PayPal India Farhad Irani Restores Business Bank Withdrawls But Hold On Personal Funds Remain
28 February 2010
EventHorizon1984
Continuing the trend of terse press releases, Farhad Irani “Head of PayPal Asia Pacific” statedFebruary 26th on the PayPal Blog that “bank withdrawals for settlements for exports of goods and services” areanticipated to resume on March 3rd.
The small catch for India businesses is this new PayPal (an eBay company) requirement: “you will be required to fill out a new field entitled ‘Export Code’ when you request a withdrawal“.
Predictably PayPal provided no details on getting an “Export Code”, but Farhad Irani promises that on March 1st hewill “be back in touch with specific instructions on how you can move your money into your bank account“
An India business can wait and see what gems Farhad Irani releases from the PayPal vaults, or perhaps they couldtake the time to read the PluGGd.IN article PayPal Resumes Local Withdrawls to Indian Banks, Here is how to get Export Code, and find the section titled “How do I obtain IE Code or FIRC?”. Or see the Techie Buzz article Import Export Code (IEC) For PayPal India Payment Withdrawals and view the “Useful Links” section.
At this point one should wonder what PayPal has NOT said about this self-inflicted problem.
Consider the spin released by individuals with no stated relationship to PayPal that ‘only personal accounts wereaffected’ beginning 27 January 2010. And quotes from terse PayPal Blog public relations releases.
Interesting how according to PayPal, business affected went from essentially none to thousands.
Should be very interesting to see what gets extracted from PayPal in the months to come.
Meanwhile we’ll leave you with these gems from enthusiastic India PayPal blogger Amit Sinha of Little About:
- “resumption of service of PayPal, acclaimed e-commerce business allowing payments and money transfers tobe made through the Internet and one of the greatest means of communications of Indians overseas.”
- “millions of Indians have had a sigh of relief“
“Millions”??
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Apologies for the “transaction” typo in previous articles.
See Also
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“I never said it. Honest” … “For a while, out of childish pique, I wouldn’t utter the phrase, even when asked to. But I’vegotten over that. So, for the record, here it goes: ‘Billions and billions.’”
Carl Sagan
//
PayPal India Farhad Irani Restores Business Bank Withdrawls But Hold On Personal Funds Remain
28 February 2010
EventHorizon1984
The small catch for India businesses is this new PayPal (an eBay company) requirement: “you will be required to fill out a new field entitled ‘Export Code’ when you request a withdrawal“.
Predictably PayPal provided no details on getting an “Export Code”, but Farhad Irani promises that on March 1st hewill “be back in touch with specific instructions on how you can move your money into your bank account“
An India business can wait and see what gems Farhad Irani releases from the PayPal vaults, or perhaps they couldtake the time to read the PluGGd.IN article PayPal Resumes Local Withdrawls to Indian Banks, Here is how to get Export Code, and find the section titled “How do I obtain IE Code or FIRC?”. Or see the Techie Buzz article Import Export Code (IEC) For PayPal India Payment Withdrawals and view the “Useful Links” section.
At this point one should wonder what PayPal has NOT said about this self-inflicted problem.
Consider the spin released by individuals with no stated relationship to PayPal that ‘only personal accounts wereaffected’ beginning 27 January 2010. And quotes from terse PayPal Blog public relations releases.
Interesting how according to PayPal, business affected went from essentially none to thousands.
Should be very interesting to see what gets extracted from PayPal in the months to come.
Meanwhile we’ll leave you with these gems from enthusiastic India PayPal blogger Amit Sinha of Little About:
“Millions”??
/*
Apologies for the “transaction” typo in previous articles.
See Also
//
“I never said it. Honest” … “For a while, out of childish pique, I wouldn’t utter the phrase, even when asked to. But I’vegotten over that. So, for the record, here it goes: ‘Billions and billions.’”
Carl Sagan
//