paypal India - Here is Next Problem - Now you can not pay outside

Going by the book, what the RBI has done is right. But, the people they targeted with this move, mostly freelancers/self-employed professionals who don't depend on others for job, but generate employment and wealth, was wrong. You should incentivize people to be self-sufficient and provide all the support, not penalizing them for being self-sufficient.

Place a limit on the amount that can be held in Paypal account beyond 30 days. Place a limit on the amount that can be used for making purchases via Paypal balance. This will spare the small business. If your purchases are high and amount held in the account large, you don't qualify to be a small business and can easily afford an accounts department to comply with all these regulations.

Now, why won't Paypal start a bank? Integrate the bank account with Paypal account for seamless transactions of buying and selling

Manmohan Hebbar

 

Indian Government want to see all Indian Unemployed I guess...

They just make trouble for their ppl

 

open a savings account with ICICI, and anytime they see a single deposit of more than 15k~20k, they will offer u a CC, either by mail or a link in the online banking module,....

the whole idea of 30 days & not being able to pay online sucks, this is intrusion into my privacy!

and whats more scary, if this is what paypal is doing, then what do Indian Banks do??? what is the privacy level do we have there????



Food for Thought
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I have only got this email for my personal PayPal account and not for my Business PayPal Account, can someone verify?
M.

 

yes i also got this email in my pesonal account email which i am no longer using,
My business account email yet to receive this notification, may be they have some other shock for the business account.

 

now what happens if one does not transfer the money to his bank after 30 days. does pp automatically send the same or what. what happens to the existing balance. the mail doesnt answer the questions.

govt is playing a spoilsport. hope pp is more sporting

 

I do not have any personal account with Paypal and I am yet to receive an e-mail from them in this regard.
Is this notification valid only for personal accounts?

Regards,

RightMan

 

What the hell is this??

In this way all the business of Indians are lost..

No other better option than paypal..

We must have to be together and fight Against RBI..

what say guys??

All Indians please be together at one place on net..

 

No premium member affected too ... I am a premium member.. I rcv notification from paypal too

 

No they just want small business to pay proper taxes.

US/UK need a bank account to be verified too, I already thought about this idea but its very risky, paypal can detect suspicious transactions and freeze both accounts and without a new PAN we won't even be able to open a new one. Also we would have to pay the fees twice.

 

Leave this country at First opportunity you get.
This Country has no place for hard working peoples...
Settle anywhere outside SE Asia,even East Europe is better than this Idiotic country

 

And for your personal benefits you are ready to call your own country shit.. huh..

 

Instead of globalizing India this Govt is restricting India from earning money from overseas customers. They can't control the food prices and now they don't want Indians to make money online.

 

The 30 days policy is quiet ridiculous and not quiet practical , you also loose lot of Fees while transferring amount so often, and not all get big payment, lot of the get smaller amounts at a time.
& the received amount cannot be reused for making purchases is really bad too.

I think we all need to write to PayPal to do something about it and workout solution to the above issues with Indian regulators.

 

wht if we don't withdraw money within 30 days and what if we continue to pay our payments from the fund we earn?? do you think RBI or Indian gov have a power to track and force paypal to block our account?

I don't think so. It is just a note from paypal to keep RBI happy. In reality they ll never know abt what is happening. So I suggest don't feel panic. Just chill.

 

^^ just like Paypal won't know what is "export income"?

All that's a pretty gray area IMO.

 

Well in a month or 2 maybe we will get message indians cant use paypal.. sorry

 

Of course! and why not? When he pays his tax properly and does whatever the bullcarp this lame Govt ask him to do being a common man.
Do this govt come when people freak around their A** looking for a job and still don't get it, but when they try something on their own (what we freelancer doing online), then they freakin wanna piece every bit of it? Still no issues, we pay tax, but still creating unnecessary hassle? Sadly! But i call it lame!

 

@ BOHRA LMAO it won't happen as Paypal won't let it happen IMO.

 

actually thats the plan. now Indian banks etc have started their own gateway, b2b network etc. but sadly no one is signing up due to high cost, non-acceptability of them and the existence of the PayPal etc.

so they are making things tough for pp etc so that they have a chance.

welcome license raj.

 

And any one checked paypal exchange rate ? 42.90 ...WTF??

Only god can help us