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
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Article by Harsh Agrawal
Harsh has written 1210 articles.
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{ 23 comments… read them below or add one }
This is very good news for Indian paypal users, and this news also proves that the alarm of reversal of $500+ receipts was false.
I am happy with this news . 500$ was really low amount , One more thing is remaining hope we can send payment through paypal in near future
thank god… PayPal atleast increased the limit, this will make many webmasters happy
What do you mean by purpose code in Paypal?
This is a great news.if paypal allow us to send money/buy products then everything would be back to normal.Hope they will do it soon
This is very good. It now solves majority of my problems
$3000 limit will satisfy all most every Indian paypal user.
… thanks Harsh! By the way, the popular affiliate/CPA marketing network cj.com also has introduced e-funds transfer/direct deposit for Indians into their bank a/c like Paypal in INR : )
I had so many problems with 500$/transaction limit ,This is really great news ,But still we can’t use paypal balance to pay ,We have to give two times currency conversion charges first $->INR than again INR->$ ,We are loosing money hope RBI do some thing about it ..
Thats Great news for Indians. I congrats to all the Indian users of paypal.
yippie this seems to be a good news, i really needed this upgraded limit.
This is something good i’m hearing after a long for Indian PayPal Users. Lately, we had faced many issues regarding their services but this news is like healing those pains RBI & PayPal have had given in past few months.
This is a great news, finally they have exceeded the limit. Few more issues need to be solved like ( auto withdrawal of money to the bank account & sending payments to someone ). Anyways one step at a time is good and something is better than nothing
Paypal is pretty much a dead channel for transactions, but for the lack of a better alternative – freelancers are forced to use the channel for accepting payments.
Thats one of the best news I heard from paypal… else it was close to dead in India.
Very sure that this decision of RBI will help 1000s of freelancer.
I wish paypal was operating like before. No limitation and no bondage to keep balance in the account. Everything with Indian Paypal is good now. But again we wish they restore balance keeping and transferring facility again.
That’s good for people like me who receive huge payments from US. Keep us informing about updates Harsh.
it’s really good decision which was taken by Paypal incorporation, ebay knows the pain of ecommerce users, and great amount of pressure from freelancers which makes them to take this decision in right time.
Well this looks good ! Paypal has done something better after such long delay ! Atleast something
its really a good news, now i think i can move to it. One more thing i would like to have from paypal to allow Donate button for Indian accounts.
I have entered my PAN number and PayPal even reflects that “verification successful” but then the next day I get an email that they have limited my account and I cannot accept payments. I click on the link they provide and I am asked to enter my PAN card again. I enter it again and two days later they send an email saying I can receive payments and the day after that they send another one saying I cannot receive payments. Then I have to re-enter my PAN card again. They refuse to give me a satisfactory reply though I send them an email almost every time.
Am I supposed to enter my PAN number everyday? It is so frustrating!
A welcome move by PayPal. There doesn’t seem to be any further increase after that. And there is also this notion that PayPal is not very safe for transactions involving high amount. So, the limit of $3000 should be more than enough.
Good to hear this. Paypal is one of the best way to export money. I think no we can move to paypal for getting my export payment. But $3000 seems much lower. It would be better if they rise some more amount.