PAYPAL Changes its policy for Indians AGAIN wef 1 March 2011:(

Hi thesids - they need forex. They cant openly say so. But we are nearly in the same situation as we were when Yashwant Sinha had to send gold out of country to bail the country out. And we are in this situation not because we didnt earn anything. Our software guys have slogged, and slogged, and so have those youngsters in BPO and other places. We are in this situation because those who clear those bank clerical exams, bank officers exams, and IAS exams, have thoroughly mismanaged those funds.

Well, no wonder why the poor are becoming poorer in India. RBI is sucking blood from them. What does it think? That the corrupt politicians are using paypal to hide money? They should check those Swiss accounts first. I just hope Paypal does some favor for Indian users by reducing the charges for transfer of money. If I earn $1 from a site, I will lose it completely when transfered to my bank account. We must find other ways to save our online money.

any idea why RBI is introducing these policies? from what i have read, i think paypal is only reacting to the policies of RBI and not paypal introducign these changes on their own. i might be wrong though. hopefully, this will be resolved for the favor of indian paypal users such as yourself thesids.

Its time for PP to come up with alternatives which comply with the new rules imposed by RBI.If not they'll have to bid farewell to majority of the indian members as they're being restricted from buying any kinds of good nd services from third parties using PP balances.At the same time PP wouldn't even dare to continue with this coz 50rs fee to transfer $10 is too much.btw Neteller seems to be damn good with instant withdrawals to our indian banks unlike alertpay where we have to request for a cheque.

Hello friend, I am not from India, but I am trying to follow the conflict between PayPal and RBI since it began last year. I want to give the opinion of a foreigner, and I take the risk to be negged here. As a bank -- my bank says that PayPal is not a bank, but it smells like a bank and looks like a bank for an end user like me -- the interest of PayPal is to continue to be available in India. I think that PayPal did in 2010 a good work by being available again after one month. During this month, I saw Indian users at myLot flaming PayPal... In my opinion, if someone was guilty, it was your country, trying to know everything about your online earnings to be able to tax them. PayPal did not made a miracle in 2010 : they accepted what your country wanted to be able to earn money from you again. Made me feel at the story of "middle class of Calais" in my country. Maybe it is an interesting one : you were occupied by English and France was in war against England during one century, in the middle age. In 1346 the king of England besieges the town of Calais. After a year the town accepted to surrender and the king of England demanded, to don't kill the inhabitants of the town, that six middle class men of Calais gave him the keys of the town, in shirts with a rope around the neck to be hanged. One sculptor, Rodin, made a famous sculptor from this story. Here is a photo's detail : http://fr.wikipedia.org/wiki/Fichier:Les_Bourgeois_de_Calais_-_Jean_d%27Aire_-_Detail.jpg In front of your country, PayPal is exactly like Calais in front of the king of England : they have to accept every condition with a rope around the neck. Now your country wants more control and more money from PayPal. Who will pay ? Certainly not PayPal. Crisis is everywhere, every country needs money, and I think that PayPal can't be blamed here. Their interest is to keep the same rates for every country : India seems to be more and more greedy. The risk for you is that PayPal leaves India someday. You are in a great country and I hope it will not happen... but your national bank and your government made the same calculus .

Hi friend, Have you tried reviewing if the said restriction is limited to per day basis only? In the Philippines there is a restriction of $500 per day but I still was not able to check out if this applies to those pertains to unverified Paypal account or that one can still withdraw on the next day if your money is more than $500. Better check on your local paypal affiliated banks.

