The Solution to the PayPal problem in India

Where are you getting all this nonsense from? Xoom is not blocked. Unaccounted money in offshore accounts is not an issue endemic to India.

 

why there is 500$ limit ? we have PAN in bank we going to withdraw in bank only then why 500$ limit?

 

$500 per transaction... Can you not read?

 

very good idea bro

 

i know it already why there 500$ only limit per transaction,all the amount withdraw to the bank will be accounted,we are ready to show the tax and all,then why there only 500$ limit on per transaction?

what was my question

 

i mean why buyer can able to send only 500$ at one transaction ?

this account will be accounted in bank then why not allow more funds?

 

dude thats the restriction now !

 

we need to ask them to increase the fund limit

 

i think they probably make limitless transaction but suspend withdraw feature because withdraw will gets notified by rbi , tax dept

 

They will if majority of indians shift to it.

 

sure it will happen

 

Can we request RBI to lift the rule of not sending funds using our Paypal balance.Beacsue by using CC to amke payment,we also have to pay foreign transaction fees.

 

Now, we are forced to tell our clients to send money directly in our bank accounts and have to open to RBI that we have no black money

 

Lol, moneybookers all the way
The only option i see is to get a credit card & rock tha party

 

Does it means I cant do paypal to paypal transfer also ?

 

Yes, all outgoing transactions are banned.

Here's 'Question 3' on Paypal notification site that says -

 

The only issue is
1) withdrawal of payment within 7 days
2) you can't use your paypal balance for purchasing

I have my creditcard attached to my paypal account and i only buy online so I am not much worried.
Problem I faced is I cld not pay indians through paypal anymore.

sellers you need to organize yourself according to the govt laws sooner or later
you may like to open a company and receive direct payment in your bank account


these rules can be a problem for those
who have duplicate accounts or accounts which are not on real name.

Any other service which allows you to send/receive payment from paypal ids can work for you guys
your buyer can pay you from paypal account and when you need to withdraw you can send payment to your paypal account

I am not aware of any such service
may be something like fiverr can work for you.

I do lot of purchasing on fiverr and can pay Indians out there.
and also get good quality at the most economical rates.

and when some orders get canceled (generally happens with new ECONOMICAL service providers)
that amount remains in my fiverr account balance.

there are more sites like fiverr.
find a good one which provides excellent support
and sell on them too

vendors work unitedly.

I am like daily spender on fiverr

 

From the paypal notification it is evident that Paypal Is going to be Receive only account for all Indians who don't have Credit Card.

And if you have a credit card, you can send money but at higher cost which is around 6-7% higher in rupees term than the amount you receive.

Say if you $ rate for withdrawal is 44 for any day , and if you send money from paypal to Any body else youw ill be paying about 46.5rs per $ in your CC account.

Also there is no way you can send money to an indian within India (as CC transaction from india to india are already stopped)


Also Any other payment processor will not help as Government will force them to follow same rule or stop their operation in india.