chandannasta 4 Report post Posted February 3, 2011 Hi everyone, I would like to know if transferring money from Moneybookers to paypal and paypal to moneybookers for others is legal or not? For e.g if a person who has paypal account and does not have moneybookers account and if I have both and I help him out then is it legal or illegal let me know? If its illegal then what are the safety measures that you should take to do it in a legal way? Share this post Link to post Share on other sites
Arun 795 Report post Posted February 3, 2011 You have to depend on third party exchange services who will do that for a fee. However there is no guarantee that it will be safe. It certainly isn't legal. At some point of time the transactions could be in scrutiny by Moneybookers or PayPal and may request for an explanation for the money sent or received to the "third party exchange account". Your account can get limited if such a situation arise, so it is better not to do it. Share this post Link to post Share on other sites
kshah 452 Report post Posted February 3, 2011 From 1st march due to GOI, policies of paypal is changing, like one can not sent payments out from paypal account from money received by paypal against sale. Money must me transferred to bank account within 1 week of receipt and so on. So first read all erms and conditions and then choose. You may also check CC AVENUE - Indian reasonably priced credit card processors. Share this post Link to post Share on other sites
petar 15 Report post Posted February 3, 2011 PAYPAL INDIA also needs you to update PAN number... so all transactions can be & will be monitored. Share this post Link to post Share on other sites
Arun 795 Report post Posted February 4, 2011 and no more purchases allowed on eBay US as well using PayPal India A/C from March 1 Share this post Link to post Share on other sites
Honest 836 Report post Posted February 4, 2011 ^^^ Hmmm.....No purchases allowed from eBay U.S. from 1st March Onwards... Share this post Link to post Share on other sites
dkaile 1,051 Report post Posted February 4, 2011 and no more purchases allowed on eBay US as well using PayPal India A/C from March 1 :Ohhhh: :Ohhhh: are u sure?? source? Share this post Link to post Share on other sites
rajanmehta 4,056 Report post Posted February 4, 2011 (edited) You can't pay for ebay or anything else from the CREDIT balance of your Paypal Account..(You are selling some products, services Online and accepting Paypal Payments) There is no bar on you using your Credit Card on Paypal to buy anything anywhere from the world. Here is the Actual RBI Notification http://www.rbi.org.i...?Id=6107&Mode=0 And here is a nice article on how Paypal is misleading everyone by putting the blame on RBI http://techie-buzz.c...s-flouting.html Edited February 4, 2011 by rajanmehta Share this post Link to post Share on other sites
Arun 795 Report post Posted February 4, 2011 Right sorry, I meant using PayPal balance. Credit Card conversion fee is higher. Share this post Link to post Share on other sites
SumitVerma 187 Report post Posted February 4, 2011 ^ You made my heartbeats skip for a second Share this post Link to post Share on other sites
petar 15 Report post Posted February 4, 2011 Use paypal conversion rate- its better then credit card companies. U will get billed in rupees. Share this post Link to post Share on other sites
copperco2 24 Report post Posted February 5, 2011 there is one emerging payment gateway that is scheduled to open in 2011 and currently in beta mode Paybox Currently they are in learning mode kinda dry run and offering $25 to everyone who signs up with them. I am not sure about the payout but then they are also not asking about the ccard details as of now. No harm at least trying them.. Share this post Link to post Share on other sites
