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  1. #126
    I have USD as primary currency, Verified, Credit Card, bank accounts added, no withdrawl limitations and seeing Paypal Balance
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  2. #127
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    Quote Originally Posted by ashras99 View Post
    I have USD as primary currency, Verified, Credit Card, bank accounts added, no withdrawl limitations and seeing Paypal Balance
    Same here, except it is EUR.
    Last edited by InfiniteTech; 03-03-2011 at 11:10 AM.
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  3. #128
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    It is showing "PayPal Balance" for me
    http://screencap.net/f/6265af19.png
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  4. #129
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    It shows "USD Balance" as payment method when you pay someone, not in your account overview.
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  5. #130
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    Quote Originally Posted by Vinayak_Sharma View Post
    It shows "USD Balance" as payment method when you pay someone, not in your account overview.
    The screenshot was taken from the payment page. Not from my profile.
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  6. #131
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    So does this mean that we can still continue to keep our money for more than 7 days in our paypal account? and continue to buy products and services online with our existing paypal balance?

    Please correct me if am wrong.
    If you steal from one author, it’s plagiarism; if you steal from many, it’s research
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  7. #132
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    Quote Originally Posted by qualityhostings View Post
    The screenshot was taken from the payment page. Not from my profile.
    Oh, I didn't looked at the screenshot.

    That is exactly where it showed "USD Balance" to me.

    Apart from that paypal is letting you pay from your paypal funds, so that is something good. But again, who knows this is because that money came in before 1st March.

    So again wait and watch game is still there.
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  8. #133
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    Quote Originally Posted by Vinayak_Sharma View Post
    Oh, I didn't looked at the screenshot.

    That is exactly where it showed "USD Balance" to me.

    Apart from that paypal is letting you pay from your paypal funds, so that is something good. But again, who knows this is because that money came in before 1st March.

    So again wait and watch game is still there.
    Are you able to send money from your paypal account ?
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  9. #134
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    Quote Originally Posted by Vinayak_Sharma View Post
    Oh, I didn't looked at the screenshot.

    That is exactly where it showed "USD Balance" to me.

    Apart from that paypal is letting you pay from your paypal funds, so that is something good. But again, who knows this is because that money came in before 1st March.

    So again wait and watch game is still there.
    I made payment using the paypal fund which I received today. And it was showing "PayPal Balance" for me while making the payment.
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  10. #135
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    Quote Originally Posted by Vinayak_Sharma View Post
    Oh, I didn't looked at the screenshot.

    That is exactly where it showed "USD Balance" to me.

    Apart from that paypal is letting you pay from your paypal funds, so that is something good. But again, who knows this is because that money came in before 1st March.

    So again wait and watch game is still there.
    Nope, I've brought the balance down to near zero and now have it filled up to couple thousand Euros. I can still make payments on PayPal balance. All this after March 1st 00:00 GMT +1.

    I hope it remains the same and not trouble us too much. What I really dont want is that the transactions to be reversed. That'll screw things up big time for me.
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  11. #136
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    Quote Originally Posted by InfiniteTech View Post
    Nope, I've brought the balance down to near zero and now have it filled up to couple thousand Euros. I can still make payments on PayPal balance. All this after March 1st 00:00 GMT +1.

    I hope it remains the same and not trouble us too much. What I really dont want is that the transactions to be reversed. That'll screw things up big time for me.
    Btw, are you an Indian user?
    Subodh Manikoth [Netmagics.com - In Business Since 2007]
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  12. #137
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    Quote Originally Posted by Subodh M View Post
    Btw, are you an Indian user?
    Yea, I was going to ask the same question
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  13. #138
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    Many of our Indian customers are having a problem with PayPal. It seems that all of them are transferring to Alert Pay.

    - Daniel
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  14. #139
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    Well somebody just told me that he called Paypal support and they told him that the deadline is March 6. Lets wait until then.
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  15. #140
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    Quote Originally Posted by Vinayak_Sharma View Post
    As Abidh gave that link to see the other side of the story, there are many other points that pops up, and one of the main point in my mind ever since withdrawal facility was activated, why paypal pay us in INR using their own conversion rate and why not in USD. Note that when you are not earning in USD you can not claim any export or foreign exchange earning benefits
    @Vinayak_Sharma - this is not as we see it. You get paid in USD/GBP/EURO (Client pay PayPal [your payment processor] in USD/GBP/EURO. Now PayPal [your payment processor] after deducting their charges transfer the money in USD/GBP/EURO on your behalf (specific withdrawal request). Thereafter they make an INR NEFT to you.

