Got this email from Paypal:-

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• Any proceeds or earnings received into your PayPal account from the export of goods and services should be withdrawn to your bank account within 30 days.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• Any proceeds or earnings received into your PayPal account from the export of goods and services may only be withdrawn to your bank account in India.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

What the hell fucking Indian regularities wants? Are these rules imposed by US regularities on US paypal users? Do Indian Govt wants us not work online? what the hell they wants?

We can't use the balance to pay and we need to withdraw amount within 30 days time frame. More news coming soon my Indian guys.. just wait and watch what these fucking Indian politicians impose on us.

yes I saw that. But I never sell any goods. But still very bad for future. They are killing their business bcoz of RBI

@ jamesrocky Read it carefully dude. it is not only for goods but also for money earned by services

• Any proceeds or earnings received into your PayPal account from the export of goods and ***services*** may only be withdrawn to your bank account in India.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.

Wtf indian govt. wants to do..they are spoiling our IM business ..

Yes just seen the mail.May be they want us to spend the money only in our country.But in one way its good but for those doing IM this will be a major problem.

Any proceeds or earnings received into your PayPal account from the export of goods and services should be withdrawn to your bank account within 30 days.

What if we fail to withdraw within 30 days? Does it mean that we need regularly withdraw money irrespective of the transfer rate?

For example if i get $100 on 1st of April then i need to withdraw it by 30 April.

and if i get the $200....I need to withdraw that by 1st of May?

I am little bit confused about this rule?

can anyone explore it?

.

thats a major setback for all indians like us who are actively doing internet based purchases. i am puzzled what the hell RBI wants to show?

Yeah I just read the email.. This is fucking insane How can this be possible to withdraw all money on every 30th.. We have to make many payments and purchases, and I know many people who don't have CC. So, they can't even make any purchase?? Its going to kill our business.

I think, amount received in paypal other than our country, should be withdrawn within 30 days. Only those money should not be used for making purchase online.

If we receive money in Paypal from our fellow indians, then we can use it to make the online purchases.

I understood like this. Correct me if i am wrong.

Further if i don't have any credit card, what can i do then?

Originally Posted by bigbuddy

I think, amount received in paypal other than our country, should be withdrawn within 30 days. Only those money should not be used for making purchase online.

If we receive money in Paypal from our fellow indians, then we can use it to make the online purchases.

I understood like this. Correct me if i am wrong.

Further if i don't have any credit card, what can i do then?

ya thats right.. But most payments aren't from India.

How come I did,nt get the mail

not received any mail from paypal....

this is the result of incompetency from RBI and the Indian regulators and we have to pay the price for it. I have closed all my credit cards(even the one that was attached to my paypal account) and now wondering how i am going to pay for my hosting and other things in the future.

Ok Guys, I mail PP about the issue and got this reply.

Dear xxxxxxxxxx,

Thank you for contacting PayPal.

I apologize for the inconvenience. While we are verifying the legitimacy
of the e-mail you received, I advise that you forward us a copy of the
e-mail to spoof@paypal.com. Rest assured, you will be notified by us if
the e-mail you received is from PayPal or not.

We know situations like this can be difficult, so thanks for working
with us. If you have more questions, visit our Help Center by clicking
"Help" in the top right corner of any PayPal page.

Sincerely,
Charmen Dey
PayPal, an eBay Company

And then this:

Hello xxxxxxx,

Thanks for forwarding that suspicious-looking email. You're right - it
was a phishing attempt, and we're working on stopping the fraud. By
reporting the problem, you've made a difference!

Identity thieves try to trick you into revealing your password or other
personal information through phishing emails and fake websites. To learn
more about online safety, click "Security Center" on any PayPal webpage.


Every email counts. When you forward suspicious-looking emails to
spoof@paypal.com, you help keep yourself and others safe from identity
theft.

Your account security is very important to us, so we appreciate your
extra effort.

Thanks,

PayPal

Seems like a big phishing attempt.

i am not indian but don't like paypal either. i do conduct a lot of business with indians though. is there a good alternative that we can promote amongst internet marketing people? like epassporte or something?

