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**Upcoming changes to PayPal User Agreement for India**

Discussion in 'BlackHat Lounge' started by VarunDave, Jan 29, 2011.

  1. VarunDave

    VarunDave Registered Member

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    Dear XXX XXX,

    As part of our commitment to provide a high level of customer service, we would like to give you a 30-day advance notice on changes to our user agreement for India.

    With effect from 1 March 2011, you are required to comply with the requirements set out in the notification of the Reserve Bank of India governing the processing and settlement of export-related receipts facilitated by online payment gateways ("RBI Guidelines").

    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.

    We regret any inconvenience caused to you and hope the advance notice will enable you to plan your future use of our services accordingly. For further information, click here.

    If you have any questions, please contact PayPal customer support by logging into your PayPal account and clicking on ?contact us? at the bottom of the page. We sincerely thank you for your patience and continued support.


    Sincerely,

    The PayPal Team

    ------------------------------------------------------------------------------

    This is the email i got early in the morning. The main thing is we cannot keep our money in Paypal more than 7 days from the date we receives it :-| The things are really getting uglier.
    Please share your suggestions / ideas to tackle this shit ..
     
  2. RedWolf

    RedWolf BANNED BANNED

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    http://www.blackhatworld.com/blackhat-seo/blackhat-lounge/275140-upcoming-changes-paypal-user-agrement-india.html
    http://www.blackhatworld.com/blackhat-seo/blackhat-lounge/275282-paypals-new-roadblock-now-paypal-sucks.html
    http://www.blackhatworld.com/blackhat-seo/white-hat-seo/275242-pp-screw-you-india.html
    http://www.blackhatworld.com/blackhat-seo/blackhat-lounge/275153-thanks-new-year-gift-indian-paypal-rbi.html
     
    • Thanks Thanks x 1
    Last edited: Jan 29, 2011
  3. super11

    super11 Senior Member

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    I am wondering what will happen if you keep the money beyond 7 days. Will paypal place a hold on it? Will it be returned to the person who sent the money or anything else?
     
  4. ara_kopru

    ara_kopru Newbie

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    paypal is not a good options for indians anylonger.
     
  5. YouRocking

    YouRocking Newbie

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    I think Paypal is kicking off Indian users lol
     
  6. vinaylahoti

    vinaylahoti Junior Member

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    Mind your tongue dude..;)

    This Rule z from RBI..
     
  7. bigbooby

    bigbooby Registered Member

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    paypal is not an good option for any country
     
  8. enfielden3

    enfielden3 Newbie

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    Paypal should be avoided by everyone as it's useless....
     
  9. mtravel13

    mtravel13 Registered Member

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    the way i see it , its really incovienient for us but RBI must have implemented it because there is a potential to misuse paypal service , i could think of this :
    1. anyone can create a fake paypal account with fake PAN number
    2. receive huge sum of cash in that account by whatever black or white business he is in
    3.use this money to buy some real estate or some other overseas property
    this way one can transfer huge sum of money without gov having a clue about it ..think about it , no gov would want to be in such situation .
    and regarding the $500 limit , its 1/3 in us around 10k so for india it should be around 300$ so its not that bad either .
    i am not trying to say that its really nice move but i guess its the time to understand the pattern and find better alternative instead of whining over it coz sooner or later this policy is going to reflect in every similar service...
     
  10. userlogsin

    userlogsin Jr. VIP Jr. VIP Premium Member

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    On your screen...lol
    I am so disappointed with such comments all over BHW. Guys we are Bh marketers and we do not have the right to post un-researched or half researched facts - not on BHW at least.

    This is RBI and I believe we need to stop looking for other options as this is a mandate by the governing body. Any institution not following this is doing their business illegally and are bound to be prosecuted sooner or later.

    So stop complaining, stop bitching..get up and read the information provided again...this is when you need to find a way out...We are not the only exporters in India..look outside the pool my firend.

    The real problem is actually bigger than some meager fees that we will have to pay as foreign transaction fees...ever heard of IEC...read through the 1000 pages long Foreign Trade Policy, Foreign Trade Procedures Handbook and a few more that I dont remember now...you will know the real problem.