I know that this is not new, but i had a few questions. ---- Dear XXXX, In compliance with Indian regulations, if you are selling products and services to customers globally, please review the following important information: * Any proceeds or earnings received into your PayPal account from the export of goods and services should be withdrawn to your bank account within 30 days. * Any proceeds or earnings received into your PayPal account from the export of goods and services may only be withdrawn to your bank account in India. This received amount cannot be reused for making purchases. * If you would like to make purchases on any website that accepts PayPal, you can continue to use any credit card issued by a bank in India. Thank you, PayPal ---- Now we all know personal payments are disabled to and from India. So of course all my clients have to pay me via goods or services. That leaves me with only 1 option - Withdraw the money within 30 days. Now as mentioned above i cannot reuse the money to buy online and i have 30 days gap to withdrew it. The only problem however is that i cannot withdraw, i don't have indian credit card and i am a NRI. I use indian account because the country where i reside they paypal sucks. Till now i was using this money to pay for my hosting bills and outsourcing. So if i don't withdraw my money in 30 days and can't use it online - what happens to that money? It stays their telling me that 'good day you have $3000 USD and its not yours?' Why do they have such useless laws? Withdrawing in 30 days? What if someone wanted to use their paypal earnings online to pay for other services including from ebay and not withdraw it in their bank accounts? Is paypal indirectly scamming me? Do they have the rights to do this? what actions can i take? Their support already sucks to the core, what should i do??
There is nothing one can do as this directive seems to be issued at the behest of RBI... who wants all debits and credits done in your bank account... rather than in your Paypal account as they want to keep a tighter vigil on each and every transactions! Wait for implementation of this directive... it is only then we would know how it plans to deal with money lying for more than 30 days! Regards, RightMan
well i am done with paypal, i am switching over to money bookers, but i want to know if money bookers has issues processing international bank transfers? Their is no point in having an indian account if i am able to use money bookers to get the funds directly to my account here in the middle east. But this is going to cost me lots of clients since not everyone uses money bookers.
I myself have been using Moneybookers for 3 years.I have never had any issues with them.Unlike PayPal that has different regulations for each country,Moneybookers has uniform laws which apply in every country.All the 200 countries supported by Moneybookers can send,receive and withdraw to their local bank accounts.Besides,PayPal claims that they support 190 countries but this is a marketing lie.They only support 46 countries.(You cannot claim you support a country when you do not allow the people to receive,withdraw and upload money.Such accounts are pretty useless). The truth is that PayPal are arrogant scammers,extremely paranoid and unreasonable.PayPal will ban or limit your account for 180 days for any silly reason.I have experimented with PayPal and their activities amount to fraud.When using PayPal,you have to be extremely careful.PayPal will ban you for logging in from your workplace computer if they want to.