Hello, I am an Indian and I have been using ICICI credit card to send money for my seo requirements. Today when i paid for some article writing i got the following message. "Dear Customer, Trading of foreign exchange in domestic and overseas markets is prohibited on your debit card under existing FEMA regulation." Although i used credit card for payment, i am little worried about this message, i fear to contact ICICI on this, as they may freeze my CC and all my business will be stopped. I hope there is no headache again coming from RBI as they have been doing in last 1-2 years. Anyone have some information on this, kindly suggest me what to do. Thanks.
Hi, I'm also an Indian and i have been making PayPal transactions. I have also got the same message today. But i don't think it is related to the account. I just called my ICICI branch and they said - it is sent to many customers in India and they simply want to say that " DEBIT CARDS SHOULD NOT BE USED FOR TRADING FOREIGN EXCHANGE" So no worries, be cool and continue doing your business ! -- Regards Krish.
That's good. But another sad news came out in the form of Google Penguin update. Online business has now become too risky and tricky.
I think indian government wants to kill all the small freelancers now, they dont want us to work peacefully. I think they should develop nice payment process to make our work easy rather than making it difficult to work
Never had any problems with HDFC... i pay on a regular basic. Though HDFC sucks in customer service and issue resolution, i haven't heard anything about this topic.