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Upcoming changes to paypal user agrement for india

Discussion in 'BlackHat Lounge' started by octalsystems, Jan 28, 2011.

  1. octalsystems

    octalsystems Registered Member

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    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.
    complete details
    https://www.paypal-apac.com/india/

    can any one explain this in simple?
     
  2. rpkrocks

    rpkrocks Jr. VIP Jr. VIP

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    Fuck gaypal BS

    This is most interesting

    Starting 1 March, 2011, GayPal customers in India will not be able to keep money in their GayPal account balance. Instead, all money received into a GayPal account must be transferred to a customer's India bank account within 7 days from the receipt of confirmation from the buyer in respect of the good or services. This change is to ensure that we continue to comply with the RBI Guidelines.
     
    Last edited: Jan 28, 2011
  3. BigBuddy

    BigBuddy Account Under Review

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    simple? Time to quit PP and have to look for another payment processor.
     
  4. Knoxgates

    Knoxgates Supreme Member

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    Since last 2 years i m not accepting paypal funds. I m using paypal only to send payments. I have credit card attached to that paypal account. I get affiliate payments through wire transfer.

    I heard Moneybookers is great, but i didn't used it.
     
  5. rpkrocks

    rpkrocks Jr. VIP Jr. VIP

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    like any suggestions?:D
     
  6. neo3187

    neo3187 Senior Member

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    its not paypal's fault... its the indian government who is poking them... damn this corrupt government wants to suck out money from where ever it can...
     
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  7. BigBuddy

    BigBuddy Account Under Review

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    Plimus.
     
  8. rpkrocks

    rpkrocks Jr. VIP Jr. VIP

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    You Use it ?:)
     
  9. Knoxgates

    Knoxgates Supreme Member

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    10% for each and every transaction. It is going to hurt sellers most.
    If you sending money from paypal account linked with credit card, then you won't be able to send payment to Indian users. I m facing this problem since last 2 years.

    @rpkrocks: This forum doesn't allow political discussions
     
    Last edited: Jan 28, 2011
  10. octalsystems

    octalsystems Registered Member

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    what does second clause means:
    "Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction."

    paypal india users wont be able to receive money greater then $500?
     
  11. shadowfax

    shadowfax Power Member

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    Indian users cannot receive more than $500 per transaction. Here is update from official PP blog

    To our global users: we regret the inconvenience caused from 1 March 2011 when you try to purchase from or send payment to an Indian merchant over US$500 per transaction. For purchases or payments above this transaction value, you will have to use an alternative payment method. By informing you 30 days in advance of this change, we are giving you an opportunity to adjust your payment process to minimize any disruption to your purchase of goods and services from India.
     
  12. jsurya

    jsurya Regular Member

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    After implementing this, INDIA is the most security country in all aspects and you can't even enter eIndia :D

    Politicians are the big problems from developing India and it makes shut down every online business people. Jai Hind!
     
  13. srb888

    srb888 Elite Member

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    Politicians are free to create multi-billion scams and still keep their seats hot, RBI wouldn't even think of touching them; but on other hand, it will do everything to squeeze out life out of the small merchants trying to do business globally. They have everything about the PP members: PAN details, address proofs, bank details, income details, and whatnot. Still they bring in new rules to strangle IMers.

    They have strangled the farmers, the small Indian merchants and small businesses, education system; infrastructure and development means huge cutbacks for them, people can't eat - can't save - can't work, gas (petrol) is going skywards and taking prices with it, natural resources are stolen by the ministers, land scams are daily life for these people, they gift the land belonging to the nation to their own sons and s-i-l's. On top, they ask what wrong they have done?! Agri minister is more bothered about IPL and other forms of cricket...

    When the time comes to hunt down the biggest money-launderers and bring back the billions and trillions stashed in Swiss banks illegally, they throw up their arms and also throw up their stomach content both ends... all scamming ministers are keeping their rotten heads high and are sticking their pig-bums firmly on their office chairs... stinking bast*ds... and they talk about stopping corruption and money-laundering! Ha...

    More than PP, it's the govt and RBI rotten policies that stinks ...let them bring in the billions of black-money from Swiss banks back to us first.

    Education and self-reliance is their biggest enemy #1... if people become educated and earn easily then how can these armchair-lords be able to rule like before?

    Strangling PP this way was always on the cards, but what next? Give them 50% under-the-table on top of the taxes we pay? ....
     
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  14. srb888

    srb888 Elite Member

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    It's like shooting in the head to kill the lice...


    Haven't you heard about the hawala market? PP is nothing compared to it. And it is run openly... Terror1sts? Who do you think has helped grow and nurture these elements across the border over decades? ...
     
    Last edited: Jan 29, 2011
  15. bigbooby

    bigbooby Registered Member

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    I guess indian freelancers will have a tough time after march.
     
  16. thesmashge

    thesmashge Power Member

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    I still cannot understand the Point 1
    Code:
    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
    For example i get $18 everytime i my ebook is sold.Does that mean i have to transfer this $18 to my Indian account for every sale i make?Can't i wait till it accumulates to 1000$ and then transfer it in bulk to my account?

    My second question is....What i the impact of this rule on me as a Paypal using seller?Well...Apart from the restiction that i can't take payments >500?
     
    Last edited: Jan 29, 2011
  17. beazt

    beazt Power Member

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    How about splitting up transactions greater than 500 USD into two or more? The rule says one transaction can not exceed $500.

    Also, it states all funds must be transfered to Indian bank accounts, but PP has stopped funds transfer to Indian bank accounts a while ago, the only option was en cashing a cheque. Does this means they are resuming direct debit to Indian bank accounts again?

    Damn, lots of questions but nothing is clear. RBI Sucks.
     
  18. thesmashge

    thesmashge Power Member

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    ??????I have been transferting money from paypal to my indian bank account for the past 9 months with no problem....What do you mean?

     
  19. beazt

    beazt Power Member

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    I am surprised. It certainly did not allowed transfer from or to my bank account. Here is a post that states the same when this rule had just came out:

    Code:
    http://techcrunch.com/2010/02/05/paypal-halts-india/
     
  20. thesmashge

    thesmashge Power Member

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    Yes they stopped if breifly around march last year....But they resumed the service again...