In a move to satisfy regulatory authorities in India following the temporary suspension of PayPal services earlier in the year they have suspended electronic transfers to local banks in India. In a move which harks back to the days before ecommerce existed, from the 1st August Indian PayPal users will have to wait for a paper cheque payment in the post.
PayPal say that they’re working hard to restore (for which read satisfy Indian regulatory authorities) electronic transfers, but in the mean time they will be waiving the $5 cheque withdrawal fees as of 29th July.
I have to say I’m relieved we’re unlikely to have issues like this in the UK. Not only will cheque payments slow down accessing funds but it would also mean the return of trips to the bank to cash them along with the associated clearance time.