Paypal Stops Electronic Fund Transfers To Indian Users

EDIT: There is an update on this topic. Please read it here.

I got an email from Paypal which implied that with effect from 29 July 2010, Indian users of Paypal would be able to withdraw their funds only via cheque. This done in accordance with regulatory instructions.

Before this you could  request for either an electronic or cheque withdrawal of funds from your PayPal account if you are an India user.

Paypal says it is working  hard to restore the electronic withdrawal service.

Paypal would also  refund the $5 USD cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.

Also there is restriction of $2500 per month.

I remember the time when I had started. Things were almost same at that time too.

Its like going one step backwards.

I hope the issue is resolved soon.

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