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#1 by sonyjmn » Sun Jan 24, 2021 03:23

Has paypal changed fund transfer

Today got mail from paypal stating they have automatically transferred money

Earlier I used to click on funds transfer icon and then to my bank account

Any one is facing same

Got 70.30 as exchange rate for 1 dollar and amount received was 703.39

Please do reply

Thank you
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#2 by Arvind9 » Sun Jan 24, 2021 03:26

Check settings in your PayPal account you must have changed to automatic transfer
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#3 by beafuell » Sun Jan 24, 2021 03:28

You can create a separate balance for each currency. This has the advantage that you can decide for yourself whether and when to convert to your own currency.

That is interesting. In Germany, we don't even have the option to transfer money from private PayPal accounts automatically to the bank account.
Last edited by beafuell » Sun Jan 24, 2021 03:57 » edited 1 time in total
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#4 by sonyjmn » Sun Jan 24, 2021 03:30

I have not changed any settings

As usual I always login to paypal and click on funds transfer

Ok will check

Can settings be changed to again manual transfer as before or automatic is fixed
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#5 by Arvind9 » Sun Jan 24, 2021 03:32

Yes unless the government has changed rules to allow only bank transfer,I have the PayPal application it shows funds received will be auto withdrawn to your bank account
Last edited by Arvind9 » Sun Jan 24, 2021 03:41 » edited 1 time in total
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#6 by sonyjmn » Sun Jan 24, 2021 03:43

May be paypal has changed some rules

Received 703.65

Btw Rbi has said old currency notes of rupees 10 and 100 will not be accepted from march

If you have any old notes exchange now itself later no use

Old 100 rupees note is blue colour and new 100 note is violet color
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#7 by Arvind9 » Sun Jan 24, 2021 04:09

Bank will not accept old Rs10 and 100 but it will still be legal tender you can use it to buy in the market,RBI has stopped printing new Rs2000 notes but it is still legal tender,even my bank has it,it only to curb black money what is already in circulation is still legal,nothing is completely removed,people are only confused the RBI says Rs10 coins are valid but its not excepted why
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#8 by sonyjmn » Sun Jan 24, 2021 04:15

10 rupees coins even i have but no one accepts them

It is better to exchange these coins to notes
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#9 by Arvind9 » Sun Jan 24, 2021 04:18

That is the problem people are confused Rs10 coins are valid some people except it ,even RBI does not know why it not excepted,there are no new Rs10 notes how will people pay if its completely removed especially the poor will find it very difficult so nothing is removed completely
Last edited by Arvind9 » Sun Jan 24, 2021 04:22 » edited 1 time in total
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#10 by sonyjmn » Sun Jan 24, 2021 05:43

In my city no one accepts 10 rupees coins

They say we need notes only not coins

Simply accumulated those coins and now no one accepts
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#11 by suraraj » Sun Jan 24, 2021 05:54

sonyjmn wrote: Has paypal changed fund transfer

Today got mail from paypal stating they have automatically transferred money

Earlier I used to click on funds transfer icon and then to my bank account

Any one is facing same

Got 70.30 as exchange rate for 1 dollar and amount received was 703.39

Please do reply

Thank you

Paypal always transfer the funds for me. I have never transferred by myself. I have not even worried about the funds getting transferred to my bank account.
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#12 by pardeeep143 » Sun Jan 24, 2021 22:26

fund is automatic transfer always for me. i dont need to click transfer button and i dont care transfer button when fund received in paypal account. :mrgreen:
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#13 by uzair_friends » Mon Jan 25, 2021 02:04

sonyjmn wrote: May be paypal has changed some rules

Received 703.65

Btw Rbi has said old currency notes of rupees 10 and 100 will not be accepted from march

If you have any old notes exchange now itself later no use

Old 100 rupees note is blue colour and new 100 note is violet color

This is fake news. Please see clarification by RBI on twitter

twitter.com/RBI/status/1353639983693713408
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#14 by sonyjmn » Mon Jan 25, 2021 03:54

I don't know it is fake

Yesterday in economic times news this was given about notes

I thought here we have some Indian members it might be helpful so posted
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#15 by splat44 » Mon Jan 25, 2021 11:40

Although, I am not from India, in term of auto transfer to bank account, seems to apply to Paypal Business account holders but that is optional.

That news item have to be fake but I would contact Paypal for clarification. Is there setting that allows to auto transfer to bank account in your profile, they would know for sure.

On my account I see no setting on that.

sonyjmn wrote: I don't know it is fake

Yesterday in economic times news this was given about notes

I thought here we have some Indian members it might be helpful so posted
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#16 by Arvind9 » Mon Jan 25, 2021 13:57

PayPal rules depend on a countries government regulations,in India the government allows a payment processor to only transfer amount to a bank account the members post above you that you are answering is talking about two different topics 1)PayPal rules in India 2)Demonatization of currency notes by the federal bank in India that the member read about in the media,nowdays most of the media news is fake or misleading which creates doubts in people's mind and no responsible authority tries to clear things,people live in uncertainty not shure what is true.
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#17 by sonyjmn » Tue Feb 02, 2021 02:29

Any one facing issues with PayPal

Today I received $10 from ysense in PayPal but automatic transfer not happened

The page showed as confirm your bank account first

Paypal will send 2 small deposits to my bank account first but I have not received 2 deposits

Any one facing such issues

Today this issue so how many days need to wait for 2 small deposits from PayPal
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#18 by Arvind9 » Tue Feb 02, 2021 04:05

You clicked something wrong,go to settings click bank accounts and cards you will see the name of your bank and account number click it it will show automatic transfer click and confirm
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#19 by sonyjmn » Tue Feb 02, 2021 04:28

I clicked on bank name it showed as unconfirmed bank

Now 10 is with PayPal
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#20 by celvah2006 » Tue Feb 02, 2021 04:32

i never had any issues with paypal . i verified only once at the beginning... is this the first time you are getting thru paypal?
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