Delay in PayPal Funds Transfer

[cosycom]

Hi friends , Normally all funds withdrawn from Paypal to our bank account are credited within 3 to 5 days .
I have withdrawn some funds on 19th feb 09 . Paypal shows funds already transfered but they are not received in my ICICI account till date . Anybody else also facing same problem ???????

Paypal seem to have an office in India but their address and contact information is not available anywhere .:(

Regards

Narinder

[auctionsjewelry]

Hello,
Check the following link describing the Purpose Codes for export transactions.

http://elagaan.com/business/purpose-codes-export-transactions

Regards,
Ankur

[auctionsjewelry]

Hello,
Another link from RBI website. Just download this PDF file explaining the use of purpose codes

File Title:
NEW PURPOSE CODES FOR REPORTING FOREX TRANSACTIONS
RECEIPT PURPOSES

I hope this will solve some confusion.

Ankur

[auctionsjewelry]

Forgot to put the link

Here it is:
NEW PURPOSE CODES FOR REPORTING FOREX TRANSACTIONS
RECEIPT PURPOSES

http://rbi.org.in/upload/notification/pdfs/52220.pdf

Ankur

[beads4india]

PayPal USD To INR : Exchange Rate:
1 U.S. Dollar = 44.5185 Indian Rupees

Currently Price :
Exchange Rate
USD 1.00 = INR 45.4501 (for Bank Price)

PayPal Suck ... Sucker

[benzasia]

Hello fellow members i have recived the paypal cheque today .
i requested on 14/2/10 my location is jalandhar city it came from sweeden.

[indconcepts]

Hello auctionsjewelry ,

Surprisingly the RBI site description against Purpose Code P0104 states that ....

Receipts against export of goods not covered by the GR/PP/SOFTEX/EC copy of shipping bill etc.

(NOT COVERED BY THE SAID FORMS)

Contrary to what PayPal description says ....

Cross border shipment of goods and services for which you file GR / PP / SOFTEX / EC forms only should be processed with this code. Use P101 if Deutsche Bank is your banker and P0104 if you bank with any other bank .


best regards

Umang Midha

[auctionsjewelry]

Yes, it is confusing.
May be RBI has different rules for Deutsche Bank.

Best regards,
Ankur
AuctionsJewelry

[indconcepts]

Hello auctionsjewelry,

Am talking about Suppose Code P0104 which is for Banks other than Deutsche Bank.

Purpose Code for Deutsche Bank is P0101.

And description under Purpose Code P0104 at RBI site states that it's for Receipts against export of goods not covered by the GR/PP/SOFTEX/EC copy of shipping bill etc. .


best regards

Umang Midha

[muteyaar]

If the RBI states that the purpose code P0104 is for the exports not related to GR/PP/SOFTEX /EC forms, then I think we are free to send small value items just as we usually send through courier. But the main thing is that we will have to keep all the details of payments in our accounts/balancesheet.

what do you think Umang Midha Ji?

Am I right?

let me know please.
*****

[indconcepts]

Hello muteyaar,

I feel this is a mistake at RBI site.

One can expect such mistakes at Government sites but professionals like PayPal can't afford to do such mistakes and create confusion all over. .


best regards

Umang Midha