PayPal has recently posted this news on their blog, that they will discontinue their electronic withdrawal service in India because of some changes in Indian government’s regulatory instructions. This is not the first time that PayPal has discontinued its work in India due to government regulations. We have witnessed a similar story back in February 2010.
Fortunately, you can still withdraw your money via cheque. But according to PayPal, cheque will take 4 to 6 working days to process (excluding delivery period).
Here are the steps to withdraw your money from PayPal via cheque:
Step 1: Log into your PayPal account, click on ‘Withdraw’.
Step 2: Click on the ‘Request a cheque from PayPal’ link. It usually takes 4 to 6 working days
to process the cheque (excluding delivery).
Step 3: Enter the withdrawal amount and select your mailing address, then click ‘Continue’.
Please note that a monthly withdrawal limit of $2,500 USD applies.
Step 4: Click ‘Submit’ to confirm your request.
These new changes will take place from August 1, 2010. So, you got 2 days to get your money transferred electronically, else you have to go with cheque process. Meanwhile, PayPal is trying to sort out the issue as soon as possible.
Paypal has resumed electronic withdrawal for India – read more at paypalblog
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