We received a very important email today from Carolyn, our account rep at PayPal with some information that we are passing along. Due to Indian regulatory restrictions, PayPal will not be able to allow electronic withdrawl after July 29th. See below for full information, and continue reading below for a helpful workaround to this issue from Payoneer.
------------------------
Hello Zoe,
Good morning.
I wanted to make sure you aware of a notification that was sent yesterday to customer’s in India. I have included the notification below.
In accordance with regulatory instructions, we would like to notify you about 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 if you are an India user.
From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.
While 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.
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, we will refund the $5 USD cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.
For any questions, please log into your PayPal account and click 'Contact Us' at the bottom of the page.
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.
Please let me know if you have any questions regarding this change.
Sincerely,
Carolyn Anderson / Merchant Account Manager
direct 866-923-3778 / cell 402.960.9871
fax 303.395.2821
office hours 7:30 AM - 4:00 PM CST Monday - Friday
--------------
However there is some positive news as well. We worked with Payoneer in an effort to help our Indian workers access their earnings as quickly and smoothly as possible.
Payoneer is presenting a special offer to all vWorker Indian providers:
Sign up for a Vworker debit MasterCard by August 31st and Payoneer will expedite your card shipment at no cost. This will allow you to have your card in hand within two weeks from card approval.
The Payoneer card offers some unique benefits:
• Accepted at all MasterCard points of sale, ATMs and online
• Access to your money within two hours
• Offers maximum flexibility and liquidity
• Funds are MC secured against unauthorized transactions and FDIC insured
• Does not require bank account, or any credit checks
To signup, go to vWorker.com, click on 'my account', 'my registration setting', 'my pay options' and choose Payoneer, and then follow the prompts. Make sure to do so as soon as possible as it takes time for the card to be mailed to you.
If you have any questions about Payoneer, you can contact them at: http://www.payoneer.com/contactUs.aspx
If you have any questionst about PayPal, you can contact them at: https://www.paypal.com/us/cgi-bin/helpscr?cmd=_help&t=escalateTab
Ian Ippolito
CEO vWorker.com
Update August 5th 2010:
Great news: I received this from PayPal.
Hi Ian,
Good morning.
I have received an update regarding withdrawals to India. At this time, PayPal has been given approval by regulators to continue transfers to banks in India. We will continue to work to ensure that this functionality continues. However, as we have seen in the past, this could change at anytime depending on decisions made by the regulators. We will provide as much notice as possible if this situation arises. However, at this time, we do not have plans to remove the ability for Indian customer to transfer funds to their bank account.
I wish I could provide you with a more definitive answer, but this appears to be the best we can hope for at this time.
Please let me know if you have any questions.
Sincerely,
Carolyn Anderson / PayPal Merchant Account Manager
42 comments:
Is Payoneer charges any monthly fee or Transaction fee ?
I mailed RBI, i hope they will do something.
I am really very surprised over Indian RBI. Why they are doing so ?
No other country has any problem with PayPal, why Indian RBI has ??
Sam,
My apologies for the confusion. That was a typo (which has been fixed). Yes this applies to all vWorker.com Indian workers.
Ian
I checked Payoneer Fees, Its really cost more than PayPal.
Vworker, Plz do something for saving Fees .
Dolarpond,
Unfortunately I can't speculate on why or why not these regulations are occuring...I only know that they have occurred.
Yes Payoneer does charge fees for the convenience of getting your money instantly on a debit card. See the details on the vWorker.com site when you choose "payoneer" your contract, or you can see them at Payoneer.com.
Ian
Hello Ian,
Its really ridiculous, why indian RBI doing so ? If they wanna stop corrption, then they should contact SWISS Bank, There are Trillions Dollars of Indian Money !!
We are worker, We do hard work & earn. We are not doing any corruption.
Ian, plz do something for lowering the Payoneer Fees. I just register myself there.
Dolarpond,
>>Its really ridiculous, why indian RBI doing so ? If they wanna stop corrption, then they should contact SWISS Bank, There are Trillions Dollars of Indian Money !!
It is very hard to say what the intent is, and I wish I could tell you it was for a good reason, but honestly I really don't know.
>>We are worker, We do hard work & earn. We are not doing any corruption.
Yes, true.
>>Ian, plz do something for lowering the Payoneer Fees. I just register myself there.
See the blog posting, Payoneer is doing a special offer for Indian workers. However, also keep in mind that we don't take a percentage of Payoneeer's fee...they are a 3rd party that fully controls the price. Plus the Payoneer card is much more convenient and fast that PayPal, and it costs them more money to run than PayPal, so it is going to be more expensive in some situations.
Ian
IAN when you r going to add money booker its too much late you was talk with moneybookers but no update you was told on facebook
and your site speed is down what is the prob thanks
Kambohg,
>>IAN when you r going to add money booker its too much late you was talk with moneybookers but no update you was told on facebook
This was discussed in great detail in the other blog entry. Moneybookers prohibits sending from the United States (where we are) to many countries and it is also very expensive (considering it doesn't offer a debit card...just money transfer). It also has numerous other problems such as not be willing to respond to our questions and not having a human to talk to on the phone.
