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Hi friends , Normally all funds withdrawn from Paypal to our bank account are credited within 3 to 5 days .
I have withdrawn some funds on 19th feb 09 .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

[amitava123gems]

Anybody withdrawn money today?

[nsjewelsindia]

paypal not showing any withdrawal icon to indian banks. secondly dont withdraw immediately as paypal opens the withdrawal for india before understanding the full procedure else we/u will get trap with FEMA /RBI.

[amitava123gems]

RBI treating us as smugglers.
I am a collector. My clients include Knights and professors of Cambridge and renowned publishers.
I have a degree in architecture.
I am more respectable than many of those pple at RBI.

[poonamjewels]

hello,

Pl. type the words (RBI export p0104) on Google. click on first link (MS-WORLD FILE) Search p0103 and p0104, there is one difference , in P0103 (it has mentioned , "Advance receipts against export contracts, which will be covered later by GR/PP/SOFTEX/SDF "

and in P0104 it has mention "Receipts against export of goods not covered by the GR/PP/SOFTEX/EC copy of shipping bill etc."

I think there is nothing to worry, to transfer money into bank account (yet bank transfer does not resume).

I want to be sure so Please advice....

Poonam jewels

[real.phoenix]

Great Finding Poonam Jewels!

Kudos!!

[indconcepts]

Hello real.phoenix,

Don't forget that this is a serious matter where RBI has to intervene to stop all the illegal trade involving foreign currency that was going on un-checked.

RBI wants exports guidelines to be followed and money through PayPal be accounted for.

We all are guessing for the last 24 hours and no ebay representative has responded to such an important issue which reflects that they too are not very sure about the prevailing confusion about the Purpose Code.

We must not forget that RBI has clearly allowed PayPal withdrawal against exports covered under GR/PP/SOFTEX/EC copy of shipping bills etc.

There is different scenarios when exports are not covered under GR/PP/SOFTEX ..... like when it's "value payable" .... ie Cash on delivery .... PP Forms are not required.

It won't be a simple case of putting the Purpose Code and withdrawing the PayPal money. .


best regards

Umang Midha

[poonamjewels]

Hello,

see, I really don't know very much about these 'export' things, I just trying to get good solution. I want to clear about CODE P0104 and P0103 (which I mentioned in my last reply). I talked with Navin and he said that there is no issue with all bank withdrawal. Even we can call for Cheque and in that case we not need to select any purpose Code. so I think they just want to be sure that money comes direct into our bank with right purpose, yes we need to do some paper work, like we need to keep the invoice's print out, we should have IEC code ( may be we need in future)

I also want to be sure about these thing's before using any bank Transfer. Please help to find a good solution......

[muteyaar]

paypal bank withdrawal option is still not there as on 04/03/2010.

what about their promise of starting the services on 3rd?

[real.phoenix]

We all need to co-operate with each other and ensure that we follow all the correct procedures for doing business. Whether it is a post-card or a diamond, every thing should be dealt with all the proper documentation.

Remember a few years ago when all the builders were trapped by FERA? If one eBay seller violates Govt. policies, all the sellers will come under the Govt. scanner. So instead of wasting our time in assuming things or waiting for eBay to educate us, let us educate each other with the correct information. There is no point in blaming Indian Govt. in anything. They are doing the best they can do in the interest of the nation.

I request the big sellers on eBay to contact their lawyers and find a solution to this.

[everything4u84]

Hello,
I just want to say that P0104 it has mention "Receipts against export of goods not covered by the GR/PP/SOFTEX/EC copy of shipping bill etc.
That is really a very good thing for us since some one last time said that what about the items we shipped single like 10 to 20 items a day its difficult to keep record? So this is answer for that question.
As we all seller must be getting bill of our purchases pluse we also get invoice for shipment too thats what is the purpose of mentioning export code P0104.As far as I know all this thing is happen to keep check on all money that is transferred through paypal and does not provide any relevent details we are not smuggler we are seller and we have all details to give so I dont think we need to worry about it so much.
Let me know if I am wrong.
Regards,
Priya.