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New PayPal Rules for India

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shavin

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Hi guys,

i received an email from paypal making few changes in rules for India users.

Dear xxxxxxxx xxxx ,


In compliance with Indian regulations, if you are selling products and services to customers globally, please review the following important information:


• Any proceeds or earnings received into your PayPal account from the export of goods and services should be withdrawn to your bank account within 30 days.


• While making the withdrawal please make sure you select the purpose code that best fits your business.


• Any proceeds or earnings received into your PayPal account from the export of goods and services may only be withdrawn to your bank account in India. This received amount cannot be reused for making purchases.


• If you would like to make purchases on any website that accepts PayPal, you can continue to use any credit card issued by a bank in India.

Lol, point 4,5 are freak.
 
73 comments
You're name is xxxxxxxx xxxx ? (this was a bad one, I know :( )

Well, that sucks, i'm not from india, but this sucks for everyone, less money for indians = less sales for everyone else...

Hope they fix taht...
 
Fucking nonsense things are happening with paypal in India..

Clearly I am shifting to moneybookers it's far better then paypal.

I have lost around $160-200 with paypal as accs gets limited.And In two days too my two accounts got limited.
 
I have lost around $160-200 with paypal as accs gets limited.And In two days too my two accounts got limited.
Click to expand...

Who told you to make 2 accounts ? paypal . Its a security feature if paypal finds same ip in 2 accounts then it will feel there is some strange activity in that account dont blame pp for limiting u account when its your fault :| . Also i agree our Government is the most Taxt Hungry Govt. A normal Guy may be giving 1 + Lack just for Tax :( thats nonsence they havent done anything
 
SO let me get this Straight,Even if I get the money From Lets say a RS account Sale i will Have To withdraw it To my BAnk In 30 Days and after 30 Days what?

EDIT:Any idea from the date these rules will be applied?

Code: 
http://www.webhostingtalk.com/showthread.php?p=6740809#post6740809
This Actually sends jitters down the spine for me...
 
• Any proceeds or earnings received into your PayPal account from the export of goods and services should be withdrawn to your bank account within 30 days.

wtf....:((
 
MRDJ said:
SO let me get this Straight,Even if I get the money From Lets say a RS account Sale i will Have To withdraw it To my BAnk In 30 Days and after 30 Days what?

EDIT:Any idea from the date these rules will be applied?

Code: 
http://www.webhostingtalk.com/showthread.php?p=6740809#post6740809
This Actually sends jitters down the spine for me...
Click to expand...



I think its 30 days from date of transaction.
 
Paypal is going shit. They are making Indian users suck
I got same mail and in my mail was mentioned that all money recieved as goods should be transferred to bank in 30 day from transaction

What about services ?
What the hell !
I am below 18 and cant get a credit card to pay transferred money for server costs ?
Now what ? I should ask my father to just letme use his CC each month !
Common, gather People and attack PP office in chennai or atleast mail them
 
shubhank008 said:
Paypal is going shit. They are making Indian users suck
I got same mail and in my mail was mentioned that all money recieved as goods should be transferred to bank in 30 day from transaction

What about services ?
What the hell !
I am below 18 and cant get a credit card to pay transferred money for server costs ?
Now what ? I should ask my father to just letme use his CC each month !
Common, gather People and attack PP office in chennai or atleast mail them
Click to expand...
Well i think its not paypal doing this its the Tax Hungry Indian Govt who just wants to take more money from the booming IT industry :O
 
@ashufootball i also havent got the mail but the mail these guys are showing is stating this is applicable to services also which include most of the Indian Webmaster,and most prob u'll receive a mail in a day or two including me.

Tbh this is like a Termination notice From a hosting Compnay and No access To the server For a backup :|
 
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