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

I'll just renew my domains before march just in case.
This is really annoying..

 

Sometimes I really get hyper, so take following things written in my hyper situation.

I don't think copying paypal is easy as security is the major concern online.
Opposing government is near to impossible here in India. I'm always finding reasons to oppose Indian government and the one oppose i always do is i never vote and will never.
I am not a highly intelligent guy as you people are here but I think we can ditch RBI if RBI thinks they will compel us to make use of credit card.

@Shawn
Thank you, I was thinking to find a way and i got a push from your examples.

Just read and forget what i said here because it will take a whole year to implement my idea, till the easiest way to use for business is credit card. But i still hop everything goes well between paypal and RBI, otherwise i will be rich lol

 

Yeah its been a tough time ever since we got the email. I am just hoping some miracle works out and RBI and PayPal be a little kind to us

 

Everyone is forgetting about the habit of Paypal.

Paypay will always rollback their announcements by the following month. So, we all have to wait till end of Feb, then we will know whether Paypal is going to implement these changes or they will make some changes to these new rules. They will always have talks with RBI for some kind of relaxation on these rules.

Let's hope for a happier announcement at the end of Feb, 2011.

 

This is too bad I really hope, they change this rule and spare the services part and apply it only on Goods...

 

There is no bar when it comes to Intelligence!!! - LoL It should be "Quoted"

Secondly, I would encourage you go Vote. You MUST GO VOTE. You Know Why? Because You have an option to "Vote No One"

By simply not Voting... You're encouraging False Voting/Fake Voting....

This is where I sometimes feel discouraged, because our own so called Educated People don't know some Simple Facts About Our Own Country!!!

May I Humbly Say - You Guys Don't even Deserve To Live in YOUR OWN COUNTRY???

 

You are absolutely right buddy...

 

so what to do?

 

Its paypal who is taking advantage of Indians by giving them low conversion rates and then implementing these tough rules. I have to make a lot of small like(10-50$)payments to bloggers per month like more than 100,,I am worried about How I am going to make these now

 

Hey guys...
Join this facebook group for protest against paypal and rbi..
Group is public and made by my friend..

http://www.facebook.com/home.php?sk=group_161740733876874

Code (markup):

Thank You
Samsexy98

 

welcome to india !!!

no offense.
still i am worrying how will i start my online business.

 

There's more to this.... UPDATE

As RBI wants we should use credit card for transactions and not paypal balance - CREDIT CARD (ICICI) CHARGES 3.5% FOR PAYING IN FOREIGN CURRENCY...

This means every thing for us has become 3.5% costlier from now...

This is a big hit on us... Government is literally killing us...

 

i think we can file via rti act and get how much rbi getting bribe from credit card companies

 

So any update on what's going to happen if we don't withdraw the funds within 7 days??

 

I don't see anywhere paypal officially has written what will happen but recently someone from DP contacted paypal about these issues and got a reply that the funds will automatically transfer from paypal to your bank account on the 7th day after receipt if you fail to transfer yourself..

 

If so i hope Paypal at least waive off the fee that they levy for withdrawals below Rs. 7000! Else we are doomed as there are four or five ways we have to pay fees to paypal, to our credit card company (foreign currency conversion, service charge on that, education cess on that), besides paypal converts our money with lesser conversion rate, and for receiving our money paypal charges service charge on that, and besides all this we have to pay income tax on that money..... oh god please help us!! I guess we are doomed here!

 

This is not good. Maybe we need to switch to another paypal alternatives such as moneybookers

 

Hello Guys,

From march 1st can we still use the merchant services like 'Buy Now', PayPal cart, donation etc??

Thanks

 

I guess you can't use those options . Mail them mate you will get a answer .

 

I am now thinking of quitting my online business. It has been rocking 3 years for me where i started with pennies and learnt everything from scratch.. Such a wonderful experience......

But now with this shitty rules from paypal and RBI, its more than annoying and i believe it would be waste of time spent, and nothing in return....

Without paypal online business is nothing and with these rules (Certainly not able to pay through paypal balance is a stunner), its GAME OVER folks...