>>and your site speed is down what is the prob thanks
I am going to the site right now and it is the normal speed. There may be a router down in between you and us...if it's still happening, please contact support and they can help you diagose the problem.
Ian
Ian,
There is any chance to integrate "Alertpay" into Rac as a Payment Option ?
Joe
Hello Ian,
How many days will it normally take for the cheque to come at the workers address ??
Regards
Smita
Message from PayPal reads:
-------------------------
Dear ,
We've received good news. You can continue to enjoy electronic withdrawals just as you did before.
While we have received your appreciation for the advanced notice and the refund of the cheque processing fee, we also have heard loud and clear that you highly value the ease-of-use of our electronic withdrawal service. Our customers are our number one priority and we are working tirelessly to improve our service.
Thank you for your patience and in appreciation for your continued support, we will still provide the $5 USD processing fee refund for any cheque withdrawals made from July 29, 2010 until further notice.
For any enquiries, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us' at the bottom of the page.
Thank you,
The PayPal Asia Team
--------------------
Hope this is a great news and a reliable one.
Thanks
-Srini
www.SEOFastGuide.com
http://www.paypal.co.in/in
http://www.paypal-apac.com/india/
Hope that helps you out
Thanks
-Srini
www.SEOFastGuide.com
Great News it that Paypal have re-allowed electronic withdraw in India.
yes, they started the wire transfer again, but I feel the exchange rate has decreased.
$1= Rs44.5
while in actual it's 46.3
Srini,
Thanks for the email and the links:
>>
http://www.paypal.co.in/in
http://www.paypal-apac.com/india/
However, are you 100% sure this isn't a phising site (and the email you got wasn't a phishing email)? It could be real. It also could be fake, because it is also a little suspicious that every page on: http://www.paypal.co.in/ goes to www.paypal.com except that one page that gives the India information.
Let me check with our PayPal rep. Carolyn, to find out for sure...she will tell us for sure.
Ian
Hi Ian,
What you said is true. But before posting the comments, I have checked out the website's WHOIS data from domaintools.com and found that the address/organization/NameServers related to PayPal(eBay). But as you said, still it needs an official confirmation however technically seems to be OK.
Thanks
-Srini
www.SEOFastGuide.com
Hi
You may also go through similar news published in online newspapers:
http://www.katonda.com/news/31/2010/1570
http://ic-technews.com/internet/239-paypal-electronic-withdrawal-is-back-for-indian-users
http://trak.in/tags/business/2010/07/30/paypal-electronic-funds-withdrawal-service-resumes-india/
All these seems to be true, however to be 100% correct, still I suggest an official confirmation.
Thanks & Best Wishes
-Srini
www.SEOFastGuide.com
Srini
Thanks very much for sharing the additional information and also for origianlly bringing the initial information about this latest development to our attention. Thanks for being our eyes and ears.
If I were to conjecture, I would say that it does apepar that you are right...and if that's true it would be a very good thing.
But to be 100% sure, we will until tomorrow when Carolyn replies back, before announcing it offically here.
Thanks again for your help.
Ian
The issue with paypal(india) is solved and now all the electronic transaction is working as its before
Enjoy Indian Workers!!!
www.narenbambhaniya.info
as per latest information by paypal"Electronic Withdrawl Service Continues India". Please refer paypal.com for further details.
Its a Great News, Cheers all ...
www.airzoom.vkscientific.com
hi,
i have also received back on 28july regarding stopping of electronic funds transfer at paypal, but on 1st august, i got its right back and working for both electronic and the check withdraw methods,,
very happy news
Hi Ian,
I might have missed this but will the payoneer card be available in INR or Indian Rupees?
Please advise.
Kind regards
Hi
Payoneer Card available in $ only. It will reflect in your Payoneer balance amount in USD after all deductions. From this balance amount you need to deduct close to $5 ($3 for monthly maintenance if you have an active account + $2 ATM transaction fees approximate contact your bank for ATM withdrawal fees) and then withdraw from any nearby ATM. Suppose you have $100 balance amount after all deductions, assuming 1$ = Rs46, you can withdraw (100-5)*46 = Rs. 4300(nearest to lower hundreds) for without any overdrawn amounts. Some Math involved here to avoid negative balances!
But with PayPal, the advantage is no monthly fees, direct credit to your account in INR and seems relatively faster sometimes by 3 days, with draw from your own bank ATM with no withdrawal fees -subject to Bank policy, please contact your bank. The choice is yours anyway.
Best Wishes
-Srini
www.SEOFastGuide.com
Hi Ian,
I think the RBI issue with paypal is solved now and I just got this message from paypal saying that we can now continue with electronic withdrawals.
"
Dear Jimmy,
We've received good news. You can continue to enjoy electronic withdrawals just as you did before.
While we have received your appreciation for the advanced notice and the refund of the cheque processing fee, we also have heard loud and clear that you highly value the ease-of-use of our electronic withdrawal service. Our customers are our number one priority and we are working tirelessly to improve our service.
