Paypal In India Thread poster: Roy Chaudhuri
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Roy Chaudhuri 
India
Local time: 02:33
Member (2006)
English to Bengali
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SITE LOCALIZER
I would like to know from fellow Indian translators regarding whether accepting money through Paypal and transferring it to your account in India (through Paypal cheques) is conforming to the Indian law.
I was recently told by a banker that it is not as per law for an Indian to have a Paypal account in US dollars and then transfer money to your rupee account in India. But he could not substantiate what he said.
Roy Chaudhuri
| | | | keshab
Local time: 02:33
Member (2006)
English to Bengali
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SITE LOCALIZER | You can deposit cheques | Jul 28, 2006 |
Hi,
From Paypal helpline, I found the following directives:
Users in these countries can withdraw funds by paper check or to a U.S. bank account, but cannot withdraw funds electronically to their local bank account.
Argentina
Brazil
Chile
Ecuador
India
Jamaica
Uruguay
In general, I think it's better to get cheques and deposit them to bank although it's very time consuming i.e. you can get mone... See more Hi,
From Paypal helpline, I found the following directives:
Users in these countries can withdraw funds by paper check or to a U.S. bank account, but cannot withdraw funds electronically to their local bank account.
Argentina
Brazil
Chile
Ecuador
India
Jamaica
Uruguay
In general, I think it's better to get cheques and deposit them to bank although it's very time consuming i.e. you can get money after 20-25 days after depositing the cheque.
[Edited at 2006-07-28 06:46] ▲ Collapse
| | | | Niraja Nanjundan (X)
Local time: 02:33
German to English
| Sorry, can't help you much | Jul 28, 2006 |
Hello Mr. Roy Chaudhuri,
I don't have a Paypal account and none of my clients have asked for this payment method so far, so unfortunately I can't help you much.
I did ask my bank here in Delhi about Paypal once and they didn't really know much about it, so it doesn't seem to be a well-known payment method as far as Indian banks are concerned.
I think quite a few of our Indian colleagues do use Paypal, so maybe one of them can give you a more helpful reply... See more Hello Mr. Roy Chaudhuri,
I don't have a Paypal account and none of my clients have asked for this payment method so far, so unfortunately I can't help you much.
I did ask my bank here in Delhi about Paypal once and they didn't really know much about it, so it doesn't seem to be a well-known payment method as far as Indian banks are concerned.
I think quite a few of our Indian colleagues do use Paypal, so maybe one of them can give you a more helpful reply. You could also search the ProZ forums, in case this topic has already been discussed before, or contact someone who uses it directly.
Best regards,
Niraja
[Edited at 2006-07-28 08:23]
I posted this before I saw Keshab's reply.
[Edited at 2006-07-28 08:24] ▲ Collapse
| | | | | PayPal - Singapore | Jul 28, 2006 |
Dear Mr. Chaudhuri,
In addition to what Keshab has written, you may find this useful. I received this mail from Paypal last month which I am reproducing. As per this message, their Head Quarters in Singapore should start functioning beginning August 1, 2006.
Paypal's message:
PayPal, Inc. is pleased to announce that we are preparing to open a new regional headquarters, PayPal Private Limited, a PayPal group company incorporated in Singapore. These headqu... See more Dear Mr. Chaudhuri,
In addition to what Keshab has written, you may find this useful. I received this mail from Paypal last month which I am reproducing. As per this message, their Head Quarters in Singapore should start functioning beginning August 1, 2006.
Paypal's message:
PayPal, Inc. is pleased to announce that we are preparing to open a new regional headquarters, PayPal Private Limited, a PayPal group company incorporated in Singapore. These headquarters will be the service provider for PayPal customers outside the United States and the European Union. Going forward, this development will help us improve services for our customers worldwide.
....
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Until August 1, 2006, your customer relationship will continue to be with PayPal, Inc. (a U.S. company) under the PayPal User Agreement, which is governed by California law.
A New Customer Relationship with PayPal
With the opening of our new regional headquarters, your customer relationship will automatically be transferred to PayPal Private Limited. We anticipate that this will occur on August 1, 2006. At that time, we will introduce minor changes to the User Agreement and its incorporated policies, and to the Privacy Policy.
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If you have any questions prior to August 1, 2006 about these upcoming changes, please contact Customer Support. You can get contact information by logging in to your PayPal account and clicking Contact Us at the bottom of your Account Overview page.
Yours sincerely,
PayPal, Inc.
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Now the only option available is to request PayPal to send you cheque for amounts withdrawn from the account and then deposit it in your bank account in India. There is delay of more than a month to realise the proceeds from the day of deposit. With their HQ in Singapore start functioning effective Aug. 1, I hope, it will benefit all of us.
Good Luck,
(R. Raghunathan)
[Edited at 2006-07-28 11:02]
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In the light of Keshab's remarks, please ignore the message copied above said to have been sent by PalPal. I was not aware it was sparm.
