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

Instead of complete ban on spending, Paypal should allow some petty expenses of say 200$ each month. Now 200$ can't be black money nor it can be terrorist fund.

 

No , even i haven't attached CC to my account. just sent money to my friend yesterday using funds in my account.

 

I am worried about Paypal have put regulations about not using Paypal balance to buy online From March 1 and we sent payments today to other Paypal accounts using Paypal balance.Will our payments which we sent via Paypal balance be reversed?

 

here people are just trying to test. Thats why i tested with 1 $ for safer side

 

I don't think so but wait and watch

 

Don, you mean to say paypal to paypal from india to india was & is still allowed?

 

Payments from one Paypal Indian user to other Paypal Indian user using CC were blcoked last year and Payments using Paypal balance was blocked this year.So If an Indian wants to pay to another Indian,then they have to use alternatives like Moneybookers or Alertpay to pay each other

 

I was under impression that paypal to paypal from india to india (without cc) was blocked since long time. then how come some guys are making payments from india to india?

 

You are wrong, its working for me fine. I am sending payment to many freelancers and friends in india using paypal balance ( not cc )

 

The people reporting success earlier in this thread need to take into account that Paypal Inc works as per PST and NOT as per IST

So although it's @ 11:45 AM on 1st March in India, it's still just 10:15 PM PST on the west coast.

Once it's past mid night on the PST clock, i think the restriction would automatically apply.

Paypal may simply grey out the Send Money option for Indian users or it may start reversing payments sent via Indian PP accounts.

It's not Paypal's fault - they are just complying with new restrictions / guidelines stipulated by the RBI ( Reserve Bank of India )

Each year, the finance ministry & RBI jokers come up with such seemingly ridiculous restrictions in complete disregard to the SME & Freelancers community at large.

I hope Paypal can negotiate with the ignorant finance ministry bureaucrats and sensitize them about plight of Indian IT SME & freelancer community to nullify these absolutely senseless new restrictions.

 

I can confirm this screenshot/message. Just got the same when I logged in!

Automatically transferred to your bank account.

 

its paypal fault. RBI not told any weekly withdraw / 500$ limits to implement

 

how it can happen. some people not added bank accounts

 

For those who wants to track USA time

 

It's not fault of RBI. RBI rules done many years ago. " Any payment processor which keeps money in account more than 7 days, should provide interest for money and should declare as bank" .

Paypal is not willing to declare as bank, so its just washing its hand by this rules.

 

I also got the same message:

 

As per my last communication with paypal, I was told:

Now seriously 'No Idea' about 'No Bank Account', maybe transferred to CC attached?

 

Then what about the fees when the amount is less than 7000 Rs?