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

I pray that its not like what that guy is saying...
If it is true then I would literally get a Heart Attack Now..

 

PayPal has clarified the issue. The mail is below pasted:

Dear XXXX XXXX,

Thank you for contacting PayPal, my name is XXXXXX and I am happy to
assist you today.

I hope you are having a great day so far. Let me tell you that the
$500.00USD limit is per transaction, so if they want to pay you on
installments or small payments they can do that if they have enough
funds. You can receive several $500.00USD payments through the day,
that's not a problem. Thanks for your cooperation.

Don't forget, we're always around if you need us. Just click "Help" in
the top right corner of any PayPal page to visit our improved Help
Center.

Sincerely,
XXXXXX
PayPal, an eBay Company


I hope they stick to it at least.

 

That was quite clear from the email itself. But that's lame as well.
How are we supposed to ask our clients to send in parts? For a payment of $5,000 he pays 10 invoices? Lol.

 

Ask them to send money via wire transfer.

 

That's fine. Just that more papers needs to be kept now, have to show all income proofs, expenditure etc to govt the legal way. Earlier paypal served as a mini bank and we could send payment to staff, take our part and keep the rest in Paypal.
Now, i take 5k to bank i'll be charged high tax unless i show expenditures.

I see you selling domains at high value. Wire transfer eh? How do you get saved from tax for this? Any help is appreciated.

 

Hay guys,

Want one help.

after 1st march can i use my Union bank debit card witch is visa verified, for sending payments?

Hope i will get answer.

 

Debit cards won't work. Only CC

 

But i heard somewhere that we can use Visa verified debit card for sending payments.

 

that would have been great, even i have Visa international debit card as well as mastero debit cards.
I tried adding the card to paypal and it dosen't work. Try yourself and tell us.

 

There are many ways to deal with tax, i would advice you to contact any CA and explain him everything. BTW i do not sell domains, i sell websites. I sometimes also use my parents accounts for higher transactions.

 

any one had sucess opening a us bank ac from india ?

 

Debit cards no matter they are international or universal ( ) they wont work.

 

Now the inevitable is nearing (March 1) and i guess this is going to be how we are going to transact via paypal anymore.

And now the next option is to find which credit card charges less service charge for foreign currency transaction? experiences anyone? i guess HDFC Bank Credit Card Charges around 3.5% per transaction as Foreign currency markup charge plus service tax on that and education cess on service tax!

Any other card which provides lesser charge for foreign currency conversion, etc?

 

No I also use HDFC card for it.

 

So, that's it then for all Indians, isn't it? Roll over and die :|

In my opinion, Paypal is going to lose a lot of clients and money, don't they realize this!!

 

I do understand that PayPal Understands this - but our corrupt government policies are only to make common man life difficult. Be prepared buddies we are soon having the same revolution like in Egypt.

 

I don't think that is possible in India because we are now trying to adjust with the problems instead of facing and knocking out the problems and we always do so..
Example is this thread.. Read some last 3-4 pages and you will come to know we are trying to adjust (Including me, Shame on us) and that's how our govt takes advantage of us...

 

Why would PayPal pay the fees etc? This is all fault of RBI. I really hate Indian government and RBI for this. I wish I could cut the throat of all responsible higher ranks in RBI. Stupid old fart guys are in government. All over the world no one is making such bullshit rules regarding paypal then what's problem with Indian government?

 

Dont play with Govt. They will FIX you up permanently

 

Quick question- I want to withdraw money from my account, so I'm thinking of transferring it to my mother's PP (coz it's connected with her bank a/c)
Now, how do I avoid the transaction fee in between this transaction between my a/c and her's?

I'm asking this because I need to know when and how clear my account as soon as possible with minimum fee. I've heard that by sending it through "gift" , there is no or less fee.