Thank you for your patience and in appreciation for your continued support, we will still provide the $5 USD processing fee refund for any cheque withdrawals made from July 29, 2010 until further notice.
For any enquiries, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us' at the bottom of the page.
Thank you,
The PayPal Asia Team"
------------------------------------
Thanks
Vworkerblog
www.Vworkerblog.com
Folks,
I just called paypal and spoke to them about the paypal electronic fund transfer confusion for Indian account holders and they confirmed about elec. fund transfer that now it will same as before.
Its really a good news for all Indian customers/workers
Thanks
Vworkerblog
www.vworkerblog.com
Thanks
Hi Ian,
The Payoneer Support is dead. They don't reply to any mail at all(I have sent a mail est. 3 months ago, no reply yet)!!
How can we trust such a company with monetary issues, what if their is problem concerning transactions or card lost? See their forum, how many people complaining, but no response.
I request you to contact them please and tell them to provide support at least to vWorkers. Else we have no mean to withdraw money from vWorker, from Bangladesh.
Muhammad,
>>Hi Ian, The Payoneer Support is dead. They don't reply to any mail at all(I have sent a mail est. 3 months ago, no reply yet)!!
How can we trust such a company with monetary issues, what if their is problem concerning transactions or card lost? See their forum, how many people complaining, but no response. I request you to contact them please and tell them to provide support at least to vWorkers. Else we have no mean to withdraw money from vWorker, from Bangladesh.
My apologies for the frustration they are causing you. Can you email me at support at vworker.com with your email address and the original email. I'll send this to Sivan who is our account rep at Payoneer and she will handle it ASAP.
Ian
1)
All,
On Monday Carolyn from Paypal U.S. replied and said she will have an official response on this from PayPal soon. I just sent a followup email. My apologies for the delay in this, but the speed of the response is out of our hands and in PayPal's. I'll let you know as soon as I have an official response.
Ian
Ian,
I too have had a poor level of response from Payoneer. Not impressed at all. They appear to be less than attentive.
Andrew,
My apologies for the inconvenience, even if our control on a 3rd party is limited. Please send your vWorker email address, your issue, and what you've done so far to support (at) vworker.com and we will forward it to Sivan, our account rep at Payoneer.
Ian
PayPal release their payment for Indian worker again after 31st July,2010.They also send this sort of mail to the every user who are associated with the PayPal.
So now there is no problem with PayPal in India.
hifiid,
The problem is that the email that was sent out says that electronic payments have been restored after being cut off. It doesn't say that PayPal has reversed it's earlier policy of having to soon cut off electronic payments...it doens't address it at all. Carolyn at PayPal asked for another day to get back to us on this. I'm out of the office tomorrow, so I'll let everyone know what she said.
Ian
Great news: I received this from PayPal a few moments ago, which confirms what others have posted her and elsewhere as well.
Ian
----------------
Hi Ian,
Good morning.
I have received an update regarding withdrawals to India. At this time, PayPal has been given approval by regulators to continue transfers to banks in India. We will continue to work to ensure that this functionality continues. However, as we have seen in the past, this could change at anytime depending on decisions made by the regulators. We will provide as much notice as possible if this situation arises. However, at this time, we do not have plans to remove the ability for Indian customer to transfer funds to their bank account.
I wish I could provide you with a more definitive answer, but this appears to be the best we can hope for at this time.
Please let me know if you have any questions.
Sincerely,
Carolyn Anderson / PayPal Merchant Account Manager
Ian, is it on for Pakistani's?
Hi Ian,
"My apologies for the frustration they are causing you. Can you email me at support at vworker.com with your email address and the original email. I'll send this to Sivan who is our account rep at Payoneer and she will handle it ASAP."
Thanks. I am really happy with your dedication, thats how a company should be and thats why I love vWorker. Payoneer should learn from you.
My issue was about a registration problem which I had solved and I wanted know that do they send card in priority mail, because general mail creates problem to reach me. But after waiting many days I ordered the card in general mail and fortunately received.
If I face any issue in loading and withdrawing money I will contact them in the way you described.
Thanks.
Тдѕнƒєєи Днмє๔ ,
>>Ian, is it on for Pakistani's?
I'm not sure if "it" refers to PayPal or Payoneer. However there has been no change with Pakistan (see the previous blog posting for specific information on Pakistan and Payoneer).
Ian
Usman,
>>Thanks. I am really happy with your dedication, thats how a company should be and thats why I love vWorker.
Thank you very much.
>>Payoneer should learn from you. My issue was about a registration problem which I had solved and I wanted know that do they send card in priority mail, because general mail creates problem to reach me. But after waiting many days I ordered the card in general mail and fortunately received. If I face any issue in loading and withdrawing money I will contact them in the way you described.
Okay, I'm glad its resolved. Yes if you continue to have issues and can't get an answer from Payoneer in a timely basis, please do let me know (as described earlier).
Ian
Hi Ian,
I see you are an employee of vworker and help answer questions of the people. My question may not be related to this post.
Actually I am from Pakistan, I want to know can I use priority mail to draw money?
A few days back that option was available to me in my account but now it is not.
How can I change to priority mail?
Ali,
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