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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. blm2007

    blm2007 Well-Known Member

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    #21
    Ahhhh.....not again......I got the same email a few minutes back........

    The only thing I am concerned with is the first point, i mean can't we even transfer our funds from one account to another, or any amount that comes to our paypal account must and must be transferred to our bank account only, as for this I believe from March onwards, they will omit the service option from all indian paypal account using which we could transfer our funds to other account by mentioning something reasonable about the service or for what the money has been transferred......this is pure trouble i am seeing again......pls pls pls guys, share ur thoughts and strong opinions on this issue
    SEMrush
     
    blm2007, Jan 28, 2011 IP
    SEMrush
  2. Wisden Writers

    Wisden Writers Well-Known Member

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    #22
    There is nothing to do with Indian Scams here, its Poor Indian Govt, who keep searching for reason for not letting normal Indian Live Properly.

    They cant do anything with 2G Scam, CWG Scam, and so many other scams they will not let Common People Live.
     
    Wisden Writers, Jan 28, 2011 IP
  3. olddocks

    olddocks Notable Member

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    #23
    you can withdraw every week or go for automated withdrawal daily. Lets wait and see what paypal says :D
     
    olddocks, Jan 28, 2011 IP
  4. humm

    humm बहादुर बच्चा

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    #24
    Enough of the cut-paste happening.. We all have received this email.

    Now let's to the actual talking:

    1. Does this mean our currently balance needs to be transferred to our bank accounts before 1st March? - If not transferred what does happen to my current paypal balance?
    2. Means in future I can no way collect any funds in my paypal account?
    3. I need to pay via CC for any paypal related services used online and not from my paypal balance (which any which ways will not be available)!
    4. I cannot receive any payments above 500$?? Now does this mean at one go or I can receive maximum of 500$ payments per month?
    5. Can you receive more than multiple payments from the same payee for each transaction not exceeding 500$?
    6. What happens to my funds if I don't transfer it to my bank account within 7 days?

    --------------------

    I have asked this question to Paypal... please add more to it and contact Paypal. Let's work together and get this issue sorted out!
     
    humm, Jan 28, 2011 IP
  5. karthimx

    karthimx Prominent Member

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    #25
    Oops Why for India alone need to transfer in just 7 days?
     
    karthimx, Jan 28, 2011 IP
  6. kainrazial

    kainrazial Well-Known Member

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    #26
    rbi gudielines Shit
     
    kainrazial, Jan 28, 2011 IP
  7. ron_bun

    ron_bun Active Member

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    #27
    This is absolutely authentic don't care about that but its implications.. So if you receive $10 on 1st of a month you will have to withdraw by 8th of the month.

    But what if you don't? will it get refunded to the buyer? No clue!
     
    ron_bun, Jan 28, 2011 IP
  8. prabhakar

    prabhakar Member

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    #28
    What a mess! I was going to sleep after a happy day. This thing ruined it.
     
    prabhakar, Jan 28, 2011 IP
  9. Wisden Writers

    Wisden Writers Well-Known Member

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    #29
    Paypal have to solve this as with these conditions we cant continue with Paypal.

    1) Do i have to withdraw Payment of even 2$ within 7 days?
    2) Should I also have to ask my clients to send me Payments in parts on 500$?

    How is this possible as I am getting Payment for Services only.
     
    Wisden Writers, Jan 28, 2011 IP
  10. gsk6u

    gsk6u Active Member

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  11. honey

    honey Prominent Member

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    #31
    That is crazy. Period.
     
    honey, Jan 28, 2011 IP
  12. neoloves?

    neoloves? Active Member

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    #32
    I really think this is a great way to go about it.

    I anyways only receive money for services, so, I don't mind but how is this going to affect those in India who buy services and goods through PayPal. I use it to renew my domain name each year, so, I guess I have to buy from another source.

    At least, this time they didn't suspend services, and gave us a month long notice, so, that's noteworthy.

    Even the $500 cap is fine. One can charge weekly, and even daily depending on business volume.

    Overall, I'm not unhappy as of now. Let's see what happens in a months time when this is put into effect.


    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
     
    neoloves?, Jan 28, 2011 IP
  13. olddocks

    olddocks Notable Member

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    #33
    I wonder have you read the FAQs here: https://www.paypal-apac.com/india/

    1. New rules come into effect from 1 March 2011. You have a advance 1 month to plan for everything.
    2. yes, you have to look for alternate payment processing if you are receiving more than $500 per transaction.
    3. Dont worry. you can send payments from paypal but you must attach a credit card to send outgoing payments from paypal and the charge will appear on your credit card. Not from your paypal balance.
    4. Its per $500 per transaction only
    5. i think paypal will allow breaking up of multiple payments not exceeding $500 per transaction, but that depends on the arrangements you make with the sender.
    6. i dont think they will too strict about that, but make sure you withdraw any amount in your balance weekly (or once in 7 days) just to avoid any issues.
     
    olddocks, Jan 28, 2011 IP
  14. Wisden Writers

    Wisden Writers Well-Known Member

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    #34
    Govt. gave us 62nd Republic Day Gift.
     
    Wisden Writers, Jan 28, 2011 IP
  15. anandfrank

    anandfrank Peon

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    #35
    I received this info from Paypal.

    Dear xxxxxxxx,

    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
     
    anandfrank, Jan 28, 2011 IP
  16. karthimx

    karthimx Prominent Member

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    #36
    I contacted paypal to regarding few questions about sending and withdrawal funds. Lets wait and see what paypal reply.
     
    karthimx, Jan 28, 2011 IP
  17. anandfrank

    anandfrank Peon

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    #37
    What does that mean exactly?
     
    anandfrank, Jan 28, 2011 IP
  18. honey

    honey Prominent Member

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    #38
    No, you can not receive $500+ in a single transaction. Multiple payments should be okay. + if you have a domain registration or a hosting bill, that has to be paid via the CC, you can not SEND MONEY at all.
     
    honey, Jan 28, 2011 IP
  19. ron_bun

    ron_bun Active Member

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    #39
    1) Do i have to withdraw Payment of even 2$ within 7 days? Yes Gentleman
    2) Should I also have to ask my clients to send me Payments in parts on 500$? Absolutely! Otherwise the payment would be declined/with held/refunded to buyer
    How is this possible as I am getting Payment for Services only. PayPal is a privately held MNC and hence can devise rules or compliance measures as required by RBI. They have notified their customers with 30 days notice ahead of the actual implemmentation. Time to think about Moneybookers may be :)
     
    ron_bun, Jan 28, 2011 IP
  20. simplyjo

    simplyjo Well-Known Member

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    #40
    What does their new agreement mean , really ?

    If we have to make any purchases we cannot ? at all ? or not after 7 days.

    How do we pay people ? How do we make transactions which are integral for any IM'er or online biz ?

    If we don't want to withdraw , or don't reach minimum within 7 days, then what ? I am sure everyone is confused and full of questions.

    And is RBI really behind this ? I wonder whats wrong with our nation ! Jeez !
     
    simplyjo, Jan 28, 2011 IP