According to Paypal's existing rules, the minimum withdrawal amount is $10. Now, the new rules states that Indian users will have to withdraw their money every 7 days. What if some user has only $1 in his account? Will he have to withdraw this $1 too? Won't the $10 limit apply to him?
Are you serious, $10 ??? Paypal will charge itself around $35 for withdrawing any amount from the paypal account. Lucikly here in China, we have the paypal account connected to the bank account, however paypal still charges $35 for each transaction.
a dedicated account manager from RBI will come and ask you politely to withdraw money so paypal wants to force make withdraw and -ve balance on all indian users lol
i dont understand this. Paypal says that i must withdraw any amount received within 7 days. So.. (i) Lets say i have $100 in my paypal before March 1 (ii) I make $5 daily from March 1. As per paypal instructions. (i) i should withdraw $100 immediately before 1 March and make my paypal ZERO balance. (ii) Then assuming that i made $50 total from March 1 to March 7. Am i supposed to manually to empty my paypal balance, once in every 7 days of the accumulated amount or i have to use settlement withdrawals? From what paypal is saying if i miss once, paypal will automatically to the withdrawals. These things arent clear yet from PAYPAL.
I wrote to Paypal twice. The first time I asked them what will happen if the balance is less than the minimum withdrawal amount - $10. Second time, I asked them what would happen if the balance is exactly $0.50. These are the two replies: