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03-03-2011, 11:03 AM #126Web Hosting Evangelist
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I have USD as primary currency, Verified, Credit Card, bank accounts added, no withdrawl limitations and seeing Paypal Balance
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03-03-2011, 11:05 AM #127Web Hosting Master
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Last edited by InfiniteTech; 03-03-2011 at 11:10 AM.
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03-03-2011, 12:14 PM #128Web Hosting Master
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It is showing "PayPal Balance" for me
http://screencap.net/f/6265af19.png███ SunShell™ Hosting
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03-03-2011, 12:59 PM #129Always Learning...
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It shows "USD Balance" as payment method when you pay someone, not in your account overview.
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03-03-2011, 01:02 PM #130Web Hosting Master
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03-03-2011, 01:06 PM #131Web Hosting Master
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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 research0
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03-03-2011, 01:32 PM #132Always Learning...
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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.Vinsar.Net - Quality Web Hosting at Economical Price on USA & European Servers
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03-03-2011, 01:34 PM #133Web Hosting Master
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03-03-2011, 02:01 PM #134Web Hosting Guru
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█▌Subodh Manikoth [Netmagics.com - In Business Since 2007]
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03-03-2011, 02:02 PM #135Web Hosting Master
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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.0
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03-03-2011, 02:05 PM #136Web Hosting Guru
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█▌Subodh Manikoth [Netmagics.com - In Business Since 2007]
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03-03-2011, 02:17 PM #137Web Hosting Master
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03-03-2011, 02:33 PM #138Managed VPS Experts
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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.
- Daniel0
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03-03-2011, 02:40 PM #139Web Hosting Master
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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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03-03-2011, 02:42 PM #140Aspiring Evangelist
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@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.0
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03-03-2011, 06:02 PM #141Web Hosting Evangelist
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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.0
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03-04-2011, 01:04 AM #142Web Hosting Master
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03-04-2011, 01:59 AM #143Web Hosting Master
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They will block the payments from march 6
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03-04-2011, 02:01 AM #144Web Hosting Master
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How do you know that?
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03-04-2011, 02:03 AM #145Web Hosting Master
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See my previous post.
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03-04-2011, 02:07 AM #146Web Hosting Master
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03-04-2011, 02:18 AM #147Web Hosting Master
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03-04-2011, 02:41 AM #148Disabled
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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 outcome0
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03-04-2011, 07:07 AM #149Always Learning...
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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.Vinsar.Net - Quality Web Hosting at Economical Price on USA & European Servers
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03-04-2011, 07:10 AM #150Aspiring Evangelist
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