From August Indian PayPal users can withdraw only via cheque
PayPal users in India please take a note that from 1st August 2010 if you wish to withdraw funds from your PayPal account you can do so using only the cheque withdrawal method, the electronic withdrawal service (EWS) will be suspended until further notice.
On thepaypalblog.com Dickson Seow has mentioned that from 29 July only cheque methods will be processed. In the meantime PayPal is working to get the EWS functional.
Indian PayPal users might have got an email regarding the same. The changes in the withdrawal services have been brought in notice few days in advance so as PayPal users who wish to withdraw can plan accordingly.
Cheque withdrawal methods are extremely slow and carry a withdrawal fee. However PayPal in its blog have mentioned that the USD 5 towards cheque withdrawal fee for Indian users will be waived off.
There has been a series of problem with PayPal India and all this started with RBI suspending their services.
So from 29 July 2010 onwards, Indian PayPal users will be able to request withdrawal of fund only through cheque with no cheque withdrawal fee levied.
