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Dhruv
says

:shocked:

I just got an email from PayPal regarding the new user Agreement changes (taking effect from 1st March) and all i can say is What The Fu+k????

Their new user agreement says :

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 

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

I am here, Working hard and smart on Expanding my business/services, And all of a sudden this strikes.

I can’t imagine my life without PayPal.

India is already an Fuc+ed up Nation, and RBI is fuc+ing it even more… Is there anything we can do about this???

P.S : Sorry for using the work f++k, But i had to (this is the first time i used this word here)

Edit :

More info here : https://www.paypal-apac.com/india/

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Mocarg
Moderator
says

Hmm… i don’t see the problem o.0 Just send money to your bank account within 7 days…

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ThemeProvince
says

f+k is fine its when you replace the + with something else :)

409 posts
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Dhruv
says

Hmm… i don’t see the problem o.0 Just send money to your bank account within 7 days…

Read the first point again, We cannot use the money to pay for any services (or purchase any goods) :shocked:

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digitalimpact
says

So let me get this right…

1. They don’t allow you to purchase anything with Paypal online?

2. If you do a $1000 site for someone, they have to pay with 2 x $500 payments?

Hope that’s not what it means…

Also, they say you must transfer your money within 7 days to your bank account. But what happens if you don’t?

409 posts
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Dhruv
says

So let me get this right…

1. They don’t allow you do purchase anything with Paypal online?

2. If you do a $1000 site for someone, they have to pay with 2 x $500 payments?

Hope that’s not what it means…

Also, they say you must transfer your money within 7 days to you bank account. But what happens if you don’t?

We get screwed :crying:

Though inconvenient, I can get my clients to pay the amount in multiple times, But how do i pay others????

All my dreams shattered just by a fuc+ing Agreement (never saw this coming)

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VF
says

P.S : Sorry for using the work f++k, But i had to (this is the first time i used this word here)

Congrats for the first time usage.

RBI doing these things for better monitoring and keep the taxation process clean. The simple solution is open a current account and make SWIFT transfers for every month withdrawal.

Also I guess paypal will expand the limit of $500 later. But after requiring few documents / verifications I believe. Be happy that they announced it a month prior.

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gbs
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@ Dhruv : In my opinion, Reserve Bank of India has to set this rule to avoid the raising deficit in India balance of payment. And Paypal must follow that guideline from the Bank.

Are there any services you guys can use in India? Like Moneybooker, Payoneer, Liberty Reserve… ?

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Dhruv
says


P.S : Sorry for using the work f++k, But i had to (this is the first time i used this word here)

Congrats for the first time usage.

RBI doing these things for better monitoring and keep the taxation process clean. The simple solution is open a current account and make SWIFT transfers for every month withdrawal.

Also I guess paypal will expand the limit of $500 later. But after requiring few documents / verifications I believe. Be happy that they announced it month prior.

But This Isn’t Helping.

Ok, Somehow all these can be managed, But

How to pay for the services i Use??? How to send money to other users????

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VF
says

How to pay for the services i Use??? How to send money to other users????

hmm… you can still make payments through paypal via creditcard. Means local bank account > paypal > Receiver rather than Paypal account > Receiver.

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