Yet another blow to the Indian users of Paypal! Thousands of freelancers, and small companies that depend on paypal for payments from their clients abroad are in a fix again! Check out this new information from thepaypalblog!
This is the message posted by Dickson Seow of Paypal under the title: Update on PayPal accounts for India users
"In accordance with regulatory instructions, there will be a change in our withdrawal functionality in India starting on August 1, 2010. At present, you can request for either an electronic or cheque withdrawal of funds from your PayPal account. From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.
We sincerely apologize in advance for any inconvenience caused from this change and we are working hard to restore the electronic withdrawal service. In the meantime, we are bringing this matter to your attention so that you can plan your future withdrawal activities accordingly.
Our India users can find the cheque withdrawal process here. In order to help you deal with this change and until further notice, we will refund the US$5 cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.
If you have any questions, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us’ at the bottom of the page.
Again, we apologize for any inconvenience caused from this change in our withdrawal functionality. We will provide ongoing updates to you here. We thank you for your attention and patience as we work tirelessly to resolve this situation as quickly as possible."
original post at: https://www.thepaypalblog.com/
It is sad that the Indian government does this again to its hard working citizens! In spite of so many advancements and vigilance measures to collect taxes, I wonder what else make them such awkward decisions that hinder the in flow of wealth in to the country.