Attention Sellers! A New Paypal-RBI Issue!!

Written by Anurag Bhateja on April 9, 2010 – 11:30 am -

I received a mail today from paypal in which the following quoted text was included:

In compliance with Indian regulations, if you are selling products and services to customers globally, please review the following important information:

•       Any proceeds or earnings received into your PayPal account from the export of    goods and services should be withdrawn to your bank account within 30 days.

•       While making the withdrawal please make sure you select the purpose code that best fits your business.

•       Any proceeds or earnings received into your PayPal account from the export of goods and services may only be withdrawn to your bank account in India.  This received amount cannot be reused for making purchases.

•    If you would like to make purchases on any website that accepts PayPal, you can continue to use any credit card issued by a bank in India.

For any questions, please reach out to our customer support teams by following the steps below:

1.     Log into your PayPal account

2.     Click “Contact Us” at the bottom of the page

3.     Click on “Send Us” an email or “Call Us” to reach us by phone

We cannot thank you enough for your continued attention and patience.


Thank you,

PayPal

Now after reading the above mail, what I can understand is, I can not use my paypal funds anywhere! I can not update my domain panel, I can not buy pro flickr account or pay for my Yahoo!Mail pro account! What I do not understand is, why Govt. of India wake up after such a long time. Why they can not check all these things when they were started. Due to this, I have to wait for atleast 3-5 days and above that I have to pay for the transaction charges, currency conversion charges and if by any means, payment is returned then bounce back charges. Over all paypal, which was used to be the best method of payments is now becoming a problem as RBI has some rules and paypal is not able to fulfil the requirements! In all this fuss who is suffering the most is companies like mine where payments are received and sent via paypal every week!

Moreover they want me to use credit card even though I have funds in paypal which I really do not want to use :(. Anyway, I am looking forward to see what shocks I will get in coming days fro paypal and RBI.

UPDATE:

Got a reply from paypal on this.

Hello xxxxxxx,

Thanks for forwarding that suspicious-looking email. You’re right – it
was a phishing attempt, and we’re working on stopping the fraud. By
reporting the problem, you’ve made a difference!

Identity thieves try to trick you into revealing your password or other
personal information through phishing emails and fake websites. To learn
more about online safety, click “Security Center” on any PayPal webpage.

Every email counts. When you forward suspicious-looking emails to
spoof@paypal.com , you help keep yourself and others safe from identity
theft.

Your account security is very important to us, so we appreciate your
extra effort.

Thanks,

PayPal

So you can cheer up :)




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R.I.P. Brittany Murphy

Written by Anurag Bhateja on December 21, 2009 – 11:06 am -

A very tragic and sudden death of a beautiful hollywood singer and actress shook the fans today. According to news, Brittany died at a young age of 32 due to cardiac arrest. Brittany was well known for the movies like “Clueless” and “8 Mile”. As per news she was suffering from flu like symtoms from last few days as was under medication. At around 8:00 AM , the LA fire department answered to emergency call and tried to rescue her from her bathroom where she collapsed due to sickness.

Later at 10:04 AM she was declared dead due to cardiac arrest. May her soul rest in peace.




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Sri Lankan Cricketers Shot in Pakistan

Written by Anurag Bhateja on March 3, 2009 – 9:52 am -

Now this is bad or I should say worst. 7-8 Sri Lankan cricket players shot by an unknown person outside Gaddafi Stadium in Lahore Pakistan. As shown on Television, when players were going inside the stadium for Test Match, a person opened fire on them. In the attack 8 players got hurt and 5 policemen died. It is also said that 2 bomb were thrown on them.

Updates will come here as more news on TV will come.




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Posted in News Updates | 3 Comments »

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