Although this news is few days old,I think it will helpful to people who don't know still about this.If you have a Indian Paypal account and have been using it to receive money from advertisers,clients,.. this will be a really bad news for you.
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.
Any balance in and all future payments into your PayPal account 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.
Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.
see you with another usefull post thank you very much,
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 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.
Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.
see you with another usefull post thank you very much,
Although this news is few days old,I think it will helpful to people who don't know still about this.If you have a Indian Paypal account and have been using it to receive money from advertisers,clients,.. this will be a really bad news for you.
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.
Any balance in and all future payments into your PayPal account 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.
Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.
see you with another usefull post thank you very much,
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 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.
Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.
see you with another usefull post thank you very much,
