hi got reply from paypal reg change in TOS in india

India
February 17, 2011 9:23pm CST
i have send a mail like below message: 'hi i have a doubt regarding recent updates in TOS in india if i have less than ##$ balance in paypal what will happen to it can i with draw to my bank account thank you below is the reply i got Dear Thanks for contacting PayPal. I appreciate the opportunity to assist you with your questions. According to the RBI guidelines starting March once you have money on your account you should transfer it your bank once you have receive a confirmation from us. Meaning even if it is less than $10.00 you can withdraw it to your bank. Thanks for sharing your concerns with us. We value what you have to say, and we know situations like this can be difficult. If you have more questions, visit our Help Center by clicking "Help" in the top right corner of any PayPal page. Sincerely, Meriam PayPal, an eBay Company Copyright© 2011 PayPal Inc. All rights reserved. Consumer advisory: PayPal Pte Ltd, the Holder of the PayPal™ payment service stored value facility, does not require the approval of the Monetary Authority of Singapore. Consumers (users) are advised to read the terms and conditions carefully.
2 people like this
5 responses
• India
19 Feb 11
then its good for us to transfer the money to our bank account and one more thing is their any charges or some thing like that to transfer our money from paypal to our bank account
1 person likes this
• India
19 Feb 11
defiantly there will be charges better to contact again for this issue
1 person likes this
• India
22 Feb 11
so can we keep our money in pay pal or is their any limit we cannot keep more than that amount? and do you know about the charges how much they charge us for transfering the money from paypal to our bank account
1 person likes this
• India
22 Feb 11
paypal will confirm by mail then you need to withdraw your amount
1 person likes this
@akp100 (13640)
• India
18 Feb 11
Hi their.. Thanks for giving valuable updates.. Now its all clear. Because of that we shouldn't transfer money to our paypal below 2$ .. otherwise it will be ended in zero. So better keep that thing in mind.. Or hope paypal will not take any fees.. so people can even withdraw 1$.
@akp100 (13640)
• India
18 Feb 11
Yes ... Thats what i am saying.. Paypal should cancel those 50 Rs fees when any Indian user withdrawing below 10$.. I guess that will solve the problem..
1 person likes this
• India
18 Feb 11
hi akp agree with you you must withdraw after conformation from them
@thesids (22180)
• Bhubaneswar, India
18 Feb 11
Hi onlineTraveller, Thanks for the info. That reminds me that I am yet to get my responses from them. But as is evident in the email from them to you, we are going to be in a more messy situation because they will make more of the Service charges (the fee to transfer to our banks @Rs. 50.00)
1 person likes this
• India
18 Feb 11
hi sid it is a disappointment for online earners like us lot people will lose faith on online earnings
@thesids (22180)
• Bhubaneswar, India
18 Feb 11
Yes, The RBI is now under control of people who are pro-rich and not pro-common people like you and me
1 person likes this
@sajeevking (5073)
• Mumbai, India
27 Feb 11
Hey thank for this valuable info i was confuse about it before but now i think all we got to do is earn more than 50rs like if we transfer 2$ then we would only get 40 rs or so that would be really bad i think they should have only made it necessary to transfer it to our bank when it reach above 10$ that would have help us a little
• Mumbai, India
22 Mar 11
Nothing has change in paypal it same as before
• India
22 Mar 11
i tried to transfer amount less than 10$ but it is not working paypal is same as before now
@lucky119 (643)
• India
18 Feb 11
This further complicates the issue. So if we have $1, we have to transfer it to bank account and in the process pay the transaction fee, which is 50 Rs. So we end up getting nothing.
1 person likes this
• India
18 Feb 11
they will sen an e mail to withdraw you needh to with draw with in 7 days after that