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PayPal funding source (Netsafe vcc from HDFC)

Discussion in 'PayPal' started by MoneyHoney, May 9, 2012.

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  1. #1
    Hello everyone! What is the POS limit for netsafe vcc?Let me put it this way: I am having 4 lakh in my HDFC account right now & have an HDFC platinum int'l debit card.I also have a verified paypal acccount.So can i create a netsafe vcc worth 4 lakh & pay a paypal invoice of 3.8 lakh (7,000$) in a single go? I really need to complete this transaction asap so please help..If not,then what is the best option for me?Is there any other vcc or credit card which i can use to complete 3-5 lakh transactions in a single go via paypal? (Other than Entropay). Thanks in advance.
     
    MoneyHoney, May 9, 2012 IP
  2. Digital_shubhi

    Digital_shubhi Illustrious Member

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    #2
    Not sure about this. Contact their customer care. But from 1st may whenever I create a Netsafe card and use it, I get a message that this transaction is not authenticated by RBI new guideline. Don't know what is this new thing.
     
    Digital_shubhi, May 9, 2012 IP
  3. MorganPublisherInc

    MorganPublisherInc Peon

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    #3
    I dont think there is limit in amount to generate vcc but you should be carefull as its for one time use only so you have to select vcc amount carefully
     
    MorganPublisherInc, May 9, 2012 IP
  4. MoneyHoney

    MoneyHoney Peon

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    #4
    I contacted customer care but they don't have a clue. I just created a visa netsafe card & it worked fine for mobile recharge.Maybe the problem is with mastercard netsafe vcc or something?
     
    MoneyHoney, May 10, 2012 IP
  5. MoneyHoney

    MoneyHoney Peon

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    #5
    Yes i will definately be careful but i need to be sure if can create a vcc for like 4 Lakh.I know it's possible to do a 5 Lakh (10,000$) transaction in a single go using entropay vcc but they charge 5% on the load amount + hiked currency conversion rate which is not acceptable for me :(
     
    MoneyHoney, May 10, 2012 IP
  6. MoneyHoney

    MoneyHoney Peon

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    #6
    Hey i just checked & i got that ' RBI' message too. Here's an explanation to this which i found on another website.But the netsafe card works just fine :) "It is because the balance was not actually deducted from your account until you used the card. Balance is deducted from your account when you create a VCC but this is not a transaction as per RBI norms (not actual transaction). The balance is still in your account under a sub-account (VCC). When you use the VCC this is actual transaction as per RBI. The balance from your account is transferred to someone else's account "
     
    MoneyHoney, May 10, 2012 IP