PayPal check/cheque limits for India
Posted on : 29-07-2010 | By : admin | In : Money, Online, World matters
Tags: check limitation, PayPal check, PayPal check withdrawal, PayPal cheque
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It appears the PayPal drama is garnering a fair bit of attention at the moment. Indian PayPal account holders have a withdrawal limitation of $2500 at the moment. Now the strange part is some people are complaining that in their PayPal accounts, this limitation is almost like a yearly limitation but that could be a default setting. Others have agreed that it’s a monthly limitation. This PayPal secret will unfold only once July ends.
It would be wiser to check the PayPal limitation once the month of August, 2010 begins. Most who’re checking their PayPal check/cheque withdrawal limits at the moment find that they can’t withdraw $2,500 and have lower limits. This can be attributed to the fact that all PayPal NEFT transactions made for the month have been deducted from the $2,500 limit. As such, if you have withdrawn PayPal funds via NEFT to the tune of $1,500, your check/cheque withdrawal amount will now show up as $1,000.
The PayPal check/cheque withdrawal limit should again reflect as $2,500 in August, 2010 but that’s yet to be seen. This is a decent PayPal limitation for most of us but it appears that such a limitation is shaping up as a tight noose for those doing big business. It’s not a crime to earn more money, so PayPal limitations must be assessed.
The reason we’re discussing this is because the PayPal NEFT withdrawal limitation may not be withdrawn overnight, and people may need to start considering PayPal check/cheque withdrawals.
Furthermore there’s another PayPal clause keeping the rumor mills active. Please be reminded that any payments received into your PayPal account from the export of goods and services cannot be re-used for making purchases or any other payments. I’m yet to find out more about this, and will update this space once I chance upon any PayPal updates.
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A new fact about Pay Pal :
I applied for a charity account with Pay pal because its free and supported by vbulletin software for payment subscription, I have all the documents like NGO Registration certificate, Memorandum of Society, Society PAN card, and the Bank details , bank details were verified by the Pay Pal by depositing amount of Rs. 2 and 40 paisa, after submitting all the document as per said in their website and in their emails, they denied me for the account, just because they have no tie-up with India regarding charity account, what the hell is this, why the pay pal people should not mention at the time sign up process. I have wasted around 1000/- rs in doing fax to pay pal and after 4-5 days they denied.
Don’t apply for a charity account with pay pal if you are living in India. Just wastage of time and money.
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