Friday, February 12, 2010

Paypal stops personal payments to and from India

Hello readers,

Freelancers from India had been undergoing a mental stress throughout last week. Every time they receive a payment it got reversed in a day or two to the sender. Although it had happened once earlier, this time it was a real problem with RBI involved in it. RBI says that it is a step to curb money laundering! I wonder if there is any association for freelancers in India to represent their grievances to the Govt. of India

This is what Mr. Anju from paypal has posted in paypal’s official blog!

“Hi blog readers, it’s Anuj from the communications team here.

I’m writing to let you know that personal payments to and from India and transfers to local banks in India have been suspended while we work with our business partners and other stakeholders to address questions they have about the service.

During this time, customers can still make commercial payments to India but merchants cannot withdraw funds in Rupees to local Indian banks.

We’re trying to resolve the situation as quickly as possible and we’re really sorry for the inconvenience that this may cause our customers in India and around the world.”

I ll be posting recent updates on the in this blog. Do visit the blog to be informed and to find other ways of transferring your paypal balance into Indian rupees!

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