Paypal FAQs Answered For Users In India

Discussion in 'PayPal' started by aakashshah123, Sep 18, 2006.

  1. bilalinamdar

    bilalinamdar Well-Known Member

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    #241
    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...
     
    bilalinamdar, Dec 19, 2006 IP
  2. bnts

    bnts Well-Known Member

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    #242
    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 ;)
     
    bnts, Dec 19, 2006 IP
  3. tomcatdss

    tomcatdss Peon

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    #243
    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?
     
    tomcatdss, Dec 19, 2006 IP
  4. Freewebspace

    Freewebspace Notable Member

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    #244
    I thinkthe name on your paypal account and that on credit card should be same
     
    Freewebspace, Dec 19, 2006 IP
  5. eXe

    eXe Notable Member

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    #245
    Yes, correct.
     
    eXe, Dec 19, 2006 IP
  6. Freewebspace

    Freewebspace Notable Member

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    #246
    that means they would not look for name is it?
     
    Freewebspace, Dec 19, 2006 IP
  7. bilalinamdar

    bilalinamdar Well-Known Member

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    #247
    bilalinamdar, Dec 19, 2006 IP
  8. CrazyBoy

    CrazyBoy Active Member

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    #248
    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!
     
    CrazyBoy, Dec 19, 2006 IP
  9. bilalinamdar

    bilalinamdar Well-Known Member

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    #249
    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... :D
     
    bilalinamdar, Dec 19, 2006 IP
  10. bilalinamdar

    bilalinamdar Well-Known Member

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    #250
    Finished Bank Formality.. Like forms for the IEC...They need BANK CERTIFICATE...
    Tired. Was not online full day...Gosh... Will report more..
     
    bilalinamdar, Dec 21, 2006 IP
    surfnearnzone likes this.
  11. Freewebspace

    Freewebspace Notable Member

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    #251
    after you finish it fully tell the procedures brother and continue your good work
     
    Freewebspace, Dec 21, 2006 IP
  12. bnts

    bnts Well-Known Member

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    #252
    Does that include withrawing funds from your own account in a Foreign Bank using the debit Card they provided you?
     
    bnts, Dec 21, 2006 IP
  13. Freewebspace

    Freewebspace Notable Member

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    #253
    foreign bank means you are telling HSBC?

    This means withdrawing funds via debit card for a bank account that is in US!
     
    Freewebspace, Dec 21, 2006 IP
  14. bnts

    bnts Well-Known Member

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    #254
    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?
     
    bnts, Dec 21, 2006 IP
  15. bilalinamdar

    bilalinamdar Well-Known Member

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    #255
    Will Also tell abt the E*TRADE Hold on... I am having a big list...
     
    bilalinamdar, Dec 22, 2006 IP
  16. Freewebspace

    Freewebspace Notable Member

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    #256
    how do you say this? do you have any proof to say that it is illegal to accept payments through paypal check
     
    Freewebspace, Jan 5, 2007 IP
  17. bnts

    bnts Well-Known Member

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    #257
    Thanks for this line. So, holding an offshore account is indeed legal for an Indian :)

    Cheers :)
    bnts
     
    bnts, Jan 5, 2007 IP
  18. Freewebspace

    Freewebspace Notable Member

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    #258
    I think paypal is not an offshore bank account so I there is no offensive in holding it
     
    Freewebspace, Jan 5, 2007 IP
  19. surfnearnzone

    surfnearnzone Well-Known Member

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    #259
    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.

     
    surfnearnzone, Jan 5, 2007 IP
  20. bnts

    bnts Well-Known Member

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    #260
    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 :)
     
    bnts, Jan 5, 2007 IP