oct 12
Thankyou subhojit, i will try to find that option.
@owlwings (41899)
• Cambridge, England
21 Oct 12
PayPal have had to implement immediate withdrawal as part of the agreement with RBI. Indians have no option and must accept automatic withdrawal. As a concession, PayPal have waived the charges which would normally apply to withdrawals less than a certain amount.
@maurya83 (923)
• India
22 Oct 12
Thankyou for your response owlwings.