Important Update from Paypal for PayPal India Users : Change in User Agreement

All said & done I am just curious to know what happens when you didn't withdraw money within 7 days.

 

Can we not use payoneer to make payments ??

 

http://www.moneymakingsutra.com/342/reserve-bank-of-india-hates-small-businesses-paypal/

Paypal as an online payment processor is history as far as Indians are concerned

 

Thats what India Deserves... Continue voting for this type of Govt & u will receive this shit. Just move to a different Payment Method as of now that seems to be the best alternative.

 

This is really mess.Now what to do.In the morning this seeing this mail.My head got corrupt.
Paypal is my main payment transfer system.
So i think i have to start using debit card from my bank account.

I have a question , can i use my sbi atm cum debit card to invest in other online site like trading or anything?
Please help.

 

No indian debit cards dont work only credit cards

 

Hi I am working with lots of filehost and earn some money with their system like fieserve hotfile filesonic any other more. I have some question I would like to know help me if you can

I would like to know about these issues

Am I received money from filehost? If yes then is there is any monthly limit or per transaction limit.

Money requested within 7 days. What does mean that If I recieve money on 1st then what is the time frame to request my money for transferring in my bank account.

How can I pay for my hosting site and am I able to purchase premium account of hotfile fileserve and filesonic with my paypal balance.

Waiting for reply

 

i think for that you have to use your indian debit or credit card for online purchase.
I am having same problem now.

 

Even I couldn't resist but Waiting when this Crap Congress will be kicked out.

 

i am least worried about the paypal fees for withdrawing , i am more concerned about that i have to pay them for converting my $ to INR that cost me 2 Rs per $ as fees . and then hw should i pay for fees like domain , hosting , etc . you are simple stopping me to work on internet and make some money out of it

 

There are a lot of if's and but's with is new policy as there is no proper information and support against this new policy.

Do you think such steps will prevent Scam? Haha.. infact it will encourage more scam. The Reserve Bank of India will never approve of binding bank accounts with Paypal.

So say (just imagine) you send someone 500$ as advance for Work, He asap will transfer it to his Bank account. Now if the contract fails or you want to charge bank, there are no funds in user PP Balance, moreover the CC attached to the account may have a payment limit say set to 100$ per month or it may refuse to make you any payment.

So whereis the security or anti-scam method? Just pure BS I tell you...

 

Wow !!! I think now Paypal wont be able to block our funds for 180 day after make the account limited forever

 

STOP BLAMING PAYPAL!

PROBLEM IS WITH THE RESERVE BANK OF INDIA!

Even Payoneer has disabled their cards in India
Google is still sending cheques.
2Checkout is of no use because of payoneer

There are thousands of Indians who are working hard, day, night and earn their living by offering services online. We all are assets for the country not liabilities.

Government should support us instead of stopping us!

We have to be a unit, We have to become a group who will stand in front of the government.

We cannot wait a watch anymore. We all have struggled too much to reach this level and only because of RBI we face problem every year.

THIS ISNT FAIR AND WE HAVE TO STAND UP!

We all should go to the parliament member of our constituency and submit a memorandum and those members will raise our voice in parliament of India during budget session and they should get a relief for us.

While at one side people have their trillions of dollars in swiss bank and one side where we are doing hard work to earn money, RBI is putting restrictions on us. We are not thieves, criminals or scammers. We are the one who make India proud.

P.S. There are a number of writers in India on DP and they are also supporting us. They should write a memorandum and post it on this thread and on that we should discuss and do final drafting.

Thanks and Regards

 

Only say, you are far away from reality! These payment system need to follow FEMA act set by 1999 which force them to give information for account holders if they kept money and also get money worth of $500+. But these payment system are not ready to do so they got this way to make us and RBI within rules!

In multinational banks have no issue to give details to RBI in India then what's wrong with PayPal?

 

Paypal has to follow the rules and regulations of RBI which is the apex Financial Institution in the country.

Paypal wants to avoid coming under the rules and regulations of the Government.

RBI can leverage Paypal by warning them to cancel its license in case of failure with compliance of RBI rules.

 

I dont understand why they implemented rule that you cannot buy anything online using Paypal account balance and to buy online you need a Credit Card.What Paypal/RBI has advantage in implementing this rule?

 

WTF the whole problem wouldn't have been this messy if only PAYPAL FOLLOWED RBI RULES....why is that so difficult for paypal to follow rules..They might be working as something else in US but in India you gotta follow these rules... PAYPAL doesnt want to be treated as a BANK thats when all these new rules kick in...

If you are a bank you need to disclose information and provide interest to the amount in paypal account and much mroe....

RBI didnt implement this rule yesterday its been there for 12 years now...
According rules all transactions above $500 has to be disclosed by PAYPAL but they have refused to disclose the information to RBI, so RBI has asked to restrict it to $500

Read my entire blog post..http://www.moneymakingsutra.com/342/reserve-bank-of-india-hates-small-businesses-paypal/

 

Paypal is not a complete legal system, if i am not wrong.
most of the problems with the rule has been discussed here.
An another problem arise here is that an Indian can't send money to another Indian through paypal without CC.

Anyone being worried about domain, there are some website you can transfer your paypal money to them as a fund. eg. namecheap. you have one month, may be you can fund 100 bucks and reserve your 10 domains this way.

 

Friends Do Check Out the Comments posted on Yahoo News.
http://news.yahoo.com/s/ap/20110129/ap_on_hi_te/us_tec_paypal_india_restrictions

 

What is the problem? The only point is, (a) no more cash balance in Paypal account, (b) withdraw all money within 7 days of receipt notification from receiver (c) incoming funds cannot exceed $500, and, (d) continue purchases from the linked credit card on account.

Is this a problem? How many of you sell items worth over $500? Even if you do, ask buyer to send payment in two transactions - that's a loophole in the rule! Secondly, withdrawing funds to bank - its obvious you're doing business to make money so its not a problem to take back money into your banks! Lastly, though you cannot make purchases thru cash balance, you can do it via linked credit card - so what's the hurdle here? Paypal didn't say you cannot buy stuff! They only said, buy with linked credit card. No need to panic.