Received New Email From Paypal Regarding Withdrawals

[asiatic_in1]

I have recd foll mail from paypal. When i request for withdrawals i am asked " purpose of withdrawl". Since i am selling indian used stamps to worldwide collectors what purpose do i state? i am just a small collector selling my excess stamps & not an exporter. HELP!

"In compliance with Indian regulations, if you are selling products and services to customers globally, please review the following important information:

• Any proceeds or earnings received into your PayPal account from the export of goods and services should be withdrawn to your bank account within 30 days.

• While making the withdrawal please make sure you select the purpose code that best fits your business.

• Any proceeds or earnings received into your PayPal account from the export of goods and services may only be withdrawn to your bank account in India. This received amount cannot be reused for making purchases.

• If you would like to make purchases on any website that accepts PayPal, you can continue to use any credit card issued by a bank in India.

For any questions, please reach out to our customer support teams by following the steps below:

1. Log into your PayPal account

2. Click “Contact Us” at the bottom of the page

3. Click on “Send Us” an email or “Call Us” to reach us by phone


We cannot thank you enough for your continued attention and patience.



Thank you,

PayPal"

[asiatic_in1]

i am quite amazed that why is nobody from ebay india clarifying this post/ what action they are taking or does their silence mean they are helpless in this matter!

[everything4u84]

Hello,
Can any one Please confirm weather payment withdraw from Paypal after 10th April 2010 Shows Complete status?
Regards,
Priya.

[gosubmit]

i have got news that people withdrawn on 10th have already got funds in their bank account.

[isis_19]

Hello everyone,

I had made a withdrawal on 07th April 2010 and yet the paypal status shows a Pending, I contacted paypal through email and they said that

"Thank you for contacting PayPal.

Hi, I hope you are doing great today. My name is Catherine, and it is my
pleasure to assist you regarding your withdrawal.

Electronic transfers to your bank account usually take 5-7 business days to process. Holidays and weekends are not recognized as business days for most banking facilities, which may result in a delay in your banking
transactions."

Can any one let us know what's happening again with us?when should we expect our withdrawal in our bank account in INDIA,

Thanks

[highskyindia]

Still Pending 😞

[amitava123gems]

Hi,
Just to update::
My withdrawal of 9th is pending but that of 10th is complete.
I am still of the opinion that we should be allowed to keep money in PayPal for 60 days,to build up clean transferable balance of accumulated amount Rs.7000+ .
Indian officials are brainless dictators. PayPal had always been a sensible friend.
If the situation is not congenial, it is not possible to do serious business.
Thanx,
Truly,
Amitava

[real.phoenix]

My withdrawal of 7th April is completed on PayPal site but no funds in my bank account yet. The withdrawal cycle has become very erratic after the Feb issue of PayPal with RBI.

[isis_19]

Still Pending:-(

[everything4u84]

Hello,
Just a small update to all Sellers I contacted Paypal today morning and i got a news that the transfer which I did on 7th April 2010 was showing pending due to no purpose code selected I think their was some error with paypal system on that day as the funds I transferred on 12th April shows completed mostly it will hit my bank account tomorrow.
The work around for the pending transaction is to call respective bank and ask them if we have updated the purpose code or not if it is not updated give them the purpose of money transfer and they update manually if they dont do it call paypal and ask them to cancel the transfer and return money back to your account.
I think so its right because the funds I transfer on 12/April/2010 shows completed.
Just let us know if any completed transaction after 10th got money in their bank account??
Regards,
Priya.

[everything4u84]

Hello,
As far as I know transaction done till 10th April 2010 all are still pending, however as I did one transfer on 12th April 2010 shows completed I am waiting now for money to get transfer in my bank account as today is holiday.
However my 8th April 2010 Transaction still showing pending May be because of some problem with paypal as they usual habit they dont like sellers to know about the ongoing issue and they want us to hunt it down like doing a treasure hunt, this is typical paypal not better may be worse them municipal office.
I even did some RND on this issue on Google where I found transaction after 10th April got their money in Bank account as usual lets hope for best.
One work around it call paypal and ask them to cancel the transaction which is still showing pending I said called dont email as I am still waiting for their reply even after 7 days (As I said worse them municipal).
Please update if any one receive money in their bank account.
Regards,
Priya.