PayPal Temporarily Withhelds Electronic Money Withdrawal System.

Today morning I was a bit distressed as I read the mail from Paypal. What it states that Paypal will temporarily withdraw the service of online withdrawing of money, service from August 1, 2010 . However the mail didn’t state the detailed reason about why it was done. However to compensate for the electronic transfer facility, they are currently providing the withdrawal payment facility only on cheques. It was also mentioned that they are trying to get the system back on track as soon as possible.

To make a withdrawal through the cheque you will need to follow the below procedures:  

To request for a cheque withdrawal:

  1. Log into your PayPal account, click on ‘Withdraw’.
  2. Click on the ‘Request a cheque from PayPal’ link.
  3. Enter the withdrawal amount and select your mailing address, then click ‘Continue’.
  4. Click ‘Submit’ to confirm your request.

In order to help you with this change and until further notice, PayPal will refund the $5 USD cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards. This is applicable only for PayPal India customers.

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