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Is PayPal Legal in India?

  • CharlesPandian
    Keymaster

    Is there any legal, Govt./RBI approved way of transfer of money from PayPal account to any Bank account in India?

    #36 August 10, 2007 at 5:42 pm
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  • nokik
    Participant

    I also have lots of queries regarding how to use PAYPAL account here.

    I opened a PAYPAL account as it was required after i signed up for some pay to post site. But neither i am getting dollars in the pay to post site nor do i know about using pay pal account .

    If some one have experience in using PAYPAL account please share info.

    THANKS 8)

    #514 September 1, 2007 at 12:42 pm
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  • CharlesPandian
    Keymaster

    Two days back, I receive the following message from paypal


    “Now you can add your Indian bank account to your
    PayPal account, so you can withdraw your money
    directly to your bank. It saves you time and gives
    you faster access to your PayPal funds!

    Plus, there is no charge to withdrawal amounts
    over INR 7000*. So, go ahead and add your bank account today! “

    I hope that it will be legal since it seems that the Indian banks are accepting that transaction.

    Some one please confirm it.

    #515 November 5, 2007 at 7:04 am
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  • krishna
    Participant

    Pay pal transactions are governed and regulated by The Cyber finacial transactions.

    The legal sancity of the transactions will be based on the nature of the intial transaction. ( like pornography is banned in countries like India, Singapore.)

    Not a lot of banks have tied up with PAYpal.

    However, you might recieve funds through your existing bank account and the bank will just act as a reciever of funds

    The Pay pal is also a member of the PCI ( called as Payment Card Industry in India)

    Hope this clarifies.

    #516 August 3, 2008 at 2:01 pm
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  • juanilata
    Participant

    What happens if i have insufficient funds in my paypal account? I am new to paypal and created an account only today because I wanted to sell something through ebay. However, I also bought an item today that costs around $5.00 and I don’t have any money in my paypal account. Will paypal automatically transfer the money from my checking account? If not, what do I have to do to pay the seller of the item?

    #517 October 6, 2009 at 10:19 am
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  • CharlesPandian
    Keymaster

    While the customers trying to transfer the existing fund to their bank accounts, the transfer failed and PayPal charged heavily for that failed transfer.

    Few days after the failure of the Paypal to bank transfer, Paypal returned the charges that was originally made during the failed transfer. But still Paypal is not confirming the possibility of Paypal to Indian bank transfer of funds.

    #519 February 21, 2010 at 6:05 pm
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