Paypal asking my PAN no

J

jennifer123

Disciple
Does anybody face this issue? Today when I am logging in to Paypal, it asks my PAN number. But it doesn't accepted my PAN no even if I ENTERED CORRECTLY.

Any idea, why? Is it required?
 
Have any of you had problems withdrawing money to your accounts?

I tried to withdraw money to my Savings account on the 5th of March and they reversed it and cost me a significant chunk of money in the process!

First they said that that payment withdrawals would be reinstated by the 3rd of March even though my transaction was clearly initiated on the 5th of March.

After several emails back and forth, they finally concluded that the banking details were wrong which obviously is untrue.

I don't know how to proceed with these guys. All their emails are pre-formatted letters and they never really review your problem and provide a solution. Just dead ends!

I just clicked on the PayPal logo on the corner and it by passed the PAN number form.
 
From here
India's fiscal deficit soared by 34 per cent to Rs 3.5 lakh crore in the first ten months of the financial year against Rs 2.62 lakh crore a year ago, mainly on account of the stimulus measures taken by the government to prop up the economy hit by the global financial crisis.
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They'll either have to print more money to ease this deficit or raise taxes or find new sources of revenue. This month long paypal ruckus is probably a part of that agenda.
 
They'll either have to print more money to ease this deficit or raise taxes or find new sources of revenue. This month long paypal ruckus is probably a part of that agenda.
Click to expand...

Lol they cant print money, we are not a superpower like the US or Euro area, we need some underlying asset to print more money. IE if we just go on printing money, the dollar will appreciate a lot making oil imports extremely expensive, which will trickle down to mega-inflation like scenario.

Paypal ruckus, is primarily to check the illegal money laundering going on. Paypal taxes are almost negligible if you take the whole tax basket. Infact this is one of the brilliant ideas of RBI, which will be adopted soon by the western economies. Money transfer is a tightly regulated business, and through Paypal people could bypass all scrutiny. Infact the FED, is planning a similar concept in the US.
 
Paypal was totally unregulated till now, ppl used to transfer black money, avoid taxes, just basically cause it was unregulated, now they are probably submitting info to the rbi and income tax dept also..
Paypal has almost become a bank, only fair that it gets regulated under rbi guidelines..
 
Am, just a kid, i dont pay taxes :* neither do i have my so called PAN CARD :( wtf am i gonna do now ?

RBI : fookin fart burners thats wat they do :mad:
 
I entered my PAN no and it worked without any problems

hector19 said:
Am, just a kid, i dont pay taxes :* neither do i have my so called PAN CARD :( wtf am i gonna do now ?

RBI : fookin fart burners thats wat they do :mad:
Click to expand...

Yeah, Even 3months old can be PAN holder. so stop cribbing :p
 
EVEN I entered my PAN number. . but it is not accepting it :(

Have mailed them about the issue. Lets see what reply i get .

Good step none the less to curb black money trafficking !
 
My pan card number worked but my money is stuck and they are asking for Invoice which was a personal payment made by one my friend since I sold my old PC to him.

A** I sold my PC to my even before the issue of paypal came in India and its been 3months. Damn.
 
Well correct me if I am wrong, but how exactly does the money that you are receiving via PayPal constitute Black Money?

PayPal India gives you only 3 options to draw your money out of your PayPal account

1) via Cheque
2) via Direct Bank Account Transfer
3) via Credit Card Fund Transfer

No where in those limited options is it possible for the money to go unaccounted. The minute the funds enter your Bank account, it comes under the purview of the Income Tax department.

So how exactly does it constitute black money?
 
Satan said:
Well correct me if I am wrong, but how exactly does the money that you are receiving via PayPal constitute Black Money?

PayPal India gives you only 3 options to draw your money out of your PayPal account

1) via Cheque
2) via Direct Bank Account Transfer
3) via Credit Card Fund Transfer

No where in those limited options is it possible for the money to go unaccounted. The minute the funds enter your Bank account, it comes under the purview of the Income Tax department.

So how exactly does it constitute black money?
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I don't use Paypal but thats shocking to know I though Paypal allowed Paypal to Paypal transfers.
 
You can buy stuff of it. And all that is unaccounted for.

This is the reply i got from them , regarding to this topic :

Dear Praful Kumar,

Hello my name is Jonathan. I am sorry to hear about this situation, and

understand your frustration and concern regarding this inconvenient with

the PAN number.

Answering your concern i can tell you that in order to resolve this

inconvenient we need to wait 24 to 48 hrs. for us to get the the update

about it. However, you can access your account clicking on the PayPal

logo once that you will see this access with the PAN number and you will

be able to access the account even if we does not have the logo yet.

We know situations like this can be difficult, so thanks for working

with us. If you have more questions, visit our Help Center by clicking

"Help" in the top right corner of any PayPal page.

Sincerely,

Jonathan

PayPal, an eBay Company
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