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

Then why are you telling on another thread as Microworkers as the solution for new rules???

 

It looks like Microworkers is not the solution. Accept my apologies!

 

I am glad

 

I visited SBI branch...and inquired about Credit card against FD..i was told..it would take 45 days to get it...so i moved to ICICI bank where me and my father have a joint account...i was told that CC cant be obtained in case of a Joint account..So i opened a new account there..and the FD for me will be of 30k to get the Credit card...and on monday possibly i will get the Credit card

 

Did you asked about the Debit Card instead of CC

 

i went for the Credit Card

 

I think Debit Card will be easy to get even with savings account..

 

You can't attach debit card with PayPal Account. Go for Credit Card.

 

I thought we can add a Debit Card which have a Visa Logo
I think we can attach

 

Do you think our government have that much time to revise the laws..??
I mean first they should free themselves from transferring money into Swiss accounts then only they will get time I think...

Edit:
Hey when I became "Champion of the Naaru" ???
I didn't even knew that...Hahaha..

 

You can add Debit card to Paypal account but you cannot buy from that.Paypal will not allow that.

 

very right, if they started from tomorrow ( suppose ) i'm very sure new law will be pass and in action in 2015 or so..

 

Is there any solution? We are discussing this issue for a long time now. Any one found any alternative to PayPal? If we need to withdraw funds with in 7days but PayPal has its Monthly Withdraw limit. How can we withdraw funds more than that with in 7days?

 

If you have a verified account with Paypal then you can withdraw upto $20,000 per month. Now, for those who are receiving more than 20K per month (in multiple transactions) this limit cannot be imposed as all individual transactions will have to transferred to bank within 7 days after receipt.

 

And what documents would those be? From the point of view of the Indian financial system, Paypal would be a foreign payment source. It is not a bank operating in India, and shouldn't need to get approval or submit documents any more than a bank (not located in India) would need to.

For example, a bank which isn't located in India can still send money to India either by check or wire. There's no basis for treating Paypal any differently other than the fact that Paypal was highly convenient for the smalltime exporter (Indian tech consultant) as opposed to the bigtime exporter (factories, Wipro, Tata TCS, Infosys, etc.) who use highly structured bank payments which don't even make sense for amounts under $500,000.

 

And where does FEMA say that your customers cannot pay you more than $500 at a time?

Please don't make excuses for the incompetency of our bureaucrats.

The documents are to be provided by you to your bank when you cash the money in the bank. Otherwise, what are you going to do with a check?

 

Amazing how they swing into action for comparing piddling amounts (1 Rupee exhange difference on a $2000 conversion = 2000 Rs.). And no action for billions of dollars diverted to Swiss bank accounts.

 

Hmmm I didn't knew about that...

And in 2012 World Will End..Hahaha...

 

Not the whole world only INDIA

 

LOL...Hahaha...
But we won't let that happen..
Instead you should say that the current Indian Government will end and not India..