http://www.macworld.com/article/146246/2010/02/paypal_india.html

https://www.thepaypalblog.com/2010/02/update-on-paypal-situation-in-india/

Will this affect LHSes and RC hobbyists while buying from outside India ?

hmm..I had some balance on my paypal and I purchased some goods from dealextreme a couple of days back and after a day or two paypal reversed that amount and left me with a negative balance.

I was amazed to see that and now am seeing your post here..I believe they have stopped personal payments from india as they are regulating transfers from abroad as well as from india.

So, I guess we will have to pay directly from credit card and bear some extra charges..

shuckss..

My Oh My!! I use e-bay for loads of non R/C purchases, like I recently bought Cooler Fan for my laptop for just Rs 750/- for which the 'Geniuine' HP 'Franchise' was asking Rs 5000/- and a month's wait. I have no intention to feed these unethical franchise as LHS sentiments doesn't hold true for those fleecers.

I guess this is quite disturbing. Hope this doesn't follows the suite of blanket ban on R/C and toy import which has been prolong indefinitely.

Update: Paypal is still working atleast with my MasterCard credit card. I just flushed my pending Deal-Xtream  cart (misc camera stuff, DIY electronics,  Trainee Landing kit and pitch gauge for Heli).
Guess should do the same with my other pending carts...

If DealExtreme has an Indian face (commercial registration), then Paypal would allow it.  It is transfers going out of India and coming into India that seem to be affected.

ANYBODY WANT PAYPAL FUND AGAINST BANK DEPOSIT?

Contact me immediately.

I have paypal fund which can be sent to you against the bank deposit.

LET ME KNOW AS SOON AS POSSIBLE.

Thanks

Quote from: sriharishine on February 10, 2010, 08:13:41 PM
ANYBODY WANT PAYPAL FUND AGAINST BANK DEPOSIT?

Thats the original problem, prompting authorities to take such drastic step. Well I completed 2 Paypal payments todays , for both  of which I got confirmation SMS form my CC bank.

Sit tight till the service suspension confirmed to your mail and dont do panic shopping..

So you have withdrawn the payment from paypal today right?

How did you do that? When I tried, It just get cancelled and took money.

Yes, Paypal is making us big fool. When I make a withdraw request its currency conversion rate is Rs. 45.06 for 1 USD but when reversing it considered the 1 USD as Rs.48.34 and deducted a huge amount from my paypal balance.

Please let me know the solution.

ujjwaana, When did you made that withdrawals???

Hey Ujjwal,

What is your mobile number?

I think the issue is with personal accounts only and not business accounts.
I own a business account, and can easily make payments and withdraw too.

Sriharishine,
Paypal is not making us big fools. Their currency conversion has always been less by 2-3 rupees. If that is ok with you use thier service, else do not do withdrawlas, and use up all money in buying goods from foreign sites that accept Paypal !!!

I think the problem is with Personal payments only, like sending money to a friend/relative and not for online shopping. I think we still can shop with DE/HC/EBAY etc. 

Quote from: gauravag on February 10, 2010, 08:43:14 PM
I think the issue is with personal accounts only and not business accounts.
I own a business account, and can easily make payments and withdraw too.

Sriharishine,
Paypal is not making us big fools. Their currency conversion has always been less by 2-3 rupees. If that is ok with you use thier service, else do not do withdrawlas, and use up all money in buying goods from foreign sites that accept Paypal !!!

Hi Guaravag,
I too have business account only, Some of clients pay as personal payment which was reversed to their account and then they paid as for goods/service.

When I made withdraw in the money sent as personal money, It just reversed, When I made withdraw the currency rate was Rs.45.06 against 1 USD. But when it was reversed they calculated the currency conversion rate as Rs.48.34 for 1 USD. IS THIS RIGHT?

This happened in a day. I know and agree the currency conversion rates of payapl. But this is really making fool by having huge difference in withdraw rate and reversal rate right?

Sri Hari, I read that paypal will reimburse the conversion charges, so relax.

Thank you Vinay, I too hope, If they do so, then I will post here.

I haven't read the entire post, but seems like the cry   is about paypay withholding the currency conversion etc. Well I had 2 of my paymnets reversed this month and the conversion or currencly charges got reveresed the next day. So relax paypal is not cheating anyone.

Paypal no longer supports sedning money as gift from and to india (saarting this feb). If one wants to send money from or to India, you just need to select good and services and give a address.

The problem seems to be only limited to personal transfers. I successfully made a purchase from HC and Ebay today w/o any problems. And my CC got debited accordingly. So Online purchasing is not affected.

Vinay, BTW could you please check for me what dollar-rupee conversion was applied to your HC order today ?
I think the conversion that paypal uses is around 10% less than the market rate, and in which case, it is sometimes useful to use your MasterCard directly, with the 2% added on Hobbycity and other online shopping sites

I may be wrong, but it would be good if you could confirm this for me.

Thanks

If you pay directly by credit card the charges are $1.26..I think for HC a 3.4% + fixed fee is alloted not sure about this...kindly confirm..

I remember it was 47.9 yesterday. going through paypal is always safe.

EDIT: AFAIK HC absorbs all the paypal charges. so no worries there. Thats one of the best part of HC among many.

EDIT:

From amount   Rs.4,016.64 INR
To amount   $83.79 USD
Exchange rate: 1 INR = 0.0208607 USD

@vinay
better explained exchange rate(in the last line)
1$=47.937029917500371511981860627879[or similar-mental calculation of mine in a minute or so..too slow]

Ha Ha, But thats how Paypal displays it.

Hi Guys  ,

I have a question. I am looking to buy something from Ebay and the seller says, "International buyers welcome as long as your address has been PayPal verified and you transfer funds via PayPal within 48 hours after purchase"

I need to set up a Paypal account and put in the CC info and get the code verification and then get address verified etc... Any clue on how long does this procedure take? 

And does the ban you guys have been talking about apply to this transaction as well (I do not intend to keep funds in Paypal, just use CC and be done)

Thanks.

It will take 3 days max to verify your CC.

No the ban will not apply for buying from EBAY/International stores etc.

Thanks vinay for IMMEDIATE reply,

Hmm... 

Any other way make this purchase quicker? The reason being, I have a discount coupon which I want to use and it expires on Feb 28. 

Once you  create a paypal account then you can use 500$ before verification. However you can send your ebay vendor a Pm asking him if he is ready to accept from non verified account. Tell him you are new to paypal and you cant immideatly get verified account.