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PayPal ‘Close to Dead’ in India


Are you Indian and using PayPal service to receive payment from foreign clients and advertisers, here’s  intimidating news for you.

New rule for PayPal account holder in india is..... 
  1. If you are based in india and using PayPal account than You’ll not be allowed to receive payments that exceed $500 per transaction. 
  2. You won’t be able to keep any money in your online PayPal Account, all money received into PayPal must be transferred to your Indian bank account within 7 Days follow by March 1st. 
  3. You’ll not be able to buy goods using the money that’s in your PayPal account. 
  4. If you have to make payments via PayPal to someone, the money should first be transferred to PayPal using your bank’s credit card.

PayPal has taken all these steps to comply with the RBI guidelines. This is real bad news for PayPal Indian customers.
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