A Issue about Paypal

The RBI guidelines are very stern for the paypal users. you can't keep more than 10 dollars in your account for more than 7 days and also the paypal money can only be withdrawn to a bank i.e. you can even shop using that money within the 7 day period. Well I guess do not try to experiment to keep more than $10 for more than 7 days. you will lose your hard earned money.....

Dear friend, I feel to play it safe, so that make myself sure to transfer it withing 7 days. May be I feel that those who had let lots of pain to make that amount, it is really difficult to lose to. I wished the paypal and reserve bank of India go much liberal in their dealings that is effecting the Indian account holders of paypal.

In the starting when all these announcements came, I too thought that either they will transfer the money automatically or impose some kind of fine on it. But neither of these two have been seen by me or anyone else for that matter. My hundreds of Dollars keep lying with Paypal with out any thing wrong happening to any stuff that I try to do with them afterwards. I can't shop though using that money. I wish Indian Government stops making life harder for us freelancers.

First of all, I'm not Indian, so I don't have that to worry about and I will let you know that I actually am able to save money in my paypal account until I get to the point that I wish to transfer it into my checking account (but my account is limited at being able to transfer $500 dollars in a calendar month. With that said, I would think that if you don't transfer the money according to your nation's policy with paypal that it will be taken away from you. Regardless of how it all works out, I really think it is trashy that they've set up a policy like that.

I understand that we can keep upto $10 in paypal account. If excess lies in the account over that for 7 days paypal can transfer money to the sender. It did not happen. Recently I got 40 from one account it remained for 6/7 days and after getting money from mylot I got it transferred immediately to my bank account.I retain only 0.50$ in paypal. yes every time we transfer we have to lose Rs.50 besides getting a low rate of 43.15 for dollar. Retain up to 10 and all balance transfer to bank account. u cannot use paypal balance for buying goods nowadays.

well iam really new to this thing...even i need to know this...but somwhere i heard that ur they will froze ur account or your money will be taken away...its something like that...even iam not sure...if some any one knows ...den please post your suggestion .

Right! according to RBI guideline, its necessory to transfer fund in your bank, immediate after receive payment in paypal. its all to reducing black money transites. Its good action taken by RBI. You must have to provide your Bank details in order to complite cycle of transitions.

This new rule is not bad for india.if RBI has taken this action then it is in govt favoure and it will stop or help stoping black money scam.but as all said and i read in paypal guide lines,we can.t have more then 10usd in a/c for more then seven days.it means we can hav as much money but we have to withdraw that before 7days.and yes may be paypal has stopped shoping with it but some time ago it was enable with a limit of 500usd.