I hope most of the Bloggers and other people who are doing online business using Paypal for payment option. First Paypal said withdraw will take some time to reach into your back account then they came up with one more blunder start reversing Payment, all payment for services get reversed.
We written a post about it and you can see it here :- Payapl Issue With Indian Users
Now Paypal Came up with another crap thing, they deposited all Funds back to Paypal which we have withdrawn from Paypal but the conversion rate they used is way higher then normal and more then 5% money cut.
See the Screenshot you more details about Conversion Charges took by Paypal
This is Screen shot of one of my Friend harsh Paypal Account, he made around 1050$ fund withdraw and received 965$ only.
Alternatives for Paypal for Indian users
I am not sure how much time paypal will take so solve this issue so everyone who is doing online business and used to transfer foreign currency transfer normally need to find alternatives for Paypal. Here I am providing you few good alternative which you can use for Online Money Transfer if you are quiting Paypal.
1 Xoom as Alternative for Paypal for Online Money Transfer
Xoom is widely used Payment option worldwide and a trusted company. Good Thing is this conversion rate of Xoom is better then paypal and they deposit money directly to your bank account. Bad Point there is withdraw fee in Xoom but its very good if you making bigger transactions.
Wesbite :- www.xoom.com
2 Moneybookers as Alternative for Paypal for Online Money Transfer
Moneybookers is also one worldwide used alternative and you can withdraw money directly to bank, they have better conversation rates and I could not find any negative point with moneybookers. Infect, I am also using Moneybookers as payment alternative. They also charge some money for withdraw but thats still less then xoom and due to better conversion rate better then paypal too.
2CO (2checkout.com) and Alertpay (altertpay.com) are also good Payment Alternative for Paypal for Online Money Transfer but by alertpay dont pay direct money on bank Account so you have to ask for check from Alertpay and it will take 1 Week time. 1 more thing is that Foreign Currency check will take 21 days time to get clear and show in your account.
I hope i gave you enough alternatives for Paypal. Just google more and find use the best alternative. I will prefer Moneybookers for this as I am using it and they pay direct on bank also their conversion rate is good.
I just received mail from guru.com a very big freelancing site their advicery to not use paypal till further ntice
Freelancers in India are advised to avoid use of PayPal until further notice.
Related posts:
- Paypal Issues with Indian Users : Cant Withdraw & Money Returns To buyer
- Indianbank Recruitment 2010 – Indian Bank Online Application Form Available
- Punjab National Bank (PNB) New Recruitment for 2010
- OBC – Oriental Bank of Commerce Recruitment 2010-New Opening
- New Base Rates announced By SBI, ICICI, HDFC & other bank
{ 12 comments… read them below or add one }
I just registered for MoneyBookers. I have an SBI account in a branch where there is no SWIFT code. A nearby branch has the SWIFT facility. Must I enter that SWIFT code? Which bank is easier for MoneyBookers? I ask this because I don’t mind opening a new bank account.
Thanks for the info dude. Every indian webmaster is facing the same trouble. Our future is in gloom without paypal. all others are expensive
what are the charges for foreign cheque clearance dude. Kindly enlighten . Cant find anything like notify comment in ur blog
No Such Charge for Foreign Check Clearance by Indian Banks, However Paypal Is charging 5$ per check ..Not very sure. about exact charge of PP for issuing check.
AlertPay also added the option to withdraw money directly onto your Visa/MasterCard. It takes less than a week for the money to show up on your card. You just lose on the currency conversion a bit. It’s much better than withdrawing by check
Visa/Master Card –Credit or Debit?
I dont think you can withdraw money to bank via alertpay
Nice Professionalism by Paypal got the Currency Conversion fee cut back in m Both Paypal Accounts.
Credit cards and debit cards. As long as its a Visa or a MasterCard. I got mine in 3 business days.
Thats great, I have not tried this yet, I heard they dont have any Direct bank Transfer facility in India, If yes, then its well and good.
Has the PAYPAL withdrawal issue been resolved? Anyone received their payments in their bank accounts lately? Been trawling thru net to find some news but unlucky till now.
Not yet, they are just saying in will be solved soon,
Just withdraw via Xoom..100% working, I just received money within 48 Hours.
I am not from India, but at this moment i search a alternative to paypal. Because paypal sucks! I have put an credit card to the account but now they would like to see copy from passport and so on. It is really a shame for this payment provider. in the beginning times all works without problems. I am a fan from 2checkout!