The Solution to the PayPal problem in India

what happens when we not withdraw money and not attach a bank account to our paypal account ? (after march )

 

Just pray they don't eat that money or maybe they will set to auto withdraw

 

Probably, Its get frozen. I mean, You'll not be able to get it or spend it, until you have a bank account attachment.

 

Can someone official from PP or RBI comment on all these numerous problems?

 

yes, there should be auto withdraw option.

 

Every year feb RBI is changing rules against paypal. Credit card payment through paypal makes more tax.

 

After seeing all these posts, I decided to get a Credit Card before March 1 as I don't own a one now.

 

Ok, I am only worried about that I can not send/pay using PayPal balance. I own credit card, so I know I can pay anyone. But main concern is I will have to pay extra money for currency conversation.

Eg. $100.00 = Rs.4,400.00 if I withdraw from PayPAL

now, if I pay someone $100.00 from credit card then I will have to pay approx Rs.4,700.00

 

From 2 Days,I kept my fingers crossed but I think we should wait till official announcement from Paypal-RBI as still it is 1 month left.I am praying to God that this rules dont get implement

 

One of the Serial entrepreneur Ankesh Kothari from Mumbai, India Raised voice against it and made a website www.ieoi.in to get a huge amount of people Raise their voice against this issue.

Fill the petition and raise your voice against RBI and hopefully things will change before March.

 

well, i'm using my brother's paypal for my payments, and paypal also gives interest to it, if you don't withdraw the money, i'll send over the money to my paypal in India when its huge amount.

 

Hello,

Indians are innovative. I think a programmer there could make this for India: LINK It is called "Paynearme".

Remake this program for Indians. It is a mobile solution, and requires no bank account.

 

from where the interest is coming ? via your dedicated paypal account managers

 

I never got any interest from paypal, hahaha...
Instead they took commission from every corner..

 

Hey my payoneer card was blocked on 7th Jan 2011 due to same RBI thingy, Is it working again?

 

No. As per my interaction with them, all prepaid Payoneer cards issued to Indian users remain blocked for use both in India and globally. The card is of no use now. They are trying to implement some alternative method like bank/wire transfer etc to disburse your balance funds. Further research of mine shows that its not only Payoneer, all other services which issued prepaid Mastercards in India also like Netteller etc are going to meet the same fate in coming days. Netteller is getting blocked on 14th Feb. Our RBI is doing overtime to disable all such channels.

 

Unfortunately in India these kinds of petitions dont help a lot

 

Right now we do not have any other way to raise our voice so its good to try..
Just don't think of one petition, think what can happen when there are lakhs of such petitions on the RBI doorstep..

 

I am also looking for solution but all depends on RBI now. Hope they will understand the problem of Indians and give some positive reply soon.

 

Guys, try to respect PayPal rules and everything will be fine.