Upcoming changes to PayPal User Agreement for India

Two days ago on jan 28th i received  email from paypal team which  shows amendments in agreement for Indian users.Its been a while before when PayPal suspended there operations in India temporarily. And know again PayPal has brought a bad news to the Indian users. PayPal now trying to become a Law following organization is trying to follow the guidelines of Reserve Bank of India.

PayPal on RBI guidelines has added certain restrictions regarding fund management in PayPal which are:-

1. Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services; and
   
2. Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.

PayPal has taken all these steps to comply with the RBI guidelines so we can’t really blame them but this is real bad news for their customers in India.

for more info visit here