Hi Sid, I'm sorry if things are as they seem--HOWEVER... Do make SURE that the email is REALLY from PayPal. Because a lot of fake emails go out pretending to be from them in an effort to get you to re-state your vital information (full name, email, password, address, phone number, and government number). You're probably aware of that, but I had to point it out, just in case. Whatever you do, do NOT use any links in the email for the purpose of entering your PayPal account. Get there by typing paypal.com in your browser. It may very well be that their announcement is fraudulent. Now, if not, do understand that letting go of money is not unusual before one discovers a way to make money online. Keep your head up, Sid. You're learning all the time, and the distinctions you can now make--these are wisdom. Wisdom is a form of wealth, and this wealth grows in you every day. Do you know what wealth is? Wealth is what others are willing to accept from us in exchange for money and other valuables. It may be hard for you to believe that today, Sid, but think about it. Wealthy, you become wealthier and wealthier. Slow down and appreciate your growing wealth in its many forms, Sid. I'm gunning for you, as we say in America. This means I am cheering for you to win, Sid. Tell yourself some soothing things, as you would your own child doubting her or his inherent value and ability to do well in life. If only for their sake, it is good for you to be your own best friend. Anyway, that's my opinion, my good friend. :O)

Hello thesid, You think it's corruption this time? I don't think India is considered a third world country compare to the Philippines.I mean, there maybe slums in india but that doesn't escape media attention when it comes to teh country's economic growth and all. Is there any governing body that should sue or protest the stop of this madness from happening? I think in my view, it's just PURE Greed.. Well, i guess we were lucky enough here to have a Union Bank Philippines since it has a low rate of exchange. unlike Philippine banks that has fee of 3 dollar less.It's no ones fault, this is supposed to easy free and easy for all of us.

I got many Indian friends (from other writing sites) who are also complaining about this new rulings by PayPal. Even I is complaining right now and is very frustrated. As I got one of my payment over paypal, they charge me with a fee.

Hi sweetie. I don't know what paypal's problem is, but if they keep that up they will loose a lot of accounts to alertpay. They better wake up and very soon. TATA.

What I am not clear on is: What is Paypal and RBI planning to do if someone don't transfer within 7 days. May be I should read more on Paypal. Take me for example, I earn very less online, therefore, tends to forget about it, unless I need money for something. If I don't transfer in the 7 day period given, are they going to forcefully transfer it in my bank account or Paypal is going to take my balance?? Let's face it, can they really regulate all the accounts? Though I don't really know how many members Paypal has in India, I am guessing a LOT. I think it is a tall order to implement.

Hi thesids, Sorry for my late response, I am out of internet until maybe Monday, it has been down in my home since Friday afternoon. I came to a free wifi to check email and ran across your discussion. I also read it carefully in many other duplicated as they have come way after yours. I am so confused with the conversion rates as I guess the other ones also have it wrong. I wanted to acknowledge my friend that I read your discussion and am so sorry the RBI is making things difficult for you and all Indians. Surely I do hope they understand that online earners are only trying to make a living, why add to all the havoc as there is already enough. I will pray that this situation gets resolved for the better of you all and not for the bank and or government.

Hush but seems like everyone wants to make money given if it is at the cost of others who can't really afford to pay such fees.

The owner of paypal seems racist.

If paypal realy wants to retain the Indian users, they can just remove the transaction fee that they are charging for the withdrawals less than 7000 INR. I think this would be the best and only solution for this issue created because of the recent amendments made by RBI. When this is the case, we can easily withdraw the money whether it is $100 or just $2 - without paying any fees.

I hope this won't happen to my country also. Too bad to hear this my friend. But I think there are lots of people in India that are using PayPal and it reach the PayPal limit for a country. Well I am just guessing. But the saddest part in this is you are given a lead time to how long you should transfer your balance from PayPal to your bank account. What if you balance is too small that you cannot transfer it to your bank account? Will it be forfeited? Unfair PayPal.

I think PayPal have really make a lot of restriction for user from India, I have seen so many complaint about PayPal from the user from India, and now they come out another restriction for you, that is quite unfair from my view. But, think of it, why PayPal implement this? Is it your government have make certain agreement or regulation with PayPal that you must transfer your money into you bank account within 7 days so that your government know how much you earned from the internet? Or this is another PayPal's trick to get more money from their user? I really have no idea and I hope that it will not be implement in my country.

Why is India always have problems with Paypal? What's wrong?

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hii friends,your message to paypal account again to 2011 govt policy for which policy to indian govt for paypal.com site change to for dicussion matter.so your message from me 2011 policy give from to given funds to transfer account to me.so can help me this message sir.