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Paypal Problems in India

| January 29, 2011 | 5 Comments

PayPal has again changed its terms of conditions for Indian’s, this is really a big problem for all the Indian buyers and sellers. From March 1st, these below restrictions are going to show up. PayPal is a major way to make transactions for all kind of small and medium range of businesses. But we can’t blame PayPal, because these all restrictions are given from RBI.paypal india Paypal Problems in India

  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.

So this notice has given to all the papal customers, so if you want to plan your plans, then better start thinking now.

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Tags: Technology

Category: Tech News, Tips

About the Author ()

Arafath Hashmi is a Blogger from 2007 and he wrote 700 and above articles for solvater.com, He is a Senior SEO Analyst.
  • http://solvater.com/2011/01/paypal-problems-india/ small business owner

    I bang on the back to the paypal making all this nonsense……from one year.
    Get out ….

  • V Dev

    A better alternative is http://moneybookers.com/app/ – no restrictions (yet!), no deductions from monies received into account, withdrawal attracts a small fixed fee and no ‘preconversion’ and transfer (as practiced by PayPal, at discounted market rate) – the money is converted at the receiving bank at then prevailing market rate. Obviously, no one should now be dependent on PayPal when there is a cheaper, better alternative.. All the best.

  • Suresh Nair

    My Solution to Paypal – RBI issue.

    I am Suresh Nair from Kerala. I have been using Paypal for the last 8 Years. They are one of the best payment processors. I cannot compare paypal with other payment processors like clickbank, 2checkout etc, because most of our sales are processing by Paypal. I have provided 2 payment options and 95% of them are choosing Paypal. So I cannot think about an alternative. The recent issues are because of ‘outdated’ guidelines from RBI. First of all, paypal is not a bank but a payment processor. So they have to make new rules/guidelines for payment processors.

    2 months back I found a real solution to this problem: I became an NRI and all the problems were solved. I registered a business in Malaysia and I have a Paypal account which is attached to my Malaysian bank account. Then the fund will be transferred to my Indian (NRE) account. No worry on paying Income taxes here in India since I am now an NRI and NO income tax in Malaysia for foreign income.

    So Paypal doesn’t suck, but RBI sucks!

  • Mann

    I’m owner of a website and it’s growing $500/pm but i’m in big trouble because of fu**ing Indian PayPal need credit card to do most things….they’re really an ass holes! Mother F****r RBI!

  • Hari Yellapu

    hello All, this is Hari. I have solved the problems of
    paypal in india. We are providing Paypal credit cards and Paypal Credit at
    cheapest rates. You can purchase any number of dollars from us at zero forex
    rates. The credit will be instantly transferred to the paypal account.
    We are also providing Virtual Credit Cards through
    which you can save the commission you pay to paypal to make payment. The
    virtual credit card is online and you will just get the card number, cvv2 code
    and other details. 
    The virtual credit card is accepted in the all the
    credit card payment gateways of Websites. 
    So if you wish to have a card then call me on
    9702754658 / 8108410146. 
    if you have any queries then write me on
    queries@semtechgroup.in / yellapuhari@gmail.com

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