A few days ago, I read in a forum that a guy who holds a PayPal account registered with an Indian address could no longer receive personal payments to his PayPal account. According to him, the payments that were sent to his account were automatically reversed and sent back to the senders.
I thought it was just a temporary glitch but at this point, it certainly looks serious and if I hold an Indian PayPal account, I would be extremely worried too. Heck, I am worried even though I hold a Malaysian PayPal account because of our erratic policies.
Anyway, at this point, PayPal has suspended all personal payments to PayPal accounts registered in India. PayPal has also suspended withdrawal (or transfer) of funds to local banks. According to a source, PayPal took this move because of new Indian policy that requires the identification of people who are involved in international money transfers and PayPal is not able to do so.
I'm going to keep tab on this one.
I thought it was just a temporary glitch but at this point, it certainly looks serious and if I hold an Indian PayPal account, I would be extremely worried too. Heck, I am worried even though I hold a Malaysian PayPal account because of our erratic policies.
Anyway, at this point, PayPal has suspended all personal payments to PayPal accounts registered in India. PayPal has also suspended withdrawal (or transfer) of funds to local banks. According to a source, PayPal took this move because of new Indian policy that requires the identification of people who are involved in international money transfers and PayPal is not able to do so.
I'm going to keep tab on this one.
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