Tag Archives: Paypal

PayPal Bank withdrawals get suspended again for India

PayPal Notice 28072010

Looks like the speculation of PayPal getting banned again for transfer of money to Indian was right. According to the mail we received late night PayPal clearly says that from From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account. The email was sent by PayPal Asia Team ...

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RBI might suspend PayPal Services again

RBI PayPal

According to Jaimon Joseph, IBN Live, the problems with PayPal in India with RBI is not over yet. With all the drama that happened with PayPal users In India in February, PayPal need to answer detailed questionnaire which was sent to PayPal by Reserve Bank of India. Though the issues was temporarily resolved by introduction of Purpose Code last month ...

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PayPal India asks for PAN details

According to latest update we got on comments and confirmed the same, PayPal India asked Indian users to enter PAN or Permanent Account Number details as soon as they Login and it is compulsory. According to the FAQ here : Why do you need a PAN number? PAN number is compulsory for all financial transactions as per Indian laws and ...

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Purpose Code introduced for PayPal Indian Banks Transfer

Looks the problem which was going on in between PayPal and RBI has found a solution now. According to recent post on PayPal Blog,Farhad Irani has  declared and also introduced “Purpose Code”  which will be required when any body wants to make transfer of money from PayPal to Indian Bank account.  Our speculation was pretty much right about RBI fine tuning things. ...

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