Not More Than $500 Thru Pay Pal

Autor

Beitrag

Amp_Nut
Inventar

#1 erstellt: 29. Jan 2011, 07:40

I guess all Pay Pal users have got this notification today, but just in case some have not realised its implications:

Dear ....

As part of our commitment to provide a high level of customer service, we would like to give you a 30-day advance notice on changes to our user agreement for India.

With effect from 1 March 2011, you are required to comply with the requirements set out in the notification of the Reserve Bank of India governing the processing and settlement of export-related receipts facilitated by online payment gateways ("RBI Guidelines").

In order to comply with the RBI Guidelines, our user agreement in India will be amended for the following services as follows:
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; and

Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.
We seek your understanding as we continue to employ our best efforts to comply with the RBI Guidelines in a timely manner.

We regret any inconvenience caused to you and hope the advance notice will enable you to plan your future use of our services accordingly. For further information, click here.

If you have any questions, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us’ at the bottom of the page. We sincerely thank you for your patience and continued support.

Sincerely,

The PayPal Team

[i]Does this mean that we cannot [b]Collect more than US $ 500 on sales or are even purchases limited to US $ 500 ?

[Beitrag von Amp_Nut am 29. Jan 2011, 07:53 bearbeitet]

abhi.pani
Inventar

#2 erstellt: 29. Jan 2011, 07:51

I think they are saying "Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction. "

Meaning, if you are exporting (selling) something then the maximum amount of money one can receive into his account is $500 per transaction. It doesnt say anything about importing

bombaywalla
Stammgast

#3 erstellt: 05. Feb 2011, 16:53

you an thank all those idiots who did consulting work for overseas companies & asked to be paid into their Paypal accounts so that they could avoid paying income taxes to the Indian govt. (& maybe the terrorists were also using Paypal as a conduit for their underground activities?).