We just received a email from Xoom, which says that they don’t accept Paypal as a funding source for transfers of money. This means that the Paypal Alternative cannot be used now for withdrawing your Paypal money to your Bank Accounts. Here is the email copy.
We apologize for any inconvenience this may cause you, but would like to remind you that you can still remit money to India by funding your transactions with a United States bank account or a debit or credit card.
We’ve made this difficult decision in light of the Reserve Bank of India’s concerns about PayPal in India.
Your money transfers can still be sent for fast deposit to any Indian bank account, door-to-door delivery, or for cash pickup. Xoom continues to offer very competitive exchange rates.
This means that the Paypal Bank Withdrawal Problem is still going on for Indians.
ooooo what a freak again,,,,anyways,,,still have other options,,,,,xoom is a good service provider,,,,will continue using it,,,,but sir on xoom’s website paypal is still an option,,,,,why they havn’t removed it,..,..,
Is there any other way in India to get paypal money to bank account ???
There is no need to worry now. Paypal is going to Resume Funds Withdrawal to Indian Bank Accounts from March 3rd 2010. No need to try out the alternatives now.
That was another step towards Paypal’s decline in India. They now have to search for an alternative before Paypal totally gets away from here.