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

Yeah due to this limitation Indians are forced to get credit card because now we can't able to buy products or send money online using paypal. the visa debit cards provided by Indian banks are limited and not acceptable by most of the websites so we are not able to buy products online.

 

One of my indian client has an business account, he is not able to send payments. He told me he is getting the same notification that we get during login when he tries to send payment. ..

I guess paypal has implemented the rules for only business accounts. Does anyone having business account have same issue?

 

may be only indian business accounts have to comply with new rule with regard to export transactions. Premier accounts will work just like normal What i am confused is paypal would have told us clearly this only applies for busienss accounts, which they havent. You never know what paypal does

 

What to write and What to submit that also tell so we can easily send the quiery to those

 

I think they will be rolling out the implementation changes in a phased manner. Remember last year, some people got their money reversed from bank account withdrawals and then slowly it was done for all... I feel that they don't implement the programming changes and do very careful testing before making it live (of course they'd do that for any company of repute esp those handling financial matters) and they don't do it for all people in the country all at once because some of them may be operating their accounts from India but may actually not be Indian citizens (like peope who are from US but have been sent to India by their company).

If these implementations are going to be permanent (only PayPal and RBI know whether that's the case or not), they'll surely implement the changes within this month.

 

PayPal

Dear xxxxxxx

With effect from 1 March 2011, PayPal will be complying with the requirements set out in the notification of the Reserve Bank of India (“RBI Guidelines”) governing the processing and settlement of export-related receipts facilitated by online payment gateways.

In order to comply with the RBI Guidelines, we will be disallowing users from using any balance in and all future payments into their PayPal accounts to buy goods or services. Users will be required to use their credit cards for making such payments.

Since our Mass Payment feature does not support payment from credit cards, we will be discontinuing this feature. Indian users will not be able to avail of the Mass Payment feature, that is, send Mass Payment through their PayPal account. However, all Indian users will be able to receive Mass Payment into their PayPal account.

We regret any inconvenience caused to you and seek your understanding as we continue to employ our best efforts to comply with the RBI Guidelines in a timely manner.

Sincerely,

PayPal

 

some business paypal account holders facing problem now

 

Just Want to Inform you guys I've just received $2231 in my PayPal without any pain from my CPA Network

PayPal ROCKSSSSSSSSSSSSSSSS.

 

I saw in some posts that people saying these rules are implemented for business Paypal users because Business Paypal users cant send money using Paypal balance and normal Paypal users(Premier and Personal) can stills end money using Paypal balance

 

Dude, why don't you MASS PAY me this amount..
Just wanted to check if i can receive this much..lol

 

LOL. Why

 

Which CPA network you are using or recommend?

 

In the paypal email they didn't mention about the withdraw option?

 

Paypal is probably working on changing the codes of the site so the system itself wont let us sent the cash

 

Try some leading CPA Networks. They generally have more versatile offers than the smaller one.

 

Are we going to hear any update about this?

Cheers

 

no limitations will be there as its linked to bank account and approved via special paypal code for automatic topups

 

When is it going to get affected?

 

And how the week day be counted to withdraw the money ? is it 7th,14th,21th....every month or the 7th day after getting money into paypal account ?

 

It is by 7th day of money you recieve to your Paypal account you have to withdraw