Thanks Keshab.
(R. Raghunathan)
[Edited at 2006-07-28 13:42] ▲ Collapse
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Roy Chaudhuri
India
Local time: 02:33
Member (2006)
English to Bengali
+ ...
TOPIC STARTER SITE LOCALIZER | Paypal in India - My query | Jul 28, 2006 |
Dear All,
Thanks a lot for your replies. Actually my query is more regarding the legal point of view. As Indians we are not supposed to have $ accounts abroad. So if we bring money in via Paypal does it conform to the laws of the land !
Roy Chaudhuri
| | | | keshab
Local time: 02:33
Member (2006)
English to Bengali
+ ...
SITE LOCALIZER | Don't be trapped | Jul 28, 2006 |
R.Raghunathan wrote:
Paypal's message:
PayPal, Inc. is pleased to announce that we are preparing to open a new regional headquarters, PayPal Private Limited, a PayPal group company incorporated in Singapore. These headquarters will be the service provider for PayPal customers outside the United States and the European Union. Going forward, this development will help us improve services for our customers worldwide.
Please note that no action will be necessary on your part. You will be able to continue using your PayPal account as you do today.
Your Existing Customer Relationship with PayPal
Until August 1, 2006, your customer relationship will continue to be with PayPal, Inc. (a U.S. company) under the PayPal User Agreement, which is governed by California law.
Dear friend,
I think that you are promoting a spam which you received by e-mail. Because the name of the company is only "PayPal". It's neither ' PayPal, Inc.' nor 'PayPal Private Limited '. It is an ebay company, not a U.S. company. The motive of this email only to know your monetary secrets and password and it ultimately cheats you. Many in the world receives this type of email. So you should do nothing but delete the mail.
If you want to know the reality, kindly log on to "www.paypal.com"
| | | | | Legal aspects | Jul 28, 2006 |
Roy Chaudhuri wrote:
Dear All,
Thanks a lot for your replies. Actually my query is more regarding the legal point of view. As Indians we are not supposed to have $ accounts abroad. So if we bring money in via Paypal does it conform to the laws of the land !
Roy Chaudhuri
Dear Mr. Chaudhuri,
You are not opening any $ Accounts in the real sense. PayPal facilitates transfering the professional charges earned. Once the credit comes to PayPal, you get the intimation and transfer the money to your bank account either by way of electronic transfer (In India it is not possible) or by way of deposit of Foreign currency cheque.
Here, by depositing the cheque into your account and declaring it as your income earned for professional services rendered, and so long as you include this in your tax return, where is the hitch? The Government of India should welcome people earning money this way, and honestly paying tax as well.
The legal guy in our office also feels there is no violation of any Govt. regulations here.
(R. Raghunathan)
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So long as you declare it as your income and take it in to consideration for your sales income and file appropriate tax return I do not think you will be violartinf any law as such.
Ravindra Godbole
| | | | Ravi Kumar
India
Local time: 02:33
Member (2005)
Hindi to English
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| Funds needed in my paypal account | Jul 28, 2006 |
Dear Friends
Many time our translators ask us to make payment via paypal. Fortunately I have paypal account, but I have very little funds in it. Generally my clients pay us via bank transfer.
But i need funds in my paypal account. If any one of you in India has surplus funds in paypal, please contact me. I may request you to please send me some funds I shall pay via cheq... See more Dear Friends
Many time our translators ask us to make payment via paypal. Fortunately I have paypal account, but I have very little funds in it. Generally my clients pay us via bank transfer.
But i need funds in my paypal account. If any one of you in India has surplus funds in paypal, please contact me. I may request you to please send me some funds I shall pay via cheque in India.
Ravi Kumar
www.modlingua.com
[Edited at 2006-07-28 15:41] ▲ Collapse
| | | | | Transfer from your credit card | Jul 29, 2006 |
Allied Modlingua wrote: Dear Friends Many time our translators ask us to make payment via paypal. Fortunately I have paypal account, but I have very little funds in it. Generally my clients pay us via bank transfer. But i need funds in my paypal account. If any one of you in India has surplus funds in paypal, please contact me. I may request you to please send me some funds I shall pay via cheque in India. Ravi Kumar www.modlingua.com [Edited at 2006-07-28 15:41]
Ravi,
How are you?
You can simply transfer money from your credit card to your PayPal account by going to your profile which you can use for further transmission. But, you can also use your credit card for paying money to any other PayPal account by accessing that person's profile. I think, this will be a better option as there will be one transaction fee instead of two.
Regards,
(R. Raghunathan)
| | | | | Re:Paypal in India | Sep 22, 2006 |
I do not use Paypal service. So I can not comment on its legality on rupee transfers through dollar account. The safest way to send money is through NRI account and it’s legally allowed. I have been using citibank NRI account for this purpose for almost a year now. I was satisfied with their service too.. Probably you can use this method too to be on the safer side.
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