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

Discussion in 'PayPal' started by Wisden Writers, Jan 28, 2011.

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  1. web_tweaker

    web_tweaker Peon

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    #341
    Yeah! How to do that!!!! Stupid RBI. They don't know that its harmful for all indians who work online!!!
     
    web_tweaker, Jan 29, 2011 IP
  2. hexadesigns

    hexadesigns Peon

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    #342
    Report the whole situation to Nasscom so that they can help or atleast see what to do about it. The people at RBI needs to be educated about the internet. They are old school. Otherwise why would they impose schemes like "verified by visa" and all on online transactions that has been trashed by other countries, centuries ago. Oh well.

    Talk about the national portals not using a decent https. How many decent gov.in websites do you find?

    Empty vessel sound much. RBI proved it again!

    And by the way, Paypal does not give a hoot about it. If they find too much trouble, they will just shut down ALL services in India.

    Jao ab chaddi pahenke ghumo.

    I do not see any alternative right now specially on sending payments. A lot of Ebay sellers will loose ground too.

    The move is mainly to track foreign revenue, and put it in a loop.

    Get paid > Bring money > Send money from CC > Pay to CC from bank.

    That is FINE! But why the hell 7 days?

    I really want to meet the persons who got this idea.
     
    hexadesigns, Jan 29, 2011 IP
  3. sanjay_bhuarya

    sanjay_bhuarya Peon

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    #343
    Count me in :)
     
    sanjay_bhuarya, Jan 29, 2011 IP
  4. musichangout.com

    musichangout.com Well-Known Member

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    #344
    I m in , join the group for sure.
    If possible I can act as president for the group :p
     
    musichangout.com, Jan 29, 2011 IP
  5. IndiaNets

    IndiaNets Active Member

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    #345
    It's not a new idea, it's an old rule since 2004. It's the other story that PayPal was not following that.

    Any online payment processor/gateway can not hold the funds for more than 7 days and your PayPal is now nothing but a payment gateway. Please read my quoted post below.

     
    IndiaNets, Jan 29, 2011 IP
  6. Siddharthr

    Siddharthr Greenhorn

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    #346
    yes, that's too bad news,
    the thing is RBI needs to know the complete transaction running in India,
    You can still buy/sell services by using your credit cards, however includes much taxes in withdraw and transfer :(
     
    Siddharthr, Jan 29, 2011 IP
  7. hexadesigns

    hexadesigns Peon

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    #347
    And who said that? I use 2CO since 2002. Funds are released when they reach a release level set by the ACCOUNT HOLDER. Can be days, months, year or years. Mind you they are NOT a payment gateway, they are RESELLERS of your product or SERVICES.
    But it works the same.

    The money holding thing is for our convenience. With interest or without interest is a different story.

    I really don't give a shit what an X- RBI employee probably in his 70s has to say about it. If at all that blog write up is truth.

    We will face a real problem. They get pensions.
     
    hexadesigns, Jan 29, 2011 IP
  8. Arrowhead

    Arrowhead Peon

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    #348
    Calling Paypal the culprit just doesnt cut it for me.
    RBI should move with the times, 2004 is centuries ago in the online world.

    Paypal is Not a Bank, its a different entity. Something the RBI people just can't seem to comprehend and get their acts/laws together to deal with it in a manner that doesn't hurt their citizens.
     
    Arrowhead, Jan 29, 2011 IP
  9. richardandrews2007

    richardandrews2007 Active Member

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    #349
    I hope someone from RBI is reading this and address the issues. I am thinking of moving away from India. I mean migrating to some other country where business people are not screwed. As a webmaster, I can not put even my address and customer service number on my website. As soon as I do that no body in the world buys from my websites. Most of times, I am proud to be an Indian, but sometime I really feel why was I born here. I guess, for me moving to a different country is the only solution for this problem.
     
    richardandrews2007, Jan 29, 2011 IP
  10. maxgates

    maxgates Well-Known Member

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    #350
    Could someone please explain the statement mentioned in the quote. What is this confirmation. I receive payment for services.

     
    maxgates, Jan 29, 2011 IP
  11. Digital_shubhi

    Digital_shubhi Illustrious Member

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    #351
    Now its important to have CC or atleast VCC via which you can buy domains or hosting without any hassle. :)
     
    Digital_shubhi, Jan 29, 2011 IP
  12. Nick_Mayhem

    Nick_Mayhem Notable Member

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    #352
    Okay one thing that comes to my mind is that If we are to withdraw the money within 7 days.

    And if someone receives. Less then 500 like 10 times and he has 4000 USD in his account. How will he be able to withdraw it within 7 days if monthly withdrawal limit is 2500 for Indians :(

    Thanks.
     
    Nick_Mayhem, Jan 29, 2011 IP
  13. mrwordsworth

    mrwordsworth Active Member

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    #353
    Friends lets make a Facebook page regarding this issue. What say?
     
    mrwordsworth, Jan 29, 2011 IP
  14. mrwordsworth

    mrwordsworth Active Member

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    #354
    Lets create a new Group/Page on FB for this issue.
     
    mrwordsworth, Jan 29, 2011 IP
  15. warlord2010

    warlord2010 Peon

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    #355
    I don't think so there is a $2500 withdrawal limit for verified users. Someone please confirm this for each account type please...
     
    warlord2010, Jan 29, 2011 IP
  16. rathin

    rathin Peon

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    #356
    RBI sucks :(
     
    rathin, Jan 29, 2011 IP
  17. nihangshah

    nihangshah Prominent Member

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    #357
    [​IMG]
     
    nihangshah, Jan 29, 2011 IP
    akki313 likes this.
  18. easyhostingplans.info

    easyhostingplans.info Peon

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    #358
    lol
    good 1
     
    easyhostingplans.info, Jan 29, 2011 IP
  19. radiant_luv

    radiant_luv Peon

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    #359
    A clean sheet to PayPal, I doubt. RBI is after PayPal without no reason?
     
    radiant_luv, Jan 29, 2011 IP
  20. prathaprabhu

    prathaprabhu Well-Known Member

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    #360

    I am pretty sure if you are a verified member and added a Bank account in addition you can receive or send Unlimited money. Though I am not sure about Paypal new policies as I have been using Paypal since 2008.

    Thanks for the Link - Now Paypal should make some changes before their new rule get into action.

    Cheers
     
    prathaprabhu, Jan 29, 2011 IP
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