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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.

  1. #1
    I got following email from Paypal few mins back. I Hope this wont be again same old case of Paypal.
    SEMrush


    Dear Wisden Writers,

    As part of our commitment to provide a high level of customer service, we would like to give you a 30-day advance notice on changes to our user agreement for India.

    With effect from 1 March 2011, you are required to comply with the requirements set out in the notification of the Reserve Bank of India governing the processing and settlement of export-related receipts facilitated by online payment gateways ("RBI Guidelines").

    In order to comply with the RBI Guidelines, our user agreement in India will be amended for the following services as follows:
    1) Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services; and

    2) Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.
    We seek your understanding as we continue to employ our best efforts to comply with the RBI Guidelines in a timely manner.


    We regret any inconvenience caused to you and hope the advance notice will enable you to plan your future use of our services accordingly. For further information, click here.

    If you have any questions, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us’ at the bottom of the page. We sincerely thank you for your patience and continued support.


    Sincerely,

    The PayPal Team

    Now Here are some FAQ by Paypal
    Q: Why will PayPal not allow me to receive more than US$500?
    Starting 1 March, 2011, PayPal customers in India will not be allowed to receive payments for any export-related goods or services for an amount exceeding US$500 per transaction. This change is to ensure that we continue to comply with the RBI Guidelines.
    Q: Why will PayPal not allow me to keep money in my PayPal balance?
    Starting 1 March, 2011, PayPal customers in India will not be able to keep money in their PayPal account balance. Instead, all money received into a PayPal account must be transferred to a customer's India bank account within 7 days from the receipt of confirmation from the buyer in respect of the good or services. This change is to ensure that we continue to comply with the RBI Guidelines.
    Q: Will my customers be able to complete their checkout with their PayPal account balance?
    We're glad that you offer PayPal to your customers. Unfortunately, we will not allow customers in India to send money from their PayPal account balance starting 1 March, 2011. This means that your customers will need to link a credit card to their account in before sending you money with PayPal. This change is to ensure that we continue to comply with the RBI Guidelines.
    Q: The customers on my website are not able to complete purchase or pay via PayPal. Why?
    Starting 1 March, 2011, PayPal customers in India will not be allowed to receive payments for any export-related goods or services for an amount exceeding US$500 per transaction. If you are listing products greater than US$500 per transaction then you may need to seek alternative methods of payment. This change is to ensure that we continue to comply with the RBI Guidelines.
    Q: What is meant by receipt of confirmation from the buyer in respect of goods and services?
    As an exporter of products or services abroad, you need to ensure that your buyer has received the product or services as per specifications set out on your website. As an exporter of goods, you may withdraw the balance to your bank account in India upon reasonable consideration of shipping time and other clearances such as excise and customs for the destination country. As an exporter of services, you may withdraw the balance to your bank account in India upon receipt of payment from your buyer into your PayPal account.

    Read More on Paypal Blog :- https://www.paypal-apac.com/india/

    Hope these things will not ruin our business.

    Anki
     
    Last edited: Jan 28, 2011
    Wisden Writers, Jan 28, 2011 IP
    SEMrush
  2. abhijit

    abhijit Notable Member

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    #2
    i got the mail


    s part of our commitment to provide a high level of customer service, we would like to give you a 30-day advance notice on changes to our user agreement for India.

    With effect from 1 March 2011, you are required to comply with the requirements set out in the notification of the Reserve Bank of India governing the processing and settlement of export-related receipts facilitated by online payment gateways (“RBI Guidelines”).

    In order to comply with the RBI Guidelines, our user agreement in India will be amended for the following services as follows:

    1. Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services; and

    2. Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.

    We seek your understanding as we continue to employ our best efforts to comply with the RBI Guidelines in a timely manner.

    We regret any inconvenience caused to you and hope the advance notice will enable you to plan your future use of our services accordingly.

    Sincerely,

    The PayPal Team
     
    abhijit, Jan 28, 2011 IP
  3. x0x

    x0x Active Member

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    #3
    Just received this email:

    Effective from March 1:

    I am not from India myself, but my business partner is. We share the PayPal account, which is registered in India.

    Is this for real?


    EDIT: Apparently it is. https://www.thepaypalblog.com/2011/...ampaign=Feed:+ThePayPalBlog+(The+PayPal+Blog)
     
    Last edited: Jan 28, 2011
    x0x, Jan 28, 2011 IP
  4. salaxzar

    salaxzar Well-Known Member

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    #4
    dammit...not again :(
     
    salaxzar, Jan 28, 2011 IP
  5. WebBuddy

    WebBuddy Well-Known Member

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    #5
    yes friends, looks like it's the same mess as last year AND this time the time for withdrawal is mentioned as 7 days!!
     
