Paypal update for Indians- I received a mail today

It is definitely a problem for people who tend to earn small amounts and accumulate the money in paypal account.And f i s to be a minimum of 10 dollars or so the conversion and transfer would prove very expensive.

hi dreamhome and kalav, thanks both of you for participating in this discussion,neither any one of you have informed me how much much is still lying with paypal,but mine is approximately 70 dollrs ,in next month it may cross more than 90 dollars,what to do with paypal,if they are charging more for every withdraw,it is some what difficulty to us,have a nice day

Now that we have two types of opinions, is it true that we have to withdraw the money at paypal every month? Does anyone have any recent update? Can I carry over my earnings to the next month?

Yes Vandana! I am also going to do it. I had started a discussion earlier about letting it accum ulate here but now the choice seems to be unavailable. Have a nice day and hope this day is good with no intervention of irritating relatives.

I did not send any payment proof to anyone Vandana.We will wait and see.I shall also contact paypal.

Actually Kala, this morning I sent about 30 dollars to somebody and Paypal didnt object! And this morning Dad received a mail from Paypal informing him that he has to withdraw funds within 30 days, and he cannot invest it elsewhere. Now, this is strange. I dont really know whether it is because you have sent your payment proof to somebody. Dad sent a payment proof without editing. I am a bit suspicious. Can you contact RBI and confirm? I am just going to do that now. :)

Yers SREE.Many people have smmall earnings slowly accumulated there and htis is a drawback becasue as I ahd written in one of the comments, conversion and transfer would be expensive.Let us wait and see.

@sreekala, you are right..It is really not possible for us to earn that much of money in a month so as to avoid the Rs. 50 charged by Paypal.. So if we are to withdraw the money every month, it would surely be less than Rs. 7000 and we all would be charged Rs. 50 for that.. Rs.50 is approximately equal to 1 Dollar. Earning a dollar is not that easy..But loosing it in the name of service charge is a disappointing one.

It is a nuisance if it si to be a rule.We will request paypal and see what we can do.

I have to try.They ask us to fill in a purpose code and there was also a rquirement to give our PAN number.But what you said struck me and that is why I started the discussion.Whe hte earnings are negligible it is better to let it accumulate the money there.But the new rule is against thsi now.Let us see -I am sure there would be some protests and some amendments regarding the exception for a minimum payout.

When was thsi Kannan?Was it in the recent week or so?

Yes. Indian bank allows withdrawals from Paypal. I did it and received money from paypal.

True.Many would ask this question .We will have to wait and see.

I did not think in these lines.THere are some more people who gothtis.Let us wait and watch.

It has addressed me by name. We will wait.We will soon get this update in their official blog.

if it is not a genuine email from paypal.. it will only address you as "paypal member" 'Member" or something else non specific. paypal emails always ALWAYS use yer entire name when addressing you in an email. and if yer still not sure.. call their support line, and ask them directly. they will also tell you where to forward the email to report the fraud if it is indeed a fraud so they can investigate and find out who is spreading them around and take apporpriate actions.

Hi Simi, I too wondered because I never recd any mail frm them and generally they send it to all the account holders.I really feel that some people are so immature playing such pranks and probably enjoying it too...thanks a lot for setting facts right and have a great day

Hi simi, ohhh.. so it is a fake mail? that is so weird!? LOL that's a good news then.

Hey Kiran, That mail is a fake mail. One of the mylotters has already confirmed that his friend had contacted paypal regarding this and they confirmed it that it is a fake mail and they will look into it. You can read the response chain where one of the mylotter has confirmed this. So now there are no issues with paypal. Happy mylotting :)

Ok.I have not made any online purchases so far.For people who use this for purchase it woudl be a problem.

True Kirti.I receive some negligible earnings from AC once in 2 months and this cannot be withdrawn at all on its own.On the other hand if I allow it here to add it up to other sources of income then I can withdaraw it.I am sure there will be some way out for this if we contact the admin of paypal.

Kirthi and Kalav, there are many indian users. If we all ask the admin together, they may remove Rs.50. Otherwise, no need to use paypal we have alternative.

even i received that email....now the scene for me is "i have $5 in my paypal account and i dont have verified account so i was thinking on buying something of that $5 but paypal mentioned that i cant even do that.. so plz tell me first how i can verify my account.should i put directly my bank account information in my paypal which is a new service i guess or should i use virtual credit card(which comes of $7) to verify my account? also which is best from both according to u ? secondly,suppose if i get verified also...then after i request for my amount ($5),they will deduct Rs 50 from that so the final amount which i will recive will be $5 * Rs 44.5 (current dollar-rupee rate)= Rs 222.5 - Rs 50= RS 172.5 .AM I RIGHT? AND THE MAIN THING...WILL PAYPAL ALLOW ME TO CASHOUT SUCH A SMALL AMOUNT ($5)? PLZ HELP ME IT WOULD BE NICE OF U IF U CAN MSG ME..I REALLY NEED UR HELP ALSO U SHOULD READ MSG FROM BLIZZERAND (ON 2ND PAGE) WHO SAYS THIS MAIL RECEIVED IS SPAM)

No dear! It was already said that we could withdraw if we filled in the purpose code.THe new development is that we should do it within a month.Now this depends ona person's online earnings on a regular basis.For people who have regular income it is alright but for freelancers for whom it may vary, the accumulating would suit them fine,

ah okay. so i hope by filling whatever it is to be filled will facilitate the payment with no more hassles. i feel bad that you guys experience this.

There is so much of discussion on this issue.We will wait till something definite is known.SOme people are saying ti is a phishing mail but I am not to sure .

It seemd to have been aphishing mail danitykane.

Hi danitykane, it is a phishing mail! :( So difficult to identify. :( Anyway, somebody at least contacted paypal and got the confirmation. :)

Hi bamrahkirti, a small request. If you dont mind can you let me know if you ever sent payment proofs to some party? This is because just this morning my papa received a mail from paypal informing him the same thing as you've received. But I have not received an intimation to that effect. Moreover, I sent 30 dollars this morning, Paypal didnt restrict me! Dad sent his payment proof sometime ago - without editing information in it. I may be wrong here, but I suspect whether it is some phishing going on here.

You are wlcome.Actually, I had started a discussion earlier a bout the paypal issue and whether you tend to accumulate earnings.As I mentioned , now we do not have a choice.THanks for the response.