Paypal FAQs Answered For Users In India

Today i got the IEC form.. Reading through it reveals that it Compulsary needs a PAN Card.. Also i am going to tell each and every thing but let me first do the process my way... (Yet no agent involved)
I contacted my CA (Gosh he doesn't know what is IEC...lol)
Than actually the guys are very uninformative... They doesn't provide much info..Also a confusing question "WHAT IS PAYPAL BTW?"
LOL
will still process further. LEGAL...

 

Lol..42 is too less...anyway best tip is check before you withraw money from paypal. It's always worth waiting a day or two if the rate is getting too low

 

Hi,
If I am clear, we can get verified even by using a friend's or even a stranger's credit card, if he were to let us use it. we only have to enter the transaction code on his CC statement in the paypal account area. Is that right?


Has anyone had any problems with their CC after entering the credit card details there and getting verified?

 

I thinkthe name on your paypal account and that on credit card should be same

 

Yes, correct.

 

that means they would not look for name is it?

 

LoL
Even if u use ur friend CC u will need the statement. Which comes in 30 days (Monthly statement..) Better u should get it verified in 20min
http://forums.digitalpoint.com/showthread.php?t=193945

I really HATE time taking process......TIME = DOLLAR$$

 

Let me tell you that withdrawing foreign funds through debit cards is illegal in India and can get you arrested (non bailable offence), Have a nice day!

 

What's that ? We are talking abt Verification method... And u are talking abt Withdrawal... Please read every thing before post... You know in india they have some thing called IEC if u do know than post and quote posts further... We were just talking abt it...


If u have a IEC code than no problem in foreign Business...

 

Finished Bank Formality.. Like forms for the IEC...They need BANK CERTIFICATE...
Tired. Was not online full day...Gosh... Will report more..

 

after you finish it fully tell the procedures brother and continue your good work

 

Does that include withrawing funds from your own account in a Foreign Bank using the debit Card they provided you?

 

foreign bank means you are telling HSBC?

This means withdrawing funds via debit card for a bank account that is in US!

 

I was indeed meaning a Bank Account in US like eTrade etc. The address mentioned there is the actually local address. Say if you have a US Account with an Indian Address, then can't you withraw directly from ATMs in India using your Debit Card?

 

Will Also tell abt the E*TRADE Hold on... I am having a big list...

 

how do you say this? do you have any proof to say that it is illegal to accept payments through paypal check

 

Thanks for this line. So, holding an offshore account is indeed legal for an Indian

Cheers
bnts

 

I think paypal is not an offshore bank account so I there is no offensive in holding it

 

I guess it is not illegal. Payapl is a merchant account provider. It only holds your money recieved from someone. So i guess it is legal. Just a gut feeling.

Anyhow paypal are a verybig entity. there legal stuff and terms are mind boggling. So i guess they must have something before offering indian people with check withdraw option.

They would'nt want to fall in any legal soup either. Just my opinion.

 

I was infact talking about an Offshore Bank Account and not Paypal. As for reference, CrazyBoy in his post above said that it is illegal for Indians. But I am glad to know that it is indeed legal