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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. onemorepixel

    onemorepixel Well-Known Member

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    #161
    Does anyone have what exactly is this mail is ?
    SEMrush
     
    onemorepixel, Jan 28, 2011 IP
    SEMrush
  2. The Peoples SEO

    The Peoples SEO Well-Known Member

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    #162
    You don't need a credit card, just open a checking account, and use the debit card... or just link the bank account to the paypal account, it is very easy to do... just follow the steps... You're a perfect example on how some scamming scumbag, could ruin it for honest Indians...
     
    The Peoples SEO, Jan 28, 2011 IP
  3. freeshead

    freeshead Active Member

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    #163
    Guys ! Situation is bad but not worst.
    At least we can withdraw something. We can receive something.
    Thanks that situation is not like last year. We could not even withdraw anything nor we can send.
     
    freeshead, Jan 28, 2011 IP
  4. toxic1985

    toxic1985 Active Member

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    #164
    n paypal will loose the big money also.
    So many of India using paypal n if they stop using paypal, it will loose the commission.
    ha ha ha.
    RBI @#$^ paypal also.
     
    toxic1985, Jan 28, 2011 IP
  5. dpsubi1

    dpsubi1 Notable Member

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    #165
    if we have to withdraw $2, then they will take $1 as a withdrawal charges lol. already they are taking approx 2% as currency conversion charges (hidden).

    While submitting our accounts to tax authorities, they asked us to provide historic currency conversion rates that paypal uses, I have asked paypal to provide the conversion rates and they refused to provide any data. I have informed the same to Tax authorities too. They said they will take necessary actions against paypal.

    we need to find alternatives.
     
    dpsubi1, Jan 28, 2011 IP
  6. Safetyfirst

    Safetyfirst Active Member

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    #166
    damn paypal has become useless for me..i use all the money i get there for buying services and i can't do that now , paypal really sucks now.
     
    Safetyfirst, Jan 28, 2011 IP
  7. boomer_mitra

    boomer_mitra Active Member

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    #167
    I dont know why paypal keep doing disasters like this once every year? last year was flooded with stopped electronic transfer and now this.
    I wonder if RBI is really behind this.
    I do SEO and get paid for services like $900-$1000 per month..its not a problem for me because I'll ask my client to divide the payment in two or three transitions (hope this is allowed atleast! ).
    the real pain is that I wont be able to pay my workers for their services. This is really bad!
     
    boomer_mitra, Jan 28, 2011 IP
  8. kraran

    kraran Peon

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    #168
    How long it takes to get a HDFC CC guys if I don't have a bank account with them presently?
     
    kraran, Jan 28, 2011 IP
  9. xwhyz

    xwhyz Active Member

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    #169
    all our indian netas happily stash their cash at swiss banks and they will not let us run simple businesss legally by such measures!
     
    xwhyz, Jan 28, 2011 IP
  10. mechanix

    mechanix Well-Known Member

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    #170
    I think most Indian users have a C/C attached and its pretty simple to secure a C/C here. But the biggest issue is the Paypal conversion rate. At the time of replying, Paypal gives rs 44.2 for every $1 withdrawn while it charges rs 47 for every $1 used from my C/C . Paypal charges an absurd 1.8% surcharge on all currency conversion transactions inward or outward. So, by paying bills via C/C, we lose about rs 2.8 per $1 or around $65 for every $1000 spent. Something that is totally avoidable.

    Maybe, its time that RBI shows Paypal the rod wrt Currency Conversion.
     
    mechanix, Jan 28, 2011 IP
  11. Card

    Card Well-Known Member

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    #171
    You can get an HDFC CC on Fixed Deposit on an amount of 40000 RS if you dont have bank account with them.

    I have one question
    Is this a Phishing email like last year Paypal sent to all Indian Paypal users and said that they did not sent email and these all rules were meant for South African users and not for Indian Paypal users.
     
    Card, Jan 28, 2011 IP
  12. hexadesigns

    hexadesigns Peon

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    #172
    RBI Forces Paypal To Amend User Agreement For India [More Regulation]

    Paypal has amended its user agreement for India, and it shall be effective from 1st March, 2011.

    Here is the impact of amendment:

    PayPal will not allow users in India 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.


    PayPal will not allow Indian users to keep money in 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.

    Customers in India will NOT 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.

    Overseas customers will not able to complete purchase or pay via PayPal for amounts above $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. 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.

    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.

    Paypal started sending the amendment message over email & through their blog to all Indian users starting at 12:00 PM tonight. Expect more chaos tomorrow morning, but thankfully, Paypal has given 30 days advance notice to all users to adapt according to the new circumstances.

    Their email reads …

    “Dear user,

    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”


    So folks, what are you going to do? I believe this is the strictest RBI decision with Paypal so far.
     
    hexadesigns, Jan 28, 2011 IP
  13. bloomsden

    bloomsden Well-Known Member

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    #173
    No they clearly mentioned this in their blog also:

    https://www.thepaypalblog.com/2011/01/advanced-notice-for-changes-to-paypal-user-agreement-for-india/
    Code (markup):
     
    bloomsden, Jan 28, 2011 IP
  14. GURU4SEO

    GURU4SEO Well-Known Member

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    #174
    Hello
    today i got a email from paypal that they are changing paypal user agreement for indian users
    Here is copy of email content
    "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:
    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


    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.
    "
     
    GURU4SEO, Jan 28, 2011 IP
  15. mark1230

    mark1230 Well-Known Member

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    #175
    well i am just confused whether we will be able to pay for services like hosting etc from paypal or not...
     
    mark1230, Jan 28, 2011 IP
  16. GURU4SEO

    GURU4SEO Well-Known Member

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    #176
    I think only withdrawal will only option for us
    we will need to buy such services from credit card or choose other payment processor
     
    GURU4SEO, Jan 28, 2011 IP
  17. kollam003

    kollam003 Well-Known Member

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    #177
    Another bad news, atleast one thing they did , a 30 month notice is given , usually they do it and then say, Changes in paypal :) for the worst?
     
    kollam003, Jan 28, 2011 IP
  18. mark1230

    mark1230 Well-Known Member

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    #178
    this is really bad how will we buy domains and pay for hosting ???????? i think these rules will be for every payment processor..so we really need a credit card now to get things going
     
    mark1230, Jan 28, 2011 IP
  19. Safetyfirst

    Safetyfirst Active Member

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    #179
    No its for real , i got it in both my account's email and they have also mentioned it in their website.
     
    Safetyfirst, Jan 28, 2011 IP
  20. Rohit patel

    Rohit patel Prominent Member

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    #180
    Well same issue again appear on the eve of February which is Black Month for Indians! Good thing is at least they didn't suspended service or withdrawal option!

    1. Now on $500 Limit, We only have solution which is we need to take payments in parts so it's not a big issue. Yes fees will be higher but at least we can get money as we have no other payment option which we can use for business.

    2. 7 Days withdrawal : If you read carefully, PayPal mention upon buyer confirmation so I guess PayPal will implement new system where buyer can confirm he received service or goods.

    3. On Sending, Yes it will be big mess as we can't send money but I'm sure PayPal come out with some solution for us.
     
    Rohit patel, Jan 28, 2011 IP