PayPal restores e-withdrawals into Indian banks

PayPal restores e-withdrawals into Indian banksLeading online money transfer company, PayPal has announced that it has resumed its electronic withdrawal services into the Indian banks.

The company had announced earlier that it will stop its electronic withdrawal service to Indian bank account from August 1, 2010. It advised its customers to opt for check withdrawal service and it also offered to refund the processing fee of $5.

The announcement indicates that the company has resolved its differences with the Indian regulatory bodies. PayPal sent emails to its customers in India informing that that can withdraw their money to their bank accounts in the country without any problems.

“We’ve received good news. You can continue to enjoy electronic withdrawals just as you did before,” it said.

The company has decided to provide the $5 processing fee refund for all cheque withdrawals made from July 29, 2010 until further announcement.

“We apologize for the inconvenience this has caused you over the past few days. While we have received your appreciation for the advance notice and the refund of the cheque processing fee, we have also heard loud and clear that you highly value the ease-of-use of our electronic withdrawal service,” read the company blog regarding the issue.