Hello Readers!!! Today I will be sharing a great news with you which will help you to know about the new changes made by PayPal India. The overall mind setup for PayPal India is that they have always been screwing the Indian Users and they always clarified their changes on the basis of the norms laid by RBI in India. So, you might be annoyed with RBI but RBI is not the only one who is responsible for all the blames and wrong doings by PayPal. PayPal is equally responsible for the problem caused to Indian Users.
They have mentioned about the new changes which will be taken in account from the starting of March, 2011. They have also mentioned that these changes are done so that they can comply with guidelines and norms of RBI. PayPal, which is well known for the biggest e-commerce business for money transfer over internet has been always screwing Indians and the new changes are mentioned as follows:-
- From now onwards the transaction will be limited by $500, so you cannot think of receiving any sort of big payments, they all are restricted now. Now most of the users will be pissed off after reading this information, it is enough for the users not to use PayPal anymore. But I have got one more point to share with you.
- All the balance money or the new money transfer in your account of PayPal cannot be used to buy any sort of service or the goods from internet. And once they have got any amount in their account then it should be moved to any other bank account within 7 days of the transaction. The simple reason behind this is a rule of RBI which states that if you are holding the public money for more than 7 days then you are supposed to them interest for that amount. So PayPal will not let you hold money in your account for more than 7 days.
The changes mentioned above are quite ridiculous and as far as my opinion is concerned then I would say that now PayPal cannot be used by any of the Indian Users anymore and it seems that PayPal itself wants to get rid of the Indian Users. We will keep you updated with any new changes found related to this news topic or any other topic which is related to it and anyhow if you get to know anything related to the news topics mentioned above then please do not hesitate to share it with us, just put it down in the comments section and if we found it genuine then we will be sharing that piece of information with all the other readers on your behalf, so keep searching something useful and then let us know about it. Till then keep reading, take care of yourself and have a nice day!!!