We have been diligently working with the RBI and our business partners to resume Indian bank withdrawals for the thousands of Indian businesses who use PayPal to sell their goods or services in the global marketplace.

I’m pleased to tell you that the RBI has now allowed us to resume bank withdrawals for settlements for exports of goods and services. We are currently making changes to comply with Indian regulations for settlements for exports of goods and services, and we anticipate that as of Wednesday, March 3rd, we will be able to resume the bank withdrawal service. As part of the changes, you will be required to fill out a new field entitled ‘Export Code’ when you request a withdrawal. This information is required under the current laws of India in order to identify the nature of cross-border merchant transactions. On Monday, March 1st, we will be back in touch with specific instructions on how you can move your money into your bank account. I will be posting another blog then.

I’d like to thank the RBI for working with us to get this addressed. We know this is an inconvenience to you and we appreciate your patience.

Moving forward, the RBI has told us that PayPal needs specific approvals to allow personal inward remittances to India, which we currently do not have. Until we get these approvals, personal payments into India will remain suspended. However, if you are an exporter, you will continue to be able to use the PayPal service for payments of goods and services. In fact, with the changes we are making to our system, PayPal is now set to be a more powerful engine for exporters in India. With purpose codes for export transactions and FIRCs (Foreign Inward Remittance Certificates), you should now be able to get the export related benefits you seek.

We know the past few weeks have been difficult and I would like to assure you that we have been working tirelessly to resolve the situation and restore our service. PayPal’s highest priority is to always ensure we comply with all applicable regulations everywhere we do business around the world.

Going forward, you can expect the same reliability from PayPal that you have enjoyed for all these years. I would like to thank you all for sticking with us and assure you of our best services going forward.

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Post By admin onFebruary 27th, 2010 | 694 views | No Comments »

Policy Updates

PayPal is a business that serves a new and exciting market. As that market changes, our business evolves. This page is dedicated to informing users in advance of important changes to the PayPal service, its User Agreement or other policies.

Notice Date: 14 July 2008
Effective Date: 3 September 2008

Beginning 3 September 2008, PayPal will introduce a new method to add funds to your PayPal Account in select countries.

Adding Funds to your account (Topping up)

1. Topping up. PayPal customers in the following countries may add funds to their PayPal Account via bank transfer from their local bank accounts: Italy, Ireland, Belgium, Austria, Denmark, Greece, Portugal, Poland, Finland, Hungary, Czech Republic, Luxembourg, Singapore, Hong Kong and Mexico. Funds may be used for the purchase of goods or services over the internet. Due to bank processing times, it may be a few days from your initiation of the transfer that the funds will appear in your PayPal Account.
2. Fees. PayPal will not charge you a fee for topping up from a bank account, however, your financial institution may charge you a fee to send the funds to PayPal. Please check with your bank prior to sending funds.
3. Limitations. Only customers in the countries listed above may add funds to their PayPal Account via bank transfer. The funds must come from your bank account into a PayPal Account with the same name as the registered account holder. In the event you attempt to send funds from an account wherein the name on the PayPal Account and the name on the bank account do not match, the funds transfer may be rejected by PayPal. You will be liable for any fees incurred for attempted transfers to accounts that do not have the same registered owner. For fraud, risk and regulatory reasons, PayPal reserves the right to limit the amount that may be topped up at any time.
4. Redemption. Top up funds may be redeemed for good or services from other PayPal customers and may be refunded to your registered bank account, where available and in accordance with PayPal’s withdrawal policies as shown below. Read More »

Post By admin onAugust 19th, 2008 | 778 views | No Comments »

Interested in online jobs, but how will you get paid. Just think for yourself, am sitting on my computer, I want a job done by someone. Suppose someone did the job and emailed it to me. How would I pay him? The easiest way to pay someone online is paypal. The fastest way to send and receive money on Internet is undoubtedly paypal.Paypal is free to join, and is absolutely easy to use. Just give your paypal email id, to someone who wants to pay you. And your transaction is done. Though for each transaction a certain amount is deducted, though it’s marginal and doesn’t really matter.Paypal can send you cheque, takes about 4-6 days to process a cheque. Takes about 20 days to reach you. $5 is the cheque processing charge. As fas as my experience is, this amount is not too big. I recommend paypal and I use it myself.If you are new to Internet, I suggest you to straight away make a paypal account. It’s free and easy to join. The use of paypal is huge, and you will slowly learn it. You can post a comment if you want to know anything more, I would reply on that. It is also suggested that you go through the paypal help, and FAQ sections, almost all your questions will be answered there.
Tag: Paypal

Post By admin onSeptember 10th, 2007 | 674 views | No Comments »