I guess PTC becomes more and more logical everyday

Originally Posted by TheMatrix

Ok Guys, I mail PP about the issue and got this reply.



And then this:



Seems like a big phishing attempt.

PayPal always send email in the name of the PayPal account holder and the email is also from paypal. So i dont think its an example of phishing as i got the mail in my name!!!

nothing is as popular as paypal in india.
man we dont have any alternative as goog as paypal

Dude, why don't you all try Moneybookers? Sure as hell ten times better than PayPal. I trust these guys with my money.

They support almost every country on earth and you can withdraw funds easily too. Too bad not many people use Moneybookers - something I don't understand, considering how easy they are to sign up, fund account and best of all, their customer support is top notch!

We all know how PayPal likes to take account holders' inquiries and shove them up their ass*s.

Originally Posted by RamChaturvedi

PayPal always send email in the name of the PayPal account holder and the email is also from paypal. So i dont think its an example of phishing as i got the mail in my name!!!

I am also wondering the same thing. Why anyone would send a phishing e-mail with no link to his site? ( there is no link to any site in the e-mail).

If it is phishing email, how come they know my paypal name with my lastname?

isn't there something called paisapay in India that's a paypal alternative?

Really very sad to hear it..
I think PP want us to get out...

nearly they suck Rs.2 for conversion rate...
also they suck .64$ as service tax for each 10$

is their any other alternatives?
If available why cant to switch over to some other companies?

I think its difficult to switch over since many users use PP globally...

any ideas?

please help

Hey guys - I sucessfuly paid for JUMBLO ( VOIP service) with the amount that was with me which I earned through Associated Content. Am I missing something here ?

If it's not obvious or clear to anyone why they are doing this... then let me explain.


The Indian government wants to have records of all revenues earned by its citizens. Paypal is not an Indian company so it does not have to provide financial records of its users to the Indian government.

BUT, because the indian government forcing the banks/paypal etc to work in this way, they can have proper income records for taxation purposes.

So you sell products online, and make good money doing it, the money goes into your paypal account, and then MUST go into your Indian bank account under the proper classification. Now the government knows how much money you earned. Then you can spend your money right from your bank account or credit card, through paypal.


What they are trying to do is prevent people from skipping out on paying taxes by earning lots of money online, and then spending the money from paypal to buy goods/services, without the Indian government getting a chance to tax it at all.




It's just like if you're a US Citizen, paypal files with the IRS any earnings you make over $600/year.

Apparently I too got the email and I am not sure but I suppose it is a scam. Take a look:

Normally Paypal use this email address for customer service and important notifications: paypal3@info.paypal.com or service@paypal.com
and for payments and other notifications this: service@intl.paypal.com

And this email has come from: paypal@paypal.com

Now, I checked the mail header:

all the other email has
Return-Path: <paypal3@info.paypal.com> or service@paypal.com etc

while this one has:
Return-Path: <v-cmjddj_ddfjkaolp_kiahdml_kiahdml_a@bounce.mkt2566. com>

Now go to Silverpop Engage i.e. bounce.mkt2566.com and check what is there. Do you think Paypal would be using an unidentified email marketing system instead of their own glorified system

Fake mail is not a major concern...the main thing is how did they got the names???

I think there should be some other service like paypal... Paypal really sucks... I dont like them at all..

although there is no official note on Paypal's blog and I observed that many guys on other forums saying that they didn't got any mail.. but still it seems like an official mail from paypal.

paypal really do suck, i try to use google checkout wherever i can

anyways some guys proved officially that it is a phishing mail. So I think don't feel panic just chill..

It was a mass phishing attack. however this mail made me withdraw my money from paypal today and got conversion rate of 43.10

Originally Posted by dheer

anyways some guys proved officially that it is a phishing mail. So I think don't feel panic just chill..

It was a mass phishing attack. however this mail made me withdraw my money from paypal today and got conversion rate of 43.10

You should have probably contacted Paypal and confirmed from them 43.10 now Paypal is truly trying to us off

always call PP for any queries that you have. I have my last exam tomorrow so will most probably call them and let all of you know by tomorrow midnight.

