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

But, others are having problems with it.

Also, 99.99% of Paypal accounts don't have black money.

 

Why RBI is restricting now ? why not when paypal stepped into India ?

 

RBI can come with over 100 rules anytime and today it could be $500 and tomorrow $100 and their rules arent helping ordinary indians, which is why there is a lot of swindling going on in our country. After almost 50yrs of getting independence, we havent still got our full financial freedom. Paypal is clean, fully regulated by US govt and nothing to do with black money. stuff.

 

We need to let this Govt. and RBI know that 500$ limit is unacceptable.
Can someone draft a letter so we can start a campaign by sending those letters to Ministers,Local MPs,Comm. chambers and RBI

Physical mail is best as I don't know how many these govt. guys still access emails

 

Here's ready made drafted letter. It covers almost all points on this issue.

 

I was thinking of a small point to point letter giving reference to RBI November Notification and its impact on small business.No point in pointing fingers to swiss accounts etc... as it will not help us and people will throw long letters away.

 

Did that guy got any response..???

 

sorry for joining late. so what we should do??

 

is moneybooker is good?? can we withdraw money to bank account??

 

I have one very good news. We can use our VISA verified debit card to our account and use that to send payment. I asked them about it and they mail me this. I have a Visa verified Debit card and i will add that to my account.

 

Can we send payment via debit card or PayPal balance?

 

We can send Payments from our VISA verified Debit card. Not from our paypal balance.

 

Anyone has idea that what would be happen if we can not withdraw payment within 7 days ??

 

Someone already explained this point earlier here. PayPal will automatically transfer your funds to your Linked Bank account.

 

How do you got it or in other words, how can we get it?

 

Last night i mailed then and asked about it and they replied it and said this

 

I guess its time to stop discussing the topic on forum and go out in open in form of some gathering to let them a$$holes listen to us. Any comment ?

 

There is always a word : A$$HOLES.
And there is another word : EXCEPTIONS.

Now, i call the first word to RBI who themselves are idiots.
Second word is to request RBI to call that word to PAYPAL.

I am all yours to come out in open.
Lets just do it.
Enough of FEB FEVERS each year.

 

We can fix places to meet and I guess Sunday would be best time for that. How many people near delhi ?

 

The whole fault lies in Paypal. I have seen payment processors in India go through similar issues but they got themselves tied up with banks to escape this. The money transaction is responsibility of the processor and they are not allowed to use this money for any other use or store it.
Paypal is not maintaining its proper legal presence in India. It is Indian money stacked up in US, that makes it black money. You are exporting something from India and the money is going to US. Paypal can do one thing: tie up with some Indian bank and keep the money there and use that for making payments etc.