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nova9
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To all Indian authors: Are the issues with Paypal holding back personal payouts resolved? If not, how are you folks receiving money from Envato?

I have some money I’d like to withdraw to Paypal, then to my ICICI bank account. Will this be permitted by RBI ?

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illusionem
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Hi, yup the issue was resolved earlier in March… I have made successful payouts to my bank :)

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SaurabhSharma
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Only payments via services/goods will be allowed for withdrawal. If you have received personal payments (like donation, or from a client), I suspect it won’t be allowed. You just need to provide appropriate reason or type of service for which you received the money. For example, for envato payments, we usually select “Licensing for creative works.. or Software Consulting” while withdrawing money.

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nova9
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Only payments via services/goods will be allowed for withdrawal. If you have received personal payments (like donation, or from a client), I suspect it won’t be allowed. You just need to provide appropriate reason or type of service for which you received the money. For example, for envato payments, we usually select “Licensing for creative works.. or Software Consulting” while withdrawing money.

Where do you make this selection? In Paypal? And when you do, it’s all fine with RBI , isn’t it?

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SaurabhSharma
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Where do you make this selection? In Paypal? And when you do, it’s all fine with RBI , isn’t it?
Yes, in paypal. At the time of withdrawing funds, you would be required to select appropriate purpose for which you recieved those funds. This purpose will be stated at bank side so that RBI knows what funds are coming for what purpose. While selecting a purpose, make sure you can provide the proof of that purpose in case Bank asks you. For eg. if you selected “Licensing of creative works”, you should keep a backup of all those works/items you created for your client. Also keep invoices and all records up-to-date.. just for security purpose. Otherwise, nothing to worry. You can proceed ahead with the withdrawal. :)
77 posts
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nova9
says
Where do you make this selection? In Paypal? And when you do, it’s all fine with RBI , isn’t it?
Yes, in paypal. At the time of withdrawing funds, you would be required to select appropriate purpose for which you recieved those funds. This purpose will be stated at bank side so that RBI knows what funds are coming for what purpose. While selecting a purpose, make sure you can provide the proof of that purpose in case Bank asks you. For eg. if you selected “Licensing of creative works”, you should keep a backup of all those works/items you created for your client. Also keep invoices and all records up-to-date.. just for security purpose. Otherwise, nothing to worry. You can proceed ahead with the withdrawal. :)

Thanks a lot for clarifying that…...cheers.

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