Paypal's new export policy for India.

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amol_cool said:
Yep I just did about 5-6 days ago and I got the funds just like before.
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1. Does the process actually take 5-7 days?

2. PAN verification complete, PP verified member, withdrawal details were perfect: any reason to be concerned?
(first PP-bank withdrawal, hence the jitters)

3. Lower exchange rate?
Exchange rate at the time of transfer: 1 USD = 44.5 INR
Rate of Conversion via PayPal: 1 USD = 43.X ??? :huh:

TIA.
 
Everything is working normal.Yesterday I brought 2 domains using my paypal balance.And I have not received any mail stating such policies.
 
thetoxicmind said:
1. Does the process actually take 5-7 days?

2. PAN verification complete, PP verified member, withdrawal details were perfect: any reason to be concerned?
(first PP-bank withdrawal, hence the jitters)

3. Lower exchange rate?
Exchange rate at the time of transfer: 1 USD = 44.5 INR
Rate of Conversion via PayPal: 1 USD = 43.X ??? :huh:

TIA.
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Usually the amount is credited within 2-3 Working Days, but few times it has taken about 5-6 days for the money to be credited.

Yes exchange rate is much lower than the actual rate, they have some 3% currency conversion fee.
 
Didn't get the email but when i logged into paypal today morning, it asked for my PAN no. as per the new Income tax rule by the govt. of india. No other option than to enter the no. to make any txn. I typed in the no. and everything went back to normal.
 
spawnfreak said:
Didn't get the email but when i logged into paypal today morning, it asked for my PAN no. as per the new Income tax rule by the govt. of india. No other option than to enter the no. to make any txn. I typed in the no. and everything went back to normal.
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Actually you CAN bypass the PAN no. When on that screen, just click the 'Accounts' link at the bottom. I have even withdrawn money doing this and had no problems till now. Of course I still recommend using PAN no if you have it but just in case someone like me who either doesn't have PAN or is in process of getting one has $$ stuck in paypal.
 
Arun1 said:
Isn't there some special bank accounts for exporters which stores in the foreign currency itself?
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Yeah. I wanted to know bit more about that too. Does anyone here know how to go about getting an account like this?
Like, can the company be a proprietorship or does it have to be a Pvt Ltd or Partnership?
 
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