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« on: March 01, 2011, 07:42:27 PM »
pankaj
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A small leak can sink a great ship.




can't keep money in your paypal account for more than 7 dyas ....
another one is quite old states that more than 500$ payment is not feasible

i hope its not true ..  Huh? indian banks have b**bed heavily to RBI to take down paypal i guess  Angry  Angry
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« Reply #1 on: March 01, 2011, 10:57:33 PM »
Rao
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Not only that. You can not use the money in your Paypal a/c to purchase anything. You must have an international Credit Card and use it for purchases also. It is disgusting.
« Last Edit: March 01, 2011, 11:53:20 PM by anwar » Logged
 

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« Reply #2 on: March 01, 2011, 11:20:20 PM »
VC
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"You must have an international Credit Card and use it for purchases also. It is disgusting." Huh?

Please simplify, whatever purchases I've made through PayPal have always been charged to my ICICI Credit Card. I thought it was mandatory to possess an International Credit Card to register yourself with PayPal. Was / is there some other way? What is this 'PayPal Account' that is being referred to?

Cheers!
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« Reply #3 on: March 02, 2011, 01:05:37 AM »
Rao
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Dear VC,
Till now especially if you don't have a credit card you can ask your friend or relation who has one to transfer cash in US dollars using his international card and that amount would credited to your Paypal account and you can use those dollars to purchase online international sellers/shops like hobby king etc. and you could pay your friend in Indian Rupees.
But now due to new rules by RBI it would be no longer possible since all the funds you receive in shape of US $s will be credited to your bank account in Indian rupees only and you can't use those dollars to purchase online. for example I don't have an international Credit Card but my Son has several. So far whenever I want funds in US dollars I used to ask my son to send money in US dollars to my paypal acount and pay him in INR. I could keep those funds in US dollars as long as I want in my paypal acount and I could use those dollars to make international online purchases. But now I could not do that because all the funds credited to my paypal a/c will be converted into INRs as soon as received and would be credited to my local bank account which I linked to my paypal account. Now if I want to make online purchases I must have my own International Credit card  Bang Head Bang Head Bang Head and my bank is SBI and it has not started issuing them in my home town yet  Bang Head Bang Head Bang Head

I hope I completely confused you. Wink

---Rao.
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« Reply #4 on: March 02, 2011, 01:18:06 AM »
VC
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Rao Garu, you are right, I am completely confused. All I know is that your son is lucky to have a Father such as you. God bless!
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« Reply #5 on: March 02, 2011, 02:48:14 AM »
ujjwaana
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I am running for a Jasmine kind of revolution in the country.
This good for nothing government wont hunt down the Trillions parked in Swiss Banks and would create problem for people buying items on e-bay. Such incapable people. Sometimes I think how worse we would have been under Brit rule ? if even tad below Honkong, I wouldn't have minded  parting away my Fundamental rights and all that, which I don't think the system any longer guarantee to people (you argue, i can give several counts that the judiciary has played on us, and not simply failed)
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« Reply #6 on: March 02, 2011, 12:03:13 PM »
tg
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Hi Rao,
     You can get those travel cards which most banks give. THe card is loaded with a fixed amount (in $$) and you can use that for online purchases too. No need to wait for SBI. I know at least HSBC and SBI provide those

Ujjwana,
     You still have something called a vote.......
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B...b..but its useless ;-)))))))
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« Reply #7 on: March 02, 2011, 05:27:55 PM »
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I have been using paypal for online purchases for a long time. I have cards issued locally (Standard Chartered & HSBC) which are both registered with paypal. Never had any issues including with size of payment. I bought a Tx from a seller at RC Universe for USD 775, a few months back.
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« Reply #8 on: March 02, 2011, 05:38:03 PM »
ujjwaana
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@TG - for that you have to wait for 3+ years. But again one is worse than other choices.

@Sushil: It was till some time back. From 1st March 2011, these curbs are taking effect.
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« Reply #9 on: March 02, 2011, 10:30:26 PM »
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This is what they send me. Now I can't even spent what I earned. Not fair. For us who don't have credit cards. Head Scratching  Bang Head

Dear XXXX,

As part of our commitment to provide a high level of customer service, we would like to give you a 30-day advance notice on changes to our user agreement for India.

With effect from 1 March 2011, you are required to comply with the requirements set out in the notification of the Reserve Bank of India governing the processing and settlement of export-related receipts facilitated by online payment gateways ("RBI Guidelines").

In order to comply with the RBI Guidelines, our user agreement in India will be amended for the following services as follows:

   1. Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services; and

   2. Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.

We seek your understanding as we continue to employ our best efforts to comply with the RBI Guidelines in a timely manner.

We regret any inconvenience caused to you and hope the advance notice will enable you to plan your future use of our services accordingly. For further information, click here.

If you have any questions, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us’ at the bottom of the page. We sincerely thank you for your patience and continued support.


Sincerely,

The PayPal Team
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« Reply #10 on: March 03, 2011, 12:30:59 PM »
sushil_anand
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@Sushil: It was till some time back. From 1st March 2011, these curbs are taking effect.

Ujjwaana, from what I can gather, the curbs are only for RECEIPT of funds into a paypal account and do not affect purchases.

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« Reply #11 on: March 03, 2011, 11:03:11 PM »
Rao
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No, you can not use the funds in your Paypal account to purchase things online.

1. Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services.
« Last Edit: March 03, 2011, 11:08:55 PM by anwar » Logged
 

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« Reply #12 on: March 04, 2011, 04:30:37 PM »
sushil_anand
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What I meant was that locally issued credit cards CAN be used to make online purchases via paypal. I have just purchased some parts from HK, a few minutes ago, with no issues whatsoever

Ujjwaana, do try and find out where your problem lies. or have you just assumed that it cannot be used after March 01?
« Last Edit: March 04, 2011, 04:50:20 PM by sushil_anand » Logged

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« Reply #13 on: March 04, 2011, 07:30:17 PM »
xxkrishxx
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FLY HIGH...!!!



paypal is not verified by visa.may be thats y RBI made those conditions.
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