List of Freelancers

Hello Freelancers!

You must be aware of the recent problems in withdrawing money to your bank accounts from Paypal. This is encountered by more than 30000 users of India, according to an article. For business accounts, RBI has allowed Paypal to continue local bank withdrawals for settlements for exports of goods and services.

As part of the changes, you will be required to fill out a new field entitled 'Export Code' when you request a withdrawal. This information is required under the current laws of India in order to identify the nature of cross-border merchant transactions.

However, personal payments to and from India will still remain suspended. RBI has told Paypal that PayPal needs specific approvals to allow personal remittances to India, which they currently do not have.

Let's hope the situation improves fast.

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