Paypals new terms for India

[wonders4all]

This is the link to paypals new terms for India
https://www.paypal-apac.com/india/

I hope this does not hurt the paypal customers pocket here in India.Our goverment is pretty strict when it comes to filling its own pockets.

Democracy is the upper layer of corruption.

[amitava123gems]

Hi sales.india,
Since we are discussing PayPal, what is the logic behind the max cap of 500 bucks? What is the maths?
You dont know, but I know.
The only logic is to add to the troubles of common man.
This is your populist guv, talk big about black money and act like brainless. Pple dont object, because they are used to the brainless whims.
Thanx,
Truly,
Amitava

[diamondsnet]

Also RBI guidelines is applicable to all payment gateways processing export related receipts in India. So even if you are selling on your own website you wont be permitted to accept more than 500$ per transaction. I am sure company like eBay will find a solution with IN government & will resolve the problem

Also if you selling less than $500, you are fine with your business.

[sales.india]

sorry guys
@amitava gems..
i think yes it will be a matter of trouble for you guys..
but i think cap is on single transaction of 500$ go with multiple payments of 500$

[amitava123gems]

Hello,
I want an answer to my query about multiple purchases by single buyer. I want this answer from guys who know.
No casual comments please.
Ebay terminology for single transaction is transaction of a single item. But how the RBI interprets multiple purchases by a single buyer?
Will somebody from PayPal answer this?
My request: no passing comments please.
Thanx,
Truly,
Amitava

[status_eye_care]

With regards to the Multiple purchases by single buyer -
As per the current modified rules that will be implemented by Paypal post 1st March,
One Cannot carry a single Transaction above $500.
currently there is no restrictions in no of transactions ( below $500) but there is cap on per transaction.
i.e if your buyer wants to buy 5 products of $400 each, he will have to make payments 4 times.
It certainly is a major blow for small exporters who are selling high value products above $500 or more.

The Only solution right now would be to ask the buyer to make the payment in parts, but that too will not be possible in High Value products.

[skygiftworldwide]

Why RBI is against small international sellers? $500 per transaction is very very small amount compared to Billion Dollars per transaction to Swiss Bank.

[hansrajchopra]

Today received following message from ebay /paypal.
-----------------------------------------
You receive money on DAY 1 from the buyer into your PayPal Account,
1. You take 3 days to make product or ship product
2. Buyer Receives product after 10 days ( so 3+10=13 )
3. Buyer confirms or leaves positive or satisfied & acknowledges after 2 days ( 3+10+2=15 )
4. So from 15th day, 7 days are counted ( 15 +7 ) to transfer the money in your account
------------------------------------------
So for ebay items 15 days will be given. Funny, i ship item by Registered airmail and delivery time to International locations vary from 4 to 50 days. 80% packets never reach before 20 days. There is no problem with Indiapost service because almost all international seller quote 1 to 4 weeks delivery time and more if any country is famous for slow customs (Italy, Brazil, Indonesia etc, of course India). I think February will be my last month on ebay....

Another serious question from wise men of Paypal and RBI.
Paypal imposes $2500 (or $3000 ?)withdrawal limit per month, if you received more than this then you have to wait for next month. Suppose, i have done eight transactions of $400 or 32 transactions of $100 so total will be in my account will be more than $2500. Then how will i withdraw remaining $700 within 15 days. More problems if you are a big seller and there are 50+ such transactions every month.

People who sell through their sites can be corrupt (not all) and may be indulge in money laundering etc but selling through ebay is transparent. Whole world can see who is selling and who is buying. Then why such a stup*d rule.

Dont make India another Pakistan, where politicians only want to come in power to earn money. They have nothing to do with progress and development. They know one day terrorist will ruin the country and then they will fly to Europe / Gulf where they have 20+ rooms mansions and enough funds for luxurious life their grand grand children. Indian politicians are slowly but steadily making progress. Their plans are delayed only by the people who love this country and carry the burden on their shoulders... yes people like me, you and all people on ebay. Believe it or not the best thing happen to India after dotcom bust is small sellers from small/big towns started earning foreign currency. The things which are considered a piece of junk and thrown away (comics/ posters/ artwork etc) found a way into our cupboard. Handicraft has survived.. not because of Big time exporters but because of Ebay and security that paypal provides.

These stup*d laws will not make any difference in already going down Indian economy. Stop corruption and invest some funds in technical research. Make satellite/ ships/ airplanes / electronics / advanced rail coaches and economy will boom. Today we can not even make a decent Keyboard and mouse. That is the difference between India and China.
What extraordinary things Indian politicians have done so far - g@y relations are legal now (wow this shows we are not far behind than Europe and America. Bravo) / Lowered the age of marriage and voting (wow.. now make sati pratha , child marriage legal)/ and ITS A SHAME... in today's paper they are considering and thinking about a law where 12 years old is able to have *** legally. Its just a tip of things going inside the dirty mind of Indian politicians and bureaucrats.

Will return for more.

WE NEED A JULIAN ASSANGE DESPERATELY.

thanks

[amitava123gems]

Hi,
What if I dont withdraw after 22 days?
Thanx,
Truly,
Amitava

[hansrajchopra]

Hi,
I think... we will see much more from 1st March. Last year paypal issued many such updates and warnings (like Paypal balance money can not be used to purchase Goods etc) but there is no strict implementation from their side (adding PAN card is also passable). I think now they have fully developed code/software for it and we will see some new tabs/ features on Paypal (only for Indian users) from 1st march 2011.
May be we have to necessarily add a bank account (so that paypal will automatically transfer any balance after 15 days).
OR if adding a bank account is not necessary then they will automatically issue a check after 15 days at given address and name.
OR If a user fails to withdraw funds then they might limit the account (receiving and sending funds ability) until balance is withdrawn. Of course, by sending money i mean sending through Credit card.
Limited account is the best option for them but it violates the RBI rule (money not transferred) ... the main cause of all this trouble.

At this time we can only make guesses. Paypal is right and RBI is also right. Problem is RBI people don't understand a bit about small scale and occasional international trading. They should at least make things less problematic by relaxing the rules. Like-
1 Make all Indian Debit cards internationally acceptable (on paypal and online shopping sites). I don't think there is a ny problem with it... when it is OK with credit card then why not debit card.

2 Increase withdrawal time from 15 days to 60 days.Whats the problem in it ? Ebay / paypal allows 60 days for charge back, refund and feedback. So why this 15 days limit. After all there are some very small sellers who can not use expensive couriers / EMS and India post's airmail / surface mail is the only option for them.

3 Many international sellers have EXIM code so at least they should be allowed to do transactions valued more than $500 (If not unlimited, then paypal should limit 5 to 10 such transactions per month).

4 The root cause of all this trouble is RBI / Indian govt itself. Last year paypal asked for PAN cards but it is not a sure shot method. People do have multiple PAN cards, multiple bank accounts with different PAN cards and multiple paypal accounts in their or their relative's name. Who is responsible for issuing multiple PAN cards to same person, of course Indian govt. Forget Indian citizens, refugees from Bangladesh, Nepal, Pakistan etc also have PAN cards or even... passport. That is why now when you receive funds from your relative living abroad through western union, they don't accept PAN card as identity proof.

Will return for more.

thanks
Hasy

[rajawadu]

3 days for ship the product is nothing.
This is utter useless and we cant use paypal any more.
We cant make blouse in three days and dispatch saree or cant make sherwani in three days and dispatch.

How can we dispatch custome made product to courier in three days.

How can courier company deliver in 10 days in South Afrika or Rasia.

Samin