Paypal has resumed its service to India Bank Withdrawal requests with a condition to include Export Code while withdrawing funds in your bank. Everyone wants to know what is this Export Code. Is it the Export License that they mean which is provided to exporters.
Well this is not the case. You dont need an export license to withdraw funds if you are a freelancer.
How to Get Export Code ?
For Freelancers and Individual applicants:
- Details of all Proprietor (Full name, Fathers name, Residential address, phone number, email address)
- Details of address of the individual along with following details:
- PAN card of the company/individual
- Type of exporter (Merchant, Service provider, Manufacturer etc.)
- Bank account details of the company/individual
- Bankers certificate (in specified format)
- DD of Rs. 250/- as application fees in favour of JDGFT or DGFT depending on the region in which the registered office is situated.
- An application to the concerned officer (JDGFT/DGFT) and all the papers in Duplicate set.
More Information : http://elagaan.com/ and http://dgft.gov.in/
Here is reply i received from Paypal when i enquired about this Export Code :
Hi
Happy Holi to everybody.
Well i got the answer from Paypal about the export code.
Thank you for reaching out to us. I?m contacting you on behalf of
Farhad Irani regarding your email below.
This code will be issued to you by PayPal. We should be updating you on
this process by 03/03/10. Any India account that is selling a good and
or service will need this code.
We appreciate your patience and understanding regarding this matter, and
wish you continued success on PayPal.
Sincerely,
Alissa
PayPal Customer Solutions
PayPal, an eBay Company
If you are reading this then definitely you are affected with the recent Paypal issue with Indian Users whose Paypal Payments Reversed and they are facing Paypal Bank withdrawal problem.
Well i tell you this is not a Paypal scam as you might be hearing , is is a mere Paypal problem with Indian Bank authorities in Reserve Bank Of India who have denied Paypal from sending in any more foreign money . Paypal needs to change its money transaction policy in order to continue business in India as thousands of Indian Freelancers like me are suffering and cannot withdraw our hard earned money to Indian Banks.
There is is a Solution we came up with , Here Paypal can be used to send in Paper checks instead of direct money deposit in banks electronically.
If it was a week earlier i would have suggested Xoom for all your money transfers but unfortunately, even they have canceled services and are in the process of refunding this transaction identified as Intra-India. Current regulatory restrictions are the reasons for the cancellation.
Paper Checks cost you $5 each paper check that take 7 business days to process and more days to reach Indian Shores. Cant tell you how much time it takes for clearance in Indian Banks.
I sent them this mail to Paypal Head Asia [Mr. Farhad] but never received a reply :
Hi Farhad that is nice to hear from you. According to you the check withdrawal facility is still available i India. Correct me if i am wrong. I dont know about any fees associated with foreign check clearance , so if you can give some information about that.
Also what do you mean by refunding check withdrawal fees ?
thanks !
regards ,
Sourish
If any of my readers have made a check request do share with us.
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If you are here you must be already looking for Rent A Coder Scam and other Rentacoder reviews to lookout if its a rumor that Rent A Coder Fraud is actually a fact. As a freelancer and working in Rentacoder for about an year i can fully explain you how rentacoder works and give away Rent A Coder Payment Proof.
So what exactly is Rent A Coder ?
Is RAC a scam site , does it cheat coders and buyers. You really want to know as eagerly as i did long time back since i earned my first freelance money working 8 hours a day as a freelancer.
Yes its true , Rentacoder really works and its is the among the best freelancing sites around the Globe. Rent a Coder or RAC is one of the best and trusted freelancing job sites on the internet. It is not just for programmers alone, it’s also for those who can provide their work online like web developers , writers etc. But it has some strict policies towards plagiarism and freelance copyrighted work. You may not copy work from elsewhere while working as a part time freelancer in rentacoder for outsourcing work.
If you are a jobless looking for working part time , freelancing can be the best thing you can do , and what better than Rentacoder . I would be discussing more about other freelancing sites and their way of payment in my next posts.
Till then happy freelancing !
Here is a new method for your paypal account verification without using credit card. All you need is a bank account linked with paypal for withdrawal.You can verify your paypal account and lift limits to how much you can send money to your bank per month. Use the lift limits button in the Account summary page , right of total balance. Use verify using bank deposit. Within two three days paypal will send two different deposits in your account . You need to update the exact deposits in the paypal verification page and , bingoo , your limits are raised.
This comes really handy for those facing the trouble with limited functionality accounts in paypal.
