PayPal pulls back the e-withdrawal feature

PayPal pulls back the e-withdrawal featurePayPal has stated of not offering any sort of electronic withdrawal transactions from the company's account.

This seemingly is a decision that has been made soon after the decision that might affect the Indian PayPal users and will be in effect starting August 1.

The only option left with the users is withdrawal from cheque and this decision is taken in lieu of "regulatory instructions" stated by the management.

PayPal also stated that the services being offered is in regard with the coordinated work being done towards restoring electronic withdrawal service.

The site also states how to opt for a cheque withdrawal: involves logging into PayPal account, and selecting 'Withdraw', directs to the 'Request a cheque from PayPal' link, feed in the withdrawal amount and select your mailing address, then click 'Continue' and finally  'Submit' to confirm your request.

PayPal, until now, charged $5 "withdrawal fee" for every cheque withdrawal but now this fee has been taken back effective from July 29.