• PayPal and RBI have agreed to let Indian PayPal users receive up to $3000 as export related remunerations. The limit for amounts that can be received earlier was set at $500, which was very low. PayPal would automatically return any payment exceeding $500 to the sender, if the recipient was based out of India. However, the latest update from PayPal confirms that this limit has now been upped to $3000k, which should be more than enough for many PayPal India users. Here's the update from PayPal -

    [TABLE="width: 100%"]
    [TD="width: 77%"]In order to comply with the RBI Guidelines, all PayPal users in India must:

    • Add a Permanent Account Number (PAN) and Purpose Code.
      By adding this information, you will continue to receive export-related payments into your PayPal account and your account will not be limited from receiving future payments.
    • Add a bank account in India.
      This will help us to auto withdraw your PayPal balance out of your PayPal account and transfer your balance to your bank account in India. Note: If you don't add a bank account in India to your PayPal account then your PayPal account will also be limited from receiving export-related payments.

    Now you will be able to receive export-related payments of up to USD 3000 per transaction into your PayPal account.

    Check back again as this is a developing story!
Howdy guest!
Dear guest, you must be logged-in to participate on CrazyEngineers. We would love to have you as a member of our community. Consider creating an account or login.
  • Rupam Das

    MemberOct 14, 2011

    And there is no limit for politicians Huh! I wonder If we are to receive 10k$ or more which is quite a case in some deals these days, then how we collect the amount? PayPal is linked to pan and bank account and there is still a limit! Done with democratic Hippocratic Policies!
    Are you sure? This action cannot be undone.
Home Channels Search Login Register