    You just need to contact the parent bank accepting the USD/GBP/EURO transfer in India and making the NEFT to you and ask them to issue you an FIRC [Foriegn Inwards Remittance Certificate]. Now you can claim all export benefit and are also exempt from service tax.
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  16. #141
    I just received this mail from paypal....

    With effect from 1 March 2011, PayPal will be complying with the requirements set out in the notification of the Reserve Bank of India (“RBI Guidelines”) governing the processing and settlement of export-related receipts facilitated by online payment gateways.

    In order to comply with the RBI Guidelines, we will be disallowing users from using any balance in and all future payments into their PayPal accounts to buy goods or services. Users will be required to use their credit cards for making such payments.

    Since our Mass Payment feature does not support payment from credit cards, we will be discontinuing this feature. Indian users will not be able to avail of the Mass Payment feature, that is, send Mass Payment through their PayPal account. However, all Indian users will be able to receive Mass Payment into their PayPal account.

    We regret any inconvenience caused to you and seek your understanding as we continue to employ our best efforts to comply with the RBI Guidelines in a timely manner.
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  17. #142
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    Quote Originally Posted by ashras99 View Post
    I just received this mail from paypal....

    With effect from 1 March 2011, PayPal will be complying with the requirements set out in the notification of the Reserve Bank of India (“RBI Guidelines”) governing the processing and settlement of export-related receipts facilitated by online payment gateways.

    In order to comply with the RBI Guidelines, we will be disallowing users from using any balance in and all future payments into their PayPal accounts to buy goods or services. Users will be required to use their credit cards for making such payments.

    Since our Mass Payment feature does not support payment from credit cards, we will be discontinuing this feature. Indian users will not be able to avail of the Mass Payment feature, that is, send Mass Payment through their PayPal account. However, all Indian users will be able to receive Mass Payment into their PayPal account.

    We regret any inconvenience caused to you and seek your understanding as we continue to employ our best efforts to comply with the RBI Guidelines in a timely manner.
    But are you able to send payments?
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  18. #143
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    They will block the payments from march 6
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  19. #144
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    How do you know that?
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  20. #145
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    See my previous post.
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  21. #146
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    *

    Quote Originally Posted by qualityhostings View Post
    Well somebody just told me that he called Paypal support and they told him that the deadline is March 6. Lets wait until then.
    Quote Originally Posted by qualityhostings View Post
    They will block the payments from march 6
    Quote Originally Posted by qualityhostings View Post
    See my previous post.
    Thats bullocks, you cannot rely on some fact like that (its not even a fact!).

    They might stop it today or might never stop it. Extremely unreliable right now.
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  22. #147
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    Quote Originally Posted by InfiniteTech View Post
    Thats bullocks, you cannot rely on some fact like that (its not even a fact!).

    They might stop it today or might never stop it. Extremely unreliable right now.
    I am not sure how a non-Indian is affected by this situation. Anyway, like I told before, lets wait until 6.
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  23. #148
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    There is paypal dispute going on with my friend's paypal account with a US client for a chargeback......

    Probably the outcome of the dispute may also get affected

    The chargeback was for services delivered, but the tricky client has put a chargeback for goods

    Waiting for the outcome
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  24. #149
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    Quote Originally Posted by WindsOfChange View Post
    @Vinayak_Sharma - this is not as we see it. You get paid in USD/GBP/EURO (Client pay PayPal [your payment processor] in USD/GBP/EURO. Now PayPal [your payment processor] after deducting their charges transfer the money in USD/GBP/EURO on your behalf (specific withdrawal request). Thereafter they make an INR NEFT to you.

    You just need to contact the parent bank accepting the USD/GBP/EURO transfer in India and making the NEFT to you and ask them to issue you an FIRC [Foriegn Inwards Remittance Certificate]. Now you can claim all export benefit and are also exempt from service tax.
    Well what I see is, paypal overseas transfer the money to Paypal India, to their own account with Citi Bank, and it is Paypal India that pay us in Indian Rupees. So for us it is a transaction between and Indian Company to Indian Company in India Rupees.

    But you have a point and I am going to discuss this with my CA.
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  25. #150
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    Quote Originally Posted by Vinayak_Sharma View Post
    Well what I see is, paypal overseas transfer the money to Paypal India, to their own account with Citi Bank, and it is Paypal India that pay us in Indian Rupees. So for us it is a transaction between and Indian Company to Indian Company in India Rupees.

    But you have a point and I am going to discuss this with my CA.
    Vinayak, I have files full of PayPal FIRC. Tell your CA you produce an FIRC for the NEFT transactions, if he still says not change your CA.
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