    WebBuddy, Jan 28, 2011 IP
  6. Wisden Writers

    Wisden Writers Well-Known Member

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    #6
    Yes..I just withdrawn 2k from Paypal 10 mins back..and I dont want my money to stuck :X
    However its written that whatever it is, it will be effective from 1st March.. :)
     
    Wisden Writers, Jan 28, 2011 IP
  7. eyashwant

    eyashwant Active Member

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    #7
    So now you have to pay 2.5% fees for all payments to make as you have to use credit card and hence currency conversion and you have to take payments to bank at any currency rate at that time and you cannot hold and wait. So you lose in currency exchange too.

    And no more than $500! So only we have to do small projects or divide payment in to multiple parts which is frustrating to clients and shy for us to ask.

    Feedback appreciated friends.
     
    eyashwant, Jan 28, 2011 IP
  8. bloomsden

    bloomsden Active Member

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    #8
    Hi Friends,

    One Sad news again for us..just received this email from paypal

    You can also check this at:

    https://www.thepaypalblog.com/
    Code (markup):
    OMG :(
     
    bloomsden, Jan 28, 2011 IP
  9. brue.wayne

    brue.wayne Guest

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    #9
    eff you RBI X(
     
    brue.wayne, Jan 28, 2011 IP
  10. salaxzar

    salaxzar Well-Known Member

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    #10
    me too....damn :(
     
    salaxzar, Jan 28, 2011 IP
  11. IamJAX

    IamJAX Member

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    #11
    cant even use it for payment? :(
     
    IamJAX, Jan 28, 2011 IP
  12. olddocks

    olddocks Notable Member

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    #12
    has anybody seen this page: https://www.paypal-apac.com/india/. see the FAQs

    This means ..

    1. you cannot receive more than $500 in single transaction?
    2. you can only send payments from paypal if you have signed up your credit card. you will not be allowed to send payments from paypal balance.
    3. You must withdraw within 7days of receiving payment.

    what a mess!
     
    olddocks, Jan 28, 2011 IP
  13. ifreakz

    ifreakz Active Member

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    #13
    we can't keep money, nor send anyone or buy services .. now that's step 9/10 at paypals shutdown in India heh.
     
    ifreakz, Jan 28, 2011 IP
  14. jazz365

    jazz365 Peon

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    #14
    i wonder what penalties will be there if we wont withdraw within 7 days ??
     
    jazz365, Jan 28, 2011 IP
  15. Wisden Writers

    Wisden Writers Well-Known Member

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    #15
    Its hell.. So basically they want us to start working like individuals? Damn it.. I get all pain payments in thousands so what i have to do now? Ehh..

    This useless Indian Govt. will not let us do business, even after Paying Advance tax.
     
    Wisden Writers, Jan 28, 2011 IP
  16. iBoot

    iBoot Well-Known Member

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    #16
    :( same here
     
    iBoot, Jan 28, 2011 IP
  17. yahue

    yahue Peon

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    #17
    Yes, it's for real.

    Our rulers have decided that they can't allow the common man to have any simple luxuries, like maybe buying a book off of Amazon with their hard-earned Paypal balance.

    Meanwhile, crores of rupees are filling the banks of Switzerland with politician's loot.

    What is the point of the $500 limit when the RBI had already authorized up to $25000 in receipts for a single export? See http://rbidocs.rbi.org.in/rdocs/notification/PDFs/51138.pdf
     
    yahue, Jan 28, 2011 IP
  18. The Peoples SEO

    The Peoples SEO Well-Known Member

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    #18
    No surprise here, with all the scams that come out of India. Next adsense will ban users from india. The scammers in India have ruined it for the good Indians....
     
    The Peoples SEO, Jan 28, 2011 IP
    Padalda likes this.
  19. junkamaniac

    junkamaniac Active Member

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    #19
    I just got an email from Paypal and it says about some changes in the user agreement for Indian Paypal account holders(you must have received it too if you are Indian Paypal user).

    With effect from 1 March 2011, we are required to comply with the requirements set out in the notification of the Reserve Bank of India governing the processing and settlement of export-related receipts facilitated by online payment gateways ("RBI Guidelines").

    And hence Paypal have made some changes in their user agreement to comply with RBI.

    Read this https://www.paypal-apac.com/india/

    If the Indian Webmasters will not be able to buy services via Paypal (We Indian webmasters rely on Paypal), then is it gonna be the end of the Indian Webmaster?:(

    Need your views on this.
     
    junkamaniac, Jan 28, 2011 IP
  20. narayananblaze

    narayananblaze Well-Known Member

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    #20
    How to buy domains and pay for hosting? SHIT!
     
    narayananblaze, Jan 28, 2011 IP