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

Why blame each other, when we are brothers, chill dude

 

Payoneer is not available in India anymore. RBI blocked it on 7th Jan 2011.

 

Not a good idea, PayPal will ask you to verify your account sooner or later and then you will be in trouble.

 

RBI should ban paypal completely .. why allow them

they hold our money for 180 days once limited ..which is illegal according to RBI and comes under money laundering without any interest

imagine some other gaypal company might arrive soon and might limit all accounts to make money..

imagine your hard earned $5000 gets stuck in paypal limited account for 6 months .. we will become beggars

now paypal has followed RBI guideline and told max in 7 days have to remove all pp balance ... then they should do that to limited accounts tooo ..... then only paypal should be allowed to run .. otherwise ban them ..

 

ya i too think, how paypal will now deal with limited accounts

 

PAN is not mandatory so far. It will prompt you to enter the PAN. however, you have an option to skip it.

 

Finally someone with some common sense. Thanks

 

My only concern is all Indians will stop paying using Paypal, as the money will be transferred from Credit card if they do so. We can ask bank transfers. however, not all clients will be ready to do that.

 

This is the most f**king thing on which we cant do anything. I just Sent some mails to RBI not more than that I can do I also tried to contact some higher authority of RBI in WB(my tutor works there) but no more I earn like 3k-5k $ a month and now dk all got f**ked up =.= I can use some options like Alertpay and Moneybooker or one of my Partner Lives in Phyl have Business account we can continue via it but still =.= Alot of Indian Freelancer will get down too.

 

It is very easy to catch the proxy user.

 

RBI should allow us to use paypal and I do provide my paypal statement along with my bank statements to my tax authorities. We all indians can do that. by doing so, it won't affect our business. I also sent email to paypal about that.

 

My account is a Business account as I talked with paypal they said will be same. With my account I have to pay for hosting and my other workers. As I saw we cant send money online from my paypal balance and I dont have a credit-card

 

I don't think so. It applies to everyone. Anyway I have sent an email to Paypal too. Let's see what they say. I have also gave some suggestion to them to talk to RBI people.

Recently, tax authorities requested me to provide historic currency exchange information which paypal uses. As you know, paypal takes some % every time you withdraw money from your account to bank account. compare what your bank offers for $1 with paypal exchange rate. I have requested paypal to provide the data and we had long discussion (tax authorities, paypal and myself) and finally they refused to provide any requested information. My tax authorities already informed me to reduce using paypal. And they will take necessary actions against paypal. looks like to me that paypal will shut down their operations soon in india.

 

I think same but this will be the biggest shame for us. Paypal works worldwide and now its getting f**ked in India only cause of the Export Rule.

 

1. Just wait and watch. Nothing more you can do at this point.

2. Request to PayPal to increase the $500 limit to a min of $2000 per transaction.

3. Request to RBI as well to allow PayPal to increase the $500 limit to a min of $2000 per transaction.

4. Request to PayPal to allow member to add Debit Card as well as a linked account.

I think if policies will alter as per the above point then everybody will get in to the safe boat.

Thanks and Regards

 

Well, for all guys here.... Paypal is very clear....they clearly say....JUST STAY AWAY FROM PAYPAL....they can't be in biz in India anymore it sounds.....

 

Why not we switch to an alternate network??

I was shocked after reading that email.

Time to find a secure boat to reach our destination

 

Whoever gave me a negative reputation on this thread needs to get their grammar right.

 

Well, I guess its not a big problem. Main problem will arise once PayPal stops withdrawal to Banks in India.

 

what if we use non-us accounts?