In last couple of months we have seen many issues related to PayPal and some of them were :
- Maximum single transaction limit to $500
- Can’t use PayPal money for buying/Shopping
- Auto withdrawal of Paypal money to bank every day.
- Pan Card no.
- Purpose code for withdrawal.
Obviously none of them came as good news for Indian PayPal users. Though they removed the withdrawal charge or Indian users and that was one good news. Couple of days back, we read about that PayPal is also refunding all the transaction above $500 which you have received after March 2011 but honestly it sounds like a rumor or case with 1-2 as no one has faced such issues.
Anyways, here is some good news for Indian freelancers and Webmasters that PayPal has increased the limit to $3000 from earlier $500 effective immediately. It means, in a single transaction you can receive money up to $3000 and I believe this will take care of atleast 99% of issues with PayPal. As most of Indian freelancer receive the money and they withdraw it to their account. Sadly, you still can’t use PayPal money to send it to someone. So, this might increase some cost for you as money will be charged from your linked credit card and rates are higher. But none the less, this new increased receiving limit to $3000 made my day and I’m sure all other Indian PayPal users must be feeling the same.
If you left using PayPal and have used any alternative, now you can start using PayPal again but you have to do couple of things:
- Your account should be verified: You can do that by linking it to your bank account
- PAN card number. If you are below 18 & Don’t have Pan card, you can ask your parents to create a PayPal account under their name,
- Purpose code