Don't panic fellow Indians, by messing with us PP will lose thousands of dollars each month. They will come up with the best solution but this damn RBI has just woke up after almost 10 years of ignorance. I wish I could make them sleep again.

Anyways, as I always say.

Adapt or QUIT. Business is a jungle and only the strong survive.

Think about it this way, YOU NOW HAVE LESS COMPETITION!!!

Originally Posted by virus_1720

Anyways, as I always say.

Adapt or QUIT. Business is a jungle and only the strong survive.

Think about it this way, YOU NOW HAVE LESS COMPETITION!!!

this

P.S: I am not an Indian

That would be the world's lamest phishing exploit if it is.

The new reg would prevent you from doing dropship business with your 1 account: money coming in has to be withdrawn as cash and can't be used to buy stuff. SO when you get a payment you have to transfer it to a bank immediately, wait the 2-3 days, transfer it from there to another account, and use that one to pay for your shipment. If you have another gaypal then you'd transfer from your 2nd bank to your 2nd gaypal then use that one to pay. Maybe?

Anyway, if you do it this way it would leave the cash in their possession an additional 4-6 days. If this was an anti-fraud thing it would be the opposite: they'd STOP you from withdrawing instead of forcing you. Like giggle checkout and their 10-day hold for the first 2 months. I'd say GP found some loophole in Indian rules that let them pull this shite. there's going to be some forfeiture / penalty for leaving it in there past 30 days.

But don't you guys have bank accounts with debit cards? Transfer to the bank and use the debit card to complete the payment

Originally Posted by RamChaturvedi

Fake mail is not a major concern...the main thing is how did they got the names???

I think this is done by a PP staff working there..
otherwise it is impossible to trace all PP mail id's

Hold on a second, if its a phishing mail were there any links they asked you to click on? This all seems very strange here.

I plan to boycott PP... Any other options available?

Originally Posted by utkarshpaliwal

I plan to boycott PP... Any other options available?

maybe this is the main motive of that email if it's a fake one - to make people leave paypal.

and anyways it doesn't seem reasonable to not let indians keep money longer than 30 days. that is total BS. and i don't think paypal would be that stupid to adopt such a step , or can it be.

maybe any of their competitors or some pissed paypal worker , sent those emails to indian paypal users who already were pissed off couple of months ago.

ianbongRe: Wow now we Indians can't user Paypal balance to purchase iteams onlline wtf?
Dude, why don't you all try Moneybookers? Sure as hell ten times better than PayPal. I trust these guys with my money.

They support almost every country on earth and you can withdraw funds easily too. Too bad not many people use Moneybookers - something I don't understand, considering how easy they are to sign up, fund account and best of all, their customer support is top notch!

We all know how PayPal likes to take account holders' inquiries and shove them up their ass*s.

i agree with you 110% on this moneybookers customer care service is best i have seen i have just signed up with them and trust me they look much better then pp and you will see they will out class this PP in near future and their rates are also very low and easy to use

Check this thread in DP. Many people claim that they had email paypal and the new policy is not fake

hxxp://forums.digitalpoint.com/showthread.php?t=1762343&page=3

WE Badly need any good alternative of Paypal!

Originally Posted by Night Owl2

WE Badly need any good alternative of Paypal!

Yes sure but what about others? people do trust more on paypal than any other platform.

I have just sent and email about this emails and found that the email is not fake and Paypal has change its policies for Indians.

Dear xxxxx xxxxxx,

Thank you for contacting PayPal.

Upon review, the email that you received is definitely from PayPal.
Please make sure to follow the information that provided on the email,
you don't have to worry your PayPal account is in good standing and has
no problem.

If you require more information other than what I have provided, please
give us a call as we try our best to give you immediate answers. Thank
you for choosing PayPal for your online payment needs. We appreciate
your business.

Sincerely,
Ressie
PayPal, an eBay Company

I just sent a mail to PP through their website..
and i got a reply like mentioned above...

its true and its not a phishing mail...!!

it is really frustrating since there are so many places where payment is accepted only through paypal. it is getting really troublesome for us . RBI sucks.