March 10th in Money & Finance by .

Paypal cheque withdrawal questions for Indians!

Indians who withdraw paypal balance by cheque, usually have number of doubts and typically everywhere the same questions have been asked over and over again.  So i decided to compile pretty useful questions to clear your doubts.

If you see above image, this is how a paypal cheque sent to Indians look like.

How long will it take for paypal to issue a cheque?

It will take 3-5 days for paypal to start sending the check + 2-3 weeks to receive it. You will see check issued status in your paypal account.

What currency the cheque will be issued? USD or INR?

INR only, just like google cheque issued from citibank.

How long will it take for paypal to issue a cheque?

It will take 3-5 days for paypal to start sending the check plus 2-3 weeks to receive it. You will see check issued status in your paypal account.

How long will it take for people in India to receive checks?

usually 15-30 days, depending on your location, whether its suburbs or metro. Just WAIT patiently!! i have sometimes received paypal checks, even after 1 month. You will quite often see the Sweden stamp on letter with from address NY,USA. My guess is that checks are sent from sweden instead of US to reduce the transit time.

How does paypal ship these checks? Do they send them via registered post or courier service?

ONLY by ordinary postal mail with priority stamp on it.  Paypal doesnt use courier or registered post yet for Indians.

Will the check be a crossed check on my name?

yes it will be crossed cheque AC payee only, you can ONLY cash it by depositing in bank account.

How do i know if my check is stolen or still in transit? If stolen, what should i do then?

you dont. There is no way of knowing whether your check is lost or stolen, because cheques are sent by ordinary mail.

How do i cancel my check? What will happen if i do cancel my check now?

wait for 45 days or even max 60 days and then you can make a check cancel request with paypal using their contact form or phone.  It will take paypal probably a week or so to cancel their issued cheque minus $15 and the rest will be credited to your paypal account. Keep in mind that once you put a cancel request, then check arrives by post, and attempting to cash cheque in bank, it will bounce. So give 45 days for delivery.

How long will it take for people in India to receive checks? Do you think its wise to cancel my check now or should i wait for it?

usually 15-30 days, depending on your location, whether its suburbs or metro. Just WAIT!! i have sometimes received paypal checks, even after 2  months.

How long will it take for the paypal check to clear?

If you have a citibank branch  in your city,  your cheque will clear in just 2-3 days. If not it may take few more days.

What are the withdrawal limits imposed by paypal for checks?

the minimum amount to to withdraw by cheque is $150 and the maximum is $2500 monthly.

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5 Comments

  • Arghya Kusum Roy
    March 17, 2010
  • Arjun Mahajan
    April 5, 2010
  • Santosh Kumar Kethireddy
    August 4, 2010
  • Sher Bahadur Thapa
    April 11, 2011
  • Ansar
    July 29, 2011

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