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Indian paypal users, check your paypal limit.

Discussion in 'PayPal' started by aditya_sfs, Mar 9, 2007.

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  1. Disguised

    Disguised Notable Member

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    #41
    This is some serious problem. This is totaly ridiculous. Paypal is about to open an office in India and now this problem. Can't believe. :rolleyes:
    SEMrush
     
    Disguised, Mar 9, 2007 IP
    SEMrush
  2. onedollar

    onedollar SEO Consultant for Hire

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    #42
    yeah, you are right - I misread it it seems:)
    still if paypal would have planned any changes, everyone would've got an email - most likely to be a glitch.
     
    onedollar, Mar 9, 2007 IP
  3. Raj Kumar

    Raj Kumar Prominent Member

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    #43
    Yeah adi same thought and if this is right then ppls use paypal like "Use And Throw" bcoz no mean of that paypal after withdrawal of $3000 :(

     
    Raj Kumar, Mar 9, 2007 IP
  4. arvind_srivastava

    arvind_srivastava Well-Known Member

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    #44
    Firstly i would like to point out that please do not panic in this moment of distress.
    Secondly wait till tuesday for paypal to rectify this error (incase this really is an error)

    Incase this is an error it will be recitified by paypal soon (I guess paypal offices in US will remain closed on Saturday and Sunday so I am advising all fellow members to remain calm till Tuesday)

    Also as per my talks with my CA there has not been any regulation/bill passed till date by RBI that states such a utter nuisance.
    Even if such a regulation has been "provided" in the budget (and it has bypassed my eyes) to become a law it needs to be presented in the Lok Sabha as a "bill" and get passed. This too has not happened.
    Even if it has been passed by two-thirds of the majority and has become a law it is not applicable for this financial year (ending March 31st 2007)

    So we still have 22 days to move funds out of paypal before the next financial year starts.

    If by Tuesday this error is not rectified move Paypal funds out of your accounts through exchanging it for INR (We have a "withdrawl limit" but our "sending limit" still stands tall, so we can send $$$$ to any third party and get it exchanged from there)

    My take to use Xoom for transferring Paypal funds to INR and get it deposited in your bank accounts.
    Just leave what ever amount is neccesary for "survival" in your Paypal account and transfer the rest via Xoom.

    How to use Xoom:
    Open an account with Xoom
    Transfer the paypal funds to Xoom and recieve your funds in INR in your bank account (Takes 2 days for private banks and 3 days for Government banks)

    Points to remember:
    The name on the paypal account and the name on the bank account to which you want to transfer funds using Xoom should be the same.
    Use code "XOOMLATINO" if this is your first transaction with Xoom. This code is valid only for the first transfer. For the second transfer use code "Jim" to transfer money to avoid Xoom charges.

    Thirdly if you have huge funds parked in paypal and you need to use Xoom again and again
    Register on Xoom again witha new email id and transfer funds to Xoom using a new email id (We can add 3 email ids to each account)
    This way we can avoid Xoom charges for 6 transactions using the 2 codes.

    Although I don't like to break rules but these are times of high distress for us all and therefore here is the last measure that you should resort to:
    Transfer paypal funds to your freinds/relatives paypal account (living in US,UK or else where overseas) and ask them to send in funds to you using Xoom
    This is termed as "remittance" and is not recommended but I guess we are out of choices right now.

    I hope this helps

    Al
     
    arvind_srivastava, Mar 9, 2007 IP
    aditya_sfs, dotcompals and Mr_Kumar like this.
  5. amitpatel_3001

    amitpatel_3001 Results Follow Patience

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    #45
    Thanks for the update will try to wait till tuesday and hope it goes well
     
    amitpatel_3001, Mar 9, 2007 IP
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  6. aditya_sfs

    aditya_sfs Peon

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    #46
    Thanks arvind. You are always helpful in such matters.
     
    aditya_sfs, Mar 9, 2007 IP
  7. Mr_Kumar

    Mr_Kumar Notable Member

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    #47
    Thanks arvind, I think Xoom can help us.
     
    Mr_Kumar, Mar 9, 2007 IP
  8. Rushh

    Rushh Well-Known Member

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    #48
    I still believe this is a mistake, it would be absolute foolish to have a 'total withdrawal limit' for a verified member.

    Either there is another step of verification which has to be completed in addition to adding a cc, or this is a mistake.

