3 ms·

PayPal Blocks Electronic Fund Withdrawal For Indian Users

15 points by twapi 16y ago

kranner 16y ago
They do say they are working to restore it in the long term, but it's not clear if it's a technical or a regulatory issue.
- parallax7d 16y ago
  "In accordance with regulatory instructions" has the overtone of a regulatory issue, but their little communique fails to elaborate properly, thus I assume paypal messed up somehow. It does reiterate several times how sorry they are. They are so sorry. So so very sorry.
bcl 16y ago
I thought blinking text went out with MySpace... As for the info, it sounds like it isn't PayPal but the Indian Government that is the problem here.
_delirium 16y ago
Here's PayPal's announcement about it: https://www.thepaypalblog.com/2010/07/update-on-paypal-accounts-for-india-users/ https://www.thepaypalblog.com/2010/07/update-on-paypal-accou...
jacquesm 16y ago
Note that this only affects electronic withdrawals, check withdrawals are still possible and paypal will actually cover the $5 processing fee.
- kranner 16y ago
  Yes but as an Indian user my immediate worry is whether they will send the cheque by Government post. If they do, it is likely that many cheques will be delivered late or never. This adds a massive layer of unreliability for us in India.
  - jacquesm 16y ago
    That seriously sucks. How about teaming up with people in other countries to receive the funds and send them to you via western union or so ?
    - kranner 16y ago
      Yes that could work as a last resort. Western Union and other money transfer services are widespread here because expats send back a lot of remittances to their relatives, etc. Two nuisances: 1. Higher fees, possibly. 2. Hassles with the income tax authorities: people might be asked to produce a signed letter from their foreign friend for every deposit.
  - mailanay 16y ago
    I don't know where you stay in India, but here in Pune (Maharashtra) the Government post is quite reliable
    - kranner 16y ago
      Patiala (Punjab). It's never been reliable here. Even Speedpost (Government-run express mail) commonly arrives a few weeks late.

15 points by twapi 16y ago

They do say they are working to restore it in the long term, but it's not clear if it's a technical or a regulatory issue.

parallax7d 16y ago
"In accordance with regulatory instructions" has the overtone of a regulatory issue, but their little communique fails to elaborate properly, thus I assume paypal messed up somehow. It does reiterate several times how sorry they are. They are so sorry. So so very sorry.

bcl 16y ago

I thought blinking text went out with MySpace... As for the info, it sounds like it isn't PayPal but the Indian Government that is the problem here.

_delirium 16y ago

Here's PayPal's announcement about it: https://www.thepaypalblog.com/2010/07/update-on-paypal-accounts-for-india-users/ https://www.thepaypalblog.com/2010/07/update-on-paypal-accou...

jacquesm 16y ago

Note that this only affects electronic withdrawals, check withdrawals are still possible and paypal will actually cover the $5 processing fee.

kranner 16y ago
Yes but as an Indian user my immediate worry is whether they will send the cheque by Government post. If they do, it is likely that many cheques will be delivered late or never. This adds a massive layer of unreliability for us in India.
- jacquesm 16y ago
  That seriously sucks. How about teaming up with people in other countries to receive the funds and send them to you via western union or so ?
  - kranner 16y ago
    Yes that could work as a last resort. Western Union and other money transfer services are widespread here because expats send back a lot of remittances to their relatives, etc. Two nuisances: 1. Higher fees, possibly. 2. Hassles with the income tax authorities: people might be asked to produce a signed letter from their foreign friend for every deposit.
- mailanay 16y ago
  I don't know where you stay in India, but here in Pune (Maharashtra) the Government post is quite reliable
  - kranner 16y ago
    Patiala (Punjab). It's never been reliable here. Even Speedpost (Government-run express mail) commonly arrives a few weeks late.