RC India

Instead of bringing back the 1.5 Trillion Dollers, RBI is doing a 'Chinndi Chor' act by putting more curbs on Pay pal. Below is the mail sent by Paypal to its users :



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.

Such a SHAM!

Dosent hurt us in anyways unless some of the sellers pay us back the money which very rarely heppens, It happened to me once when Helipross didnt have a stock of a particular item and they put that money back into the paypal account.

so I didnt bother to worry! Atleast paypal still works.

exactly Vinay. When some one pays you back, you pay the conversion twice. This thing is in practice for some time now I guess. Earlier on refund, Paypal used to put the amount in your PayPal balance - in US Dollars. Now they simple Credit back to your card account, going through another conversion charges from USD-INR.

And how about the Max limit of USD 500 ?  what if you got a good deal on a Futaba 14MZ at $600 ? you cant pay. Occasionally, but these curbs would be a pain in the a**

It says export and not import. If it applies on import, then will need to get one US paypal account and share it ;) I am planning to get an US Paypal Ebay account in my Bro's name soon.  ;D