Should Indians try to avoid paypal?

I am yet to reach the limit set by me here so I haven't had any payout. But I have read details at Paypal and find nothing that mentioned or indicated that money transfer to our banks is restricted by RBI. I expect to get an automatic transfer to my bank account once there is payout. With a fair degree of confidence, I can suggest to you to continue with Paypal.

It is a long time now, since this restriction is put for the Indians. Investments in the online programs is not allowed, and if the money remains there for more than 1 week it gets transferred automatically to the bank account. The good thing is this that the fees which was big earlier is relaxed now.

I suggest that you have accounts in all 3 processors.In this way funds from paypal can go into your bank and alertpay and LR funds can be used for other purposes. I have done the same and i find it useful.

Paypal is in no way responsible for that restriction. Reserve Bank of India, which is the central bank of our country is. RBI periodically monitors inflows and outflows of dollars. Inflows should be from reliable accounts - the know your customer thing, which is to prevent terrorists bringing in monies into country, and slyly investing in the country bypassing the usual norms. Other reason for RBI to prevent investment outside the country at this point of time is acute shortage of dollars at this point of time. As you are aware, our country is importer of oil, and we do not have any resources of that commodity except in strife stricken North east. I think it is time for us to be patriotic and forget about investments for a while.

Avoid paypal i guess then how would we get our earning from our favorite site mylot I like paypal as it is very very easy to get our money in our bank from them as they do it free of charge other payment process cost while cashing out the funds from them and alertpay i think they take 3 to 4 weeks to delivery check at our home which is a long time (never tried it too cash out from it though) i would suggest use paypal for cashing out and alertpay only if ever you like to invest online or in some online site which only pays through alertpay other than this always prefer paypal

i am not aware of these things. i dont have paypal yet.

Though paypal is getting worse everyday but we don't have any better alternative as most of the genuine site uses paypal or cheque for making the payments. The cheque system though isn't feasible as it takes ages to arrive and even longer to get it encashed. So all those working online can't avoid paypal even if want to

I think they simply credit to your bank account the amount. The last two payouts from mylot for me have got credited to my bank account. When they do these auto-transfer they do not charge any fees for that, so in that sense it is really not that bad. Cheers! Ram

Hi Doctordidi, The only reason i opt for paypal is its very easy for Indians to get paid directly to our local savings bank.I use alertpay funds for investing in any other sites because it i read in many discussions here and in other sites too that alertpay takes almost 15 to 20 days to get our money which is very long and lengthy process.So,i try to avoid alertpay.

Hello, Congratulation for reaching at payout. It is right that RBI imposed some conditions. We can not invest amount which is accumulated in paypal account, First we transfer it in our bank account. If we want to invest amount than we have to add amount to paypal account from our bank account.At present auto transfer condition is not inforce. We can transfer when we want. I transferred amount in this way in last month. Paypal is not charging any amount for transfer. It is working properly.

Maybe you should advise your fellow Indian compatriots about this paypal issue with your earnings online. I am not an Indian, but I heard a lot of complaint about the paypal issue with Indian onliners about this problem a lot. So, it is probably the issue with the reserve bank in India, not the problem with the paypal system after all. If you can, avoid the usage of paypal.

I think they clean every month in somecountries paypal or so i was reading somewhere . Every new month you begin a clean but i did not really read what happened to the money because it was not my country included in these . But i think you should read more about it i dont know what is it actually . But i did get that alert on paypal . So you should search for some information about it .

Hi, you can use paypal to receive your earnings and spend it. but if you want to invest then use alertpay, that will be more easier. Or if you are not able to receive your payments to alertpay, u can exchange dollars with your friends or others to invest money.

congrats to you.. becouse you have money..

Hi doctor didi, I feel paypal is the best online payment processor, not only for Indians but for the people world over engaged in money transaction on internet. There is no other payment processor as efficient and as easy as paypal. Paypal has to impose certain rules and regulations imposed by Reserve Bank of India which does not permit Indians to hold foreign currency holdings outside India. So also it does not permit the reinvestment of your foreign currency earnings through payment processors. Paypal is following these rules to perfection as they care for the rules and regulations of forign Govts. they are doing business with. This is not the case with other payment processors. You can invest your money abroad through your credit card or net banking account through paypal. G.O.I. has no objection to that. I feel paypal is withdrawing the money deposited in your account to your bank account is India automatically without charging their normal fees if the amount is less. This is unconfirmed correct me if I am wrong.