New Paypal regulations

viralbug

viralbug

Skilled
I received a mail from Paypal today and this is what it says:

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• Any proceeds or earnings received into your PayPal account from the export of goods and services should be withdrawn to your bank account within 30 days.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• Any proceeds or earnings received into your PayPal account from the export of goods and services may only be withdrawn to your bank account in India.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
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This is ridiculous!! :mad: What's the use of Paypal? :|

Also, when they say "Any proceeds or earnings received into your PayPal account from the export of goods and services should be withdrawn to your bank account within 30 days." what happens after 30 days? They can't take the money away can they?
 
viralbug said:
I received a mail from Paypal today and this is what it says:

This is ridiculous!! :mad: What's the use of Paypal? :|

Also, when they say "Any proceeds or earnings received into your PayPal account from the export of goods and services should be withdrawn to your bank account within 30 days." what happens after 30 days? They can't take the money away can they?
Click to expand...

May be they automatically credit it to your bank account after 30 days.
 
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