Upcoming Changes to Paypal
By ThunderFire
@ThunderFire (113)
India
February 10, 2011 7:01am CST
Hello mylotters,
Today I was going through all the mails that I had received recently and while I was doing this, I noticed an email from paypal which was a 30 day advance notice on upcoming changes to user agreement for all the Indian users.
According to the email, from 1st March,2011, the user agreement for Indian users will be amended for the following:
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;
2. Export related payments for goods and services into your paypal account may not exceed US$500 per transaction.
Now, the purpose of creating this discussion is that I have some doubts regarding these changes, and I didn't find any other better place to discuss them.
The first doubt is that I am only earning from ptc sites at the moment, and that too very less, in fact negligible but still whatever I am earning is enough to pay up my sites hosting bills and keep my site alive.
So, now from 1st march onwards will I be able to receive payments to my paypal account from ptc sites? And, can I use the money received to my paypal account to pay my sites hosting bills because if I am understanding the first change correctly then I can't do this because I will have to transfer that money to my bank account thus leaving Paypal main account balance $0 all the time as I will not be able to keep it in my paypal account. I want someone to tell me that I am not understanding it right.....lolz !! Its only the first change which will be in effect from 1st march that is confusing me.
Anyone from India using paypal if can guide me here, I would be really thankful. Also, feel free to share how these changes are going to affect you.
Thanks in advance!
Happy mylotting :)
1 person likes this
3 responses
@pratiksanghvi (1278)
• India
11 Feb 11
I guess you have realized it a very bit late about it. I heard it a long time back and it is a major step by the RBI to control black money outflow in India. They should check all the Politicians first. The step is vbery bad and we definately have to think a lot before requesting a payment form any site now. We used to die for payments earlier and now we will avoid it.
@hardworkinggurl (37063)
• United States
10 Feb 11
I have heard so many situations as your from a great many Indian users. I am sorry but I would not be to be a resourceful helper.
I did some searching in our myLot toolbar and found a discussion that could possibly help:
http://www.mylot.com/w/discussions/2486324.aspx
The member life seems to know a great deal about your topic, so maybe she can help you with this.
Also as you open the above discussion, if you look here ========= to the right you will see many others that possibly can help you with this.
Best of luck my friend and I do hope things change for the best.