    Maybe they are doing this, because the number of ppl verifying their a/cs with VCC are increasing and they might not be liking that fact.
     
    Rushh, Mar 9, 2007 IP
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  9. aditya_sfs

    aditya_sfs Peon

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    #49
    Well i think now paypal may make it compulsary for Indians too to add a checking account or a bank account like the US guys do.
     
    aditya_sfs, Mar 9, 2007 IP
  10. Rushh

    Rushh Well-Known Member

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    #50
    True, thats a very possible thing.
     
    Rushh, Mar 9, 2007 IP
  11. amitpatel_3001

    amitpatel_3001 Results Follow Patience

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    #51
    Seller Reputation: (26242) Verified Buyers
    Account Status: Verified
    Account Type: US Business
    Account Creation Date: Jun. 29, 2003
    PayPal Member For: 3 years 8 month

    Wow Xoom has a awesome paypal rating :eek:
     
    amitpatel_3001, Mar 9, 2007 IP
  12. arvind_srivastava

    arvind_srivastava Well-Known Member

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    #52
    Banking rules in both India and US states if any new precautions/measures need to be taken with any banking operation (increase in lending rates, increase in deposit rates etc) then the customer should be informed about it in advance.

    Ghar ki kheti nahi hai jo mann mein aaya kar diya.

    If you want to make new rules, go on but atleast infom us about the same.


    Al
     
    arvind_srivastava, Mar 9, 2007 IP
  13. feb.25.07

    feb.25.07 Peon

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    #53
    I agreed. May i request my friend Stephen from chennai to check at the paypal office in Chennai this Monday and update us all.

    This is alarming situation for all, but we may also have to keep our options open to other options like Xoom and Remittoindia. We all need to definately send an email to Paypal asking them to revert back to the old limit. I urge all my Indian friends to join hands in this move.
     
    feb.25.07, Mar 9, 2007 IP
  14. Rushh

    Rushh Well-Known Member

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    #54
    Just mailed them , let them get over 10k customer service mails on the same topic :p

    I still have a feeling this is a glitch, i hope its not wishful thinking though :(
     
    Rushh, Mar 9, 2007 IP
  15. arvind_srivastava

    arvind_srivastava Well-Known Member

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    #55
    As far as I know, paypal still doesn't has an office in India.
    The only way to contact them is through email and phone

    Email: they won't answer emails
    Phone: Today is friday and they will remain closed for the weekend


    Al
     
    arvind_srivastava, Mar 9, 2007 IP
  16. chandra.seo

    chandra.seo Peon

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    #56
    it's very bad news for all indian, thanks for shareing knowledge
     
    chandra.seo, Mar 9, 2007 IP
  17. stephenhacking

    stephenhacking Peon

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    #57
    http://economictimes.indiatimes.com...ia_centre_in__Chennai/articleshow/1142635.cms

    My dear friend paypal is opening an office in chennai and i happened to see their commercial board somewhere.
    Il go check it out tomorrow and confirm, if the office is officially opened it will be easy for verification.

    EDIT: Even though they are only starting full scale operations by august, i think they have a small team here. I need to check it out and confirm by monday
     
    stephenhacking, Mar 9, 2007 IP
  18. The Webmaster

    The Webmaster IdeasOfOne

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    #58
    They are planing to open an office in India, but it is not operational yet!!
    The nearest Paypal office is in Singapore..

    I think its a glitch only, because if they are going to limit the withdrawal for Indians, all it will do is to force every Indian business to open new unverified accounts and Transfer money to that account from the main verified account to withdraw.. It will be heck lot of work but one will easily over rid the limit.. so whats the gain of such rules??
     
    The Webmaster, Mar 9, 2007 IP
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  19. stephenhacking

    stephenhacking Peon

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    #59
    Update:

    4 days ago i tried to withdraw funds from my paypal account via Xoom service to my icici account and the funds havent reached as of now.
    The Xoom guys say its because paypal cancelled the payment, i have no idea what to do now..
     
    stephenhacking, Mar 9, 2007 IP
  20. Freewebspace

    Freewebspace Notable Member

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    #60
    Yes it is a glitch

    If you are unverified Indian paypal user !

    you can withdraw $150 for any month and maximum withdrawal limit is $2500

    but if you are verified

    you can withdraw $500 and limit is $3000

    from this I can say this appears to be a mistake!

    also use Xoom it is an easy way!
     
    Freewebspace, Mar 9, 2007 IP
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